Prepared by R.R. Donnelley Financial -- EX-10.35




 Exhibit 10.35 

PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT (US) 

This Restricted Stock Unit Agreement (this “Agreement”), dated as of
                     (the “Grant Date”), is made by and between Digital Realty Trust, Inc., a Maryland corporation
(the “Company”) and                      (“Grantee”). 

WHEREAS, the Company maintains the First Amended and Restated Digital Realty Trust, Inc., Digital Services, Inc. and Digital Realty
Trust, L.P. 2004 Incentive Award Plan (as amended from time to time, the “Plan”); 
 WHEREAS, the Company
wishes to carry out the Plan (the terms of which are hereby incorporated by reference and made a part of this Agreement); 
 WHEREAS,
Section 8.6 of the Plan provides for the issuance of Restricted Stock Units (“RSUs”); 
 WHEREAS, the
Committee, appointed to administer the Plan, has determined that it would be to the advantage and in the best interest of the Company and its stockholders to issue RSUs to Grantee as an inducement to enter into or remain in the service of the
Company, Digital Realty Trust, L.P. (the “Partnership”) or any Subsidiary, and as an additional incentive during such service, and has advised the Company thereof. 

NOW, THEREFORE, in consideration of the mutual covenants herein contained and for other good and valuable consideration, the receipt of
which is hereby acknowledged, the parties hereto do hereby agree as follows: 
 1. Issuance of Award of RSUs. Pursuant to the Plan,
in consideration of Grantee’s agreement to provide services to the Company, the Partnership or any Subsidiary (as applicable), the Company hereby issues to the Grantee an award of
                     RSUs. Each RSU that vests in full (and ceases to be subject to the Restrictions) shall represent the right to receive
payment, in accordance with this Agreement, of one share of the Company’s common stock, par value $0.01 per share (the “Common Stock”). Unless and until an RSU vests, Grantee will have no right to payment in respect of
any such RSU. Prior to actual payment in respect of any vested RSU, such RSU will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. 

2. Dividend Equivalents. Each RSU granted hereunder that becomes a Performance Vested RSU is hereby granted in tandem with a
corresponding Dividend Equivalent, which Dividend Equivalent shall remain outstanding from the Grant Date until the earlier of the payment or forfeiture of the RSU to which it corresponds. Pursuant to each outstanding Dividend Equivalent, Grantee
shall be entitled to receive payments equal to dividends paid, if any, on the shares of Common Stock underlying the Performance Vested RSU to which such Dividend Equivalent relates, payable in the same form and amounts as dividends paid to each
holder of a share of Common Stock. Each such payment shall be made no later than thirty (30) days following the applicable dividend payment date, provided that no such payments shall be made prior to the date on which the Performance Vested RSU
becomes a Performance Vested RSU, and any Dividend Equivalent payments that would have been made prior to such date had the Performance Vested RSU been a Performance Vested RSU, plus (or minus) the amount of gain (or loss) on such amounts had they
been reinvested in Common Stock on the date on which the corresponding dividend was paid (at a price equal to the closing price of the Common Stock on the applicable dividend payment date), shall be paid in a single lump sum no later than sixty
(60) days following the date on which the Performance Vested RSU becomes a Performance Vested RSU (such payment date, the “Accumulated Dividend Payment Date”). Dividend Equivalents shall not entitle Grantee to any
payments relating to dividends paid after the earlier to occur of the payment or forfeiture of the Performance Vested RSU underlying such Dividend Equivalent, and Grantee shall not be entitled to any Dividend Equivalent payment with respect to any
RSU that does not become a Performance Vested RSU. In addition, notwithstanding the foregoing, in the event 

  
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of a termination of Grantee’s status as a Services Provider for any reason following the Accumulated Dividend Payment Date, Grantee shall not be entitled to any Dividend Equivalent payments
with respect to dividends declared prior to the date of such termination on shares of Common Stock underlying RSUs which are unvested as of the date of such termination (after taking into account any accelerated vesting that occurs in connection
with such termination). Dividend Equivalents and any amounts that may become distributable in respect thereof shall be treated separately from the RSUs and the rights arising in connection therewith for purposes of the designation of time and form
of payments required by Section 409A of the Code. 
 3. Definitions. For purposes of this Agreement, the following terms shall
have the meanings set forth below. All capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Plan. 

