Document:

Amendment No. 1 to Commercial Lease

 Exhibit 10.44 

*Note: English translation of French version. 
  

	 	(1)	DIGITAL REALTY (PARIS 2) SCI 

  

	 	(2)	EQUINIX PARIS SAS 

  

 
 AMENDMENT N°1 TO
COMMERCIAL LEASE 
 DATED 30 SEPTEMBER 2008 

 
  

 AMENDMENT N°1 TO COMMERCIAL LEASE 

BETWEEN: 
 DIGITAL REALTY (Paris 2)
SCI, a French simplified private limited Company for property purposes (société civile immobilière) with a share capital of € 866,000.00, having its registered office at 52, rue de la Victoire, 75009 Paris,
registered with the Paris Trade and Companies Register under number 492 802 947, represented by Bernard Geoghegan, its co-gérant, duly empowered for the purposes hereof. 

Hereinafter referred to as the “Landlord”, 

Party of the first part, 

AND 
 EQUINIX PARIS SAS, a French
simplified limited company (société par actions simplifiée) with a share capital of € 37.000,00, having its registered office at Roissy-en-France (95700) 167 rue de la Belle Etoile –Parc
d’Activité Paris Nord, registered with the Pontoise Trade and Companies Register under number 508 444 551, represented by Michel Brignano as Directeur Général, duly empowered for the purposes hereof; 

Hereinafter referred to as the “Tenant”, 

Party of the second part, 

The Landlord and the Tenant shall hereinafter be referred to individually as a “Party” and together as the “Parties”.

  

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 RECITALS 

By a Commercial Lease dated September 30, 2008 (the “Lease”), Landlord granted a commercial lease to Tenant over certain premises
(as more particularly described in the Lease, the “Original Leased Premises”) located at 114 rue Ambroise Croizat, 93220 Saint-Denis (the “Building”). 

All capitalized terms not specifically defined in this Amendment (defined below) shall have the same meaning attributed to them in the Lease. 

Subsequent to the signing of the Lease, the Parties have elected to expand the Original Leased Premises, to increase the Electricity Consumption
Threshold and to make several other amendments to the Lease, and the Parties have therefor agreed to enter into this Amendment N°1 to the Lease (this “Amendment”) in order to make the appropriate modifications to the Lease.

 Any reference included herein to a “Recital”, an “Article” or an “Annex” shall be deemed
to be a reference to the recitals, an article or annex of this Amendment, except when otherwise specified. 
  

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 Now, therefore, the Parties agree as follows: 

ARTICLE 1: LEASED PREMISES 
 A.
EXPANSION OF LEASED PREMISES. Commencing on 1 July 2010 (hereinafter the “1A Commencement Date”), the Landlord hereby grants to the Tenant, which irrevocably accepts, a commercial lease over the following premises located
within the Property, of a total rental area of approximately 2,861 square meters, comprised of (hereinafter the “1A Additional Premises”): 

 

	 	(i)	premises reserved for business activities, datacenter activities, storage, technical premises and office areas, located on the ground floor of the Building, demarcated
on the plan included in Annex 2A, and listed in Annex 2B, corresponding to a total rental space of approximately 1,886 square meters and the technical and areas of common use, the latter being comprised of one high voltage
electricity distribution area with a delivering capacity of 3 Mva (demarcated in the plans attached hereto as Annex 2A, as “G2 and G3 Areas”); 

 

	 	(ii)	premises reserved for business activities, storage, technical premises, datacenter activities, and in particular office areas (subject for the Tenant, at Tenant’s
sole cost and responsibility, to perform and obtain any and all prior administrative authorizations relating thereto, with the support, where appropriate, of the Landlord), located in a mezzanine in the Building situated above a portion of the 1A
Additional Premises, demarcated on the plan included in Annex 2A, and listed in Annex 2B, corresponding to a total rental space of approximately 975 square meters and the technical and areas of common use, (demarcated in the
plans attached hereto as Annex 2A, as “F1, F2, F3 and F5 Areas”); 

 As defined therein, items
(i) and (ii) above are collectively referred to as the “POD4 Area”. 
  

	 	(iii)	subject to the terms of the Lease, including without limitation Articles 11.2.2, 11.16.1, 11.16.3, 11.16.4 (as amended by Article 6 below) and 15.2.1, the right to
install equipment on the roof of the Leased Premises in the location demarcated on the plan included in Annex 2A using the existing support structure therefor; and 

 

	 	(iv)	subject to the terms of the Lease, including without limitation Articles 11.2.2., 11.16.1, 11.16.3, 11.16.4 (as amended by Article 8 below) and 15.2.1, the right to use
the two 20,000 litre fuel underground storage tanks located outside of the Building in approximately the location shown on Annex 2A (the “1A Fuel Tanks”). The 1A Fuel Tanks will be handed over totally empty by Landlord, on
the 1A Commencement Date. 

 B. AMENDED DESCRIPTION OF LEASED PREMISES. Accordingly, effective as of the 1A Commencement
Date, the description of the total Leased Premises under the Lease, as amended hereby, will be as follows (and as summarized in Annex 2B attached hereto), it being reminded by the Parties that Tenant has been occupying in the Building and in
agreement with Landlord, under the terms and conditions of the Lease, prior to this Amendment, the areas (collectively refereed to herein as “PA3 Area”) demarcated on the plans included in Annex 2A to this Amendment, as G4
and F4 areas. 
  

