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EXHIBIT 10.3

IRON MOUNTAIN INCORPORATED

EXECUTIVE DEFERRED COMPENSATION PLAN

______________________________________________

FIRST AMENDMENT

______________________________________________

Iron Mountain Incorporated (the “Company”) hereby amends the Iron Mountain
Incorporated Executive Deferred Compensation Plan (the “Plan”).

*   *   *  
*   *

1.             Section 10.6 of the Plan shall be deleted in its
entirety and in its place shall be substituted the following:

10.6         [Reserved]

*   *   *  
*   *

2.             Except as hereinabove specifically amended, all
provisions of the Plan, as previously amended, shall continue in full force and
effect; provided, however, that the Company hereby reserves the power from time
to time to further amend the Plan.

*   *   *  
*   *

IN WITNESS WHEREOF, the
Company has caused this First Amendment to the Plan to be executed in its name
and on its behalf this _____ day of __________, 2004.

	
  

  	
  IRON MOUNTAIN INCORPORATED

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Garry B. Watzke

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
      Garry B. Watzke, Vice
  President

      and General CounselEXHIBIT 10.4

IRON MOUNTAIN INCORPORATED

EXECUTIVE DEFERRED COMPENSATION PLAN

______________________________________________

SECOND AMENDMENT

______________________________________________

Iron Mountain Incorporated (the “Company”) hereby amends the Iron Mountain
Incorporated Executive Deferred Compensation Plan, as previously amended (the “Plan”).

*   *   *  
*   *

1.             Section 6.1 of the Plan shall be amended by adding the
following new Section 6.1(d) and designating the existing Section 6.1(d) as
6.1(e):

(d)           Notwithstanding
the other provisions of this Section 6.1, any election by a Participant on a
Deferral Form filed before January 1, 2004 shall be respected in accordance
with its terms.  To the extent necessary,
the Committee shall allocate earnings and losses among the portions of an
Account attributable to deferrals in different years, and may do so by any
method the Committee deems reasonable.

*   *   *  
*   *

2.             Except as hereinabove specifically amended, all
provisions of the Plan shall continue in full force and effect; provided,
however, that the Company hereby reserves the power from time to time to
further amend the Plan.

*   *   *  
*   *

IN WITNESS WHEREOF, the Company has caused this Second Amendment to the
Plan to be executed in its name and on its behalf this 8 day of July, 2004.

	
  

  	
  IRON MOUNTAIN INCORPORATED

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Patricia M. Bowler

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
      Patricia M. BowlerEXHIBIT 10.22

Summary
Description of Incentive Compensation Arrangement for Iron Mountain
Incorporated’s Executive Officers

Iron Mountain Incorporated (the “Company”) has an
incentive compensation arrangement for executive officers that is unwritten and
informal, except that the Company has formal written plans for the Chief
Executive Officer and Chief Operating Officer. Compensation for each fiscal
(calendar) year is generally set during the first three months of the fiscal
year for that fiscal year.  Criteria,
such as gross revenues and Operating Income Before Depreciation and
Amortization (OIBDA), are selected, and targets for such criteria are
selected.  Bonuses ranging from 0% to
100% of the executive officer’s base salary are paid, depending on targets
being met at various levels, following the end of the fiscal year.  The targets for criteria are adjusted by
management during the year for acquisitions and other major unbudgeted events.  The criteria set for fiscal year 2007 are
gross revenues, OIBDA and a discretionary element.Exhibit 10.12

 

DIRECTOR
COMPENSATION

The following
compensation arrangements have been established for the Board of Directors of
the Company: All outside directors will receive an annual retainer of $25,000. The
chairpersons of the Audit Committee, the Compensation Committee, the Risk
Oversight Committee, and the Nominating / Governance Committee will for this
service receive retainers of $10,000, of $7,000, of $5,000, and of $5,000
respectively. Outside directors also receive a meeting fee of $1,000 for each
Board and Committee meeting attended. Outside directors also receive an annual
grant of $25,000 of restricted stock, which stock has 3-year cliff vesting.
Directors have the option to receive their $25,000 annual retainer in the form
of stock at a 25% premium (i.e., $31,250 of stock) if they agree to hold the
stock for at least one year. No separate compensation is paid to directors who
are also employees of the Company.Exhibit 10.13

 

NAMED
EXECUTIVE OFFICER COMPENSATION

On February 26,
2007 the following adjustments to base salary, cash bonus payments for 2006
work, and grants of incentive stock were approved for the Company’s CEO and the
persons expected to be named executive officers in its Proxy Statement for the
2007 Annual Meeting of Shareholders.  Adjustments to salary are effective as of
March 1, 2007.  Cash bonuses are paid on
or about March 5, 2007.

