SEC Contract Filing

Filing Date: 2022-04-29

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>eqr-ex101_18.htm
<DESCRIPTION>EX-10.1
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.1 </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EQUITY RESIDENTIAL<br />2022 LONG-TERM INCENTIVE PLAN AWARD AGREEMENT</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This 2022 Long-Term Incentive Plan Award Agreement (the &#8220;<font style="text-decoration:underline;">Award Agreement</font>&#8221;) is made as of January 1, 2022 between Equity Residential (the &#8220;<font style="text-decoration:underline;">Company</font>&#8221;) and _______________ (the &#8220;<font style="text-decoration:underline;">Grantee</font>&#8221;).</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">RECITALS</font></p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">A.</font><font style="margin-left:72pt;color:#000000;"></font><font style="color:#000000;">The Company, acting pursuant to authorization from its Board of Trustees and its Compensation Committee (the &#8220;</font><font style="text-decoration:underline;color:#000000;">Compensation Committee</font><font style="color:#000000;">&#8221;), hereby grants the Grantee a Long-Term Incentive Plan Award (&#8220;</font><font style="text-decoration:underline;color:#000000;">Award</font><font style="color:#000000;">&#8221;) as of the date hereof and as more fully set forth on </font><font style="text-decoration:underline;color:#000000;">Schedule A</font><font style="color:#000000;">.</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">B.</font><font style="margin-left:72pt;color:#000000;"></font><font style="color:#000000;">The Grantee can be issued, or retain, as the case may be, from 0% to 200% of the target number of Restricted Shares and/or Restricted Units that comprise the Award based on the Company&#8217;s relative Total Shareholder Return (&#8220;</font><font style="text-decoration:underline;color:#000000;">TSR</font><font style="color:#000000;">&#8221;) and achievement of Normalized Funds From Operations (&#8220;</font><font style="text-decoration:underline;color:#000000;">NFFO</font><font style="color:#000000;">&#8221;) and Net Debt to Normalized EBITDAre (defined herein) relative to a target, as further described herein, for the period beginning January 1, 2022 and ending December 31, 2024 (the &#8220;</font><font style="text-decoration:underline;color:#000000;">Performance Period</font><font style="color:#000000;">&#8221;).</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">C.</font><font style="margin-left:72pt;color:#000000;"></font><font style="color:#000000;">Restricted Shares are unvested </font><font style="Background-color:#FFFFFF;">common shares of beneficial interest of the Company</font><font style="color:#000000;">.&nbsp;&nbsp;Restricted Units are</font><font style="Background-color:#FFFFFF;"> a special class of interest in ERP Operating Limited Partnership (&#8220;</font><font style="text-decoration:underline;Background-color:#FFFFFF;">ERP</font><font style="Background-color:#FFFFFF;">&#8221;), the Company&#8217;s operating partnership.&nbsp;&nbsp;Both Restricted Shares and Restricted Units are subject to vesting and other tax considerations.&nbsp;&nbsp;Each Restricted Unit is convertible, under certain conditions, into one OP Unit, which is </font><font style="color:#000000;">a class of partnership interest in ERP that </font><font style="Background-color:#FFFFFF;">can be exchanged for a common share in the Company</font><font style="Background-color:#FFFFFF;font-size:9.5pt;font-family:Arial;">.</font><font style="color:#00000