Document:

exv4w1

Exhibit 4.1

	** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample MR.
SAMPLE **** Mr. Alexander David Sample **** Mr. Alexander David &Sample MRS. **** Mr. Alexander
David SAMPLE Sample **** Mr. Alexander David Sample **** Mr. & Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander MR. David Sample SAMPLE
**** Mr. Alexander David Sample & **** Mr. Alexander MRS. David Sample **** SAMPLE Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Sample ****
Mr. Sample

	**600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**
Shares****600620**Shares****600620**Shares***
*600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**S
hares****600620**Shares****600620**Shares****
600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Sh
ares****600620**Shares****600620**Shares****6
00620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Sha
res****600620**Shares****600620**Shares****60 * * * SIX HUNDRED THOUSAND
0620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shar
es****600620**Shares****600620**Shares****600
620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Share
s***600620**Shares****600620**Shares****60062
0**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares*
***600620**Shares****600620**Shares****600620
**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares**
**600620**Shares****600620**Shares****600620*
*Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares***
*600620**Shares****600620**Shares****600620** SIX HUNDRED AND TWENTY* * *
Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****
600620**Shares****600620**Shares****600620**S
hares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****6
00620**Shares****600620**Shares****600620**Sh

	Essex Property Trust, Inc. (hereinafter called the “Company”), transferable on the books of the
Company in person or by duly authorized attorney, upon surrender of this Certificate properly
endorsed. This Certificate and the shares represented hereby, are issued and shall be held subject
to all of the provisions of the charter, as amended and restated, and the bylaws, as amended and
restated, of the Company (copies of which are on file with the Company and with the Transfer
Agent), to all of which each holder, by acceptance hereof, assents. This Certificate is not valid
unless countersigned and registered by the Transfer Agent and Registrar.

	Witness the facsimile seal of the Company and the facsimile signatures of its duly authorized
officers.

	COUNTERSIGNED AND REGISTERED:

	COMPUTERSHARE TRUST COMPANY, N.A.

	TRANSFER AGENT AND REGISTRAR,

 

 

 

IMPORTANT NOTICE

ESSEX PROPERTY TRUST, INC.

THE SHARES OF 7.125% SERIES H CUMULATIVE REDEEMABLE PREFERRED STOCK (“PREFERRED STOCK”) REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER FOR THE PURPOSE OF MAINTENANCE OF THE
CORPORATION’S STATUS AS A REAL ESTATE INVESTMENT TRUST UNDER THE INTERNAL REVENUE CODE OF 1986, AS
AMENDED (THE “CODE”). NO PERSON MAY (1) BENEFICIALLY OWN OR CONSTRUCTIVELY OWN SHARES OF EQUITY
STOCK IN EXCESS OF 6.0% (OR SUCH GREATER PERCENTAGE AS MAY BE DETERMINED BY THE BOARD OF DIRECTORS
OF THE CORPORATION) OF THE VALUE OF THE OUTSTANDING SHARES OF EQUITY STOCK OF THE CORPORATION
UNLESS SUCH PERSON IS A QUALIFIED TRUST (IN WHICH CASE SUCH PERCENTAGE IS 9.9%) OR AN EXISTING
HOLDER (IN WHICH CASE THE EXISTING HOLDER LIMIT SHALL BE APPLICABLE), (2) BENEFICIALLY OWN SHARES
OF EQUITY STOCK THAT WOULD RESULT IN BENEFICIAL OWNERSHIP OF EQUITY STOCK BY FEWER THAN 100
PERSONS, OR (3) BENEFICIALLY OWN EQUITY STOCK THAT WOULD RESULT IN THE CORPORATION BEING “CLOSELY
HELD” UNDER SECTION 856(H) OF THE CODE. ANY PERSON WHO ATTEMPTS TO BENEFICIALLY OWN OR
CONSTRUCTIVELY OWN SHARES OF EQUITY STOCK IN VIOLATION OF THE ABOVE LIMITATIONS MUST IMMEDIATELY
NOTIFY THE CORPORATION. ALL CAPITALIZED TERMS IN THIS LEGEND HAVE MEANINGS DEFINED IN THE
CORPORATION’S CHARTER, AS THE SAME MAY BE FURTHER AMENDED FROM TIME TO TIME, A COPY OF WHICH,
INCLUDING THE RESTRICTIONS ON TRANSFER, WILL BE SENT WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO
REQUESTS. IF THE RESTRICTIONS ON TRANSFER ARE VIOLATED, THE SHARES OF EQUITY STOCK REPRESENTED
HEREBY WILL BE AUTOMATICALLY EXCHANGED FOR SHARES OF EXCESS STOCK WHICH WILL BE HELD IN TRUST BY
THE TRUSTEE OF A TRUST FOR THE EXCLUSIVE BENEFIT OF THE CHARITABLE BENEFICIARY DESIGNATED BY THE
BOARD OF DIRECTORS. THE FOREGOING SUMMARY OF THE RESTRICTIONS ON TRANSFER OF SHARES OF PREFERRED
STOCK IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE CORPORATION’S CHARTER.

