AMENDMENT TO NON-QUALIFIED STOCK OPTION

EXHIBIT 10.5

ORLEANS HOMEBUILDERS, INC.

AMENDMENT TO NON-QUALIFIED STOCK OPTION

This Amendment to Non-Qualified Stock Option (this “ Amendment ”) is made as of this 6 ^th day of December, 2007.

WHEREAS, on February 27, 2007, Orleans Homebuilders, Inc. (the “ Company ”) granted to Garry P. Herdler (the “ Optionee ”) an option to acquire 240,000 shares of the Company’s common stock with an exercise price of $15.60 per share pursuant to the Orleans Homebuilders, Inc. 2004 Omnibus Stock Inventive Plan, as amended and restated (the “ Plan ”) and a Non-Qualified Stock Option issued pursuant to the plan dated February 27, 2007 (the “ Option ”);

WHEREAS, the Plan permits the Committee to amend any grant document issued pursuant to the Plan, including the Option, without the recipient’s consent is such amendment is favorable to the recipient; and

WHEREAS, the Compensation Committee of the Company’s Board of Directors determined that the Option’s “Option