(a) “Cause” means “Cause” as defined in Grantee’s employment agreement (or employment offer letter, as
applicable) with the Company, the Partnership or any Subsidiary as in effect as of the Grant Date if such agreement exists and contains a definition of Cause, or, if no such employment agreement (or employment offer letter, as applicable) exists or
such employment agreement (or employment offer letter, as applicable) does not contain a definition of Cause, then “Cause” means (i) Grantee’s willful and continued failure to substantially perform his or her duties with the
Company or its subsidiaries or affiliates (other than any such failure resulting from Grantee’s incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to Grantee, which demand specifically
identifies the manner in which the Company believes that Grantee has not substantially performed his or her duties; (ii) Grantee’s willful commission of an act of fraud or dishonesty resulting in economic or financial injury to the Company
or its subsidiaries or affiliates; (iii) Grantee’s conviction of, or entry by Grantee of a guilty or no contest plea to, the commission of a felony or a crime involving moral turpitude; (iv) a willful breach by Grantee of any
fiduciary duty owed to the Company which results in economic or other injury to the Company or its subsidiaries or affiliates; (v) Grantee’s willful and gross misconduct in the performance of his or her duties that results in economic or
other injury to the Company or its subsidiaries or affiliates; or (vi) a material breach by Grantee of any of his or her obligations under any agreement with the Company or its subsidiaries or affiliates after written notice is delivered to
Grantee which specifically identifies such breach. For purposes of this provision, no act or failure to act on Grantee’s part will be considered “willful” unless it is done, or omitted to be done, by Grantee in bad faith or without
reasonable belief that his or her action or omission was in the best interests of the Company. 
 (b) “Company TSR
Percentage” means the compounded annual growth rate, expressed as a percentage (rounded to the nearest tenth of a percent (0.1%)), in the value per share of Common Stock during the Performance Period due to the appreciation in the price
per share of Common Stock plus dividends declared during the Performance Period, assuming dividends are reinvested in Common Stock on the date that they were paid (at a price equal to the closing price of the Common Stock on the applicable dividend
payment date). The Company TSR Percentage shall be calculated in accordance with the total shareholder return calculation methodology used in the MSCI REIT Index (and, for the avoidance of doubt, assuming the reinvestment of all dividends paid on
Stock); provided, however, that for purposes of calculating total shareholder return for any Performance Period, the initial share price shall equal the closing price of a share of Common Stock on the principal securities exchange on which
such shares are then traded on the first day of the Performance Period, and the final share price as of any given date shall be equal to the Share Value. 

(c) “Disability” means a disability that qualifies or, had Grantee been a participant, would qualify Grantee to
receive long-term disability payments under the Company’s group long-term disability insurance plan or program, as it may be amended from time to time. 

(d) “Good Reason” means “Good Reason” as defined in Grantee’s employment agreement (or employment offer
letter, as applicable) with the Company, the Partnership or any Subsidiary as in effect as of the Grant Date if such agreement exists and contains a definition of Good Reason, or, if no such employment


  
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agreement (or employment offer letter, as applicable) exists or such employment agreement (or employment offer letter, as applicable) does not contain a definition of Good Reason, then “Good
Reason” means, without Grantee’s prior written consent, the relocation of the Company’s offices at which Grantee is principally employed (the “Principal Location”) to a location more than forty-five
(45) miles from such location, or the Company’s requiring Grantee to be based at a location more than forty-five (45) miles from the Principal Location, except for required travel on Company business. Notwithstanding the foregoing,
Grantee will not be deemed to have resigned for Good Reason unless (x) Grantee provides the Company with notice of the circumstances constituting Good Reason within sixty (60) days after the initial occurrence or existence of such
circumstances, (y) the Company fails to correct the circumstance so identified within 30 days after the receipt of such notice (if capable of correction), and (z) the date of termination of Grantee’s employment occurs no later than
one hundred eighty (180) days after the initial occurrence of the event constituting Good Reason. 
 (e) “MSCI REIT
Index” means the total return version of the MSCI US REIT Index (currently known as the “RMS”), or, in the event such index is discontinued or its methodology is significantly changed, a comparable index selected by the
Committee in good faith. 
 (f) “MSCI Index Relative Performance” means the Company TSR Percentage less the MSCI
Index TSR Percentage, expressed in basis points. 
 (g) “MSCI Index TSR Percentage” means the compounded annual
growth rate, expressed as a percentage (rounded to the nearest tenth of a percent (0.1%)), in the value of the MSCI REIT Index during the Performance Period, calculated in a manner consistent with Section 3(b) above from publicly available
information. 
 (h) “Performance Period” means the period set forth on Exhibit A attached hereto. 