The following abbreviations, when used in the inscription on the face of this certificate, shall be
construed as though they were written out in full according to applicable laws or regulations:

	 	 	 	 	 
	TEN COM

	 	-
	 	as tenants in common
	 
	 	 	 	 
	TEN ENT

	 	-
	 	as tenants by the entireties
	 
	 	 	 	 
	JT TEN

	 	-
	 	as joint tenants with right of survivorship and not as tenants in common

UNIF GIFT MIN ACT- . . . . . . . . . .Custodian . . . . . . . . . . . . . . .

                                    (Cust)
                              (Minor)

                              under Uniform Gifts to Minors Act . . . . . . . . . . . . .

                                      
                                                     (State)

UNIF TRF MIN ACT . . . . . . . . . . . . Custodian (until age. . . ). . . . . . . . . . .

                                     (Cust)
                                                  (Minor)

                              under Uniform Transfers to Minors Act. . . . . . . . . .

                                        
                                                         (State)

Additional abbreviations may also be used though not in the above list.

THE SHARES OF PREFERRED STOCK MAY NOT BE TRANSFERRED, IN WHOLE OR IN PART, TO ANY PERSON OTHER THAN
THE DEPOSITORY TRUST COMPANY OR A NOMINEE OR ANY SUCCESSOR THEREOF (THE “DEPOSITORY”), AND
TRANSFERS TO ANY OTHER PERSON WILL BE VOID AB INITIO AND SHALL BE GIVEN NO EFFECT ON THE BOOKS OF
THE CORPORATION UNLESS THE THEN-CURRENT DEPOSITARY (1) IS UNWILLING OR UNABLE TO CONTINUE AS
DEPOSITARY, OR (2) CEASES TO BE A CLEARING AGENCY REGISTERED UNDER THE EXCHANGE ACT OF 1934, AS
AMENDED, AND A SUCCESSOR DEPOSITARY IS NOT APPOINTED BY THE CORPORATION WITHIN 90 CALENDAR DAYS.

THE CORPORATION WILL FURNISH TO ANY STOCKHOLDER ON REQUEST AND WITHOUT CHARGE A FULL STATEMENT OF
(A) THE DESIGNATIONS AND PREFERENCES, CONVERSION AND OTHER RIGHTS, VOTING POWERS, RESTRICTIONS,
LIMITATIONS AS TO DIVIDENDS, QUALIFICATIONS, AND TERMS AND CONDITIONS OF REDEMPTION OF THE STOCK OF
EACH CLASS WHICH THE CORPORATION IS AUTHORIZED TO ISSUE, (B) THE DIFFERENCES IN THE RELATIVE RIGHTS
AND PREFERENCES BETWEEN THE SHARES OF EACH SERIES OF A PREFERRED OR SPECIAL CLASS IN SERIES WHICH
THE CORPORATION IS AUTHORIZED TO ISSUE, TO THE EXTENT THEY HAVE BEEN SET, AND (C) THE AUTHORITY OF
THE BOARD OF DIRECTORS TO SET THE RELATIVE RIGHTS AND PREFERENCES OF SUBSEQUENT SERIES OF A
PREFERRED OR SPECIAL CLASS OF STOCK. SUCH REQUEST MAY BE MADE TO THE SECRETARY OF THE CORPORATION
OR TO ITS TRANSFER AGENT.