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 (i) The first
(1st) five (5) paragraphs of Article 1.1 of the
Lease are hereby amended in their entirety to read as follows: 
  

	 	1.	LEASE – DESCRIPTION 

  

	 	1.1.	The Landlord hereby grants to the Tenant, which irrevocably accepts, a commercial lease over the following premises located within the Property, of a total area of
approximately 12,080 square meters, comprised of (hereinafter the “Leased Premises”), it being specified that the Lease contained a mistake on the total surface area of the Leased Premises which is hereby rectified:

  

	 	•	 	 premises reserved for business activities , storage, technical premises and datacenter activities as well as office areas, located on the ground floor
of the Building, demarcated on the plans included in Annex 2A, and listed in Annex 2B, corresponding to a total rental space of 9,375 square meters and the technical and areas of common use, the latter being comprised of
five high voltage electricity distribution areas, each with a delivering capacity of 3 Mva; 

  

	 	•	 	 premises reserved for business activities, storage, technical premises, datacenter activities, and in particular office areas (subject for the Tenant,
at Tenant’s sole cost and responsibility, to perform and obtain any and all prior administrative authorizations relating thereto, with the support, where applicable, of the Landlord), located in a mezzanine in the Building situated above a
portion of the Leased Premises, demarcated on the plans included in Annex 2A, and listed in Annex 2B, corresponding to a total rental space of approximately 2,705 square meters and the technical and areas of common use ;

  

	 	•	 	 the exclusive right to use and access the exterior areas demarcated on the plan included in Annex 2A, and listed in Annex 2B, for its
installations and equipment; 

  

	 	•	 	 subject to the terms of the Lease, including without limitation Articles 11.2.2, 11.16.1, 11.16.3, 11.16.4 (as amended by Article 6 below) and 15.2.1,
the right to install equipment on the roof of the Leased Premises in the location demarcated on the plan included in Annex 2A using the existing support structure therefor. The installation of such equipment shall be carried out at the sole
expense, responsibility and risk of the Tenant subject to the prior written approval of the Landlord, approval which the Landlord may refuse only in the event that the Tenant fails to conform to the technical and safety rules applicable to the
installation of such equipment. It is also specified that the use of the roof space by Tenant shall not interfere with Landlord’s services running on the roof below the structure; 

 

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 (ii) The following item is hereby added to Article 1.1 of the Lease: 

 

	 	•	 	 subject to the terms of the Lease, including without limitation Articles 11.2.2., 11.16.1, 11.16.3, 11.16.4 (as amended by Article 6 below) and 15.2.1,
the right to use the two 20,000 litre fuel underground storage tanks located outside of the Building in approximately the location shown on Annex 2A (collectively, the “1A Fuel Tanks”). Landlord will deliver, and Tenant
hereby accepts, the 1A Fuel Tanks totally empty and in their “AS IS” condition as of the 1A Commencement Date; and at the expiration or earlier termination of the term of this Lease, Tenant may surrender the 1A Fuel Tanks totally empty or,
Landlord may accept, at his sole discretion and on Tenant’s request, that Tenant surrenders the 1A Fuel Tanks to Landlord filled with their then current level of fuel, together with a certificate from an engineer reasonably acceptable to
Landlord certifying the quality and grade of fuel therein. In addition, Landlord grants to Tenant the right to surrender the use of the 1A Fuel Tanks at any time during the Lease under the same above-mentioned conditions. In the event of surrender
before termination of the Lease, Tenant shall send a letter to Landlord to organize a meeting for the formal surrender of the 1A Fuel Tanks. Such surrender will give lieu to the drawing up of a schedule of conditions executed by both Parties, it
being expressly acknowledged and agreed by Landlord that Tenant will have no liability whatsoever with respect to such surrendered Fuel Tanks following the execution of such schedule of conditions. Landlord also grants to Tenant the option to
install new fuel tanks with the same total capacity of 40,000 liters as mentioned above, on the premises, as a replacement of 1A Fuel Tanks, subject to the terms and conditions of the Lease and the Amendment, and in particular – but not limited
to – the procedure stated under article 11.2.1 of the Lease, as amended hereby. In the event that Tenant were to install those new fuel tanks, it is agreed that Tenant will at the expiration or earlier termination of the term of this Lease
surrender them in the same conditions as stated above for the 1A Fuel Tanks; 

 (iii) For the avoidance of
doubt, except as expressly set forth in Article 1. B. (i) hereinafter, the Parties agree that the remainder of Article 1.1 of the Lease remains unchanged; and 

 

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 (iv) Annex 2 of the Lease is hereby deleted and replaced in its entirety by Annex
2A and Annex 2B, attached hereto, and all references in the Lease to Annex 2 shall be deemed to be references to Annex 2A and Annex 2B, collectively. 

C. EXTENSION OF INTENDED USE. Commencing on the 1A Commencement Date, Landlord agrees that the premises located at the mezzanine level may be used
as office areas, subject for the Tenant, at Tenant’s sole cost and responsibility, to perform and obtain any and all prior administrative authorizations relating thereto, with the support, where applicable, of the Landlord. Upon receipt of the
relevant authorizations, Tenant shall immediately notify said authorization to the Landlord, together with a detailed and complete description of the fitting works to be performed. Landlord shall therefore, as per the terms of Article 11.2.1. of the
Lease and other relevant provision of the Lease, as amended hereby, give its prior written consent to said works, Landlord’s consent not to be unreasonably withheld. 

D. TERMS FOR 1A ADDITIONAL PREMISES. 

(i) A schedule of condition for the 1A Additional Premises shall be drawn up by both Parties as soon as possible after this Amendment has
been signed. If a schedule of condition is not drawn up for any reason whatsoever, the 1A Additional Premises shall be deemed to have been handed over in perfect condition. 

