EXHIBIT 10.57
*CONFIDENTIAL TREATMENT REQUESTED
CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE
SECURITIES EXCHANGE COMMISSION.
 
 
 
 
FIRST AMENDMENT TO LEASE AGREEMENT
 
THIS FIRST AMENDMENT TO LEASE AGREEMENT (“First Amendment”) is made and dated as
of October 1, 2002, between [*], LLC, a Delaware limited liability company
(“Landlord”), and EQUINIX OPERATING CO., INC., a Delaware corporation
(“Tenant”).
 
A.        Landlord and Tenant entered into that certain Lease Agreement dated as
of January 28, 2000 (the “Lease”), with respect to certain premises located at
2450 Bayshore Parkway, Mountain View, California. Unless otherwise defined in
this First Amendment, initially-capitalized terms used herein shall have the
meanings set forth in the Lease.
 
B.        Landlord and Tenant desire to amend the Lease upon the terms and
conditions set forth herein.
 
NOW THEREFORE, in consideration of the foregoing Recitals, the mutual covenants
and agreements contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Landlord and
Tenant agree, and amend the Lease as follows:
 
1.        Termination Option.    Subject to the terms hereof, effective as of
the ninety-first (91st ) day after delivery of the Termination Option Fee, as
defined below (with such 91st day being the “Option Date”), Tenant shall have a
one time option to terminate this Lease (the “Termination Option”), which
Termination Option is subject to the condition precedent that no voluntary or
involuntary petition in bankruptcy naming Tenant as debtor has been filed, and
no general assignment for the benefit of creditors has been made by Tenant prior
to the termination of the Lease. If any petition in bankruptcy in respect of
Tenant shall be filed, or any assignment for the benefit of creditors has been
made by Tenant prior to the termination of the Lease, then Tenant shall not be
granted the Termination Option. Tenant’s right to be eligible for the
Termination Option shall extend for a period commencing on the date hereof and
ending on October 31, 2002 (the “Termination Option Period”). In order to be
eligible to exercise the Termination Option, Tenant shall pay the Termination
Option Fee prior to the end of the Termination Option Period. If Tenant becomes
eligible for the Termination Option by paying the Termination Option Fee as set
forth in this Section 1, then Tenant be entitled to exercise the Termination
Option on the Option Date by giving notice to Landlord. If Tenant exercises the
Termination Option, the termination of the Lease shall be effective as April 1,
2003 (with such day being the “Termination Date”), subject to extension as set
forth below. Tenant shall continue to meet all of its obligations under the
Lease, including the payment of Rent, through the Termination Date. If Tenant
does not pay the Termination Option Fee during the Termination Option Period,
then Tenant shall have no option to terminate the

*CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

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Lease, and the Lease shall remain in full force and effect. Tenant’s right to
exercise the Termination Option shall be subject to the condition that Tenant
shall not be in Default under the Lease beyond any applicable cure period
provided in the Lease, and if Tenant is in Default beyond any applicable cure
period, then any effort to exercise the Termination Option, whether occurring
before or after any Default by Tenant, shall be null and void. The “Termination
Option Fee” shall mean an amount equal to [*] and is given to Landlord by Tenant
in consideration of Landlord’s agreement to grant the Termination Option. The
Termination Option Fee shall be deemed to be earned by Landlord upon payment of
the Termination Option Fee by Tenant. The Termination Date shall automatically
be extended by one day for every two days after October 1, 2002 that the payment
of the Termination Option Fee is delayed, and if the Termination Option Fee is
not paid by the end of the business day on October 31, 2002, the Termination
Option shall not be granted.
 
2.        Termination of the Lease.    In the event that Tenant elects to
exercise the Termination Option in accordance with all of the provisions of
Section 1 above, then provided that Tenant delivers the Premises to Landlord on
or prior to the Termination Date in compliance with the terms of the Lease,
Landlord hereby agrees, in further consideration of the mutual covenants of the
parties hereunder, to pay to Tenant within 30 days after the delivery of the
Premises to Landlord, the Departure Fee. The “Departure Fee” shall mean an
amount equal to [*].
 
3.        Governing Law.    This First Amendment shall be governed by, and
construed and enforced in accordance with, the laws of the State of California.
 
4.        Counterparts.    This First Amendment may be executed in any number of
counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which counterparts taken together shall constitute but
one and the same instrument. Signature pages may be detached from the
counterparts and attached to a single copy of this First Amendment to physically
form one document.
 