For value received,                      hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

 

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE)

 

 

 

 

 

 

Shares of the preferred stock represented by the within Certificate, and do hereby irrevocably constitute and appoint

 

 

Attorney to transfer the said stock on the books of the within-named Corporation with full power of substitution in the premises.

	 	 	 	 	 	 	 	 	 	 	 
	Dated:

	 	 	 	 	20	 	 	 	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 
	 
	Signature:
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	Signature:
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Notice: The signature to this assignment must correspond with the
name as written upon the face of the certificate, in every particular, without alteration or
enlargement, or any change whatever.

Signature(s) Guaranteed: Medallion Guarantee Stamp

THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers,
Savings and Loan Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15.

			

	The IRS requires that we report the cost basis of certain shares acquired after January 1, 2011. If
your shares were covered by the legislation and you have sold or transferred the shares and
requested a specific cost basis calculation method, we have processed as requested. If you did not
specify a cost basis calculation method, we have defaulted to the first in, first out (FIFO)
method. Please visit our website or consult your tax advisor if you need additional information
about cost basis.

If you do not keep in contact with us or do not have any activity in your account for the time
periods specified by state law, your property could become subject to state unclaimed property laws
and transferred to the appropriate state.exv10w1

Exhibit 10.1

SECOND AMENDMENT TO THE

SECOND AMENDED AND RESTATED

AGREEMENT OF LIMITED PARTNERSHIP

OF

ESSEX PORTFOLIO, L.P.

Dated as of April 13, 2011

This Second Amendment to the Second Amended and Restated Agreement of Limited Partnership of Essex
Portfolio, L.P., as amended (as amended, the “Partnership Agreement”), dated as of the date shown
above (the “Amendment”), is executed by Essex Property Trust, Inc. a Maryland Corporation (the
“Company”), as the General Partner and on behalf of the existing Limited Partners of Essex
Portfolio, L.P. (the “Partnership”).

RECITALS

WHEREAS, the Partnership was formed pursuant to the Partnership Agreement;

WHEREAS, on the date hereof, the Company is selling and issuing 2,600,000 shares of 7.125% Series H
Cumulative Redeemable Preferred Stock (together with such additional shares of such series as may
thereafter be issued, the “Series H Preferred Stock”) pursuant to a public offering, and the
Company has granted to the underwriters an option to purchase up to an additional 390,000 shares of
such stock;

WHEREAS, the Series H Preferred Stock ranks on a parity with our outstanding 7.8125% Series F
Cumulative Redeemable Preferred Stock and our outstanding 4.875% Series G Cumulative Convertible
Preferred Stock, and no other series of preferred stock is currently outstanding; and

WHEREAS, pursuant to the authority granted to the General Partner under the Partnership Agreement,
the General Partner desires to amend the Partnership Agreement to reflect (i) the issuance of the
Series H Preferred Stock and (ii) certain other matters described herein.

NOW THEREFORE, in consideration of the premises and for other good and valuable consideration, the
receipt and sufficiency of which hereby are acknowledged, the General Partner hereby amends the
Partnership Agreement as follows:

1. Definitions. Capitalized terms used herein, unless otherwise defined herein, shall have
the same meanings as set forth in the Partnership Agreement.