(ii) Notwithstanding clause (i) above, the Landlord shall perform and complete the Additional Installations as described under
Annex 3 at its sole cost and expense, and provide its best efforts to complete the Landlord’s Installations at the earliest as from execution of the Amendment and no later than 30 June 2010. The Landlord agrees to communicate to the
Tenant, as soon as possible from the signature of this Amendment, the specifications describing the Additional Installations and to allow the Tenant sufficient time to request any changes to the specifications, prior to the Landlord carrying out of
such Additional Installations. The Tenant shall bear all incremental costs related to any change request and shall pay the same to the Landlord within thirty (30) days following receipt of an invoice form the Landlord. In the event that the
Additional Installations are not completed by the Landlord by the 30 of June 2010, the Parties specifically agree that the Tenant will be permitted to complete such works in lieu of the Landlord, in accordance with the relevant agreed
specifications, and in particular so as not to potentially delay access by the Tenant in the agreed premises. 
 (iii) The
Tenant expressly exempts the Landlord from providing to the Tenant prior to the signing of this Amendment, any energy performance analysis of the 1A Additional Premises. The Tenant declares that it has such knowledge, and hereby waives any claim
against the Landlord or the Landlord Group. 
 (iv) The Landlord has transmitted, prior to the signing of this Amendment, to the
Tenant, who hereby acknowledges the receipt thereof, of an asbestos report dated 28 November 2007 of the Building, and appearing in Annex 4 to the Lease. The Tenant hereby declares to have perfect knowledge of this

  

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report, the 1A Additional Premises, and the Building, and assumes all responsibility and without recourse against the Landlord and the Landlord Group for the 1A Additional Premises and the
Building, in this regard. 
 (v) In accordance with the terms of Articles L. 125-5 and R 125-26 of the Environmental Code
(Code de l’environnement), Landlord has provided Tenant, who hereby acknowledges receipt of same, with an Environmental and Technological Risks Statement (état des risques naturels et technologiques), together with its
annexes, in respect of the Building, established on the basis of the information provided to it by virtue of the Arrêté Préfectoral Number 2006-45-1 of February 14, 2006, which statement is attached hereto as
Annex 5 (the “Environmental and Technological Risks Statement”). Landlord also informs Tenant that the Building has not been affected by any incident or disaster for which an indemnity is required to be paid pursuant to
Article L 125-2 of the Environmental Code or Article L 128-2 of the Insurance Code. 
 (vi) Subject to the
terms and conditions of this Clause D, the Landlord permits Tenant and other Tenant Parties (as defined in Article 11.16.3 of the Lease) to enter and occupy the 1A Additional Premises prior to the 1A Commencement Date (“1A Early
Access”), for the purposes of inspecting same and for performing Tenant’s fit-out work therein (“1A Tenant Work”), on and after the
1st of April 2010 upon which Landlord notifies Tenant that
the 1A Additional Premises is dust-free and safe for Tenant’s occupancy, as determined by Landlord in Landlord’s sole and absolute discretion. However, it is specified that the Landlord shall provide its best efforts to complete the
Landlord’s Installations described in Annex 3 to this Amendment at the earliest as from execution of the Amendment and no later than 30 June 2010. (The date upon which Landlord provides notice of 1A Early Access is referred to
herein as the “1A Early Access Date”; the period between the 1A Early Access Date and the 1A Commencement Date is referred to herein as the “1A Early Access Period”). 

Any such permission shall constitute a license only, conditioned upon (a) Tenant and Tenant’s contractors obtaining Landlord’s prior
written consent (not to be unreasonably withheld) with regard to each item of 1A Tenant Work that any of such parties desire to undertake during the 1A Early Access Period, and (b) Tenant’s 1A Early Access not materially interfering with
Landlord’s operation at the Property. 
 Tenant’s 1A Early Access shall be subject to (and, during such period, Tenant must comply
with) all of the terms and provisions of the Lease, as amended hereby, except only the payment of 1A Additional Base Rent (as hereinafter defined). Additionally, Tenant agrees that (y) Landlord’s obligations to provide the 1A Additional
Power shall commence on the 1A Commencement Date and shall not apply during the 1A Early Access Period, and (z) while Tenant shall not be required to pay 1A Additional Base Rent during the 1A Early Access Period, Tenant shall be required to pay
any and all electricity charges that accrue to the 1A Additional Premises during the 1A Early Access Period. 
 ARTICLE 2:
PATHWAYS 
 A. ADDITIONAL PATHWAYS. The Tenant will operate the business activities and datacentre activities that are/ will be
carried out on the 1 A Additional Premises in conjunction with the Original Leased Premises and the premises in the building already occupied by EQUINIX FRANCE SAS under the terms of the commercial lease dated July 21, 2006, and to this end the
Tenant will require additional pathways and ducts interconnecting these areas and premises. 
  

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 B. Subject to Landlord’s prior written approval, which shall not be unreasonably withheld,
conditioned or delayed and which shall be sought in compliance with the provisions of article 11.2.1, the Tenant has the right, as of the 1A Commencement Date, to install new additional technical ducts (collectively, the “1A Additional
Pathways”) of a maximum of 80 mm to 100 mm each, grouped into routes, for the sole purpose of connecting the 1A Additional Premises with the Original Leased Premises and/or the premises in the Building already occupied by EQUINIX FRANCE SAS
under the terms of the commercial lease dated July 21, 2006 (the areas corresponding to the premises leased under this separated lease dated July 21, 2006, are collectively referred to herein as “PA2 Area”), or to areas in
use by Landlord for connecting Networks (“PoP rooms”, or fiber entry points). 
 Such Tenant’s installation shall be subject to
(and, during such period, Tenant must comply with) all of the terms and provisions of the Lease, as amended hereby, including – but not limited to- Articles 11.2.1., 11.2.2. and 11.2.10 of the Lease. 

