<SEC-DOCUMENT>0001193125-24-281281.txt : 20241218
<SEC-HEADER>0001193125-24-281281.hdr.sgml : 20241218
<ACCEPTANCE-DATETIME>20241218160533
ACCESSION NUMBER:		0001193125-24-281281
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		16
CONFORMED PERIOD OF REPORT:	20241212
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20241218
DATE AS OF CHANGE:		20241218

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EQUITY RESIDENTIAL
		CENTRAL INDEX KEY:			0000906107
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				363877868
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12252
		FILM NUMBER:		241559201

	BUSINESS ADDRESS:	
		STREET 1:		EQUITY RESIDENTIAL
		STREET 2:		TWO NORTH RIVERSIDE PLAZA, SUITE 400
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129281178

	MAIL ADDRESS:	
		STREET 1:		TWO NORTH RIVERSIDE PLAZA
		STREET 2:		SUITE 400
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EQUITY RESIDENTIAL PROPERTIES TRUST
		DATE OF NAME CHANGE:	19930524

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ERP OPERATING LTD PARTNERSHIP
		CENTRAL INDEX KEY:			0000931182
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				363894853
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24920
		FILM NUMBER:		241559202

	BUSINESS ADDRESS:	
		STREET 1:		TWO N RIVERSIDE PLZ
		STREET 2:		STE 400
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3124741300

	MAIL ADDRESS:	
		STREET 1:		TWO N RIVERSIDE PLAZA
		STREET 2:		SUITE 450
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
</SEC-HEADER>
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<td style="width:32%"/></tr>
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<td style="vertical-align:top;text-align:center;"><ix:nonNumeric name="dei:Security12bTitle" contextRef="P12_12_2024To12_12_2024" id="ixv-487">Common Shares of Beneficial Interest, $0.01 Par Value</ix:nonNumeric> (Equity Residential)</td>
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<td style="vertical-align:top;text-align:center;"><ix:nonNumeric name="dei:SecurityExchangeName" contextRef="P12_12_2024To12_12_2024" format="ixt-sec:exchnameen" id="ixv-489">The New York Stock Exchange</ix:nonNumeric></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
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<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top;text-align:center;"><div style="-sec-ix-hidden:hidden127954361;display:inline;">N/A</div></td>
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<td style="vertical-align:top;text-align:center;"><ix:nonNumeric name="dei:SecurityExchangeName" contextRef="P12_12_2024To12_12_2024_ErpOperatingLimitedPartnershipMemberdeiLegalEntityAxis_SevenPointFiveSevenPercentNotesDueAugustFifteenTwoThousandTwentySixMemberusgaapStatementEquityComponentsAxis" format="ixt-sec:exchnameen" id="ixv-491">The New York Stock Exchange</ix:nonNumeric></td></tr></table><div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;&#8201;230.405 of this chapter) or Rule <div style="white-space:nowrap;display:inline;">12b-2</div> of the Securities Exchange Act of 1934 <div style="white-space:nowrap;display:inline;">(&#167;&#8201;240.12b-2</div> of this chapter). </div><div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&#8194;<ix:nonNumeric name="dei:EntityEmergingGrowthCompany" contextRef="P12_12_2024To12_12_2024" format="ixt-sec:boolballotbox" id="ixv-492"><ix:nonNumeric name="dei:EntityEmergingGrowthCompany" contextRef="P12_12_2024To12_12_2024_ErpOperatingLimitedPartnershipMemberdeiLegalEntityAxis" format="ixt-sec:boolballotbox" id="ixv-493">&#9744;</ix:nonNumeric></ix:nonNumeric> </div><div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;13(a) of the Exchange Act.&#8194;&#9744; </div><div style="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&#160;</div><div style="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&#160;</div><div style="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&#160;</div></div></div><div style="margin-top:1em; margin-bottom:0em; page-break-before:always"></div><hr style="color:#999999;height:3px;width:100%;clear:both"/><div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
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<td style="width:11%;vertical-align:top;text-align:left;"><div style="font-weight:bold;display:inline;">Item&#8201;5.02</div></td>
<td style="vertical-align:top;text-align:left;"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e)&#8195;On December&#160;12, 2024, the Board of Trustees (the &#8220;Board&#8221;) of Equity Residential (the &#8220;Company&#8221;), approved and adopted the Equity Residential Executive Severance Plan (the &#8220;Severance Plan&#8221;) applicable to <div style="white-space:nowrap;display:inline;">non-change</div> in control severance. The Severance Plan was approved at the recommendation of the Compensation Committee of the Board (the &#8220;Compensation Committee&#8221;), in connection with its annual review and benchmarking of the Company&#8217;s executive compensation plans, and covers management employees of the Company and its subsidiaries designated as eligible by the Compensation Committee, which include the Company&#8217;s chief executive officer (&#8220;CEO&#8221;) and executive vice presidents that report directly to the CEO (the &#8220;Eligible Executives&#8221; and, together with the CEO, the &#8220;Participants&#8221;). The Severance Plan was developed in consultation with the Compensation Committee&#8217;s independent compensation consultant, as the Compensation Committee determined it is typical and customary to provide a standardized framework for severance arrangements that will provide increased certainty for the Participants and the Company in the event of a <div style="white-space:nowrap;display:inline;">non-change</div> in control severance. The Severance Plan is expected to assist the Company with the retention and recruitment of key executives, provide the Company with important protections, and reduce costs in the event of a dispute. </div><div style="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">The Severance Plan does not supersede, replace, nor amend any change in control agreements between the Company and the Participants, which remain in effect. As a condition to becoming eligible for benefits under the Seve<div style="display:inline;">ran</div>ce Plan, each Participant must enter into a participation notice and agreement. </div><div style="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">The Severance Plan provides for payment of severance and other customary benefits to Participants in the event of a termination of employment by the Company without Cause (and other than as a result of the Participant&#8217;s death or disability) or by the Participant for Good Reason (each as defined in the Severance Plan and each, a &#8220;Qualifying Termination&#8221;), subject to the (i)&#160;Participant&#8217;s execution and <div style="white-space:nowrap;display:inline;">non-revocation</div> of a general release of claims in favor of the Company and (ii)&#160;continued compliance with the restrictive covenants related to post-employment <div style="white-space:nowrap;display:inline;">non-solicitation</div> and <div style="white-space:nowrap;display:inline;">non-competition</div> for 24 months (CEO) or 18 months (Eligible Executives), as applicable, following a Qualifying Termination and indefinite covenants covering trade secrets, confidentiality and <div style="white-space:nowrap;display:inline;">non-disparagement.</div> </div><div style="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">In the event of a Qualifying Termination, in addition to certain accrued obligations, which the Participant has earned and to which he or she is entitled, the Severance Plan provides for the following typical and customary additional payments and benefits: </div><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</div>
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<td style="width:5%">&#160;</td>
<td style="width:3%;vertical-align:top;text-align:left;">&#8226;</td>
<td style="width:1%;vertical-align:top">&#160;</td>
<td style="vertical-align:top;text-align:left;"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt;text-align:left">a <div style="white-space:nowrap;display:inline;">lump-sum</div> <div style="white-space:nowrap;display:inline;">pro-rata</div> cash payment based on target performance bonus and target performance equity grant for the year of termination; </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</div>
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<td style="width:5%">&#160;</td>
<td style="width:3%;vertical-align:top;text-align:left;">&#8226;</td>
<td style="width:1%;vertical-align:top">&#160;</td>
<td style="vertical-align:top;text-align:left;"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt;text-align:left">a cash payment equal to the sum of the Participant&#8217;s (x)&#160;annual base salary and (y)&#160;target performance bonus times the multiplier applicable to such Participant (which is 2.0 for the CEO and 1.5 for the Eligible Executives), payable in equal monthly installments over the applicable severance payment period (which is 24 months for the CEO and 18 months for the Eligible Executives) (the &#8220;severance payment period&#8221;); </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</div>
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<td style="width:5%">&#160;</td>
<td style="width:3%;vertical-align:top;text-align:left;">&#8226;</td>
<td style="width:1%;vertical-align:top">&#160;</td>
<td style="vertical-align:top;text-align:left;"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt;text-align:left">the Company and the Participant will share responsibility for the payment of premiums required to maintain medical, dental and vision COBRA continuation coverage for the Participant and his or her dependents and beneficiaries under the Company&#8217;s group health insurance plan at substantially the same level as provided immediately prior to a Qualifying Termination, with the Participant paying the same portion of the premium which he or she had been paying (or such amount as similarly situated active Company executives would pay) and the Company covering the remaining cost, for a period of 24 months (CEO) or 18 months (Eligible Executives), as applicable; </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</div>
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<td style="width:5%">&#160;</td>
<td style="width:3%;vertical-align:top;text-align:left;">&#8226;</td>
<td style="width:1%;vertical-align:top">&#160;</td>
<td style="vertical-align:top;text-align:left;"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt;text-align:left">a cash payment equal to the sum of each long-term incentive (&#8220;LTI&#8221;) plan award that is incomplete as of the date of Qualifying Termination, with each LTI award pro rated based on the number of days elapsed under each plan in relation to the full 36 months in the performance period, valued as if the performance period ended on the date of Qualifying Termination, vested, and paid in equal monthly installments over the applicable severance payment period; and </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%">
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<td style="width:5%">&#160;</td>
<td style="width:3%;vertical-align:top;text-align:left;">&#8226;</td>
<td style="width:1%;vertical-align:top">&#160;</td>
<td style="vertical-align:top;text-align:left;"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt;text-align:left">any equity awards issued to a Participant pursuant to the Company&#8217;s Share Incentive Plan which are unvested at the time of a Qualifying Termination shall immediately vest and any vested option awards shall continue to be exerciseable until the expiration of the Participant&#8217;s severance payment period. </div></td></tr></table><div style="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">The foregoing summary is qualified in its entirety by reference to the Severance Plan, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference. </div></div></div><div style="margin-top:1em; margin-bottom:0em; page-break-before:always"></div><hr style="color:#999999;height:3px;width:100%;clear:both"/><div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
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<td style="width:11%;vertical-align:top;text-align:left;"><div style="font-weight:bold;display:inline;">Item&#8201;8.01</div></td>
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<td style="width:11%;vertical-align:top;text-align:left;"><div style="font-weight:bold;display:inline;">Item&#8201;9.01</div></td>
