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EQR » Topics » Reduction of 2008 Compensation

This excerpt taken from the EQR DEF 14A filed Apr 16, 2009.

Reduction of 2008 Compensation

Based on the Compensation Committee’s review of the metrics used to determine performance of the Company’s financial and other goals as well as the performance of each executive officer’s business unit and individual goals, each of the executives would have achieved a cash bonus and long-term incentive compensation award substantially in excess of the targeted amounts. Notwithstanding this strong performance, however, as a result of the dramatic downturn in the economy and the expectations that these weak economic conditions will continue into 2009, the Compensation Committee, in consultation with the Chief Executive Officer, reduced the projected cash bonus awards by an average of 19% and the projected long-term compensation awards by an average of 15% for the named executive officers.

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