##### 



Exhibit 10.64




---



##### 



Table of Contents
 Page1.     Purposes
    
    
    12.     Definitions
    
    
    13.     Determination of Participant; Award Agreement
    
    
    44.     Corporate Goal: Delivery of Performance Shares; Restriction on Transfer
    
    
    45.     Source of Shares
    
    
    66.     Capital Adjustment
    
    
    67.     Additional Programs
    
    
    68.     Administration
    
    
    69.     Amendment and Termination
    
    
    610.   Headings
    
    
    711.   Incorporation of Plan by Reference
    
    
    7Appendix AAppendix B




---



##### 



Purpose
 Definitions
 Award
 Award Agreement
 1




---



##### 



Board
 Cause
 Change in Control
 Committee
 Common Stock
 Company
 Corporate Goal
 Disability
 Director
 Employment Agreement
 Good Reason
 Measurement Period
 Participant
 Partnership
 2




---



##### 



Performance Share
 Plan
 Program
 Share
 Bonus Pool
  Morgan Stanley REIT Index
 Shareholder Value
 Operating Units
 Performance Threshold
 3




---



##### 



TRS
 Weighted Average Outstanding Shares
 Determination of Participant; Award Agreement
   Corporate Goal: Delivery of Performance Shares; Restriction on Transfer
  4




---



##### 



5




---



##### 



Source of Shares
   Capital Adjustment
 Additional Programs
 Administration
 6




---



##### 



Amendment and Termination
 Headings
 Incorporation of Plan by Reference
  COMPENSATION COMMITTEE OF
ARDEN REALTY, INC.By:
    /s/ Carl D. CovitzCompensation Committee ChairmanArden Realty, Inc. 7




---



##### 



Name
    
    PercentageRichard S. Ziman
    
    
    20.0Victor J. Coleman
    
    
    20.0Robert C. Peddicord
    
    
    10.0Richard S. Davis
    
    
    10.0David Swartz
    
    
    10.0Howard Stern
    
    
    10.0Others
    
    
    20.0Total
    
    
    100.0
    %
 1




---



##### 



1
   Outstanding Company Shares
    
    
    66,695,239Outstanding Partnership Units
    
    
    +1,721,699Total Shares Outstanding
    
    
    68,416,938Total Shares Outstanding
    
    
    68,300,000
   3/31/09 Value of One Share2
    
    $
    60.00+ Dividend over Measurement Period on One Share
    
    
    +8.39- 4/1/05 Value of One Share
    
    
    -34.97TRS
    
    $
    33.42
 
 1
    
    THE EXAMPLES SET FORTH IN THIS APPENDIX B DO
NOT SHOW THE FULL CALCULATION OF TRS BECAUSE, FOR PURPOSES OF
ILLUSTRATION, THEY DO NOT REFLECT THAT EACH CASH DIVIDEND PAID DURING THE
MEASUREMENT PERIOD IS DEEMED TO BE REINVESTED IN A FRACTIONAL
NOTIONAL SHARE OF THE COMPANY WHEN ACTUALLY CALCULATING TRS.2
    
    AVERAGE CLOSING PRICE FOR THE 20 TRADING DAYS
ENDING MARCH 31, 2009. 1




---



##### 



2




---



##### 



3




---



##### 



3/31/08 Value of One Share
    
    $
    55.00+ Dividends over Measurement Period on One Share
    
    
    6.20- 4/1/05 Value of One Share
    
    
    -34.97TRS
    
    $
    26.23
          4




---



##### 



3/31/09 Value of One Share
    
    $
    64.00+ Dividends over Measurement Period on One Share
    
    
    +8.39- 1/1/04 Value of One Share
    
    
    -34.97TRS
    
    $
    37.42
      181 days
   5




---



##### 



730 days
   550 days
     6