SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

This Second Amendment to Employment Agreement (this 'Amendment'), dated as of August 24, 2021, by and between American Campus Communities, Inc. (the 'Company') and Jennifer Beese ('Executive').

WHEREAS, the Company and Executive have entered into an employment agreement dated as of October 16, 2013, as amended (the 'Employment Agreement'); and

WHEREAS, the Company and Executive desire to further amend the Employment Agreement as set forth herein.

NOW, THEREFORE, the Company and Executive agree as follows:

1. Position, Duties and Responsibilities. Section 3(a) of the Employment Agreement is amended to delete 'Executive Vice President and Chief Operating Officer' and replace it with 'President and Chief Operating Officer.' It is currently contemplated that Executive will report to the Chief Executive Officer of the Company.

2. Base Salary. Section 4(a) of the Employment Agreement is amended by deleting '$245,000' and replacing it with '550,000.'

3. Capitalized Terms. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Employment Agreement.

4. Ratification. Except as otherwise expressly provided in this Amendment, the Employment Agreement is hereby ratified and confirmed and shall continue in full force and effect in accordance with its terms.

5. Counterparts. This Amendment may be executed in identical counterparts, which when taken together shall constitute one and the same instrument. A counterpart transmitted by facsimile shall be deemed an original for all purposes.

IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written.

AMERICAN CAMPUS COMMUNITIES, INC.
By:

/s/ William C. Bayless, Jr.

William C. Bayless, Jr.
Chief Executive Officer

/s/ Jennifer Beese

Jennifer Beese

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American Campus Communities Inc. published this content on 26 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2021 08:31:13 UTC.