Second Amendment to Health Care Property Investors, Inc. Executive Retirement Plan

Summary

This amendment, effective May 1, 2000, modifies the Health Care Property Investors, Inc. Executive Retirement Plan. It removes the offset for Social Security and 401(k) benefits, and updates the calculation of retirement benefits for executives. The annual retirement benefit is now set at 30% of final average earnings, plus an additional 4% for each year of service after age 60, up to five years. All other terms of the plan remain unchanged.

EX-10.22 3 dex1022.txt AMENDMENT NO. 2 TO HCPI EXECUTIVE RETIREMENT PLAN Exhibit 10.22 SECOND AMENDMENT TO THE HEALTH CARE PROPERTY INVESTORS, INC. EXECUTIVE RETIREMENT PLAN Health Care Property Investors, Inc., a corporation organized under the laws of the State of Maryland (the "Company"), adopted the Health Care Property Investors, Inc. Executive Retirement Plan (the "Plan") effective as of May 1, 1988. The Plan was amended effective as of January 1, 1993. In order to amend the Plan to eliminate the retirement benefit offset for Social Security benefits and benefits payable under the Company's 401(k) Savings Plan, this Second Amendment to the Plan has been adopted by a resolution of the Compensation Committee of the Board of Directors of the Company effective as of May 1, 2000. 1. Sections 1.2, 1.3, 1.9 and 1.14 are deleted in their entirety. 2. Section 3.1 of the Plan is hereby amended to read in its entirety as follows: 3.1 The annual retirement benefit payable to a Participant for --- his lifetime at a Normal Retirement Date under the Plan shall be equal to 30% of Final Average Earnings plus 4% of Final Average Earnings times years of Service after age 60 to a maximum of 5 years. 3. This Second Amendment to the Plan shall be and is hereby incorporated in and forms a part of the Plan. 4. Except as set forth herein, the Plan shall remain in full force and effect.