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This excerpt taken from the EQR DEF 14A filed Apr 16, 2009. Annual Salary Annual salaries of executive officers are set at levels competitive with other companies engaged in the real estate industry and with other businesses of comparable size and scope with whom we compete for executive talent. The Compensation Committee sets the compensation philosophy and reviews base salaries for the executive officers annually and makes adjustments, if any, to reflect market conditions, changes in responsibilities and potential merit increases consistent with compensation practices throughout our organization. None of the named executive officers received a salary increase for 2009. This excerpt taken from the EQR DEF 14A filed Apr 17, 2008. Annual Salary Annual salaries are paid to executive officers with the same objectives as salaries paid to all employees of the Company:
The Company reviews its overall salary structure annually to determine that salaries remain competitive. The review considers data from compensation surveys of the real estate industry in general, the multi-family housing industry and, for certain positions, the general industry. Individual salaries are reviewed at least annually, with most reviews taking place at year-end. Salary increases may be granted based on both performance and the employee’s position in the applicable salary range. For executive officers, the annual salary is determined at the beginning of the year, taking into consideration each executive’s responsibilities, qualifications, performance in the previous year, the degree to which the executive has reached full proficiency in the position, ongoing contributions to the Company’s success, salaries paid to the other executive officers and external benchmarking data. Mr. Neithercut’s annual salary for 2007 of $625,000 was determined by the Compensation Committee, together with the other independent members of the Board, in January 2007. The Committee took into consideration the factors discussed in the previous paragraph. For executive officers other than the Chief Executive Officer and President, annual salaries for 2007 were determined by Mr. Neithercut in consultation with the Compensation Committee, in a series of meetings in December 2006 and January 2007, and for Mr. Parrell at the time of his appointment as Chief Financial Officer in October 2007. The factors discussed above were taken into consideration in making those decisions. This excerpt taken from the EQR DEF 14A filed Apr 16, 2007. Annual Salary Annual salaries are paid to Executive Officers with the same objectives as salaries paid to all employees of the Company:
The Company reviews its overall salary structure annually to determine that salaries remain competitive. The review considers data from compensation surveys of the real estate industry in general, the multi-family housing industry and, for certain positions, general industry. Individual salaries are reviewed at least annually, with most reviews taking place at year-end. Salary increases may be granted based on both performance and the employee’s position in the applicable salary range. For Executive Officers, the annual salary is determined at the beginning of the year, taking into consideration each executive’s responsibilities, qualifications, performance in the previous year, the degree to which the executive has reached full proficiency in the position, ongoing contributions to the Company’s success, salaries paid to the other executive officers and external benchmarking data. Mr. Neithercut’s annual salary for 2006 of $600,000 was determined by the Compensation Committee, together with the other independent members of the Board, in January 2006. The Committee 22 took into consideration the factors discussed in the previous paragraph. Because this was Mr. Neithercut’s first year as CEO, the Committee made an assessment, with outgoing CEO Bruce Duncan, of Mr. Neithercut’s 2005 performance as EVP Corporate Strategy and as President for seven months of that year. For Executive Officers other than the Chief Executive Officer and President, annual salaries for 2006 were determined by Mr. Neithercut in consultation with Mr. Duncan, Mr. Spector (except for his own salary) and the Compensation Committee, in a series of meetings in December 2005 and January 2006. The factors discussed above were taken into consideration in making those decisions. | EXCERPTS ON THIS PAGE:
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