exv10w4



 


EXHIBIT 10.4



First Amendment to the Equity Office

Second Amended and Restated

Supplemental Retirement Savings Plan

(As Amended and Restated Effective September 1, 2003)



     WHEREAS, Equity Office Properties Trust (the “Company”) has adopted the
Equity Office Second Amended and Restated Supplemental Retirement Savings Plan
(As Amended and Restated Effective September 1, 2003) (the “Plan”), and has
reserved the right to amend the Plan; and


     WHEREAS, the Compensation and Option Committee of the Board of Trustees of
the Company (the “COC”) is authorized to amend the Plan, and the COC has
approved and adopted this amendment;


     NOW THEREFORE, the Company amends the Plan, effective September 20, 2003,
in the following respects:


     1. Paragraph (a)(iii) of Section 4.2 is amended to read as follows:


“A Participant by or for whom a Share Deferral is made
with respect to a Restricted Share may also make an
election, applicable if the Funding Trustee receives
and complies with the Participant’s request to invest
the deferred amount in Shares, or receives a request
from the COC to invest the deferred amount in Shares,
to have all dividends paid on such Shares distributed
to the Participant when received by the Funding
Trustee; provided that, in the absence of such an
election, such dividends shall be credited to the
Participant’s Account. An election to have dividends
distributed to a Participant must be made on or before
December 31 of the calendar year preceding the
calendar year in which the dividends are paid and will
remain in effect until revoked. An election to have
dividends distributed to a Participant may be revoked
by the Participant, effective for dividends paid after
the calendar year in which the revocation is made.”


     2. Section 7.7 is amended to read as follows:


“Income taxes, Social Security and Medicare taxes and
other taxes payable with respect to an Account shall
be deducted from such Account. Social Security and
Medicare taxes payable with respect to a deferral
shall be deducted from the amount deferred. All
federal, state or local taxes that the Plan
Administrator determines are required to be withheld
from any payments made pursuant to this Article 7
shall be withheld. Except as otherwise provided by
the Plan Administrator, (i) the deduction of
withholding and any other taxes required by law will
be made from all amounts paid in


 







 


cash, (ii) in the case of payments in property other
than Shares, the Participant shall be required to pay
in cash the amount of any taxes required to be
withheld prior to receipt of such property, and (iii)
in the case of payments in Shares, the Participant
shall be required to pay in cash the amount of any
taxes required to be withheld prior to receipt of such
Shares, or alternatively, a number of Shares the Fair
Market Value (defined below) of which equals the
amount required to be withheld may be deducted from
the payment; provided, however, that the number of
Shares so deducted may not have an aggregate Fair
Market Value in excess of the amount determined by
applying the minimum statutory withholding rate. For
the purposes of this Section 7.7, “Fair Market Value”
shall mean the reported closing price for Shares on
the New York Stock Exchange on the date of
determination or, if there is no reported closing
price for Shares on such day, on the next preceding
day on which any sale of Shares shall have been
reported.”


     IN WITNESS WHEREOF, this Amendment has been executed by a duly authorized
officer of the Company, this 20th day of September, 2003.



	 	 	 	 	 
	 	 	EQUITY OFFICE PROPERTIES TRUST
	 	 	 	 	 
	 	 	
By:
	 	/s/ Stanley M. Stevens
	 	 	 	 	

	 	 	 	 	Stanley M. Stevens

Executive Vice President, Chief Legal

Counsel and Secretary







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