<td style="vertical-align:top;text-align:left;"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Financial Statements and Exhibits. </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</div>
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<td style="width:4%;vertical-align:top;text-align:left;"><div style="font-weight:bold;display:inline;">(d)</div></td>
<td style="vertical-align:top;text-align:left;"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Exhibits. </div></td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</div>
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<td/>
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<td style="width:93%"/></tr>
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<td style="vertical-align:bottom;white-space:nowrap;text-align:center;"><div style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Exhibit<br/> No.</div></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap"><div style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman;font-weight:bold">Description</div></td></tr>
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<td style="vertical-align:top;white-space:nowrap">10.1</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d865931dex101.htm">Equity Residential Executive Severance Plan.</a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"/>
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<td style="vertical-align:top;white-space:nowrap">104</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top">Cover Page Interactive Data File (embedded within the Inline XBRL document).</td></tr></table></div></div><div style="margin-top:1em; margin-bottom:0em; page-break-before:always"></div><hr style="color:#999999;height:3px;width:100%;clear:both"/><div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto"><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">SIGNATURES </div><div style="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</div>
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<td style="width:4%"/>
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<td style="width:5%"/>
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<td style="vertical-align:bottom">&#160;</td>
<td colspan="5" style="vertical-align:bottom"><div style="font-weight:bold;display:inline;">EQUITY&#160;RESIDENTIAL</div></td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"/>
<td colspan="2" style="height:12pt"/>
<td colspan="4" style="height:12pt"/></tr>
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<td style="vertical-align:bottom">Date: December&#160;18, 2024</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">By:</td>
<td style="vertical-align:bottom">&#160;</td>
<td colspan="3" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Scott J. Fenster</div></td></tr>
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<td style="vertical-align:bottom"/>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">Name:</td>
<td style="vertical-align:bottom">&#160;</td>
<td colspan="3" style="vertical-align:bottom">Scott J. Fenster</td></tr>
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<td style="vertical-align:bottom"/>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">Its:</td>
<td style="vertical-align:bottom">&#160;</td>
<td colspan="3" style="vertical-align:bottom">Executive Vice President and General Counsel</td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"/>
<td colspan="6" style="height:12pt"/></tr>
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<td style="vertical-align:bottom"/>
<td style="vertical-align:bottom">&#160;</td>
<td colspan="5" style="vertical-align:bottom"><div style="font-weight:bold;display:inline;">ERP OPERATING LIMITED PARTNERSHIP</div></td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"/>
<td colspan="2" style="height:12pt"/>
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<td style="vertical-align:bottom"/>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">By:</td>
<td style="vertical-align:bottom">&#160;</td>
<td colspan="3" style="vertical-align:bottom">EQUITY RESIDENTIAL, its general partner</td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"/>
<td colspan="2" style="height:12pt"/>
<td colspan="2" style="height:12pt"/>
<td colspan="2" style="height:12pt"/></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom">Date: December&#160;18, 2024</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"/>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">By:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top"><div style="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Scott J. Fenster</div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom"/>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"/>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">Name:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">Scott J. Fenster</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom"/>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"/>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">Its:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">Executive Vice President and General Counsel</td></tr></table></div></div></div></div>
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<TITLE>EX-10.1</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EQUITY RESIDENTIAL </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXECUTIVE SEVERANCE PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(for the Chief Executive Officer, President, and Executive Vice Presidents </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>that report directly to the Chief Executive Officer and/or President) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Plan Document/Summary Plan Description </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Equity Residential (the &#147;<U>Company</U>&#148;) has adopted this Executive Severance Plan (the &#147;<U>Plan</U>&#148;) for the benefit of
certain management employees of the Company and its subsidiaries (hereinafter referred to as the &#147;<U>Company Group</U>&#148;), on the terms and conditions hereinafter stated. Participation in this Plan is intended to be limited to those
management employees designated as eligible for the Plan by the Committee who receive and return a Participation Notice and Agreement in the form attached hereto as <U>Exhibit A.</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Plan shall be effective on the Effective Date. Other than any &#147;change in control&#148; agreements between the Company and a
Participant, whether entered into prior to, or after, the Effective Date (the &#147;<U>Change in Control Agreements</U>&#148;), this Plan supersedes, solely for the Participant, any prior plans, policies, guidelines, arrangements, agreements,
letters and/or other communication, whether formal or informal, written or oral sponsored by any member of the Company Group and/or entered into by any representative of the Company Group that might otherwise provide severance benefits
(collectively, the &#147;<U>Other Severance Arrangements</U>&#148;). As such, other than the Change in Control Agreements, this Plan represents the exclusive severance benefit provided to Participants and such individuals shall not be eligible for
any other severance benefits provided in Other Severance Arrangements. For the avoidance of doubt: (i)&nbsp;the Change in Control Agreements are not included within the definition of Other Severance Arrangements, and are not superseded by this Plan,
and (ii)&nbsp;retirement, death and disability benefits provided in the Share Incentive Plan are also not included within the definition of Other Severance Arrangements and are not superseded by this Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Plan is not intended to be an &#147;employee pension benefit plan&#148; or &#147;pension plan&#148; within the meaning of
Section&nbsp;3(2) of ERISA. Rather, this Plan is intended to be a &#147;welfare benefit plan&#148; within the meaning of Section&nbsp;3(1) of ERISA and to meet the descriptive requirements of a plan constituting a &#147;severance pay plan&#148;
within the meaning of regulations published by the Secretary of Labor at Title 29, Code of Federal Regulations, <FONT STYLE="white-space:nowrap">Section&nbsp;2510.3-2(b).</FONT> In addition, the Plan shall, to the extent legally possible, be
considered a &#147;top hat&#148; plan which is maintained for a select group of management or highly compensated employees (as defined in Title 29, Code of Federal Regulations, <FONT STYLE="white-space:nowrap">Section&nbsp;2520.104-24).</FONT>
Accordingly, any benefits paid pursuant to the terms of the Plan are not deferred compensation for purposes of ERISA, and no Participant shall have a vested right to such benefits. To the extent applicable, it is intended that portions of this Plan
either comply with or be exempt from the provisions of Code Section&nbsp;409A. This Plan shall be administered in a manner consistent with this intent and any provision that would cause this Plan to fail to either constitute a welfare benefit plan
under ERISA or comply with or be exempt from Code Section&nbsp;409A, as the case may be, shall have no force and effect; provided, that, the Company shall make any necessary changes to comply with Code Section&nbsp;409A while intending to preserve
the economic benefits to the Participants hereunder. </P>
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<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Definitions.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) &#148;<U>Accrued Compensation</U>&#148; means all amounts that have accrued to the benefit of the Participant through the
&#147;Termination Date&#148; but not paid as of the Termination Date including: (i)&nbsp;Base Salary, (ii)&nbsp;reimbursement for reasonable and necessary expenses incurred by the Participant on behalf of the Company during the period ending on the
Termination Date, (iii)&nbsp;vacation and sick leave pay (to the extent provided by Company policy or applicable law), (iv) any Annual Incentive Award for service in the last fiscal year ended on or prior to the Termination Date, in the amount
approved in good faith by the person or committee having authority as part of the Company&#146;s typical and customary process (as of the date of this Plan, this is the Committee), and (v)&nbsp;any other amounts or benefits required to be paid by
law or the applicable Company employee benefit plans or policies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) &#148;<U>Affiliate</U>&#148; means any Person that directly or
indirectly controls, is controlled by or is under common control with the Company. The term &#147;control&#148; (including, with correlative meaning, the terms &#147;controlled by&#148; and &#147;under common control with&#148;), as applied to any
Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting or other securities, by contract or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) &#147;<U>Annual Incentive Award</U>&#148; means any compensation (which may be cash and/or equity) offered as an annual incentive in
addition to base salary which the Participant was eligible to earn for service in a given year, specifically excluding any &#147;LTIP-Type Award&#148; as defined below.&nbsp;As of the Effective Date, &#147;Annual Incentive Award&#148; would refer to
compensation awarded under the Company&#146;s Annual Incentive Plan, which is comprised of both an Annual Performance Bonus and an Annual Performance Equity Grant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) &#148;<U>Annual Performance Bonus</U>&#148; means, subject to the following two sentences, the annual cash incentive bonus in which the
Participant participates as of the date of a Qualifying Termination. As of the Effective Date, the Annual Performance Bonus is paid out in cash unless a recipient elects to receive it as equity, and reflects performance against <FONT
STYLE="white-space:nowrap">pre-established</FONT> goals in respect of the previous calendar year. Following the Effective Date, if executives at the Company no longer receive an annual cash incentive bonus as part of executive compensation, then the
&#147;Annual Performance Bonus&#148; shall be defined as the functional equivalent of such bonus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) &#147;<U>Annual Performance Equity
Grant</U>&#148; means the annual equity grant program in which the Participant participates as of the date of a Qualifying Termination. As of the Effective Date, the Annual Performance Equity Grant is an equity grant, subject only to time-based