C. TOTAL PATHWAYS. Accordingly, effective as of the 1A Commencement Date, the third paragraph of Article 11.2.10 of the Lease is hereby amended in
its entirety to read as follows: 
 “The Landlord authorizes the Tenant, as of the execution date of the Lease, to install a
maximum of twelve (12) technical ducts of a maximum of 80 mm each, grouped into routes, for the sole purpose of connecting the Original Leased Premises with the premises in the Building already occupied by the EQUINIX FRANCE SAS under the terms
of the commercial lease dated July 21, 2006. An example of how the ducts may be routed appears in Annex 11. Additionally, subject to Landlord’s prior written approval, which shall not be unreasonably withheld conditioned or delayed,
the Tenant has the right, as of the 1A Commencement Date, to install new additional technical ducts of a maximum of 80 mm to 100 mm each, grouped into routes, for the sole purpose of connecting the 1A Additional Premises with the Original Leased
Premises and the premises in the Building already occupied by EQUINIX FRANCE SAS under the terms of the commercial lease dated July 21, 2006, or to areas in use by Landlord for connecting Networks (“PoP rooms”, or fiber entry points).
Such Tenant’s installation shall be subject to (and, during such period, Tenant must comply with) all of the terms and provisions of the Lease, as amended.” 

Landlord shall grant to Tenant regular and reasonable access for installation and maintenance of these connections. 

ARTICLE 3: ELECTRICAL POWER 

A. ADDITIONAL ELECTRICAL POWER. Commencing on the 1A Commencement Date, the Tenant shall have access to, and the Tenant’s Electricity
Consumption Threshold shall be increased by, 3Mva (hereinafter the “1A Additional Power”). 
  

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 B. TOTAL ELECTRICAL POWER. Accordingly, effective as of the 1A Commencement Date: 

(i) The last sentence of Article 1.1 of the Lease is hereby amended in its entirety to read as follows: “The Tenant shall have
access to a gross electric output of 15Mva for the Leased Premises.” 
 (ii) The third paragraph of Article
11.2.3 of the Lease is hereby amended in its entirety to read as follows: 
 “The Tenant shall have access to a gross
electric output of 15Mva for the Leased Premises, it being specified that the Landlord shall not disturb the Tenant’s use of such power. The Tenant shall be solely responsible for entering into all electricity supply contracts for
the Leased Premises and shall bear all costs relating to the provision of this electricity supply to said premises.” 

(iii) The first sentence of Article 11.3 of the Lease is hereby amended in its entirety to read as follows: “The Tenant’s
actual electricity consumption for the Leased Premises, as reasonably determined by the Landlord shall not, at any time, exceed 15Mva for the Leased Premises (the “Electricity Consumption Threshold”).” 

C. CONTACTS WITH ERDF. Landlord will use reasonable efforts to support Tenant with its dealings with Electricité Réseau Distribution
France (ERDF) regarding utility electricity supply. In the event there is a need for works to be carried out by ERDF to the ERDF infrastructure extent at the Building, these works will be subject to the prior written consent of the Landlord, such
consent to be at the sole and absolute discretion of the Landlord. 
 ARTICLE 4: WORKS AND FITTING-OUTS 

 

	A.	WORKS PERFORMED BY TENANT PRIOR TO THIS AMENDMENT. Without prejudice of the provisions of the Lease, including in particular Article 11.2.1., Tenant shall
provide Landlord with “as built” drawings of the works performed by the Tenant, or on behalf of the Tenant, in the Leased Premises prior to the execution of this Amendment within sixty (60) days as from execution of the Amendment.

 Within fifteen (15) days upon receipt of these “as built” drawings, and provided that these
“as built” drawings are satisfactory to Landlord, Landlord shall approve each drawing in writing. 
 However, Tenant
acknowledges and agrees that, in no event shall this Landlord’s approval be considered as a waiver of Tenant’s exclusive responsibility for the performance of such works. For the avoidance of doubt Tenant hereby acknowledges and agrees
that these works were performed in its sole and absolute responsibility, and Tenant hereby agrees to indemnify Landlord and hold Landlord harmless from, any and all claim arising in connection with the performance of said works. 

 

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	B.	AMENDED PROCEDURE FOR TENANT’S WORKS. Effective as of the 1A Commencement Date: 

(i) the third
(3rd) paragraph of Article 11.2.1 of the Lease is
hereby amended in its entirety to read as follows: 
 “With regard to work requiring the Landlord’s approval, the
Tenant shall submit in writing a request to the Landlord, including a description of the work planned, accompanied by the related technical and architect’s plans, a risk analysis, a provisional work timetable and a report issued by an approved
inspection agency without any reservations. The Landlord shall not withhold its authorization of such work without valid reason. The Landlord undertakes to reply within no more than fifteen (15) days of receipt of the complete file referred to
above. In the absence of a reply within this time limit, the Landlord shall be deemed to have accepted the Tenant’s work, the Tenant being entitled to require later on from the Landlord a written confirmation that the works were deemed accepted
by him”; and 
 (ii) The fourth
(4th) paragraph of Article 11.2.1. is hereby deleted
in its entirety. 
  

	C.	LANDLORD’S INSTALLATIONS. Landlord agrees to perform the Landlord’s Additional Installations defined in Annex 3 to this Amendment prior to the
1A Commencement Date and as soon as possible after execution of this Amendment. 

  

	D.	ACCESS TO PA2 AREA AND TO PA3 AREA. Landlord acknowledges that Tenant intends to create in the POD4 Area several accesses to the PA2 and PA3 Areas, both at the
ground floor and mezzanine level, as shown in Annex 2A to this Amendment, in order to operate its business activities and datacentre activities. However, in no event shall such Landlord’s acknowledgement be construed as authorization to
proceed with said works. Each of said works shall be subject to the prior written approval of the Landlord, in accordance with the terms and provisions of the Lease, including, but not limited to, Article 11.2.1. 

