Document:

exv10w3

 

Exhibit 10.3

FIRST AMENDMENT

TO

EMPLOYMENT AGREEMENT

The Employment Agreement made as of the 10th day of January, 2003 by and between
AvalonBay

Communities, Inc., a Maryland corporation (the “Company”), and Bryce Blair (“Executive”)
is hereby amended as follows:

Section 7(c)(iii)(B) of the Employment Agreement is hereby amended by deleting said subsection in
its entirety and substituting thereof the following:

     “(B) Continue to pay the premiums then due or thereafter payable on the
whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive;
and”

Section 7(c)(iv)(E) of the Employment Agreement is hereby amended by deleting said subsection in
its entirety and substituting the following in lieu thereof:

     “(E) Continue to pay the premiums then due or thereafter payable on the
whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive.”

Section 7(c)(v) of the Employment Agreement is hereby amended by deleting subsection (B) thereof in
its entirety and substituting the following in lieu thereof:

     “(B) Continue to pay the premiums then due or thereafter payable on the
whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive;
and”

Except as amended herein, the Employment Agreement is hereby confirmed in all
other respects.

IN WITNESS WHEREOF, this Amendment is entered into this 31st day of
March, 2005.

	 	 	 	 	 
	 	AVALONBAY COMMUNITIES, INC.

 	 
	 	By:  	/s/ Charlene Rothkopf
 	 
	 	 	Charlene Rothkopf, EVP – Human Resources 	 
	 	 	 	 
	 
	 	 	 
	 	 	                                                          /s/ Edward M. Schulman
 	 
	 	 	Edward M. Schulman, 	 
	 	 	SVP, General Counsel & Secretary 	 
	 
	 	 	 
	 	                                                          /s/ Bryce Blair
 	 
	 	Executiveexv10w4

 

Exhibit 10.4

FIRST AMENDMENT

TO

EMPLOYMENT AGREEMENT

The Employment Agreement made as of the 26th day of February, 2001 by and between AvalonBay

Communities, Inc., a Maryland corporation (the “Company”), and Timothy J. Naughton (“Executive”) is

hereby amended as follows:

Section 7(c)(iii)(B) of the Employment Agreement is hereby amended by deleting said subsection in
its entirety and substituting thereof the following:

     “(B) Continue to pay the premiums then due or thereafter payable on the
whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive;
and”

Section 7(c)(iv) of the Employment Agreement is hereby amended by deleting subsection II in the
second paragraph thereof in its entirety and substituting the following in lieu thereof:

     “II. Continue to pay the premiums then due or thereafter payable on
the whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive.”

Section 7(c)(v) of the Employment Agreement is hereby amended by deleting subsection (B) thereof in
its entirety and substituting the following in lieu thereof:

     “(B) Continue to pay the premiums then due or thereafter payable on the
whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive;
and”

     Section 7(c)(vi) of the Employment Agreement is amended by deleting subsection (B) thereof in its
entirety and substituting the following in lieu thereof:

     “(B) Continue to pay the premiums then due or thereafter payable on the
whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive;
and

Except as amended herein, the Employment Agreement is hereby confirmed in all
other respects.

IN WITNESS WHEREOF, this Amendment is entered into this 31st day of
March, 2005.

	 	 	 	 	 
	 	AVALONBAY COMMUNITIES, INC.

 	 
	 	By:  	/s/ Charlene Rothkopf
 	 
	 	 	Charlene Rothkopf, EVP – Human Resources 	 
	 	 	 	 
	 
	 	 	 
	 	 	                                                          /s/ Edward M. Schulman
 	 
	 	 	Edward M. Schulman, 	 
	 	 	SVP, General Counsel & Secretary 	 
	 
	 	Timothy J. Naughton 	 
	 	
Executiveexv10w5

 

Exhibit 10.5

FIRST AMENDMENT

TO

EMPLOYMENT AGREEMENT

     The Employment Agreement made as of the 1st day of July, 2003 by and between
AvalonBay Communities,

 Inc., a Maryland corporation (the “Company”), and Thomas J. Sargeant
(“Executive”) is hereby amended as follows:

Section 7(c)(iii)(B) of the Employment Agreement is hereby amended by deleting said subsection in
its entirety and substituting thereof the following:

     “(B) Continue to pay the premiums then due or thereafter payable on the
whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive;
and”

Section 7(c)(iv)(E) of the Employment Agreement is hereby amended by deleting said subsection in
its entirety and substituting the following in lieu thereof:

     “(E) Continue to pay the premiums then due or thereafter payable on the
whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive.”

Section 7(c)(v) of the Employment Agreement is hereby amended by deleting subsection (B) thereof in
its entirety and substituting the following in lieu thereof:

     “(B) Continue to pay the premiums then due or thereafter payable on the
whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive;
and”

Except as amended herein, the Employment Agreement is hereby confirmed in all
other respects.

IN WITNESS WHEREOF, this Amendment is entered into this 31st day of
March, 2005.

	 	 	 	 	 
	 	AVALONBAY COMMUNITIES, INC.

 	 
	 	By:  	/s/ Charlene Rothkopf
 	 
	 	 	Charlene Rothkopf, EVP – Human Resources 	 
	 	 	 	 
	 
	 	 	 
	 	 	                                                          /s/ Edward M. Schulman
 	 
	 	 	Edward M. Schulman, 	 
	 	 	SVP, General Counsel & Secretary 	 
	 
	 	Thomas J. Sargeant	 
	 	Executiveexv10w6

 

Exhibit 10.6

FIRST AMENDMENT

TO

EMPLOYMENT AGREEMENT

The Employment Agreement made as of the 10th day of September, 2001 by and between AvalonBay

Communities, Inc., a Maryland corporation (the “Company”), and Leo S. Horey (“Executive”) is hereby

amended as follows:

Section 7(c)(iii)(B) of the Employment Agreement is hereby amended by deleting said subsection in
its entirety and substituting thereof the following:

     “(B) Continue to pay the premiums then due or thereafter payable on the
whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive;
and”

Section 7(c)(iv) of the Employment Agreement is hereby amended by deleting subsection II in the
second paragraph thereof in its entirety and substituting the following in lieu thereof:

     “II. Continue to pay the premiums then due or thereafter payable on
the whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive.”

Section 7(c)(v) of the Employment Agreement is hereby amended by deleting subsection (B) thereof in
its entirety and substituting the following in lieu thereof:

     “(B) Continue to pay the premiums then due or thereafter payable on the
whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive;
and”

Section 7(c)(vi) of the Employment Agreement is amended by deleting subsection (B) thereof in its
entirety and substituting the following in lieu thereof:

     “(B) Continue to pay the premiums then due or thereafter payable on the
whole-life portion of the split-dollar insurance policy referenced under
Section 3(d) in accordance with, and to the extent required by, the
provisions of the Split Dollar Agreement between the Company and Executive;
and

Except as amended herein, the Employment Agreement is hereby confirmed in all
other respects.

IN WITNESS
WHEREOF, this Amendment is entered into this 31st day of March, 2005.

	 	 	 	 	 
	 	AVALONBAY COMMUNITIES, INC.

 	 
	 	By:  	/s/ Charlene Rothkopf
 	 
	 	 	Charlene Rothkopf, EVP – Human Resources 	 
	 	 	 	 
	 

	 	 	 	 	 
	 	 	 
	 	       	                                                     /s/ Edward M. Schulman
 	 
	 	 	Edward M. Schulman, 	 
	 	 	SVP, General Counsel & Secretary 	 
	 

	 	 	 	 	 
	 	 	 
	 	                                                   /s/ Leo S. Horey
 	 
	 	Executive

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