SEC Contract Filing

Filing Date: 2018-08-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex_119060.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<html>
<head>
	<title>ex_119060.htm</title>

	<!-- Created by RDG HTML Converter v1.1.0.0 7/28/2018 11:36:42 AM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no"/>
</head>
<body style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 10px; margin-right: 10px; cursor: auto;">
<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;"><b>Exhibit </b><b>10</b><b>.1</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>M.D.C. HOLDINGS, INC.<br>
2011 EQUITY INCENTIVE PLAN<br>
<br>
STOCK OPTION AGREEMENT</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:118.5pt;">M.D.C. Holdings, Inc., a Delaware corporation (the <b>&ldquo;Company&rdquo;</b>), grants an option under the M.D.C. Holdings, Inc. 2011 Equity Incentive Plan (the<b> &ldquo;Plan&rdquo;</b>) to purchase shares of common stock, $0.01 par value per share, of the Company (<b>&ldquo;Stock&rdquo;</b>) to the Optionee named below. This Stock Option Agreement (the <b>&ldquo;Agreement&rdquo;</b>) evidences the terms of the Company&rsquo;s grant of an Option to Optionee.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>A. NOTICE OF GRANT</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Name of Optionee:</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Number of Shares of Stock Covered by the Option:</b>&nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Exercise Price per Share:</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Grant Date:</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Expiration Date: </b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Type of Option: </b>Non-Qualified Stock Option</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Vesting Schedule:</b> Except as provided otherwise in this Agreement and the Plan (including but not limited to Section 14.2 of the Plan which provides for accelerated vesting upon certain terminations in connection with a Change of Control), Optionee&rsquo;s right to purchase shares of Stock under this Option vests, as set forth below:</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:87.7%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

 <tr>
 <td style="vertical-align:top;border-bottom:solid 1px #000000;;width:39%;">
 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><br>
 <b>Service Vesting Date</b></p>
 </td>
 <td style="vertical-align:top;width:2.8%;">&nbsp;</td>
 <td style="vertical-align:top;border-bottom:solid 1px #000000;;width:27.6%;">
 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Percentage of Shares that </b></p>

 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Vest</b></p>
 </td>
 <td style="vertical-align:top;width:2.8%;">&nbsp;</td>
 <td style="vertical-align:top;border-bottom:solid 1px #000000;;width:27.7%;">
 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Cumulative Percentage of </b></p>

 <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Vested Shares </b></p>
 </td>
 </tr>
 <tr>
 <td style="vertical-align:middle;border-bottom: 1px #000000;;width:39%;">&nbsp;</td>
 <td style="vertical-align:top;width:2.8%;">&nbsp;</td>
 <td style="vertical-align:middle;border-bottom: 1px #000000;;width:27.6%;">&nbsp;</td>
 <td style="vertical-align:top;width:2.8%;">&nbsp;</td>
 <td style="vertical-align:middle;border-bottom: 1px #000000;;width:27.7%;">&nbsp;</td>
 </tr>
 <tr>
 <td style="vertical-align:middle;width:39%;">&nbsp;</td>
 <td style="vertical-align:top;width:2.8%;">&nbsp;</td>
 <td style="vertical-align:middle;width:27.6%;">&nbsp;</td>
 <td style="vertical-align:top;width:2.8%;">&nbsp;</td>
 <td style="vertical-align:middle;width:27.7%;">&nbsp;</td>
 </tr>
 <tr>
 <td style="vertical-align:middle;width:39%;">&nbsp;</td>
 <td style="vertical-align:top;width:2.8%;"