2019 ANNUAL INCENTIVE PLAN
(Adopted by the Compensation Committee of the Board of Directors
of the Company on February 22, 2019)
Equinix, Inc., a Delaware corporation (the “Company”), offers the 2019 Annual Incentive Plan, as amended from time to time (the “2019 AIP”), to eligible employees of the Company and its subsidiaries to provide them with the opportunity to participate in Company performance. It is designed to motivate employees to achieve certain Company objectives while providing competitive total rewards for key positions and retaining top talent.
For purposes of the 2019 AIP, the following terms shall have the meanings specified below, unless the context clearly indicates otherwise. The singular pronoun shall include the plural where the context so indicates.
AFFO - “AFFO” means adjusted funds from operations.
AFFO/Share - “AFFO/Share” means the Company’s AFFO for the year ending December 31, 2019 divided by the weighted average number of diluted shares of common stock outstanding on December 31, 2019 as set forth in the Company’s audited financial statements for the year ended
December 31, 2019.
Applicable Accounting Standards - “Applicable Accounting Standards” means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.
Base Salary - “Base Salary” shall mean, for a Participant other than Executive Staff, the Participant’s total base salary paid during the Performance Period, and for a Participant who is Executive Staff, the base salary rate that is approved by the Committee for the Participant with respect to the Performance Period.
Bonus Award - “Bonus Award” means a bonus award granted pursuant to the 2019 AIP entitling the Participant to cash, shares of Common Stock, or RSUs under the Equity Incentive Plan upon attainment of the Performance Goals and the satisfaction of the other terms and conditions set forth herein and in accordance with the provisions of the 2019 AIP.
Bonus Award Payment - “Bonus Award Payment” means the amount payable to a Participant with respect to the Participant’s Bonus Award, as determined by the Committee in accordance with the section of the 2019 AIP with the heading “Payment of Awards.”
Bonus Target - “Bonus Target” means a percentage of a Participant’s Base Salary established by the Committee.
Bonus Target Amount - “Bonus Target Amount” means an amount equal to (a) the product of (i) the Participant’s Base Salary, multiplied by (b) the Participant’s Bonus Target.
Code - “Code” means the Internal Revenue Code of 1986, as amended.
Committee - “Committee” means the Compensation Committee with respect to the administration of the 2019 AIP with respect to Participants who are Executive Staff and means a committee consisting of the Chief Executive Officer of the Company with respect to Participants who are not Executive Staff.
Compensation Committee - “Compensation Committee” means the Compensation Committee of the Board of Directors of the Company.
Common Stock - “Common Stock” means the common stock, par value $0.001 per share, of the Company.