(i) “Performance Vesting Percentage” means a function of the MSCI Index Relative Performance during the Performance
Period, and shall be determined as set forth on Exhibit A attached hereto. 
 (j) “Performance Vested RSUs”
means the product of (i) the total number of RSUs granted hereby, and (ii) the applicable Performance Vesting Percentage. 
 (k)
“Qualifying Termination” means a termination of Grantee’s status as a Service Provider by reason of (i) Grantee’s death, (ii) a termination by the Company, the Partnership or any Subsidiary due to
Grantee’s disability, (iii) a termination by the Company, the Partnership or any Subsidiary other than for Cause, or (iv) a termination by Grantee for Good Reason. 

(l) “Restrictions” means the exposure to forfeiture set forth in Sections 5(a) and 6. 

(m) “Retirement” means Grantee’s voluntary retirement from his or her service as an Employee or member of the
Board at a time when Grantee has (i) attained at least fifty-five (55) years of age, and (ii) completed at least ten (10) Years of Service with the Company, the Partnership or a Subsidiary, provided that Grantee has provided the
Company or the Partnership with at least twelve (12) months’ advance written notice of Grantee’s retirement. For avoidance of doubt, if Grantee’s status as a Service Provider terminates for any reason during such notice period,
Grantee’s status as a Service Provider shall not be deemed to have terminated by reason of his or her Retirement for purposes of this Agreement. 

(n) “Service Provider” means an Employee, Consultant or member of the Board. For purposes of this Agreement, a Grantee
who is both an Employee and a member of the Board shall not cease to be a Service Provider unless and until his or her status as both an Employee and Board member has terminated. In addition, unless otherwise determined by the Committee, a Grantee
shall not cease to be a Service Provider in the case of a termination of the Grantee’s employment or directorship where there is established a continuing consulting relationship between the Grantee and the Company, the Partnership or any
Subsidiary. 

  
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 (o) “Share Value,” as of any given date, means the average of the closing
trading prices of a share of Common Stock on the principal exchange on which such shares are then traded for each trading day during the thirty (30) consecutive calendar days ending on such date; provided, however, that if the last day
of the Performance Period is the date on which a Change in Control occurs, Share Value shall mean the price per share of Common Stock paid by the acquiror in the Change in Control transaction or, to the extent that the consideration in the Change in
Control transaction is paid in stock of the acquiror or its affiliates, then, unless otherwise determined by the Committee, Share Value shall mean the value of the consideration paid per share based on the average of the high and low trading prices
of a share of such acquiror stock on the principal exchange on which such shares are then traded on the date on which a Change in Control occurs. 

(p) “Unvested RSU” means any RSU (including any Performance Vested RSU) that has not become fully vested pursuant to
Section 5 hereof and remains subject to the Restrictions. 
 (q) “Vesting Date” means any date on which an RSU
vests (with respect to both time-vesting and performance-vesting conditions) and ceases to be subject to the Restrictions. 
 (r)
“Years of Service” means the aggregate period of time, expressed as a number of whole years and fractions thereof, during which Grantee was a member of the Board or served as an Employee in paid status. 

4. RSUs and Dividend Equivalents Subject to the Plan; Ownership and Transfer Restrictions. 

(a) The RSUs and Dividend Equivalents are subject to the terms, definitions and provisions of the Plan, which is incorporated herein by
reference, including, without limitation, the restrictions on transfer set forth in Section 10.3 of the Plan and the REIT restrictions set forth in Section 15.15 of the Plan. 