5.        Reaffirmation of Obligations.    Tenant hereby acknowledges and
reaffirms all of its obligations under the Lease, as such Lease has been amended
by this First Amendment, and agrees that any reference made in any other
document to the Lease shall mean the Lease as amended pursuant to this First
Amendment. Except as expressly provided herein, the Lease remains unmodified and
in full force and effect. Any breach by Tenant of this First Amendment shall
constitute a breach and default by Tenant under the Lease.
 
6.        Time of Essence.    Time is of the essence with respect to each
provision of this First Amendment.
 
7.        Confidentiality.
 
A.        Confidentiality.    Tenant hereby agrees that, except as otherwise
provided herein, (i) Tenant shall hold the Confidential Information (as defined
in subsection (c) below)

*CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

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in strict confidence, and (ii) Tenant shall not disclose the Confidential
Information to any third party, except as expressly authorized in writing by
Landlord, or as permitted herein. Tenant shall use the same degree of care to
prevent misuse of the Confidential Information as Tenant uses with respect to
its own proprietary information, but in no event with less than reasonable care.
Tenant shall immediately notify Landlord in the event of any loss or
unauthorized disclosure of any Confidential Information.
 
B.        Disclosures.    Tenant may disclose the Confidential Information to
its agents, employees, senior lenders, financial investors and attorneys with a
need to know such information, provided that any person to whom any of the
Confidential Information is delivered is informed by Tenant of the strictly
confidential nature of the Confidential Information and such person agrees in
writing to be bound by confidentiality restrictions at least as restrictive as
those contained herein. If Tenant is required by any law or any order of any
court, governmental, regulatory, or self-regulatory body (a “Legal Requirement”)
to make any disclosure about any of the Confidential Information, Tenant shall
immediately notify Landlord, in writing, of such Legal Requirement and the
action recommended by Tenant, and Tenant shall use diligent efforts to obtain,
or to assist Landlord in obtaining, a protective order preventing or limiting
the disclosure and/or requiring such Confidential Information so disclosed to be
used only for the purposes for which the law or regulation required, or for
which the order was issued. Tenant shall be liable for any actions by any person
or entity to whom it discloses any of the Confidential Information whose actions
are not in accordance with the provisions of this Section.
 
C.        Definition.    “Confidential Information” shall mean all of the
material terms, covenants, conditions or agreements set forth in this First
Amendment.
 
D.        Survival.    The provisions of this Section shall survive any
expiration or termination of this Letter of Intent and shall be binding upon
Tenant’s heirs, successors and assigns.
 
E.        Remedies.    Tenant hereby agrees that any breach of this Section 7
shall cause Landlord irreparable damage for which recovery of damages would be
inadequate, and that Landlord shall therefore be entitled to obtain timely
injunctive relief, as well as such further relief or award as may be granted by
a court of competent jurisdiction, including monetary damages. Tenant hereby
waives any right to oppose any action by Landlord for injunctive relief to
prevent a violation of this Section 7. In the event Tenant or any of its
representatives or agents fails in any respect to comply with its obligations
under this Section 7 of this First Amendment, Tenant shall be liable for and
shall indemnify, hold harmless and (at Landlord’s option) defend Landlord, its
affiliates, and their respective subsidiaries, representatives and attorneys,
from and against any and all losses, damages, claims, costs, expenses and
liabilities of whatever nature (including actual attorneys’ fees and expenses)
directly or indirectly resulting from or arising out of Tenant’s or any of its
representatives’ or agents’ breach of this Section 7 of this First Amendment.
Tenant agrees that should it become necessary to enforce this Section 7 of this
First Amendment in any forum, the prevailing party shall be entitled to the
actual fees and expenses of its attorneys, together with all costs of said
enforcement action.

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[SIGNATURES APPEAR ON FOLLOWING PAGE]
 

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IN WITNESS WHEREOF, Landlord and Tenant have caused this First Amendment to be
duly executed and delivered as of the date first above written.
 
 
“Tenant”
EQUINIX OPERATING CO., INC.,
a Delaware corporation
By:
 
    /s/    RENEE F. LANAM        

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Its:
 
Chief Financial Officer and General Counsel

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“Landlord”
[*]
a Delaware limited liability company
By:
 
    [*]

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a Delaware limited partnership, managing member
By:
 
    [*]

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a Maryland corporation, general partner
By:
 
    /s/    PETER J. NELSON

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Name:
 
    Peter J. Nelson

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Its:
 
Senior Vice President and Chief Financial Officer

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*  CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

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