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Shares of

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Non-Qualified

  	
   

  	
  Restricted

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  2007

  	
   

  	
  2006 Cash

  	
   

  	
  Stock

  	
   

  	
  Stock

  	
   

  
	
  Executive Officer

  	
   

  	
  Title

  	
   

  	
  Salary

  	
   

  	
  Bonus

  	
   

  	
  Options

  	
   

  	
  Award

  	
   

  
	
  Dominic
  Ng  

  	
   

  	
  Chairman of the Board,
  President

  and Chief Executive
  Officer

  	
   

  	
  $

  	
  800,000

  	
   

  	
  $

  	
  1,280,000

  	
   

  	
   

  	
  47,915

  	
   

  	
   

  	
  45,091 

  	
  (1)

  
	
  Julia
  Gouw 

  	
   

  	
  Executive Vice
  President and

  Chief Financial Officer

  	
   

  	
  $

  	
  289,385

  	
   

  	
  $

  	
  220,000

  	
   

  	
   

  	
  8,076

  	
   

  	
   

  	
  1,932

  	
   

  
	
  Wellington
  Chen 

  	
   

  	
  Executive Vice
  President and

  Director of Corporate
  Banking

  	
   

  	
  $

  	
  236,255

  	
   

  	
  $

  	
  180,000

  	
   

  	
   

  	
  8,076

  	
   

  	
   

  	
  1,932

  	
   

  
	
  David
  Spigner 

  	
   

  	
  Executive Vice
  President and

  Chief Strategic Officer

  	
   

  	
  $

  	
  224,952

  	
   

  	
  $

  	
  145,000

  	
   

  	
   

  	
  5,384

  	
   

  	
   

  	
  1,288

  	
   

  
	
  William
  Lewis   

  	
   

  	
  Executive Vice
  President

  Chief Credit Officer

  	
   

  	
  $

  	
  214,244

  	
   

  	
  $

  	
  150,000

  	
   

  	
   

  	
  6,460

  	
   

  	
   

  	
  —

  	
   

  

(1) Performance
restricted stock vesting in 2 years.  Number
of shares that will vest depends on meeting performance criteria.  The restricted shares awards represent the
maximum number of shares that will be granted if pre-established earnings per
share performance goals are met.

Stock options are
all non-qualified options issued under the 1998 Stock Incentive Plan of the
Company; the restricted stock is also issued under the 1998 Stock Incentive
Plan of the Company.  Options vest over 4
years as follows: 1/3 after 2 years, 1/3 after 3 years, and 1/3 after 4 years.  The restricted stock of the named officers other
than the CEO vests 50% after 4 years and 50% after 5 years.

The Company also
approved company performance goals and individual performance goals for the CEO
and the other named executive officers.  The
CEO’s goals are set under the Performance-Based Bonus Plan approved by
shareholders in 2002 and are based on earnings per share and return on equity;
the bonus award will range from 0% to 250% of base salary.  The goals of the other named executives are
based 50% on overall corporate goals and 50% on individual department
performance goals.  The corporate goals
are earnings per share, growth in demand deposits, return on equity, return on
assets, growth in noninterest income, expense control, growth in trade finance
loans, growth in commercial business loans, and strategic/operational goals.

The Company will
provide additional information regarding the compensation paid to the named
executive officers for the 2006 fiscal year in its Proxy Statement for the 2007
Annual Meeting of Shareholders.Exhibit
10.18

Description
of Compensation of Non-Employee Directors

Fees
Earned or Paid in Cash

Cash payments to
non-employee directors are made as follows:

1.               Annual Retainer for
all non-employee directors: $25,000

2.               Committee Meeting
Fees: $1,000 per meeting attended (whether attended in-person or by phone)

3.               Annual Chairperson
Fees:

-                    $3,000 for
Nominating and Governance Committee

-                    $5,000 for
Compensation Committee

-                    $10,000 for
Audit Committee

4.               Board Meeting Fees:
$1,500 per meeting attended (whether attended in-person or by phone)

5.               Other:

-                    Lead director —
$10,000 annually (no lead director after August 2006)

-                    Chairman —
$35,000 annually (effective August 2006)

All amounts are paid
quarterly (except as noted). There is no pro-rating for service for less than a
full quarter; service on any committee for part of a quarter is treated the
same as an entire quarter. In addition, from time to time the Board of
Directors forms ad hoc committees and fixes compensation for those committees.

Equity Compensation

Each new
non-employee director receives 5,000 restricted stock units upon becoming a
director.

Each continuing
non-employee director receives 2,500 restricted stock units on the date of the
Board of Directors meeting that directly follows the annual meeting.

Prior to 2006,
each new non-employee director was granted a non-statutory option to purchase
15,000 shares of common stock when the individual became a director, and each
continuing non-employee director was automatically granted an annual non-discretionary,
non-statutory option to purchase 7,500 shares of our common stock on the date
of the Board meeting that directly followed the annual meeting.

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