(b) Without limiting the foregoing, the RSUs and Common Stock issuable with respect thereto shall be subject to the restrictions on ownership
and transfer set forth in the Articles of Amendment and Restatement of the Company, as amended and supplemented from time to time 
 5.
Vesting. 
 (a) Performance Vesting. As soon as reasonably practicable following the completion of the Performance Period, the
Committee shall determine the Company TSR Percentage, the MSCI Index TSR Percentage, the MSCI Index Relative Performance, the Performance Vesting Percentage and the number of RSUs granted hereby that have become Performance Vested RSUs as of the
completion of the Performance Period. Any RSUs granted hereby which have not become Performance Vested Units as of the completion of the Performance Period will automatically be cancelled and forfeited without payment of any consideration therefor,
and Grantee shall have no further right or interest in or with respect to such RSUs. 
 (b) Time Vesting. Subject to Sections 5(c)
below, the Restrictions set forth in Section 6 below applicable to any outstanding Performance Vested RSUs (if any) will lapse and such Performance Vested RSUs shall become fully vested and nonforfeitable in accordance with and subject to the
time vesting schedule set forth on Exhibit A attached hereto, subject to Grantee’s continued status as a Service Provider through each applicable vesting date. 

(c) Change in Control. Notwithstanding the foregoing, in the event of the consummation of a Change in Control, the Restrictions set
forth in Section 6 below applicable to any outstanding Performance 

  
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Vested RSUs (if any) (after taking into account any RSUs that become Performance Vested RSUs in connection with such Change in Control) shall lapse and such Performance Vested RSUs shall vest in
full and become nonforfeitable immediately prior to such Change in Control, subject to Grantee’s continued status as a Service Provider until at least immediately prior to such Change in Control. 

6. Effect of Termination of Service. 

(a) Termination of Service. Subject to Section 6(b)(i) and (ii) below, in the event of the termination of Grantee’s
status as a Service Provider for any reason, any and all Unvested RSUs as of the date on which Grantee’s status as a Service Provider terminates (after taking into account any accelerated vesting that occurs in connection with such termination)
will automatically be cancelled and forfeited without payment of any consideration therefor, and Grantee shall have no further right or interest in or with respect to such Unvested RSUs. Except as set forth in Sections 6(b)(i) and (ii) below,
no Unvested RSUs as of the date on which Grantee’s status as a Service Provider terminates shall thereafter become vested. 
 (b)
Qualifying Termination; Retirement. 
 (i) In the event that Grantee incurs a Qualifying Termination due to
Grantee’s death or disability prior to the completion of the Performance Period, the RSUs granted hereby shall remain outstanding and eligible to become Performance Vested RSUs in accordance with Section 5(a) above. In such event,
following the completion of the Performance Period, the Restrictions set forth in Section 6(a) above shall lapse with respect to the number of RSUs that become Performance Vested RSUs in accordance with Section 5(a) above (if any) as of
the completion of the Performance Period, and such RSUs shall thereupon become fully vested. Any RSUs that do not become fully vested in accordance with the preceding sentence will automatically be cancelled and forfeited as of the completion of the
Performance Period without payment of any consideration therefor, and Grantee shall have no further right or interest in or with respect to such RSUs. 

(ii) In the event that Grantee incurs a Qualifying Termination due to a termination by the Company, the Partnership or any
Subsidiary other than for Cause or by Grantee for Good Reason or in the event that Grantee ceases to be a Service Provider by reason of Grantee’s Retirement, in any case, prior to the completion of the Performance Period, the RSUs granted
hereby shall remain outstanding and eligible to become Performance Vested RSUs in accordance with Section 5(a) above. In such event, following the completion of the Performance Period, the Restrictions set forth in Section 6(a) above shall
lapse with respect to a number of RSUs equal to the product of (x) the number of RSUs that become Performance Vested RSUs in accordance with Section 5(a) above (if any) as of the completion of the Performance Period, and (y) a
fraction, the numerator of which is the number of days elapsed from the first day of the Performance Period through and including the date of Grantee’s Qualifying Termination or Retirement, as applicable, and the denominator of which is the
number of days in the completed Performance Period, and such RSUs shall thereupon become fully vested. Any RSUs (including any Performance Vested RSUs) that do not become fully vested in accordance with the preceding sentence will automatically be
cancelled and forfeited as of the completion of the Performance Period without payment of any consideration therefor, and Grantee shall have no further right or interest in or with respect to such RSUs. 