vesting, that reflects performance against <FONT STYLE="white-space:nowrap">pre-established</FONT> goals in respect of the previous calendar year. Following the Effective Date, if executives at the Company no longer receive an annual equity grant as
part of executive compensation, then the &#147;Annual Performance Equity Grant&#148; shall be defined as the functional equivalent of such grant. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(f) &#148;<U>Base Salary</U>&#148; means a Participant&#146;s then-current annual base
salary rate immediately prior to his or her Qualifying Termination (or, if higher, the annual base salary immediately prior to an event that constitutes a Good Reason hereunder), exclusive of any bonus payments or additional payments, unpaid or
unreimbursed expenses, under any benefit plan sponsored by the Company Group, including but not limited to, any ERISA plans, stock plans, incentive and deferred compensation plans, insurance coverage or medical benefits and without deduction for any
salary deferrals under the benefit or deferred compensation plans or programs of the Company Group. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(g) &#148;<U>Board</U>&#148; means
the Board of Trustees of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(h) &#148;<U>Cause</U>&#148; means a termination of employment if the Participant (i)&nbsp;has been
convicted of a felony involving fraud or dishonesty; (ii)&nbsp;intentionally and continually failed substantially to perform the Participant&#146;s reasonably assigned duties with the Company (other than a failure resulting from the
Participant&#146;s incapacity due to physical or mental illness or from the Participant&#146;s assignment of duties that would constitute &#147;Good Reason&#148; as hereinafter defined) which failure continued for a period of at least thirty
(30)&nbsp;days after a written notice of demand for substantial performance has been delivered to the Participant specifying the manner in which the Participant has failed substantially to perform or (iii)&nbsp;intentionally engaged in conduct which
is demonstrably and materially injurious to the Company; <U>provided</U>, <U>however</U>, that no termination of the Participant&#146;s employment shall be for Cause as set forth in clauses (ii)&nbsp;and/or (iii)&nbsp;above until (x)&nbsp;there
shall have been delivered to the Participant a copy of a written notice setting forth that the Participant was guilty of the conduct set forth in clauses (ii)&nbsp;and/or (iii)&nbsp;and specifying the particulars thereof in detail and (y)&nbsp;the
Participant shall have been provided an opportunity to be heard in person by the Board (with the assistance of the Participant&#146;s counsel if the Participant so desires). A Participant may only be terminated for Cause upon a written resolution
adopted in good faith by at least <FONT STYLE="white-space:nowrap">two-thirds</FONT> of the Board. Neither an act, nor a failure to act, on the Participant&#146;s part shall be considered &#147;intentional&#148; unless the Participant has acted or
failed to act with a lack of good faith and with a lack of reasonable belief that the Participant&#146;s action or failure to act was in the best interest of the Company. Notwithstanding anything contained in this Plan to the contrary, no failure to
perform by the Participant after a notice of termination for Good Reason is given by the Participant shall constitute Cause for purposes of this Plan.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) &#148;<U>Change in Control</U>&#148; means, in relation to a Participant, the same meaning that such term has in such Participant&#146;s
Change in Control Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(j) &#148;<U>Claims Administrator</U>&#148; means the Committee or such other individual or group of
individuals as may be appointed as the claim administrator under the Plan by the Committee from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(k)
&#147;<U>COBRA</U>&#148; means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, and any analogous state law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(l)
&#148;<U>Code</U>&#148; means the Internal Revenue Code of 1986, as amended, and the rules, regulations or other interpretative guidance promulgated thereunder, as well as any successor laws in replacement thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(m) &#148;<U>Committee</U>&#148; means the Compensation Committee of the Board and any successor committee of the Board performing a similar
function. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(n) &#148;<U>Disability</U>&#146;&#148; shall have the meaning set forth in the Share Incentive Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(o) &#148;<U>Effective Date</U>&#148; means December&nbsp;11, 2024. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(p) &#147;<U>Effective Date LTI Awards</U>&#148; means collectively, the 2022 Long-Term
Incentive Plan Award, 2023 Long-Term Incentive Plan Award, and 2024 Long-Term Incentive Plan Award awarded by the Company to the Participants prior to the Effective Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(q) &#148;<U>Employer</U>&#148; means, with respect to any Participant, the member of the Company Group at which such Participant is employed.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(r) &#148;<U>ERISA</U>&#148; means the Employee Retirement Income Security Act of 1974, as amended, and the rules, regulations or other
interpretive guidance promulgated thereunder, as well as any successor thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(s) &#148;<U>Good Reason</U>&#148; means the occurrence
of any events or conditions described in subsections (i)&nbsp;through (vii) hereof: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(i) a material change in the Participant&#146;s
status, title, position or responsibilities (including reporting responsibilities) which, in the Participant&#146;s reasonable judgment, represents a substantial adverse change; the assignment to the Participant of any duties or responsibilities
which, in the Participant&#146;s reasonable judgment, are inconsistent with the Participant&#146;s status, title, position or responsibilities; except in connection with the termination of the Participant&#146;s employment for Disability, Cause, as
a result of the Participant&#146;s death or by the Participant other than for Good Reason; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(ii) a material reduction in the
Participant&#146;s total target compensation opportunity (measured as base salary, target Annual Incentive Award, and target LTIP-Type Awards), other than an &#147;across the board&#148; reduction of compensation that generally affects all senior
executives of the Company, or any failure to pay the Participant any compensation or benefits to which the Participant is entitled within 30 days of written notice thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(iii) the Company&#146;s requiring the Participant to be based at any place outside the Chicago metropolitan area, except for reasonably
required travel on the Company&#146;s business which does not represent a material increase in such travel requirements; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(iv) the failure
by the Company to provide the Participant with benefits (as opposed to compensation), in the aggregate, at least substantially comparable to those provided for under each other employee benefit plan, program and practice that are offered to each of
the other senior executives of the Company; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(v) any material breach by the Company of any provision of this Plan or any material
compensation agreement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(vi) any purported termination of the Participant&#146;s employment for Cause by the Company which does not
comply with the terms of the definition of &#147;Cause&#148;; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(vii) the failure of the Company to obtain an agreement, satisfactory to
the Participant, from any successors and assigns of the Company to assume and agree to perform this Plan. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Participant&#146;s right to terminate the Participant&#146;s employment as a result of a &#147;Good
Reason&#148; shall not be reduced or negatively impacted by the Participant&#146;s incapacity due to a Disability or other physical or mental infirmity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(t) &#147;<U>Health Benefits Continuation Coverage</U>&#148; means the Company and Participant will share responsibility for the payment of
premiums required to maintain medical, dental and vision COBRA continuation coverage for Participant and the Participant&#146;s dependents and beneficiaries under the Company&#146;s group health insurance plan(s). Such payments shall be allocated as
follows: Participant will pay the same dollar portion of the premium which Participant has been paying prior to the Termination Date (or such amount that other similarly situated executives who continue in the employ of the Company during the Health
Benefits Continuation Period would pay for elected coverage). The Company&#146;s obligation hereunder with respect to the foregoing benefits shall be limited to the extent that the Participant obtains any such benefits pursuant to a subsequent
employer&#146;s benefit plans, in which case the Company may reduce the coverage of any benefits it is required to provide the Participant hereunder as long as the aggregate coverages and benefits of the combined benefits plans is no less favorable
to the Participant than the coverages and benefits required to be provided hereunder. This definition shall not be interpreted so as to limit any benefits to which the Participant, the Participant&#146;s dependents or beneficiaries may be otherwise
entitled under any of the Company&#146;s employee benefit plans, programs or practices following the Participant&#146;s termination of employment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(u) &#148;<U>Health Benefits Continuation Period</U>&#148; means, as to any Participant, the Health Benefits Continuation Period set forth in
<U>Exhibit B</U> applicable to the Participant&#146;s position as of the date of a Qualifying Termination (but disregarding any diminution in position that has given rise to a Good Reason), unless otherwise set forth in the Participation Notice and
Agreement. If the Health Benefits Continuation Period as set forth in <U>Exhibit B</U> is longer than that required by law with regard to COBRA continuation, at the end of such required COBRA continuation period the Company shall make a <FONT
STYLE="white-space:nowrap">lump-sum</FONT> payment to Participant equal to a reasonable estimate of what the employer portion of COBRA coverage would have been for the portion of the Health Benefits Continuation Period that occurs after the end of
the required COBRA continuation period (had the required COBRA continuation period included such remainder of the Health Benefits Continuation Period) . </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(v) &#147;<U>LTIP-Type Award</U>&#148; means a performance or incentive award that Participant may have the right to receive for performance
over a multi-year period, such as any rights to receive awards under the Company&#146;s Long-Term Incentive Plan, a development incentive plan, or special retention grants, including, but not limited to the Effective Date LTI Awards. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(w) &#147;<U>LTI Payment</U>&#148; means the amount payable to a Participant as set forth on <U>Exhibit C</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(x) &#147;<U>Participant</U>&#148; means any employee designated as eligible for the Plan by the Committee who is selected by the Committee to
participate in the Plan and returns to the Company an executed Participation Notice and Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(y) &#148;<U>Participation Notice and
Agreement</U>&#148; means the form of participation notice and agreement to the terms of the Plan, substantially in the form set forth in <U>Exhibit A</U> hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(z) &#148;<U>Person</U>&#148; means any individual, entity or group (within the meaning of Section&nbsp;13(d)(3) or 14(d)(2) of the Securities
Exchange Act of 1934, as amended, and any successor thereto). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(aa) &#147;<U><FONT STYLE="white-space:nowrap">Pro-Rata</FONT> Incentive Award</U>&#148;