2. Percentage Interest. Section 1.1 of the Partnership Agreement is hereby amended to
delete the definition of “Percentage Interest” in its entirety and to substitute the following
definition of “Percentage Interest” in its place:

	 	 	 	“Percentage Interest” shall mean with respect to any Partner other than holders of Series B
Preferred Units, Series Z Incentive Units or Series Z-1 Incentive Units, the undivided
percentage ownership interest of such Partner in the Partnership, as determined by dividing
(i) the number of Partnership Units owned by such Partner by (ii) the sum of (A) the total
number of Partnership Units then outstanding (excluding the Series B Preferred Interest, the
Series B Partnership Units, the Series F Preferred Interest, Series G Preferred Interest,
Series H Preferred Interest, Series Z Incentive Units and the Series Z-1 Incentive Units),
(B) the total number of outstanding Series Z Incentive Units multiplied by the Distribution
Ratchet Percentage with respect to each such Series Z Incentive Unit, calculated on a
unit-by-unit basis, and (C) the total number of outstanding Series Z-1 Incentive Units
multiplied by the Series Z-1 Distribution Ratchet Percentage with respect to each such
Series Z-1 Incentive Unit, calculated on a unit-by-unit basis. With respect to any holder of
Series Z Incentive Units, such Partner’s Percentage Interest shall be equal to such
Partner’s Series Z Percentage Interest. With respect to any holder of Series Z-1 Incentive
Units, such Partner’s Percentage Interest shall be equal to such Partner’s Series Z-1
Percentage Interest. If any Partner holds a combination of Common Units, LTIP Units, Series
Z Incentive Units and/or Series Z-1 Incentive Units, then such Partner’s Percentage Interest
shall be equal to the sum of (A) the Percentage Interest as

1

 

	 	 	 	calculated pursuant to the first sentence of this definition (assuming for purposes of such
calculation that such Partner holds only Common Units and/or LTIP Units, if any), (B) the
Series Z Percentage Interest (assuming for purposes of such calculation that such Partner
holds only Series Z Incentive Units, if any) and (C) the Series Z-1 Percentage Interest
(assuming for purposes of such calculation that such Partner holds only Series Z-1 Incentive
Units, if any).

3. Common Unit. Section 1.1 of the Partnership Agreement is hereby amended to delete the
definition of “Common Unit” in its entirety and to substitute the following definition of “Common
Unit,” in its place:

	 	 	 	“Common Unit” shall mean a Partnership Unit representing an interest in the Partnership,
other than a Series B Preferred Unit, Series B Preferred Interest, Series F Preferred
Interest, Series G Preferred Interest, Series H Preferred Interest, Series Z Incentive Unit,
Series Z-1 Incentive Unit, LTIP Unit or any other Preferred Interest or Preferred
Partnership Units.

4. Series Z Percentage Interest. Section 1.1 of the Partnership Agreement is hereby
amended to delete the definition of “Series Z Percentage Interest” in its entirety and to
substitute the following definition of “Series Z Percentage Interest,” in its place:

	 	 	 	“Series Z Percentage Interest” shall mean, with respect to any holder of Series Z Incentive
Units, the undivided percentage ownership interest of such Partner in the Partnership as
determined by dividing (A) the product resulting from multiplying the total number of
outstanding Series Z Incentive Units owned by such Partner by the Series Z Distribution
Ratchet Percentage attributed to such holder’s Series Z Incentive Units, by (B) the sum of
(x) the total number of Partnership Units then outstanding (excluding the Series B Preferred
Interest, the Series B Partnership Units, the Series F Preferred Interest, Series G
Preferred Interest, Series H Preferred Interest, the Series Z Incentive Units and the Series
Z-1 Incentive Units), (y) the total number of outstanding Series Z Incentive Units
multiplied by the Distribution Ratchet Percentage with respect to each Series Z Incentive
Unit, calculated on a unit-by-unit basis, and (z) the total number of outstanding Series Z-1
Incentive Units multiplied by the Series Z-1 Distribution Ratchet Percentage with respect to
each such Series Z-1 Incentive Unit, calculated on a unit-by-unit basis.