(iii) In the event that, following the completion of the Performance Period, Grantee incurs a Qualifying Termination or ceases
to be a Service Provider by reason of his or her Retirement, the Restrictions set forth in Section 6(a) above applicable to any outstanding Performance Vested RSUs (if any) shall lapse and such Performance Vested RSUs shall become fully vested
upon such Qualifying Termination or Retirement, as applicable. 

  
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 7. Payment. Payments in respect of any RSUs that vest in full in accordance herewith shall
be made to Grantee (or in the event of Grantee’s death, to his or her estate) in whole shares of Stock, and any fractional share will be rounded to the nearest whole share; provided, however, that in no event shall the aggregate number
of RSUs that vest or become payable hereunder exceed the total number of RSUs set forth in Section 1 of this Agreement. The Company shall make such payments as soon as practicable after the applicable Vesting Date, but in any event within
thirty (30) days after such Vesting Date, provided that, in the event of vesting upon a Change in Control under Section 5(c) above, such payment shall be made or deemed made immediately preceding and effective upon the occurrence of such
Change in Control. 
 8. Determinations by Committee. Notwithstanding anything contained herein, all determinations, interpretations
and assumptions relating to the vesting of the RSUs (including, without limitation, determinations, interpretations and assumptions with respect to Company TSR Percentage and MSCI Index TSR Percentage) shall be made by the Committee and shall be
applied consistently and uniformly to all similar Awards granted under the Plan (including, without limitation, similar Awards of Profits Interest Units). In making such determinations, the Committee may employ attorneys, consultants, accountants,
appraisers, brokers, or other persons, and the Committee, the Board, the Company, the Partnership and their officers and directors shall be entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken and all
interpretations and determinations made by the Committee or the Board in good faith and absent manifest error shall be final and binding upon the Grantee, the Company and all other interested persons. In addition, the Committee, in its discretion,
may adjust or modify the methodology for calculations relating to the vesting of the RSUs (including, without limitation, the methodology for calculating Company TSR Percentage and MSCI Index TSR Percentage), other than the Performance Vesting
Percentage, as necessary or desirable to account for events affecting the value of the Stock which, in the discretion of the Committee, are not considered indicative of Company performance, which may include events such as the issuance of new Stock,
stock repurchases, stock splits, issuances and/or exercises of stock grants or stock options, and similar events, all in order to properly reflect the Company’s intent with respect to the performance objectives underlying the RSUs or to prevent
dilution or enlargement of the benefits or potential benefits intended to be made available with respect to the RSUs. 
 9. Restrictions
on New Shares. In the event that the RSUs are changed into or exchanged for a different number or kind of securities of the Company or of another corporation or other entity by reason of merger, consolidation, recapitalization, reclassification,
stock split, stock dividend or combination of shares, such new or additional or different securities which are issued upon conversion of or in exchange or substitution for RSUs which are then subject to vesting shall be subject to the same vesting
conditions, unless the Committee provides for the vesting or the RSUs underlying the distribution of the new or additional or different securities. 

10. Conditions to Issuance of Stock Certificates. Shares of Common Stock issued as payment for the RSUs may be either previously
authorized but unissued shares or issued shares which have then been reacquired by the Company. Upon issuance, such shares shall be fully paid and nonassessable. The shares of stock issued pursuant to this Agreement shall be held in book entry form
and no certificates shall be issued therefor; provided however, that certificates may be issued for shares of stock issued pursuant to this Agreement at the request of the holder and in accordance with the Articles of Amendment and Restatement of
the Company, as amended and supplemented from time to time, and the Amended and Restated Bylaws of the Company, as amended and supplemented from time to time, upon the fulfillment of all of the following conditions: 

(a) The admission of such shares to listing on all stock exchanges on which such class of stock is then listed; 

(b) The completion of any registration or other qualification of such shares under any state or federal law or under rulings or regulations of
the Securities and Exchange Commission or of any other governmental regulatory body, which the Committee shall, in its absolute discretion, deem necessary or advisable; 

  
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 (c) The obtaining of any approval or other clearance from any state or federal governmental
agency which the Committee shall, in its absolute discretion, determine to be necessary or advisable; 
 (d) The lapse of such reasonable
period of time as the Committee may from time to time establish for reasons of administrative convenience; and 
 (e) The receipt by the
Company of full payment for any applicable withholding or other employment tax or required payments with respect to any such shares to the Company with respect to the issuance or vesting of such shares. 