means the target Annual Incentive Award amount that the Participant was eligible to receive for service in the Company&#146;s fiscal year in which the Participant&#146;s employment terminates, multiplied by a fraction, the numerator of which is the
number of days in such fiscal year through the Termination Date and the denominator of which is 365 (366 days in a leap year). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(bb)
&#147;<U>Qualifying Termination</U>&#148; means a Participant&#146;s termination of employment by the Employer without Cause (and other than as a result of the Participant&#146;s death or during the Participant&#146;s Disability) or by the
Participant with Good Reason; provided, however, it shall not be considered a Qualifying Termination if (i)&nbsp;such Participant&#146;s employment with the Employer is terminated upon the expiration of a leave of absence by reason of the
Participant&#146;s failure to return to work at such time, or (ii)&nbsp;prior to the Participant&#146;s Qualifying Termination, the Participant has delivered written notice of the Participant&#146;s intent to voluntarily resign under the &#147;Rule
of 70&#148; (as defined in the Share Incentive Plan). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(cc) &#148;<U>Release Agreement</U>&#148; means a release of claims in the form
attached hereto as <U>Exhibit D</U> (as it may be updated by the Company to incorporate changes in law), pursuant to which a Participant is required to (i)&nbsp;acknowledge the receipt of the severance payment and other benefits and
(ii)&nbsp;release the Company and its Affiliates (including the Employer) and other persons and entities designated by the Company from any liability arising from his or her employment or termination (other than with respect to the
Participant&#146;s rights under the Plan and with respect to other customary exceptions). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(dd) &#148;<U>Release Effectiveness
Date</U>&#148; means the date the Release Agreement becomes effective and irrevocable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ee) &#147;<U>Severance Multiple</U>&#148; means,
as to any Participant, the Severance Multiple set forth in <U>Exhibit B</U> applicable to the Participant&#146;s position as of the Termination Date (but disregarding any diminution in position that has given rise to a Good Reason). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ff) &#147;<U>Severance Payment Period</U>&#148; means, as to any Participant, the Severance Payment Period set forth in <U>Exhibit B</U>
applicable to the Participant&#146;s position as of the Termination Date (but disregarding any diminution in position that has given rise to a Good Reason), or, if greater, the Severance Payment Period set forth in the Participant&#146;s
Participation Notice and Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(gg) &#148;<U>Share Incentive Plan</U>&#148; means the Company&#146;s 2019 Share Incentive Plan, as
amended from time to time, or the most recent successor plan thereto adopted by the Company for the purpose of providing equity and other incentive compensation to the employees and other service providers of the Company Group, if any. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(hh) &#147;<U>Successors and Assigns</U>&#148; means a corporation or other entity acquiring all or substantially all the securities, assets
and/or business of the Company whether by operation of law or otherwise, and any Affiliate of such Successors and Assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii)
&#147;<U>Target Bonus Amount</U>&#148; means a Participant&#146;s target Annual Performance Bonus (or, if higher, the target Annual Performance Bonus (x)&nbsp;immediately prior to a reduction in Annual Performance Bonus that constitutes a Good
Reason hereunder or (y)&nbsp;at any point during the prior 12 months). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(jj) &#147;<U>Termination Date</U>&#148; means the date of a
Qualifying Termination. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">2. <B>Eligibility</B>. Eligibility to participate in the Plan shall be limited to any
employee of the Company Group that is designated as a Participant by the Committee; <U>provided</U> that, as a condition of participation in the Plan, the Participant must execute and submit a Participation Notice and Agreement, and following the
Participant&#146;s Qualifying Termination, a Release Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">3<B>.</B> <B>Termination of Employment.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Upon a Participant&#146;s Qualifying Termination, in addition to Accrued Compensation, subject to such Participant&#146;s execution,
delivery, and <FONT STYLE="white-space:nowrap">non-revocation</FONT> of the Release Agreement, as contemplated in Section&nbsp;3(c) below, the Company shall pay or provide to such Participant the following payments and benefits: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) <U><FONT STYLE="white-space:nowrap">Pro-Rata</FONT> Incentive Award</U>. A <FONT STYLE="white-space:nowrap">Pro-Rata</FONT> Incentive
Award, payable in cash on the first regularly scheduled payroll date after the Release Effectiveness Date; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii) <U>Cash Severance</U>. An
amount equal to such Participant&#146;s applicable Severance Multiple multiplied by the sum of such Participant&#146;s Base Salary and Target Bonus Amount, such amount to be paid, in cash, in equal installments no less frequently than monthly over
the applicable Severance Payment Period beginning with the first payroll period after the Release Effectiveness Date; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii) <U>Health
Benefits Continuation Coverage</U>. Health Benefits Continuation Coverage for the Health Benefits Continuation Period; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iv) <U>LTIP-Type
Awards</U>. The LTI Payment, such amount to be paid, in cash, in equal installments no less frequently than monthly over the applicable Severance Payment Period, beginning with the first payroll period after the Release Effectiveness Date; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(v) <U>Vesting</U>. Any unvested stock options, restricted stock, phantom share awards, share appreciation rights, restricted units, dividend
equivalents and any other awards issued to the Participant pursuant to the Company&#146;s Share Incentive Plan shall immediately vest, provided that LTIP-Type Awards shall be handled in accordance with clause (iv)&nbsp;above and <U>Exhibit
C</U>.&nbsp;With respect to vested option awards, Participant will have until the expiration of the Severance Payment Period applicable to such Participant to exercise any options.&nbsp;Any restricted units that are vested pursuant to this provision
will remain subject to any other restrictions that may be applicable to the terms of such units, including <FONT STYLE="white-space:nowrap">&#147;book-up&#148;</FONT> risk and required holding periods. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Other Termination Events</U>. If a Participant experiences a termination of employment or services with the Company or any of its
Affiliates which does not constitute a Qualifying Termination, the Participant shall not be entitled to the payment of any severance or other benefits under this Plan. Furthermore, if a Participant becomes entitled to severance or other benefits
pursuant to a Change in Control Agreement as a result of a termination, the Change in Control Agreement shall govern, and the Participant shall not be entitled to the payment of any severance or benefits under this Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Release Agreement</U>. Notwithstanding any provision herein to the contrary, the payment of any amount or provision of any benefit
pursuant to subsection (a)&nbsp;above (other than the Accrued Compensation) shall be conditioned upon a Participant&#146;s execution, delivery to the Company, and <FONT STYLE="white-space:nowrap">non-revocation</FONT> of the Release Agreement and
the expiration of any revocation period contained in such Release Agreement within sixty (60)&nbsp;days following the Termination Date. If a Participant fails to execute the Release Agreement in such a timely manner so as to permit any revocation
period to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

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expire prior to the end of such sixty (60)&nbsp;day period, or timely revokes his or her acceptance of such release following its execution, such Participant shall not be entitled to payment of
any severance and other benefits under the Plan (other than the Accrued Compensation). Further, to the extent that any of the payments hereunder constitute &#147;nonqualified deferred compensation&#148; for purposes of Section&nbsp;409A of the Code,
any payment of any amount or provision of any benefit otherwise scheduled to occur prior to the sixtieth (60th) day following the Termination Date, but for the condition on executing the Release Agreement as set forth herein, shall not be made until
the first regularly scheduled payroll date following such sixtieth (60th) day, after which any remaining payments shall thereafter be provided to the Participant according to the applicable schedule set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">4. <B>Additional Terms.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Taxes</U>. Severance, vesting of equity and other payments and benefits under the Plan shall be subject to any required withholding of
federal, state and local taxes pursuant to any applicable law or regulation, and the Company shall remit such amounts to the applicable governmental entity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Other Benefit Plans</U>. Payments under the Plan are not deemed &#147;compensation&#148; for purposes of calculating any contributions
or accruals under the retirement plans, savings plans, and incentive plans of the Company Group, except to the extent specifically required by the terms of such plans. Accordingly, no contributions to the retirement and savings plans of the Company
will be made from the severance payments and other payments and benefits under the Plan, and such plans will not accrue any benefits attributable to payments under the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">5. <B>Termination or Amendment of the Plan</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except as otherwise set forth in a Participation Notice and Agreement, or as may be agreed between the Company and Participant in a written
amendment to such Participant Notice and Agreement, the Plan may be amended, terminated or discontinued in whole or in part, at any time and from time to time at the discretion of the Board or the Committee; <U>provided</U>, <U>however</U> that no
amendment, termination, or discontinuance of either the Plan or any provision of the Plan that has the effect of reducing or diminishing the potential benefits a Participant may receive under the Plan, shall be effective with respect to the
Participant without a written amendment to such Participant&#146;s Participation Notice and Agreement, except for an amendment to the administrative provisions of the Plan that is considered by<B> </B>counsel to be required pursuant to applicable
law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">6. <B>Claims Procedure. </B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>Processing Claims</U>. The processing of claims for benefits and payments under the Plan will be carried out in the time period
required by applicable law. If an individual is not selected for participation in the Plan or does not satisfy the conditions for eligibility in the Plan, he or she is not entitled to benefits and/or payments under this Plan. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <U>Decision</U>. If an individual&#146;s claim for benefits under this Plan is denied,
the individual will receive a written notice within ninety (90)&nbsp;days (in special cases, more than 90 days may be needed and such individual will be notified in this case): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">requesting additional material or information to further support the claim, and the reasons why these are
necessary, </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">setting forth specific reasons as to why the claim was denied, </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">setting forth clear reference to the Plan provisions upon which the denial is based, and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">providing notice of the individual&#146;s right to have the denial reviewed as explained below.
