Form of Addendum to NQSO Stock Option Agreement with Certain Officers with Employment Agreements

Exhibit 10.30

Form of Addendum to NQSO Stock Option Agreement
with
Certain Officers with Employment Agreements

      [In accordance with the employment agreements of Messrs. Blair, Naughton, Sargeant and Horey, the Company enters into the following addendum to all Non-Qualified Stock Option Agreements with such individuals.]

     This Addendum to Stock Option Agreement is dated as of                                          .

     Reference is made to the following agreement (the “Unmodified Stock Option Agreement”):

Non-Qualified Stock Option Agreement between                              (“Employee”) and AvalonBay Communities, Inc. (“AvalonBay”), dated                      , with respect to                      stock options (the “Options”) having an exercise price of $                      .

Capitalized terms used herein and not defined herein have the meanings set forth in the Unmodified Stock Option Agreement.

     For the convenience of AvalonBay, the Unmodified Stock Option Agreement is in a standard format commonly used by AvalonBay. However, this Addendum to Stock Option Agreement (the “Addendum”) contains one or more provisions (the “Modifications”) approved by the Board of Directors of AvalonBay (the “Board”) that are inconsistent with the terms of the Unmodified Stock Option Agreement. The Board approved the Modifications at the time it approved the grant of the Options to Employee, and for ease of administration the Company is documenting the grant of the Options with the Modifications by entering into the Unmodified Stock Option Agreement and this Addendum.

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