In the event that the Company delays a distribution or payment in settlement of RSUs because it reasonably determines that the issuance of
shares of Common Stock in settlement of RSUs will violate federal securities laws or other applicable law, such distribution or payment shall be made at the earliest date at which the Company reasonably determines that the making of such
distribution or payment will not cause such violation, as required by Treasury Regulation Section 1.409A-2(b)(7)(ii). The Company shall not delay any payment if such delay will result in a violation of Section 409A of the Code. 

11. Rights as Stockholder. Neither Grantee nor any person claiming under or through Grantee will have any of the rights or privileges
of a stockholder of the Company in respect of any shares of Common Stock deliverable hereunder unless and until certificates representing such shares of Stock will have been issued, recorded on the records of the Company or its transfer agents or
registrars, and delivered to Grantee or any person claiming under or through Grantee. 
 12. Tax Withholding. The Company, the
Services Company, the Partnership or any Subsidiary shall have the authority and the right to deduct or withhold, or require Grantee to remit to the Company, the Services Company, the Partnership or any Subsidiary, as applicable, an amount
sufficient to satisfy federal, state, local and foreign taxes (including Grantee’s FICA obligation) required by law to be withheld with respect to the issuance, vesting or payment of the RSUs and the Dividend Equivalents. The Committee may in
its discretion and in satisfaction of the foregoing requirement allow Grantee to elect to have the Company or the Employer, as applicable, withhold shares of Common Stock otherwise issuable under such award (or allow the return of shares of Common
Stock) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision of the Plan or this Agreement, the number of shares of Common Stock which may be withheld with respect to the issuance, vesting or
payment of the RSUs in order to satisfy Grantee’s income and payroll tax liabilities with respect to the issuance, vesting or payment of the RSUs and the Dividend Equivalents shall be limited to the number of shares which have a fair market
value on the date of withholding equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for tax income and payroll tax purposes that are applicable to such supplemental taxable income. 

13. Remedies. Grantee shall be liable to the Company for all costs and damages, including incidental and consequential damages,
resulting from a disposition of the RSUs which is in violation of the provisions of this Agreement. Without limiting the generality of the foregoing, Grantee agrees that the Company shall be entitled to obtain specific performance of the obligations
of Grantee under this Agreement and immediate injunctive relief in the event any action or proceeding is brought in equity to enforce the same. Grantee will not urge as a defense that there is an adequate remedy at law. 

14. Restrictions on Public Sale by Grantee. To the extent not inconsistent with applicable law, Grantee agrees not to effect any sale
or distribution of the RSUs or any similar security of the Company, or any securities convertible into or exchangeable or exercisable for such securities, including a sale pursuant to Rule 144 under the Securities Act, during the fourteen
(14) days prior to, and during the up to 90 day period beginning on, the date of the pricing of any public or private debt or equity securities offering by the Company (except as part of such offering), if and to the extent requested in writing
by the Partnership or the Company in the case of a 

