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Exhibit 10.31
Description of Arrangements with David Howell
Mr. Howell serves as Vice President – Market Development of Comstock Homebuilding Companies, Inc. (the “Company”). For the year ended December 31, 2004, Mr. Howell received $150,000 in base salary. Furthermore, he received incentive bonus in the amount of $150,000, tied to his meeting specific performance objectives. Pursuant to the Company’s 2004 Long-Term Incentive Compensation Plan, on December 14, 2004, Mr. Howell received a restricted stock grant of 12,500 shares of the Company’s Class A common stock, which shares have a two year vesting period.