This excerpt taken from the EQR 10-K filed Mar 14, 2005.
1.1. Pursuant to the terms of this Grant Agreement(1) (Grant), effective as of January 1, 2005 (Grant Date), the undersigned Participant, intending to be legally bound, hereby accepts a Performance Unit Award (Award) of Units (as defined below) from Equity Residential (Trust) in accordance with the terms of the Trusts 2002 Share Incentive Plan (the Plan). Notwithstanding the foregoing, the actual number of Units provided under the Award shall be determined under Article 3. The purpose of the Award is to promote the overall financial objectives of the Trust and its shareholders by linking the financial interests of the Participant to the achievement of long-term growth in shareholder equity in the Trust and by enabling the Trust to retain the services of those individuals who are instrumental in achieving this growth.