     5. Series Z-1 Percentage Interest. Section 1.1 of the Partnership Agreement is hereby
amended to delete the definition of “Series Z-1 Percentage Interest” in its entirety and to
substitute the following definition of “Series Z-1 Percentage Interest,” in its place:

	 	 	 	“Series Z-1 Percentage Interest” shall mean, with respect to any holder of Series Z-1
Incentive Units, the undivided percentage ownership interest of such Partner in the
Partnership as determined by dividing (A) the product resulting from multiplying the total
number of outstanding Series Z-1 Incentive Units owned by such Partner by the Series Z-1
Distribution Ratchet Percentage attributed to such holder’s Series Z-1 Incentive Units, by
(B) the sum of (x) the total number of Partnership Units then outstanding (excluding the
Series B Preferred Interest, the Series B Partnership Units, the Series F Preferred
Interest, Series G Preferred Interest, Series H Preferred Interest, the Series Z Incentive
Units and the Series Z-1 Incentive Units), (y) the total number of outstanding Series Z
Incentive Units multiplied by the Distribution Ratchet Percentage with respect to each
Series Z Incentive Unit, calculated on a unit-by-unit basis, and (z) the total number of
outstanding Series Z-1 Incentive Units multiplied by the Series Z-1 Distribution Ratchet
Percentage with respect to each such Series Z-1 Incentive Unit, calculated on a unit-by-unit
basis.

6. Series H Preferred Interest. Section 1.1 of the Partnership Agreement is hereby
amended to include the following definition, to be inserted in alphabetical order in such Section
1.1:

	 	 	 	“Series H Preferred Interest” shall mean the interest in the Partnership received by the
General Partner in connection with the issuance of shares of Series H Preferred Stock, as
and when issued, which Series H Preferred Interest includes and shall include the right to
receive preferential distributions and certain other rights as set forth in this Agreement.

2

 

7. Series H Preferred Stock. Section 1.1 of the Partnership Agreement is hereby amended to
include the following definition, to be inserted in alphabetical order in such Section 1.1:

	 	 	 	“Series H Preferred Stock” shall mean the preferred stock of the General Partner described
in Article SECOND of the Articles Supplementary, reclassifying 8,000,000 shares of Common
Stock as 8,000,000 shares of 7.125% Series H Cumulative Redeemable Preferred Stock filed
with the Department on or about April 11, 2011.

     8. Issuances of Additional Partnership Interests. Section 4.3(e) is hereby deleted
in its entirety, and the following is hereby substituted in the place thereof:

	 	(e)	 	Notwithstanding the provisions of Section 4.3(a) above, there shall be no adjustment
of the Percentage Interests of the Partners on account of the additional Capital
Contribution by the General Partner to the Partnership of the net proceeds from the sale of
the Series F Preferred Stock, the net proceeds from the sale of the Series G Preferred
Stock, or the net proceeds from the sale of the Series H Preferred Stock.

9. Distributions. Section 6.2(a) and (c) of the Partnership Agreement are hereby deleted
in their entirety, and the following is hereby substituted in the place thereof:

     (a) Distributions shall be made in accordance with the following order of priority:

	 	(i)	 	First, on a pro rata basis, (based upon the same ratio that accrued
distributions per share of Series B Preferred Stock, Series F Preferred Stock, Series G
Preferred Stock, and Series H Preferred Stock and per unit of Series B Preferred Units
(which shall not include any accumulation in respect of unpaid distributions for prior
distribution periods if such stock or units do not have cumulative distribution rights) bear
to each other) (w) to the General Partner, on account of the Series B Preferred Interest,
Series F Preferred Interest, Series G Preferred Interest, and Series H Preferred Interest
until the total amount of distributions made pursuant to this Section 6.2(a)(i)(w) equals
the total amount of accrued but unpaid distributions (if any) payable with respect to the
Series B Preferred Stock, the Series F Preferred Stock, Series G Preferred Stock and Series
H Preferred Stock as of the date of such distribution; and (y) to the Limited Partners
holding Series B Preferred Units, on account of the Series B Preferred Units until the total
amount of distributions made pursuant to this Section 6.2(a)(i)(y) equals the total amount
of accrued but unpaid distributions (if any) payable with respect to the Series B Preferred
Units, in accordance with Exhibit N of the Partnership Agreement, as of the date of such
distribution.