In this respect, Tenant undertakes that any and all work referred to under D. shall be carried out in its sole and absolute
responsibility, and that prior to such realisation, Tenant shall cause EQUINIX FRANCE SAS, as Tenant under the lease dated July 21, 2006, to jointly and severally sign with Tenant a written request for authorization to Landlord identical to the
form attached hereto under Annex 2.C, whereby Tenant and EQUINIX FRANCE SAS further agree unconditionally and irrevocably that any such work, and any consequence resulting therefrom, will be subject to the exclusive terms and conditions of
the Lease, as amendment hereby. 
  

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 ARTICLE 5: ACCESS TO F2 AREA - LANDLORD’S MAINTENANCE 

Without prejudice of the provisions of the Lease, including in particular Article 11.2.10, Tenant hereby acknowledges and agrees that Landlord shall have
reasonable access to the F2 Area (as this area is demarcated in Annex 2A to this Amendment) at the mezzanine level of the Building, for the ongoing maintenance and repair of Landlord’s installations located above said F2 Area.

 ARTICLE 6: RENT 

A. 1A ADDITIONAL BASE RENT. This Amendment is entered into in consideration of an annual rent for all of the 1A Additional
Premises and 1A Additional Pathways of, and the Base Rent under the Lease is hereby increased by, seven hundred eighty-eight thousand four hundred two and 40/100 Euros (€ 788,402.40) exclusive of tax and charges (hereinafter the “1A
Additional Base Rent”), as of from Month 25, is October 2010, it being specified that the Tenant shall benefit from a rent abatement for the period between the 1A Commencement Date and the end of the third
(3rd) calendar month thereafter, or 31 September
2010. No 1A Additional Base Rent shall be payable before 1 October 2010. The Tenant shall nevertheless pay all of the charges referred to in Article 7 of the Lease, as amended hereby, as from the 1A Commencement Date. 

The 1A Additional Base Rent is subject to an annual increase of three percent (3%) per year, exclusive of tax and charges on each
anniversary date of the Date of Entry into the Premises (or 1 October 2008, as this term is defined in the Lease), or as indicated hereinafter: 
  

				
	 Month of Lease Term
	  	Monthly 1A Additional Base Rent,
excluding taxes
	 22-24
	  	 	Abattement period
	 25-36
	  	€	 65,700.20
	 37-48
	  	€	 67,671.21
	 49-60
	  	€	 69,701.34
	 61-72
	  	€	 71,792.38
	 73-84
	  	€	 73,946.15
	 85-96
	  	€	76,164.54
	 97-108
	  	€	78,449.47
	 109-120
	  	€	80,802.96
	 121-132
	  	€	83,227.05
	 133-144
	  	€	85,723.86

  

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 B. TOTAL BASE RENT. Accordingly, effective as of the 1A Commencement Date, or 1 July 2010,
Article 6.1 of the Lease is hereby amended to read as follows for the period starting at month 22 of the Term: 
 “The Base
Rent is subject to an annual increase of three percent (3%) per year, exclusive of tax and charges on each anniversary date of the Date of Entry into the Premises (as this term is defined in the Lease), or as indicated hereinafter: 

 

				
	 Month of Lease Term
	  	Total Monthly Base 
Rent,
excluding taxes
	 22-24
	  	€	279,388.00
	 25-36
	  	€	353,469.20
	 37-48
	  	€	364,073.21
	 49-60
	  	€	374,995.34
	 61-72
	  	€	386,245.38
	 73-84
	  	€	397,833.15
	 85-96
	  	€	409,767.54
	 97-108
	  	€	422,060.47
	 109-120
	  	€	434,722.96
	 121-132
	  	€	447,764.05
	 133-144
	  	€	461,196.86”

 C. CHARGES, SERVICE
COSTS AND EXPENSES. Commencing on the 1A Commencement Date, Tenant’s portion of all taxes, costs and expenses for the Property, as set forth in Article 7.1 of the Lease, is hereby increased by 11% (eleven percent) (the “1A Pro Rata
Increase”). Accordingly, effective as of the 1A Commencement Date, the reference to “53.18% (fifty-three and eighteen percent)” in Article 7.1 of the Lease is hereby deleted and replaced with “64.18% (sixty-four and eighteen
one-hundredths percent)” in lieu thereof. 
 The Parties agree that, Commencing on the 1A Commencement Date, and subject to its revision in
accordance with the terms and conditions of the Lease, the advanced payment for the charges and expenses for the Leased Premises, as amended hereby, for the month of July 2010 will amount to € 66,949.71, VAT excluded. 

ARTICLE 7: JOINT GUARANTY FROM EQUINIX INC. 

(i) The Tenant shall provide to the Landlord, within thirty (30) business days following the signature of this Amendment, a Joint and
Several Guarantee waving any Right to Contest or Divide liability (cautionnement conjoint et solidaire avec renonciation aux benefices de discussion et de division) by EQUINIX Inc., a company governed by the laws of the United States of
America, having its registered office at 3500 South Dupont Highway, Dover, Delaware, 19901, United States of America, registered on the companies register under number 06293383 (hereinafter, the “Guarantor”), strictly identical to
the form attached hereto as Annex 6 (the “Joint Guarantee”), to guarantee to the Landlord, and its assignees and successors, the payment of any rent or charges for which Tenant, its assignees and successors, may be liable
under the Lease and this Amendment, for any reason whatsoever, or for which the Landlord, and its assignees and successors, may be held liable on account of the Tenant, and its assignees and successors, hereunder, for any reason whatsoever.