  
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non-underwritten public or private offering or if and to the extent requested in writing by the managing underwriter or underwriters (or initial purchaser or initial purchasers, as the case may
be) and consented to by the Company, which consent may be given or withheld in the Company’s sole and absolute discretion, in the case of an underwritten public or private offering (such agreement to be in the form of lock-up agreement provided
by the Company or managing underwriter or underwriters, as the case may be). 
 15. Conformity to Securities Laws. Grantee
acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of all applicable federal and state laws, rules and regulations (including, but not limited to the Securities Act and the Exchange Act
and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, including without limitation the applicable exemptive conditions of Rule 16b-3 of the Exchange Act) and to such approvals by any listing,
regulatory or other governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the RSUs are
granted, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan, this Agreement and the RSUs shall be deemed amended to the extent necessary to conform to such laws, rules and
regulations. 
 16. Code Section 409A. To the extent applicable, this Agreement shall be interpreted in accordance with
Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the effective date of this
Agreement. Notwithstanding any provision of this Agreement to the contrary, in the event that following the effective date of this Agreement, the Company determines that the RSUs may be subject to Section 409A of the Code and related Department
of Treasury guidance (including such Department of Treasury guidance as may be issued after the effective date of this Agreement ), the Company may adopt such amendments to this Agreement or adopt other policies and procedures (including amendments,
policies and procedures with retroactive effect ), or take any other actions, that the Company determines are necessary or appropriate to (a) exempt the RSUs from Section 409A of the Code and/or preserve the intended tax treatment of the
benefits provided with respect to the RSUs, or (b) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance; provided, however, that this Section 16 shall not create any obligation on the
part of the Company, the Partnership or any Subsidiary to adopt any such amendment, policy or procedure or take any such other action. For purposes of Section 409A of the Code, any right to a series of payments pursuant to this Agreement shall
be treated as a right to a series of separate payments. 
 17. No Right to Continued Service. Nothing in this Agreement shall confer
upon Grantee any right to continue as a Service Provider of the Company, the Partnership or any Subsidiary, or shall interfere with or restrict in any way the rights of the Company, the Partnership or any Subsidiary, which rights are hereby
expressly reserved, to discharge Grantee at any time for any reason whatsoever, with or without cause. 
 18. Miscellaneous. 

(a) Incorporation of the Plan. This Agreement is made under and subject to and governed by all of the terms and conditions of the Plan.
In the event of any discrepancy or inconsistency between this Agreement and the Plan, the terms and conditions of the Plan shall control. By signing this Agreement, Grantee confirms that he or she has received a copy of the Plan and has had an
opportunity to review the contents thereof. 
 (b) Clawback. This award, the RSUs and the shares of Common Stock issuable with
respect to the RSUs shall be subject to any clawback or recoupment policy currently in effect or as may be adopted by the Company, as may be amended from time to time. 

(c) Successors and Assigns. Subject to the limitations set forth in this Agreement, this Agreement shall be binding upon, and inure to
the benefit of, the executors, administrators, heirs, legal representatives, successors and assigns of the parties hereto, including, without limitation, any business entity that succeeds to the business of the Company. 

  
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 (d) Entire Agreement; Amendments and Waivers. This Agreement, together with the Plan,
constitutes the entire agreement among the parties pertaining to the subject matter hereof and supersedes all prior agreements, understandings, negotiations and discussions, whether oral or written, of the parties. Without limiting the generality of
the foregoing, this Agreement supersedes the provisions of any employment agreement, employment offer letter or similar agreement between Grantee and the Company, the Partnership or any Subsidiary that would otherwise accelerate the vesting of the
RSUs, and any provision in such agreement or letter which would otherwise accelerate such vesting shall have no force or effect with respect to the RSUs. In the event that the provisions of such other agreement or letter conflict or are inconsistent
with the provisions of this Agreement, the provisions of this Agreement shall control. Except as set forth in Section 16 above, this Agreement may not be amended except in an instrument in writing signed on behalf of each of the parties hereto
and approved by the Committee. No amendment, supplement, modification or waiver of this Agreement shall be binding unless executed in writing by the party to be bound thereby. No waiver of any of the provisions of this Agreement shall be deemed or
shall constitute a waiver of any other provision hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided. 