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) <U>Request for Review of Denial of Benefits</U>. The individual or his or her authorized representative may request
a review of his or her claim by giving written notice to the Claims Administrator. Each individual has the right to have representation, review pertinent documents, and present written issues and comments. An individual&#146;s request must be made
not later than 60 days after he or she receives the notice of denial. If an individual fails to act within the <FONT STYLE="white-space:nowrap">60-day</FONT> limit, the individual loses the right to have his or her claim reviewed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) <U>Decision on Review</U>. Upon receipt of a request for review from an individual, the Claims Administrator shall make a full and fair
evaluation and may require additional documents necessary for such a review. The Claims Administrator shall make a decision within 60 days from receipt of the individual&#146;s request. In the event of special circumstances, a decision will be given
to the employee as soon as possible, but not later than 120 days after receipt of the individual&#146;s request for review. The decision on the review shall be in writing and shall include specific reasons for the decision. The final decision of the
Claims Administrator shall be conclusive and binding upon all parties having or claiming to have an interest in the matter being reviewed, subject to Section&nbsp;6(f) below. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) <U>In Case of Clerical Error</U>. If any information regarding an individual is incorrect, and the error affects his or her benefits, the
correct information will determine the extent, if any, of the individual&#146;s benefits under the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(f) <U>No Limitation of
Rights</U>. Nothing in this Section&nbsp;6 shall limit the Participant&#146;s ability to file or bring a claim, proceeding, or legal action for relief with respect to any right or claim for payments or benefits under this Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">7. <B>General Information.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>No Right to Continued Employment</U>. Nothing contained in this Plan shall confer upon any Participant any right to continue in the
employ of any member of the Company Group nor interfere in any way with the right of the Company to terminate his or her employment, with or without cause. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <U>Plan Not Funded</U>. Amounts payable under this Plan shall be payable from the
general assets of the Company, and no special or separate reserve, fund or deposit shall be made to assure payment of such amounts. No Participant, beneficiary or other person shall have any right, title or interest in any fund or in any specific
asset of the Company by reason of participation hereunder. Neither the provisions of this Plan, nor the creation or adoption of this Plan, nor any action taken pursuant to the provisions of this Plan shall create, or be construed to create, a trust
of any kind or a fiduciary relationship between the Company and any Participant, beneficiary or other person. To the extent that a Participant, beneficiary or other person acquires a right to receive payment under this Plan, such right shall be no
greater than the right of any unsecured general creditor of the Company. Notwithstanding the foregoing, the Company shall have the right to implement or set aside funds in a grantor trust, subject to the claims of the Company&#146;s creditors or
otherwise, to discharge its obligations under the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) <U>Discretion of Company, Board and Committee</U>. Any decision made or
action taken by, or inaction of, the Company, the Board, the Committee or the Claims Administrator arising out of or in connection with the creation, amendment, construction, administration, interpretation and effect of this Plan that is within its
authority hereunder or applicable law shall be made in such person&#146;s reasonable, good faith discretion and shall be subject to <I>de novo</I> or similar review by a court or arbitrator. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) <U>Section 409A</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i)
<U>Section</U><U></U><U>&nbsp;409A Compliance</U>. Notwithstanding any provision of the Plan to the contrary, if any benefit provided under this Plan is subject to the provisions of Code Section&nbsp;409A and the regulations issued thereunder, the
provisions of the Plan will be administered, interpreted and construed in a manner necessary to comply with Section&nbsp;409A or an exception thereto. Notwithstanding any provision of the Plan to the contrary, in no event shall the Company (or its
employees, officers or trustees) have any liability to any Participant (or any other person) due to the failure of the Plan to satisfy the requirements of Code Section&nbsp;409A or any other applicable law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) <U>Specified Employees.</U> Notwithstanding anything herein to the contrary, (i)&nbsp;if, at the time of a Participant&#146;s Qualifying
Termination such Participant is a &#147;specified employee&#148; as defined in Code Section&nbsp;409A and regulations thereunder, and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such
termination of employment is necessary in order to prevent the imposition of any<B> </B>accelerated or additional tax under Code Section&nbsp;409A, then the commencement of the payment of any such payments or benefits hereunder will be deferred
(without any reduction or increase in such payments or benefits ultimately paid or provided to the Participant) until the date that is six (6)&nbsp;months following such Participant&#146;s Qualifying Termination (or the earliest date that is
permitted under Code Section&nbsp;409A); and (ii)&nbsp;if any other payments of money or other benefits due to the Participant hereunder would cause the application of an accelerated or additional tax under Code Section&nbsp;409A, such payments or
other benefits shall be deferred if deferral will make such payment or other benefits compliant under Code Section&nbsp;409A, or otherwise such payment or other benefits shall be restructured, to the extent possible, in a manner, determined by or at
the direction of the Committee, that does not cause such an accelerated or additional tax or result in additional cost to the Company; provided, that, the Company shall endeavor to maintain the intended economic benefits of the Plan. The Company
shall consult with its legal counsel and tax advisors in good faith regarding the implementation of this Section; <U>provided</U>, <U>however,</U> that none of the Company, any other member of the Company Group, or any of their respective employees
or representatives, shall have any liability to the Participant with respect thereto. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) <U>No Duplication</U>. The benefits under this Plan replace and supersede any severance
benefits payable upon a termination previously established under Other Severance Arrangements. In no event shall any Participant receive more than the severance benefits provided for herein, and any severance benefits provided under any Other
Severance Arrangement or otherwise, to the extent paid, shall reduce the amounts to be paid hereunder. Notwithstanding the forgoing, the benefits under this plan do <U>not</U> replace or supersede the benefits payable to a participant under a Change
in Control Agreement, and in the event of a Change in Control, the Change in Control Agreements shall govern. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(f) <U>Governing Law</U>.
All questions pertaining to the construction, regulation, validity and effect of the provisions of this Plan shall be determined in accordance with the laws of Illinois, without giving effect to the conflict of laws principles thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(g) <U>Notice</U>. Any notice or other communication required or which may be given pursuant to this Plan shall be in writing and shall be
deemed to have been duly given when delivered by hand or overnight courier or two days after it has been mailed by United States express or registered mail, return receipt requested, postage prepaid, addressed to the Company, at Two North Riverside
Plaza, Suite 500, Chicago, Illinois 60606, Attention: Chairman of the Board with a copy to the General Counsel of the Company; or to the Participant at the Participant&#146;s most recent address on file with the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(h) <U>Captions</U>. Captions and headings are given to the sections and subsections of this Plan solely as a convenience to facilitate
reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Plan or any provision thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) <U>Successors</U>. This Plan shall be binding upon and shall inure to the benefit of the Company, its Successors and Assigns, and the
Company shall require any Successors and Assigns to expressly assume and agree to perform this Plan in the same manner and to the same extent that the Company would be required to perform it if no such succession or assignment had taken place.
Neither this Plan nor any right or interest hereunder shall be assignable or transferable by the Participant, the Participant&#146;s beneficiaries or legal representatives, except by will or by the laws of descent and distribution. This Plan shall
inure to the benefit of and be enforceable by the Participant&#146;s legal personal representative, and therefore the foregoing restriction on assignment shall not apply to an assignment of a contingency or payment due: (1)&nbsp;after the death of a
Participant to the deceased Participant&#146;s legal representative or beneficiary; or (2)&nbsp;after the Disability of a Participant to the disabled Participant&#146;s personal representative. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>

</DIV></Center>


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<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Exhibit A </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EQUITY RESIDENTIAL </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXECUTIVE SEVERANCE PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Participation Notice and Agreement </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Participant: </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="33%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="65%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Qualifying Termination</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:10pt; font-family:Times New Roman"><B>Severance Multiple:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:10pt; font-family:Times New Roman"><B>Health Benefits Continuation Period:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>&#8195;&#8195;&#8195;&#8195;months</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:10pt; font-family:Times New Roman"><B>Severance Payment Period</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>&#8195;&#8195;&#8195;&#8195;months</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">I hereby agree to the terms and conditions of the Equity Residential Executive Severance Plan (the
<U>&#147;Plan&#148;),</U> including the terms set forth in this Participation Notice and Agreement and the Restrictive Covenants (as defined below) incorporated hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">I understand that as a Participant under the Plan (a <U>&#147;Participant&#148;),</U> the terms of the Plan will exclusively govern all
subject matters addressed by the Plan and I understand that, except as expressly provided in any Change in Control Agreement (as defined in the Plan), the Plan supersedes and replaces, as applicable, any and all agreements (including any prior
employment agreement), plans, policies, guidelines or other arrangements, including Other Severance Arrangements (as defined in the Plan), with respect to all subject matters covered under the Plan and my rights to severance upon any Qualifying
Termination (as defined in the Plan). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">I acknowledge and recognize the highly competitive nature of the businesses of the Company Group
(as defined in the Plan), and that I will be allowed access to confidential and proprietary information (including, but not limited to, trade secrets) about those businesses, as well as access to the prospective and actual suppliers, investors, and
partners involved in those businesses, and the goodwill associated with the Company Group. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Accordingly, I agree to be bound by the
provisions of <U>Appendix A</U> to this Participation Notice and Agreement (the <U>&#147;Restrictive Covenants&#148;),</U> which are incorporated into this Participation Notice and Agreement and made a part hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Signed: ____________________ </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: _____________________ </P>
</DIV></Center>


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<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>APPENDIX A </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Restrictive Covenants </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Participant acknowledges and recognizes the highly competitive nature of the business of the Company Group, that the Participant will be allowed access to confidential and proprietary information (including, but not limited to, trade secrets) about
the business, as well as access to the prospective and actual suppliers, investors, and partners involved in the business, and the goodwill associated with the Company Group. Participant accordingly agrees to the provisions of <U>Appendix A</U> to
this Agreement (the &#147;<U>Restrictive Covenants</U>&#148;). For the avoidance of doubt, the Restrictive Covenants contained in this Agreement are in addition to, and not in lieu of, any other restrictive covenants or similar covenants or
agreements between the Participant and any member of the Company Group. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">1. <B><FONT STYLE="white-space:nowrap">Non-Competition;</FONT>
Nonsolicitation.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The Participant acknowledges and recognizes the highly competitive nature of the businesses of the Company Group
and accordingly agrees as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) During the Restricted Period, the Participant will not, without prior written
consent from the Company regarding the specific engagement, employment, or investment proposed, and such consent to be delivered in its sole, good faith discretion, directly or indirectly: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) engage in the Business with or through, or enter the employ of, or render any services to, a Competitor, except where such
employment or services do not relate to the Business; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) acquire a 10% or greater financial interest in a Competitor,
directly or indirectly, as an individual, partner, shareholder, officer, director, principal, agent, trustee or consultant. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) During the Restricted Period, the Participant will not, whether on the Participant&#146;s own behalf or on behalf of or in
conjunction with any Person: (A)&nbsp;stand as a candidate for the Company&#146;s Board unless invited to do so by a majority of the then-current Board; or (B)&nbsp;directly or indirectly solicit or encourage any employee of the Company Group to
