FORM OF AMENDMENT
ENDORSEMENT SPLIT DOLLAR LIFE INSURANCE AGREEMENT
Split Dollar Life Insurance Agreement (the “Agreement”)
entered into as of _______________ by and between AvalonBay
Communities, Inc., a Maryland corporation (the
“Company”), and ____________ (the
“Insured”), as previously amended, is hereby further
amended as follows:
Agreement is amended and restated as follows:
The Insured is a
valuable employee of the Company. The Company wishes to continue
this employment relationship and, as inducement thereto, is willing
to participate with the Insured in the payment of premiums on
certain life insurance policies as an additional form of
compensation for the Insured’s services as an employee of the
Company. This Agreement is intended to qualify as a life insurance
employee benefit plan as described in Revenue Ruling
the parties agree as follows:
1. GENERAL DEFINITIONS
terms shall have the meanings specified:
“Company" means AvalonBay Communities, Inc., or
any successor thereto.
“Insured" means the Employee.
Insurer(s) ” means the insurance company or
companies listed on Attachment I hereto.
Policy ” or “ Policies ” means
the insurance policy or policies listed on Attachment I, issued on
the life of the Insured by the Insurer(s), together with any
supplementary contracts to such policies issued by the
Employment Agreement ” means the Employment
Agreement made as of _________ between the Company and the Insured,
as amended from time to time.