 (ii) The Joint Guarantee shall be provided together with a legal opinion substantially in the form attached hereto as
Annex 7 (the “Legal Opinion”), prepared by the American law firm DAVIS POLK & WARDWELL LLP confirming that (a) Guarantor has been validly formed or incorporated, (b)

  

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Guarantor is authorized to enter into the Joint Guarantee, and no other consents or authorizations are required by any other third party in connection therewith, and (c) the individuals who
are executing the Joint Guarantee on Guarantor’s behalf are duly authorized and empowered by Guarantor to execute such document. 

(iii) Upon remittance from Tenant to Landlord, no later than thirty (30) business days following the signature of this Amendment, of
a duly executed original copy of the Joint Guarantee and of the Legal Opinion, in all respects in conformity with the aforementioned, then the Landlord shall deliver to the Tenant the original Guarantee provided to Landlord pursuant to Article
10.4.1. of the Lease in exchange for the Joint Guarantee. In such event, the provisions of Articles 10.4.4., 10.4.5 and 10.4.6. of the Lease shall apply mutatis mutandis, to the Joint Guarantee. 

(iv) The Tenant’s failure to provide the Landlord with the original copy of the Joint Guarantee and Legal Opinion referred to above,
within thirty (30) business days, at the latest, will result in this Amendment being declared null and void by operation of law, without any indemnity being owed to the Tenant, and without prejudice to any of the Landlord’s rights arising
under the Lease or this Amendment following such nullity. 
 ARTICLE 8: COMPLIANCE WITH ENVIRONMENTAL LAWS 

Notwithstanding anything to the contrary that is provided in the Lease, the Tenant shall, pursuant to the terms of Article 11.16 of the Lease, at the
Tenant’s sole cost and expense, timely take all action required to cause the Leased Premises to comply at all times during the term of the Lease in all respects with all Applicable Laws. 

In addition, a new paragraph is hereby added after Article 11.6.4,
3rd paragraph of the Lease: “Tenant shall provide all
monitoring results and/or any other up-to-date documentation showing compliance of its activities in the Leased Premises and of any ICPE located therein with Applicable Laws (including, without limitation, Environmental Laws) upon request from the
Landlord, in order for Landlord to prepare for, and to respond to, any request for information and/or documentation from any competent administrative authority; if Tenant fails to provide the results/documentation in the requested timeframe,
Landlord will be entitled to have access to the site and perform all adequate compliance audit at the Tenant’s sole expense.” 

ARTICLE 9: NATURE OF THE LEASE. 

A. This Amendment is governed by the provisions of Articles L. 145-1 to L. 145-60 of the French Commercial Code as well as by the provisions of
Articles D. 145-12 to D. 145-19 and those of Articles R. 145-1 to R 145-33 of the French Commercial Code, and by the provisions of Article 33 of the French Decree no. 53-960 of 30 September 1953. 

B. The third and fourth sentences of the second paragraph of Article 2 of the Lease are hereby amended in their entirety to read as follows:
“The Landlord reserves the right to conduct a biannual audit of the Tenant’s insurance certificates for the Leased Premises and equipment. In regards to this biannual audit, the Tenant shall make available to
the Landlord the maintenance records concerning equipment installed by Tenant in the Leased Premises.” 
  

 -14- 

 C. The last sentence of the second paragraph of Article 2 of the Lease is hereby amended in its
entirety to read as follows: “These biannual audits and these inspections shall be at the sole cost of the Landlord.” 

ARTICLE 10: SECURITY DEPOSIT AND FIRST DEMAND GUARANTEE 

In lieu of the Security Deposit (as defined in Article 10.1 of the Lease), Tenant agrees to provide Landlord, within thirty (30) days following the
date of this Amendment, with a first demand guarantee drafted in French and issued by an institutional lender of good financial standing, exercisable in France only, and payable to Landlord upon demand in the amount of Euros 1,612,500.00, and
substantially similar to the form attached hereto under Annex 8 (the “First Demand Guarantee”). Such First Demand Guarantee will be re-issued in a substantially similar form, in the event of renewal of the Lease or of
a transfer of the Building to any successors and assigns of the Landlord. Within five (5) business days following Landlord’s receipt of the First Demand Guarantee, Landlord agrees to return to Tenant the then current amount of the Security
Deposit and any interests due on the Security Deposit in accordance with the provisions of Article 10 of the Lease, and thereafter no cash Security Deposit shall be held anymore by Landlord under the Lease. 

ARTICLE 11: MISCELLANEOUS 

A. The amount of domestic fuel which Landlord authorises the Tenant to use, for the purposes of its business activity in the
Leased Premises, as set forth in Article 11.16.3 of the Lease, is hereby amended to be 240
m3. 

B. In the event that the terms of the Lease conflict or are inconsistent with those of this Amendment, the terms of this Amendment shall govern.

 C. The Lease is hereby amended as and where necessary to give effect to the express terms of this Amendment. 

D. This Amendment shall become effective only upon the execution and delivery by both the Landlord and the Tenant. 

E. An English translation of this Amendment is attached hereto, and incorporated herein, as Annex 9 (the “English 1A
Translation”). 
 The parties hereby specifically acknowledge and agree, as follows: 

a. The English 1A Translation attached as Annex 9 has been attached for ease of reference. 

b. Clause a., above, notwithstanding, in the event that there are any translational discrepancies between the English 1A Translation and
the Amendment (to which the English 1A Translation is attached), the parties hereby specifically acknowledge and agree that the Amendment (i.e., the French version of the Amendment) shall govern and control. 