leave the employment of the Company Group; provided that any general solicitation of employees, or the use of a search firm making solicitations, that is not targeted to employees of the Company Group, or providing a reference to a third-party
employer, upon request, shall not constitute a breach of this Section&nbsp;1(a)(ii)(B). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) For purposes of this
<U>Appendix A</U>: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) &#147;Business&#148; shall mean the acquisition, development and management of residential
properties in various markets within the United States (and other specific countries, if any, in which the Company is conducting Business at the time of a Qualifying Termination). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) &#147;Competitor&#148; shall mean any individual, corporation, fund, fund family, partnership, or other entity engaged in
the Business in direct competition with the Company and its subsidiaries, owning and/or operating the Business through assets that have an aggregated gross asset value in excess of five billion dollars ($5,000,000,000.00) as reasonably determined by
the Company. For the avoidance of doubt, a &#147;Competitor&#148; includes a fund or series of funds with a common sponsor managing five billion dollars ($5,000,000,000.00) or more in the Business. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>

</DIV></Center>


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<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) &#147;Restricted Period&#148; shall mean the Participant&#146;s
employment or service at the Company, as applicable, and the period equal to the Severance Payment Period following a Qualifying Termination. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) It is expressly understood and agreed that although the Participant and the Company Group consider the restrictions contained in this
Section&nbsp;1 to be reasonable, if a final judicial determination is made by a court of competent jurisdiction that the time or territory or any other restriction contained in this Appendix A is an unenforceable restriction against the Participant,
the provisions of this Appendix A shall not be rendered void but shall be deemed amended to apply as to such maximum time and territory and to such maximum extent as such court may judicially determine or indicate to be enforceable. Alternatively,
if any court of competent jurisdiction finds that any restriction contained in this Appendix A is unenforceable, and such restriction cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of any of the
other restrictions contained herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The period of time during which the provisions of this Section&nbsp;1 shall be in effect shall
be extended by the length of time during which the Participant is in breach of the terms hereof (but only with respect to the term so breached and only if the Company takes steps to contest such breach) as determined by any court of competent
jurisdiction on the Company&#146;s application for injunctive relief. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The provisions of this Section&nbsp;1 shall survive the
termination of the Participant&#146;s employment or service for any reason. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">2. <B>Confidentiality; Intellectual Property.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) <U>Confidentiality</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The
Participant will not at any time (whether during or after the Participant&#146;s employment or engagement, as applicable)&nbsp;(x) retain or use for the benefit, purposes or account of the Participant or any other Person; or (y)&nbsp;disclose,
divulge, reveal, communicate, share, transfer or provide access to any Person outside the Company and its Affiliates (other than its professional advisers who are bound by confidentiality obligations, lenders and partners or otherwise in performance
of the Participant&#146;s employment or engagement duties), any proprietary and <FONT STYLE="white-space:nowrap">non-public/confidential</FONT> information (including without limitation trade secrets,
<FONT STYLE="white-space:nowrap">know-how,</FONT> research and development, software, databases, inventions, processes, formulae, technology, designs and other intellectual property, information concerning finances, investments, profits, pricing,
costs, products, services, vendors, customers, clients, partners, investors, personnel, compensation, recruiting), training, advertising, sales, marketing, promotions, government and regulatory activities and approvals) concerning the past, current
or future business, activities and operations of the Company Group (&#147;<U>Confidential Information</U>&#148;) without the prior written authorization of the Company; <U>provided</U>, <U>however</U> that the conscious awareness of any Confidential
Information (as opposed to the physical possession of documentary Confidential Information) by the Participant, and the Participant&#146;s consideration of such information in connection with the Participant&#146;s pursuit or evaluation of,
involvement with or participation in, any project or activity that is not prohibited by this <U>Appendix A</U> shall be deemed not to constitute a breach of Section&nbsp;2(a)(i)(x) in any manner whatsoever, unless such Participant&#146;s use of such
Confidential Information has an objective and detrimental impact on the business of the Company and its subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii)
&#147;Confidential Information&#148; shall not include any information that is (x)&nbsp;generally known to the industry or the public other than as a result of the Participant&#146;s breach of this covenant; (y)&nbsp;made legitimately available to
the Participant by a third party without breach of any confidentiality obligation of which the Participant has knowledge (it being understood that any information made available by an employee, officer or director of the Company Group shall not be
protected by this exclusion); or (z)&nbsp;required by law, court order or subpoena or governmental or regulatory investigation to be disclosed; <U>provided,</U> that with respect to subsection (z), to the extent permitted by applicable law, the
Participant shall give reasonably prompt written notice to the Company of such requirement and reasonably cooperate, at the Company&#146;s sole expense, with any attempts by the Company to obtain a protective order or similar treatment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>

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<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Upon termination of the Participant&#146;s employment or service for any reason, the
Participant shall (x)&nbsp;except as otherwise provided herein, cease and not thereafter commence use of any Confidential Information or intellectual property (including without limitation, any patent, invention, copyright, trade secret, trademark,
trade name, logo, domain name or other source indicator) owned or used by any member of the Company Group; (y)&nbsp;immediately destroy, delete, or return to the Company, at the Company&#146;s option and expense, all originals and copies in any form
or medium (including memoranda, books, papers, plans, computer files, letters and other data) in the Participant&#146;s possession or control (including any of the foregoing stored or located in the Participant&#146;s office, home, laptop or other
computer, whether or not Company property) that contain Confidential Information, except that the Participant may retain only those portions of any personal notes, notebooks and diaries that do not contain any Confidential Information; and
(z)&nbsp;notify and reasonably cooperate with the Company regarding the delivery or destruction of any other Confidential Information of which the Participant is or becomes aware. Notwithstanding anything to the contrary set forth herein, the
Company hereby acknowledges and agrees that Participant may retain, as Participant&#146;s own property, copies of Participant&#146;s individual personnel documents, such as payroll and tax records, and similar personal records, and
Participant&#146;s address book. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) <U>Intellectual Property</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) If the Participant creates, invents, designs, develops, contributes to or improves any works of authorship, inventions, intellectual
property, materials, documents or other work product (including, without limitation, research, reports, software, databases, systems, applications, presentations, textual works, content, or audiovisual materials), either alone or with third parties,
at any time during the Participant&#146;s employment or engagement and within the scope of such employment or engagement and with the use of any of the Company&#146;s resources (the &#147;<U>Company Works</U>&#148;), the Participant shall promptly
and fully disclose the same to the Company and hereby irrevocably assigns, transfers and conveys, to the maximum extent permitted by applicable law, all rights and intellectual property rights therein (including rights under patent, industrial
property, copyright, trademark, trade secret, unfair competition and related laws) to the Company to the extent ownership of any such rights does not vest originally in the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) The Participant shall take all reasonably requested actions and execute all reasonably requested documents (including any licenses or
assignments required by a government contract) at the Company&#146;s expense (but without further remuneration) to assist the Company in validating, maintaining, protecting, enforcing, perfecting, recording, patenting or registering any of the
Company&#146;s rights in the Company Works. If the Company is unable for any other reason, to secure the Participant&#146;s signature on any document for this purpose, then the Participant hereby irrevocably designates and appoints the Company and
its duly authorized officers and agents as the Participant&#146;s agent and attorney in fact, to act for and in the Participant&#146;s behalf and stead to execute any documents and to do all other lawfully permitted acts required in connection with
the foregoing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) The provisions of Section&nbsp;2 hereof shall survive the termination of the Participant&#146;s employment or
engagement, in either case, for any reason. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) <U>Protected Rights.</U> Nothing contained in this Agreement or any other plan, policy, agreement, or
code of conduct or similar arrangement of the Company Group, limits Participant&#146;s ability to (i)&nbsp;disclose any information to governmental agencies or commissions as may be required by law, (ii)&nbsp;file a charge or complaint with, or
communicate or cooperate with, any U.S. federal, state, or local governmental agency or commission (a &#147;<U>Governmental Entity</U>&#148;), or otherwise participate in any investigation or proceeding that may be conducted by a Governmental Entity
with respect to possible violations of any U.S. federal, state or local law or regulation, or otherwise make disclosures to any Governmental Entity, in each case, that are protected under the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
whistleblower provisions of any such law or regulation, provided that in each case all such charges, complaints, communications and disclosures are consistent with applicable law, or
(iii)&nbsp;receive an award from a Governmental Entity for information provided under any whistleblower program, including the Participant&#146;s right to seek and obtain a whistleblower award for providing information relating to a possible
securities law violation to the Securities and Exchange Commission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">3. <B>Specific Performance. </B>The Participant acknowledges and
agrees that the Company&#146;s remedies at law for a breach or threatened breach of Section&nbsp;1 or 2 of this <U>Appendix A</U> may be inadequate and the Company may suffer irreparable damages as a result of such breach. In recognition of this
fact, the Participant agrees that, in the event of a Restrictive Covenant violation, in addition to any remedies at law, the Company, without posting any bond, shall be entitled to seek equitable relief in the form of specific performance, temporary
restraining order, temporary or permanent injunction or any other equitable remedy which may then be available. For the avoidance of doubt, in addition to any other remedies that the Company may have at law as a result of a Restrictive Covenant
violation by Participant, Participant&#146;s right to continue receiving severance payments and/or health continuation benefits under the Plan shall cease upon a Participant&#146;s Restrictive Covenant violation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Exhibit B </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Benefit Tiers </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With respect to any
Participant, unless otherwise set forth in a Participation Notice and Agreement, the following Severance Multiples, Health Benefits Continuation Periods, and Severance Payment Periods shall apply. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="91%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Benefit&nbsp;Tier</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Eligible Positions, Titles</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Tier&nbsp;A</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Chief Executive Officer</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Tier B</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Executive Vice President (or President if not also Chief Executive Officer)</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Tier&nbsp;A</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Tier&nbsp;B</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Qualifying Termination</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severance Multiple:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2.00x</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">l.50x</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Health Benefits Continuation Period (months):</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severance Payment Period (months):</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Exhibit C </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LTI Payments </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>As to the Effective Date
LTI Awards</U>: All incomplete plans are prorated on the number of days elapsed under each plan in relation to the full 36 months in the performance period, valued as if the performance period ended as of the Termination Date<SUP
STYLE="font-size:75%; vertical-align:top">1</SUP> (or, if the Termination Date occurs on a date subject to a trading lockout, then plans will be valued as of the market close on the 5th trading day after the expiration of the lockout), the resulting
amount will be vested, then paid out in cash per the applicable Severance Payment Period referred to above. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">For example, if a termination occurred on September&nbsp;30, 2024, performance would be calculated as of that
date and the 2022 Long-Term Incentive Plan Award would be prorated to 91.7% (33/36); the 2023 Long-Term Incentive Plan Award would be prorated to 58.3% (21/36); and the 2024 Long-Term Incentive Plan Award would be prorated to 25% (9/36).