	 	(ii)	 	Next, to the Partners, pro rata in accordance with the Partners’ then
Percentage Interests.

	 	 	 	Neither the Partnership nor the Limited Partners shall have any obligation to see that any
funds distributed to the General Partner pursuant to subparagraph (a)(i) of this Section 6.2
are in turn used by the General Partner to pay dividends on the Series B Preferred Stock,
the Series F Preferred Stock, the Series G Preferred Stock or the Series H Preferred Stock
(or any other Preferred Stock) or that funds distributed to the General Partner pursuant to
subparagraph (a)(ii) of this Section 6.2 are in turn used by the General Partner to pay
dividends on the Common Stock or for any other purpose.

	 	(c)	 	Notwithstanding the foregoing, the General Partner may, in its sole
discretion, at any time when any Preferred Stock (including any Series B Preferred Stock,
Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock or any other
Preferred Stock) is outstanding, make a special distribution to itself, alone, on account of
the Preferred Interest relating to such Preferred Stock, for the sole purpose of, and in an
amount no greater than such amount as will be used by the General Partner for, redemption of
all or any part of such outstanding Preferred Stock (any such distribution shall be referred
to as a “Redemption Distribution”). There shall be no adjustments of the Percentage
Interests of the Partners on account of any Redemption Distribution.

3

 

10. Distributions in Kind. Section 8.5 of the Partnership Agreement is hereby amended by
deleting the last sentence of such section and substituting the following in its place:

	 	 	 	Notwithstanding the foregoing, the Liquidating Trustee shall not distribute to the
holders of Series B Partnership Units, Series B Preferred Interest, Series F
Preferred Interest, Series G Preferred Interest and Series H Preferred Interest
assets other than cash.

11. Agreement to Contribute Proceeds from Issuance of Series H Preferred Stock.
Immediately upon receipt by the General Partner of the net proceeds from the sale of Series H
Preferred Stock, as and when shares of Series H Preferred Stock are sold by the General Partner
(after deducting all costs and expenses incurred by the General Partner in connection with the sale
of such shares of Series H Preferred Stock including, without limitation, all underwriters’
commissions, and attorneys’ and consultants’ fees and costs), the General Partner shall contribute
to the Partnership, as an additional Capital Contribution, the entire amount of such net proceeds.
In exchange for each such additional Capital Contribution, the General Partner shall receive a
Series H Preferred Interest in the Partnership, and the General Partner’s Capital Account shall be
increased by an amount equal to the number of shares of Series H Preferred Stock sold multiplied by
the purchase price per share of the Series H Preferred Stock. Notwithstanding the provisions of
Section 4.3(a) of the Partnership Agreement, there shall be no adjustment of the Percentage
Interests of the Partners on account of any such additional Capital Contribution.

12. Continuing Effect of Partnership Agreement. Except as modified herein, the
Partnership Agreement is hereby ratified and confirmed in its entirety and shall remain and
continue in full force and effect, provided, however, that to the extent there shall be a conflict
between the provisions of the Partnership Agreement and this Amendment the provisions in this
Amendment will prevail. All references in any document to the Partnership Agreement shall mean the
Partnership Agreement, as amended hereby.

13. Counterparts. This Agreement may be executed in any number of counterparts, each of
which shall be deemed to be an original and all of which shall constitute one and the same
agreement. Facsimile signatures shall be deemed effective execution of this Agreement and may be
relied upon as such by the other party. In the event facsimile signatures are delivered, originals
of such signatures shall be delivered to the other party within three (3) business days after
execution.

IN WITNESS WHEREOF, the General Partner has executed this Amendment as of the date indicated
above.

	 	 	 	 	 
	 	GENERAL PARTNER

ESSEX PROPERTY TRUST, INC.,

a Maryland corporation as General Partner

of Essex Portfolio, L.P. and on behalf of the

existing Limited Partners

 	 
	 	By:  	/s/ Michael T. Dance
 	 
	 	 	Name:  	Michael T. Dance 	 
	 	 	Title:  	Executive Vice President and

Chief Financial Officer 	 
	 

4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}]]