 

 -15- 

 IN PARIS, 

ON    MARCH, 2010 
 IN TWO
(2) COPIES 
  

			
	THE LANDLORD	  	THE TENANT

  

 -16- 

 GUARANTEE FOR 

RENT AND CHARGES PAYMENT 

EQUINIX INC., a company incorporated under the Laws of Delaware, the registered office of which is situated 3500 South Dupont Highway, Dover, DE
19901, Delaware, USA, registered under number 29 11 438, represented by Mr. Stephen Smith, as Director, duly authorised for the purpose of this Guarantee 

Hereafter “the Guarantor” 

Declares that it guarantees the undertakings: 

of EQUINIX PARIS SAS, a French société par actions simplifiée, with share capital of € 37,000, the registered
office of which is situated 167, rue de la Belle Etoile Parc d’Activité Paris Nord II – 95700 Roissy-en-France, registered at the French Trade and Companies Registry of Pontoise under number 508 444 551. 

Hereafter “the Guaranteed Party” 

Or “the Tenant” 

In favour of: 
 DIGITAL
REALTY (PARIS2) SCI, a French société civile immobilière, with share capital of € 866,000, the registered office of which is situated 52, rue de la Victoire, 75009 Paris, registered at the French
Trade and Companies Registry under number 492 802 947 R.C.S. Paris, and of any future owner of the leased premises 

Hereafter “the Lessor” 

In respect of the payment of rents and charges that the Guaranteed Party may owe to the Lessor under the terms of the attached lease
agreement dated 30th September 2008 (Annex 1) and
its amendment n° 1 dated [—] March 2010 (Annex 2) between the Lessor and the Guaranteed Party for premises located at 114 rue Ambroise Croizat, 93220 Saint-Denis, for a fixed term of
12 years, starting on 1st October 2008 and ending on
30th September 2020, such guarantee being maintained
in the event of renewal (hereafter the “Lease Agreement”). 
 To this end, the Guarantor waives its right to request that the Lessor
(i) seeks prior enforcement against the Guaranteed Party (bénéfice de discussion) and (ii) apportions its claim against all debtors pro rata to their share of the debt (bénéfice de
division). 
  

 -1- 

 This Guarantee can only be validly called by registered letter with acknowledgement of receipt sent by the
Lessor to the Guarantor at its registered office during the time when it is valid and within 3 month after the Tenant’s default, and after unsuccessful formal notice to pay sent to the Tenant in the terms and conditions of the Lease Agreement.

 Such registered letter shall contain all the relevant documents evidencing the sums for which the Guarantee is called. 

Payment must be made within eight (8) working days from the date of the receipt by the Guarantor of the registered letter with acknowledgement of
receipt referred to above. 
 This undertaking shall be irrevocable and unconditional as from the Date of Entry into Possession and throughout
the entire term of the Lease Agreement, including its further renewals. 
 All costs and duties resulting from this Guarantee shall be borne by
the Guarantor. 
 Any and all disputes arising from the interpretation or performance of this Guarantee shall be subject to the exclusive
jurisdiction of the Courts under the competence of the Paris Court of Appeal that shall apply French Law. 
 Signature 

Annex 1 – Commercial Lease dated 30 September 2008 

Annex 2 – Amendment dated    March 2010 

 

 -2-Federated Investors, Inc. Stock Incentive Plan

 Exhibit 10.1 

FEDERATED INVESTORS, INC. 

STOCK INCENTIVE PLAN 

(Adopted as of February 20, 1998) 

(Amended as of August 26,1998) 

(Amended as of August 31, 1998) 

(Amended as of January 26, 1999) 

(Amended as of May 17, 1999) 

(Amended as of July 20, 1999) 

(Amended as of January 29, 2002) 

(Approved by Shareholders April 24, 2002) 

(Amended as of February 5, 2004) 

(Amended as of April 19, 2004) 

(Amended as of April 27, 2006) 

(Amended as of April 22, 2010) 
  

	1.	Purpose 

The purpose of the Federated Investors, Inc. Stock Incentive Plan (the “Plan”) is to: 

 

	 	(a)	Facilitate the assumption by Federated Investors, Inc., as the surviving corporation of a merger with its parent corporation, Federated Investors, of certain stock
incentive awards previously made by Federated Investors to its employees; and 

  

	 	(b)	Continue to promote the long-term growth and performance of Federated Investors, Inc. and its affiliates and to attract and retain outstanding individuals by awarding
directors, executive officers and key employees stock options, stock appreciation rights, performance awards, restricted stock and/or other stock-based awards. 

 

	2.	Definitions 

The following definitions are applicable to the Plan: 

“Award” means the grant of Options, SARs, Performance Awards, Restricted Stock or other stock-based award under the
Plan. 
 “Board” means the Board of Directors of the Company. 

“Board Committee” means the committee of the Board appointed in accordance with Section 4 to administer the Plan.

 “Code” means the Internal Revenue Code of 1986, as amended. 

 “Commission” means the Securities and Exchange Commission. 

“Common Stock” means the Class B Common Stock of the Company, no par value per share. 

“Company” means Federated Investors, Inc., a Pennsylvania corporation, and its successors and assigns. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Fair Market Value” means, on any date, the closing sale price of one share of Common Stock, as reported on the New York
Stock Exchange or any national securities exchange on which the Common Stock is then listed or on The NASDAQ Stock Market’s National Market (“NNM”) if the Common Stock is then quoted thereon, as published in the Wall Street
Journal or another newspaper of general circulation, as of such date or, if there were no sales reported as of such date, as of the last date preceding such date as of which a sale was reported. In the event that the Common Stock is not listed for
trading on a national securities exchange or authorized for quotation on NNM, Fair Market Value shall be the closing bid price as reported by The NASDAQ Stock Market or The NASDAQ SmallCap Market (if applicable), or if no such prices shall have been
so reported for such date, on the next preceding date for which such prices were so reported. In the event that the Common Stock is not listed on the New York Stock Exchange, a national securities exchange or NNM, and is not listed for quotation on
The NASDAQ Stock Market or The NASDAQ SmallCap Market, Fair Market Value shall be determined in good faith by the Board Committee in its sole discretion, and for this purpose the Board Committee shall be entitled to rely on the opinion of a
qualified appraisal firm with respect to such Fair Market Value, but the Board Committee shall in no event be obligated to obtain such an opinion in order to determine Fair Market Value. 