(e) Severability. If for any reason one or more of the provisions contained in this Agreement or in any other instrument referred to
herein, shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, then to the maximum extent permitted by law, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement or any
other such instrument. 
 (f) Titles. The titles, captions or headings of the Sections herein are inserted for convenience of
reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 
 (g)
Counterparts. This Agreement may be executed in any number of counterparts, any of which may be executed and transmitted by facsimile, and each of which shall be deemed to be an original, but all of which together shall be deemed to be one
and the same instrument. 
 (h) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the
State of California applicable to contracts entered into and wholly to be performed within the State of California by California residents, without regard to any otherwise governing principles of conflicts of law that would choose the law of any
state other than the State of California. 
 (i) Notices. Any notice to be given by Grantee under the terms of this Agreement shall
be addressed to the General Counsel of the Company at the Company’s address set forth in Exhibit A attached hereto. Any notice to be given to Grantee shall be addressed to him or her at Grantee’s then current address on the books
and records of the Company. By a notice given pursuant to this Section 18(i), either party may hereafter designate a different address for notices to be given to him. Any notice which is required to be given to Grantee shall, if Grantee is then
deceased, be given to Grantee’s personal representative if such representative has previously informed the Company of his or her status and address by written notice under this Section 18(i) (and the Company shall be entitled to rely on
any such notice provided to it that it in good faith believes to be true and correct, with no duty of inquiry). Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon
deposit in the United States mail by certified mail, with postage and fees prepaid, addressed as set forth above or upon confirmation of delivery by a nationally recognized overnight delivery service. 

(j) Spousal Consent. As a condition to the Company’s and its Subsidiaries’ obligations under this Agreement, the spouse of
Grantee, if any, shall execute and deliver to the Company the Consent of Spouse attached hereto as Exhibit B. 

  
 9 









 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

  

			
	DIGITAL REALTY TRUST, INC.,
	a Maryland corporation
		
	By:	 	  

	Name:	 	Michael F. Foust
	Title:	 	Chief Executive Officer
	
	 Grantee hereby accepts and agrees to be bound by all

of the terms and conditions of this Agreement.

	
	  

	  




  
 10 









 Exhibit A 

Definitions, Vesting Schedule and Notice Address 

Performance Period 
 “Performance
Period” means the period commencing on January 2, 2014 and ending on the earlier of (i) December 31, 2016 or (ii) the date on which a Change in Control occurs. 

Performance Vesting Percentage 

“Performance Vesting Percentage” means a function of the MSCI Index Relative Performance during the Performance Period, and shall be
determined as set forth below: 
  

							
	 	  	 MSCI Index

Relative
Performance
	  	Performance
Vesting
Percentage	 
		  	< 0 basis points	  	 	0	% 
	 “Threshold Level”
	  	0 basis points	  	 	25	% 
	 “Target Level”
	  	325 basis points	  	 	50	% 
	 “High Level”
	  	3 650 basis points	  	 	100	% 

 In the event that the MSCI Index Relative Performance falls between the Threshold Level and the Target Level, the Performance
Vesting Percentage shall be determined using straight line linear interpolation between the Threshold Level and Target Level Performance Vesting Percentages specified above; and in the event that the MSCI Index Relative Performance falls between the
Target Level and the High Level, the Performance Vesting Percentage shall be determined using straight line linear interpolation between the Target Level and High Level Performance Vesting Percentages specified above. 

Time Vesting Schedule 
 Company Address

 4 Embarcadero Center 

Suite 3200 
 San Francisco,
California 94111 








 Exhibit B 

CONSENT OF SPOUSE 
 I,
                    , spouse of
[                    ], have read and approve the foregoing Restricted Stock Unit Agreement (the “Agreement”) and all
exhibits thereto and the Plan (as defined in the Agreement). In consideration of the granting to my spouse of the restricted stock units of Digital Realty Trust, Inc. (the “Company”) as set forth in the Agreement, I hereby
appoint my spouse as my attorney-in-fact in respect to the exercise of any rights and taking of all actions under the Agreement and all exhibits thereto and agree to be bound by the provisions of the Agreement and all exhibits thereto insofar as I
may have any rights in said Agreement or any exhibits thereto or any shares issued pursuant thereto under the community property laws or similar laws relating to marital property in effect in the state of our residence as of the date of the signing
of the foregoing Agreement and exhibits thereto or otherwise. I understand that this Consent of Spouse may not be altered, amended, modified or revoked other than by a writing signed by me and the Company. 

 

			
	Grant Date:	 	  

		
	By:	 	  

	Print name:	 	  

	Dated:	 	


 If applicable, you must print, complete and return this Consent of Spouse to 

hrdirect@digitalrealty.com. Please only print and return this page.