SEC Contract Filing

Filing Date: 2022-02-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d290124dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[American Homes 4 Rent Letterhead] </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[&#9679;], 2022 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">[NAME] </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">[ADDRESS] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><B><U>Re: Severance and Change of Control Letter Agreement</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Dear [&nbsp;&nbsp;&nbsp;&nbsp;]: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">This letter sets forth certain agreed upon terms between American Homes 4 Rent (the &#147;Company&#148;) and you (the
&#147;Executive&#148;) that apply in the event of a termination of your employment. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;Rights
Upon Termination of Employment.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Permitted Terminations</U>.<B> </B>The
Executive&#146;s employment during the period of employment is <FONT STYLE="white-space:nowrap">&#147;at-will&#148;</FONT> and may be terminated by the Company or the Executive immediately for any reason, with or without notice, subject to and
including the following: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:22%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;<U>Death</U>. The Executive&#146;s employment shall terminate
automatically upon the Executive&#146;s death without any further notice or action required by the Company or the Executive&#146;s legal representatives. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:22%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(ii)&nbsp;&nbsp;&nbsp;&nbsp;<U>By the Company</U>. The Company may terminate the Executive&#146;s employment in the following
circumstances: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:26%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(A)&nbsp;&nbsp;&nbsp;&nbsp;<U>Disability</U>. The Company may terminate the Executive&#146;s employment
for Disability. &#147;<U>Disability</U>&#148; means the Executive&#146;s substantial inability (including by virtue of physical or mental illness, injury, disability, or other incapacity) to perform the essential functions of the Executive&#146;s
position (with or without reasonable accommodation, as required by law for the Executive) for a period of ninety (90)&nbsp;consecutive days or more than one hundred twenty (120)&nbsp;days in any twelve (12)-month period; provided that until such
termination, the Executive shall continue to receive the Executive&#146;s compensation and benefits hereunder, reduced by benefits payable, if any, under any disability insurance policy or plan. If there is a dispute as to the existence of
Disability, the Executive&#146;s Disability will be established if a qualified medical doctor selected by the parties so certifies in writing. If the parties are unable to agree on the selection of such a doctor, each party will designate a
qualified medical doctor who together will select a third doctor who will make the determination. The written medical opinion of the doctor shall be binding upon the parties as to whether a Disability exists and the date such Disability arose. The
foregoing shall be interpreted and applied so as to comply with the provisions of the Americans with Disabilities Act (to the extent that it is applicable), the California Fair Employment </P>
</DIV></Center>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">and Housing Act (to the extent Executive is a California employee), and any other applicable
state or local laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:26%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(B)&nbsp;&nbsp;&nbsp;&nbsp;<U>Cause</U>. The Company may immediately terminate the Executive&#146;s
employment hereunder for Cause (subject to any cure periods described below). For purposes of this letter, &#147;<U>Cause</U>&#148; shall mean the Executive&#146;s: (1)&nbsp;material failure to observe and comply with any of the Company&#146;s
material written policies, including without limitation its policies prohibiting harassment (sexual or otherwise) and discrimination, its Code of Ethics for Senior Financial Officers and its Code of Business Conduct and Ethics; (2)&nbsp;continued
failure to substantially perform the Executive&#146;s material duties with the Company, which is not cured within thirty (30)&nbsp;calendar days after receipt by the Executive of written notice of such failure; (3)&nbsp;willful failure to carry out,
or comply with, in any material respect any lawful and reasonable written directive of the Board; (4)&nbsp;commission of any act or omission t