HOME PROPERTIES OF NEW YORK, INC.
2000 STOCK BENEFIT PLAN
1. PURPOSES OF THE PLAN
The purposes of this 2000 Stock Benefit Plan (the "Plan") are to enable Home Properties of New York, Inc. (the
"Company") and its Subsidiaries to attract and retain the services of key employees and persons with managerial,
professional or supervisory responsibilities, including, but not limited to, members of the Board of Directors,
responsible for the future success of the Company, and to provide them with increased motivation and incentive
to exert their best efforts on behalf of the Company by enlarging their personal stake in its success. It is intended
that the Plan will be administered as a "broadly based" plan under the current rules of the New York Stock
2. GENERAL PROVISIONS
As used in the Plan:
(a) "Award" means a grant of a Stock Option, Restricted Stock or SAR.
(b) "Board of Directors" means the Board of Directors of the Company.
(c) "Broadly Based Requirements" means the requirements as described in Section 2.7
(d) "Code" means the Internal Revenue Code of 1986, including any and all amendments thereto.
(e) "Committee" means the committee appointed by the Board of Directors from time to time to administer the
Plan pursuant to Section 2.2. Until changed by the Board of Directors, the Committee shall be the Management
and Directors Committee of the Board of Directors.
(f) "Common Stock" means the Company's Common Stock, $.01 par value.
(g) "Company" means Home Properties of New York, Inc. and any of its predecessors, subsidiaries or
(h) "Eligible Director" means a member of the Company's Board of Directors who is not otherwise an employee
of the Company or any Subsidiary.
(i) "Director's Option" means an option grant made to an Eligible Director pursuant to Section 4.2.
(j) "Fair Market Value" means, with respect to a specific date, (a) if the Common Stock is listed or admitted to
trading on any securities exchange or the NAS