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>As to other LTIP-Type Awards</U>: The same terms and conditions as stated above for Effective Date LTI Awards shall apply, except to
the extent that the award document for such LTIP-Type Award provides for a different method that would apply in the case of a Qualifying Termination under the Plan, in which case the terms and conditions under the LTIP-Type Award will govern. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">For purposes of calculating TSR, the Ending Share Price for the Company and the relevant index companies shall
be the closing price of each company&#146;s common shares on the Qualifying Termination Date (as opposed to a trailing average). With respect to the Net Debt to Normalized EBITAre and NFFO Performance Metrics set forth in the Effective Date LTI
Awards, the valuation will be appropriately measured with reference to the Company&#146;s most recent internal reforecast (capitalized terms in this footnote have the meanings ascribed to such terms in the Effective Date LTI Awards).
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Exhibit D </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Release </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>GENERAL
RELEASE AND WAIVER AGREEMENT </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS GENERAL RELEASE AND WAIVER AGREEMENT (this &#147;Release&#148;) is entered into by and between
EQUITY RESIDENTIAL (&#147;Equity&#148;), and ____________ (&#147;Participant&#148;) on ________________, 20___ and shall be effective upon the expiration of the revocation period referred to herein (the &#147;Effective Date&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Participant is eligible to receive certain benefits under Equity&#146;s Executive Severance Plan (the &#147;Plan&#148;), as a result
of Participant&#146;s Qualifying Termination (as defined in the Plan); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, under the Plan it is a condition precedent that
Participant execute a General Release and Waiver Agreement to receive certain benefits thereunder;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the
mutual covenants and promises herein contained, and in the Plan, and for other good and valuable consideration, receipt and sufficiency of which is hereby acknowledged, Participant and Equity voluntarily and knowingly agree as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">1. For the purposes of this Release, the term &#147;Equity&#148; includes:&nbsp;Equity Residential, Equity Residential Management, L.L.C.,
Equity Residential Services, L.L.C., Equity Residential Properties Management Limited Partnership, ERP Operating Limited Partnership, Equity Residential Properties Management Limited Partnership II, Equity Residential Properties Management Corp.,
Equity Residential Properties Management Corp. II, ERP Holding Co. Inc., Equity Residential Services II, L.L.C. and to the extent applicable, as direct intended and third party beneficiaries hereof, their past and present owners, directors,
officers, managers, agents, attorneys, insurers, employees, representatives, trustees, administrators, fiduciaries, parents, subsidiaries, divisions, partners, joint ventures, sister corporations and/or affiliated business entities, predecessors,
successors, heirs, and assigns, jointly and severally, in both their personal and corporate capacities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">2. Except as provided below,
Participant hereby fully, finally, and unconditionally releases Equity from any and all claims, suits, demands, charges, debts, grievances, costs, attorneys&#146; fees or injuries of every kind or nature, whether known or unknown, absolute or
contingent, suspected or unsuspected, which Participant had or now has against Equity based on any matter or thing occurring or arising prior to the date of this Release, including but not limited to claims arising out of or relating to
Participant&#146;s employment with Equity.&nbsp;This release includes, but is not limited to, claims for breach of contract, wrongful discharge or layoff, constructive discharge, retaliatory discharge; claims for wages, bonuses or other
compensation; and claims of any discrimination based on age, color, disability, national origin, race, religion, sex, sexual orientation, including but not limited to claims arising under Title VII of the Civil Rights Act of 1964, the Civil Rights
Act of 1991, the Americans With Disabilities Act, the Age Discrimination In Employment Act Of 1967, the Older Workers Benefit Protection Act, the Equal Pay Act, the Family And Medical Leave Act, the Coronavirus Aid, Relief, and Economic Security
Act, and any amendments to any of these statutes, as well as any state and local statutes and ordinances pertaining to the employment relationship or prohibiting discrimination in employment, including but not limited to the laws of the state
of&nbsp;Illinois, any state in which Participant currently works or lives and any other states or locales in which Equity conducts business. Nothing in this paragraph shall affect or be deemed to compromise Participant&#146;s rights or remedies
under any Equity benefit plan or compensation program in which he or she participates, including but not limited to the Supplemental Executive Retirement Plan, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Advantage Retirement Plan (&#147;401K&#148;), Executive Long-Term Incentive Plan, provisions of the limited partnership agreement of ERP Operating Limited Partnership relating to restricted
units, and the 2011 and 2019 Share Incentive Plans.&nbsp;Also excluded from this release are any claims or administrative charges which cannot be waived by law, claims relating to enforcement of the Executive Severance Plan or this Release, and
claims for indemnification arising under law, <FONT STYLE="white-space:nowrap">by-laws</FONT> or contract.&nbsp;PARTICIPANT UNDERSTANDS AND AGREES THAT THIS RELEASE FOREVER BARS PARTICIPANT FROM SUING, ARBITRATING OR OTHERWISE ASSERTING A CLAIM
AGAINST EQUITY ON ANY RELEASED CLAIM. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">3. The parties agree and acknowledge that should either party violate any term of this Release, the
amount of damages that a party would suffer as a result of such violation would be difficult to ascertain.&nbsp;In the event of a breach by either party of any term of this Release, in addition to injunctive relief or any other damages, the <FONT
STYLE="white-space:nowrap">non-breaching</FONT> party may recover all costs and expense reasonably incurred by it in enforcing this Release or defending against a suit brought in violation of this Release, including reasonable attorneys&#146; fees.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">4. Participant acknowledges that they have been given <FONT STYLE="white-space:nowrap">[twenty-one</FONT> (21)/forty-five (45)] days from
the date he or she received this Release to consider its terms and decide whether or not to sign it. The <FONT STYLE="white-space:nowrap">[twenty-one</FONT> (21)/forty-five (45)] day period started on the day Participant received this Release, and
any changes to this Release, whether or not material, do not restart the running of the <FONT STYLE="white-space:nowrap">[twenty-one</FONT> (21)/forty-five (45)&nbsp;day period]. Participant understands that he or she may revoke this Release at any
time within the seven (7)&nbsp;day period following execution thereof and that this Release shall become effective and enforceable only when the revocation period has expired and Participant has not revoked this Release. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">5. This Release shall be binding upon Equity and its successors and assigns and upon Participant and their respective agents, heirs,
executors, representatives, and assigns. A waiver of any right under this Release must be in writing to be effective. If any portion of this Release is held invalid by operation of law, the remaining terms of this Release shall not be affected. The
language of all parts of this Release shall in all cases be construed as a whole, according to its fair meaning, and not strictly for or against either of the parties.&nbsp;This Release shall be governed by and construed in accordance with the laws
of the State of Illinois (without giving effect to the conflict of laws principles thereof) except to the extent that federal laws apply. This Release cannot be modified, withdrawn, rescinded or supplemented in any manner after the date upon which
it is executed except in a writing signed by both parties. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EQUITY RESIDENTIAL</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">PARTICIPANT</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>

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<element name="SevenPointFiveSevenPercentNotesDueAugustFifteenTwoThousandTwentySixMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="eqr_SevenPointFiveSevenPercentNotesDueAugustFifteenTwoThousandTwentySixMember" substitutionGroup="xbrli:item" />
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</XBRL>
</TEXT>
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<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>4
<FILENAME>eqr-20241212_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<!--Generated by DFIN XBRL Instance Document - http://www.dfinsolutions.com/ - Version R3.0 - on 18-December-2024 [10:56:56] {PM}-->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
<roleRef xlink:type="simple" xlink:href="eqr-20241212.xsd#CoverPage" roleURI="http://www.equityapartments.com/role/CoverPage" />
<calculationLink xlink:type="extended" xlink:role="http://www.equityapartments.com/role/CoverPage">
</calculationLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>5
<FILENAME>eqr-20241212_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<!--Generated by DFIN XBRL Instance Document - http://www.dfinsolutions.com/ - Version R3.0 - on 18-December-2024 [10:56:56] {PM}-->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:xbrldt="http://xbrl.org/2005/xbrldt">
<roleRef xlink:type="simple" xlink:href="eqr-20241212.xsd#CoverPage" roleURI="http://www.equityapartments.com/role/CoverPage" />
<arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/all" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" />
<arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" />
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<arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" />
<arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_1436789" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_dei_LegalEntityAxis_1436788" xlink:to="loc_dei_EntityDomain_1436789" use="optional" order="3" />
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<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_1436904" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_dei_EntitiesTable_1436759" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_1436904" use="optional" order="6" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_1436905" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_1436904" xlink:to="loc_us-gaap_EquityComponentDomain_1436905" use="optional" order="7" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_1436905_default" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_1436904" xlink:to="loc_us-gaap_EquityComponentDomain_1436905_default" use="optional" order="8" />
