SEC Contract Filing

Filing Date: 2025-02-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>3
<FILENAME>ex-1032024.htm
<DESCRIPTION>EX-10.3
<TEXT>
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<title>Document</title></head><body><div id="ifd1ec647640c4c46bb1e3bba056d9910_36"></div><div style="min-height:42.75pt;width:100%"><div><font><br></font></div></div><div style="text-align:right;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exhibit 10.3</font></div><div style="padding-right:-18pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">AvalonBay Communities, Inc. <br>&#91;Incentive&#93;&#91;Non-Qualified&#93; Stock Option Agreement<br>(2009 Equity Incentive Plan)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the AvalonBay Communities, Inc. Second Amended and Restated 2009 Equity Incentive Plan (the &#8220;Plan&#8221;), AvalonBay Communities, Inc. (the &#8220;Company&#8221;) hereby grants to the Optionee named below an Option to purchase on or prior to the tenth anniversary of the grant date of this option award as set forth below (the &#8220;Expiration Date&#8221;) up to the number of shares of the Company&#8217;s Common Stock, par value $.01 per share (&#8220;Common Stock&#8221;), set forth below at the Exercise Price set forth below&#58;</font></div><div style="padding-left:42.88pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:74.707%"><tr><td style="width:1.0%"></td><td style="width:41.170%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:56.630%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 3.42pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Optionee&#58;</font></td><td colspan="3" style="border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 3.42pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Grant Date&#58;</font></td><td colspan="3" style="border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 3.42pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Vesting Commencement Date&#58;</font></td><td colspan="3" style="border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#91;typically March 1 of the year after the Grant Date&#93;</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 3.42pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Number of Shares Underlying Option (the &#8220;Option Shares&#8221;)&#58;</font></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This option is subject to all of the terms and conditions as set forth herein, in the &#91;Incentive&#93;&#91;Non-Qualified&#93; Stock Option Agreement Terms (the &#8220;Terms&#8221;) which are attached hereto and incorporated herein in their entirety, and in the Plan. Capitalized terms used but not defined herein or in the Terms shall have the respective meanings ascribed thereto in the Plan.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Incentive Stock </font></div><div style="margin-bottom:6pt;padding-left:90pt;text-align:justify;text-indent:-90pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Option&#58;&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This Option &#91;shall be construed in a manner to&#93;&#91;does not&#93;</font><font style="color:#ff0000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:12