<loc xlink:type="locator" xlink:href="eqr-20241212.xsd#eqr_SevenPointFiveSevenPercentNotesDueAugustFifteenTwoThousandTwentySixMember" xlink:label="loc_eqr_SevenPointFiveSevenPercentNotesDueAugustFifteenTwoThousandTwentySixMember_1436918" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_DocumentType" xlink:label="loc_dei_DocumentType_1436761" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_AmendmentFlag" xlink:label="loc_dei_AmendmentFlag_1436766" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_AmendmentFlag_1436766" use="optional" order="11" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_dei_DocumentPeriodEndDate_1436762" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityRegistrantName" xlink:label="loc_dei_EntityRegistrantName_1436763" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_EntityRegistrantName_1436763" use="optional" order="13" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityCentralIndexKey" xlink:label="loc_dei_EntityCentralIndexKey_1436764" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_EntityCentralIndexKey_1436764" use="optional" order="14" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_dei_EntityEmergingGrowthCompany_1436787" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_EntityEmergingGrowthCompany_1436787" use="optional" order="15" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityFileNumber" xlink:label="loc_dei_EntityFileNumber_1436765" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_EntityFileNumber_1436765" use="optional" order="16" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_dei_EntityIncorporationStateCountryCode_1436768" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_EntityIncorporationStateCountryCode_1436768" use="optional" order="17" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_dei_EntityTaxIdentificationNumber_1436769" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_EntityTaxIdentificationNumber_1436769" use="optional" order="18" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_dei_EntityAddressAddressLine1_1436772" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_EntityAddressAddressLine1_1436772" use="optional" order="19" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_dei_EntityAddressCityOrTown_1436774" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_EntityAddressCityOrTown_1436774" use="optional" order="20" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_dei_EntityAddressStateOrProvince_1436775" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_EntityAddressStateOrProvince_1436775" use="optional" order="21" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_dei_EntityAddressPostalZipCode_1436777" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_EntityAddressPostalZipCode_1436777" use="optional" order="22" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_CityAreaCode" xlink:label="loc_dei_CityAreaCode_1436778" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_CityAreaCode_1436778" use="optional" order="23" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_LocalPhoneNumber" xlink:label="loc_dei_LocalPhoneNumber_1436779" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_LocalPhoneNumber_1436779" use="optional" order="24" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityInformationFormerLegalOrRegisteredName" xlink:label="loc_dei_EntityInformationFormerLegalOrRegisteredName_1696043" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_EntityInformationFormerLegalOrRegisteredName_1696043" use="optional" order="25" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_WrittenCommunications" xlink:label="loc_dei_WrittenCommunications_1436783" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_WrittenCommunications_1436783" use="optional" order="26" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_SolicitingMaterial" xlink:label="loc_dei_SolicitingMaterial_1436784" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_SolicitingMaterial_1436784" use="optional" order="27" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_PreCommencementTenderOffer" xlink:label="loc_dei_PreCommencementTenderOffer_1436785" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_PreCommencementTenderOffer_1436785" use="optional" order="28" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_dei_PreCommencementIssuerTenderOffer_1436786" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_PreCommencementIssuerTenderOffer_1436786" use="optional" order="29" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_Security12bTitle" xlink:label="loc_dei_Security12bTitle_1436780" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_Security12bTitle_1436780" use="optional" order="30" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_TradingSymbol" xlink:label="loc_dei_TradingSymbol_1436781" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_TradingSymbol_1436781" use="optional" order="31" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_SecurityExchangeName" xlink:label="loc_dei_SecurityExchangeName_1436782" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_SecurityExchangeName_1436782" use="optional" order="32" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_NoTradingSymbolFlag" xlink:label="loc_dei_NoTradingSymbolFlag_1436886" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_1436760" xlink:to="loc_dei_NoTradingSymbolFlag_1436886" use="optional" order="33" />
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</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>6
<FILENAME>eqr-20241212_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<!--Generated by DFIN XBRL Instance Document - http://www.dfinsolutions.com/ - Version R3.0 - on 18-December-2024 [10:56:56] {PM}-->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
<labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_CoverAbstract" xlink:label="loc_dei_CoverAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_CoverAbstract" xml:lang="en-US">Cover [Abstract]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntitiesTable" xml:lang="en-US">Entities [Table]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityInformationLineItems" xml:lang="en-US">Entity Information [Line Items]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_AmendmentFlag" xml:lang="en-US">Amendment Flag</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_CityAreaCode" xml:lang="en-US">City Area Code</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentPeriodEndDate" xml:lang="en-US">Document Period End Date</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityAddressCityOrTown" xml:lang="en-US">Entity Address, City or Town</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityAddressPostalZipCode" xml:lang="en-US">Entity Address, Postal Zip Code</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityCentralIndexKey" xml:lang="en-US">Entity Central Index Key</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_dei_EntityEmergingGrowthCompany" />
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityFileNumber" xml:lang="en-US">Entity File Number</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityInformationFormerLegalOrRegisteredName" xml:lang="en-US">Entity Information, Former Legal or Registered Name</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityRegistrantName" xml:lang="en-US">Entity Registrant Name</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_dei_EntityTaxIdentificationNumber" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityTaxIdentificationNumber" xml:lang="en-US">Entity Tax Identification Number</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_LocalPhoneNumber" xlink:label="loc_dei_LocalPhoneNumber" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_LocalPhoneNumber" xml:lang="en-US">Local Phone Number</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_NoTradingSymbolFlag" xlink:label="loc_dei_NoTradingSymbolFlag" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_NoTradingSymbolFlag" xml:lang="en-US">No Trading Symbol Flag</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_dei_PreCommencementIssuerTenderOffer" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_PreCommencementIssuerTenderOffer" xml:lang="en-US">Pre-commencement Issuer Tender Offer</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_PreCommencementTenderOffer" xml:lang="en-US">Pre-commencement Tender Offer</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_WrittenCommunications" xml:lang="en-US">Written Communications</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_LegalEntityAxis" xml:lang="en-US">Legal Entity [Axis]</label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>7
<FILENAME>eqr-20241212_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_dei_EntityAddressPostalZipCode_1436777" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_Security12bTitle" xlink:label="loc_dei_Security12bTitle_1436780" />
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<TYPE>XML
<SEQUENCE>9
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.24.4</span><table class="report" border="0" cellspacing="2" id="idm45919041896496">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover Page<br></strong></div></th>
<th class="th"><div>Dec. 12, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 12,  2024<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">EQUITY RESIDENTIAL<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000906107<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-12252<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">MD<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">13-3675988<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">Two North Riverside Plaza<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Chicago<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">IL<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">60606<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">312<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">474-1300<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationFormerLegalOrRegisteredName', window );">Entity Information, Former Legal or Registered Name</a></td>
<td class="text">Not applicable<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Shares of Beneficial Interest, $0.01 Par Value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">EQR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=eqr_ErpOperatingLimitedPartnershipMember', window );">ERP Operating Limited Partnership [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">ERP OPERATING LIMITED PARTNERSHIP<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001364169<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">0-24920<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">IL<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">36-3894853<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=eqr_ErpOperatingLimitedPartnershipMember', window );">ERP Operating Limited Partnership [Member] | 7.57% Notes due August 15, 2026 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">7.57% Notes due August 15, 2026<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_NoTradingSymbolFlag', window );">No Trading Symbol Flag</a></td>
<td class="text">true<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInformationFormerLegalOrRegisteredName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Former Legal or Registered Name of an entity</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInformationFormerLegalOrRegisteredName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>dei:employerIdItemType</td>
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<td>na</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_NoTradingSymbolFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a security having no trading symbol.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_NoTradingSymbolFlag</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>dei:trueItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>xbrli:booleanItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14a<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>dei:tradingSymbolItemType</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>xbrli:booleanItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
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<td style="white-space:nowrap;">dei_LegalEntityAxis=eqr_ErpOperatingLimitedPartnershipMember</td>
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<td>na</td>
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