“Grant Date” means the date on which the grant of an Option under Section 5.1 hereof or a SAR under
Section 6.1 hereof becomes effective pursuant to the terms of the Stock Option Agreement or Stock Appreciation Rights Agreement, as the case may be, relating thereto. 

“Incentive Stock Option” means an option to purchase shares of Common Stock designated as an incentive stock option and
which complies with Section 422 of the Code. 
 “Non-Statutory Stock Option” means an option to purchase
shares of Common Stock which is not an Incentive Stock Option. 
 “Offering” means the initial public offering
of Class B Common Stock by United States and international underwriters. 
 “Option” means any option to
purchase shares of Common Stock granted under Sections 5.1 hereof. 
  

 -2- 

 “Option Price” means the purchase price of each share of Common Stock under
an Option. 
 “Outside Director” means a member of the Board who is not an employee of the Company or any
Subsidiary. 
 “Participant” means any Outside Director and any salaried employee of the Company and its
affiliates designated by the Board Committee to receive an Award under the Plan. 
 “Performance Award” means
an Award of shares of Common Stock granted under Section 7. 
 “Performance Period” means the period of
time established by the Board Committee for achievement of certain objectives under Section 7.1 hereof. 

“Restriction Period” means the period of time specified in a Performance Share Award Agreement or a Restricted Stock
Award Agreement, as the case may be, between the Participant and the Company during which the following conditions remain in effect: (i) certain restrictions on the sale or other disposition of shares of Common Stock awarded under the Plan, and
(ii) subject to the terms of the applicable agreement, a requirement of continued employment of the Participant in order to prevent forfeiture of the Award. 

“Stock Appreciation Rights” or “SARs” means the right to receive a cash payment from the Company equal
to the excess of the Fair Market Value of a stated number of shares of Common Stock at the exercise date over a fixed price for such shares. 

“Subsidiary” means any corporation, business trust or partnership (other than the Company) in an unbroken chain of
corporations, business trusts or partnerships beginning with the Company if each of the corporations, business trusts or partnerships (other than the last corporation, business trust or partnership in the chain) owns stock, beneficial interests or
partnership interests possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations, business trusts or partnerships in the chain. 

“Ten Percent Holder” means a person who owns (within the meaning of Section 424(d) of the Code) more than ten
percent of the voting power of all classes of stock of the Company or of its parent corporation or Subsidiary. 
  

	3.	Shares Subject to Plan 

3.1 Shares Reserved under the Plan. Subject to adjustment as provided in Section 3.2, the number of shares of Common Stock
cumulatively available under the Plan shall equal 23,550,000 shares. All of such authorized shares of Common Stock shall be available for the grant of Incentive Stock Options under the Plan. No Participant shall receive Awards in respect of more
than 900,000 shares of Common Stock in any fiscal year of the Company. In addition, the aggregate Fair Market Value (determined on the Grant Date) of Common Stock with respect to which Incentive Stock Options granted a Participant

  

 -3- 

 
become exercisable for the first time in any single calendar year shall not exceed $100,000. Any Common Stock issued by the Company through the assumption or substitution of outstanding grants
from an acquired corporation or entity shall not reduce the shares available for grants under the Plan. Shares of Common Stock to be issued pursuant to the Plan may be authorized and unissued shares, treasury shares, or any combination thereof.
Subject to Section 6.2 hereof, if any shares of Common Stock subject to an Award hereunder are forfeited or any such Award otherwise terminates without the issuance of such shares of Common Stock to a Participant, or if any shares of Common
Stock are surrendered by a Participant in full or partial payment of the Option Price of an Option, such shares, to the extent of any such forfeiture, termination or surrender, shall again be available for grant under the Plan. 

3.2 Adjustments. The aggregate number of shares of Common Stock which may be awarded under the Plan and the terms of outstanding
Awards shall be adjusted by the Board Committee to reflect a change in the capitalization of the Company, including but not limited to, a stock dividend or split, recapitalization, reorganization, merger, consolidation, combination, exchange of
shares, spin-off, spin-out or other distribution of assets to shareholders. 
 3.3 Merger With Federated Investors.
Notwithstanding the foregoing, the Company’s merger with Federated Investors and assumption of its outstanding stock incentive awards will not result in any adjustment to the number of shares available under the Plan and will reduce the number
of shares available under this Plan accordingly. For purposes of this Plan, after the merger all such stock incentive awards shall be treated as Awards under this Plan, except that any Grant Date, Performance Period or Restricted Period shall relate
back to the date on which the awards were made by Federated Investors. 
  

	4.	Administration of Plan 

4.1 Administration by the Board Committee. The Plan shall be administered as follows. 

 

	 	(a)	Prior to an Offering, the Plan shall be administered by either the full Board or by the Board Committee if one is established by the Board. Prior to an Offering, any
member of the Board may serve on the Board Committee. 

  

	 	(b)	After an Offering, the Plan shall be administered by the Board Committee, which shall consist of no fewer than two members of the Board who are
(i) “Non-Employee Directors” for purposes of Rule 16b-3 of the Commission under the Exchange Act and (ii) to the extent required to ensure that awards under the Plan are exempt for purposes of Section 162(m) of the Code,
“outside directors” for purposes of Section 162(m); provided, however, that the Board Committee may delegate some or all of its authority and responsibility under the Plan with respect to Awards to Participants who are
not subject to Section 16 of the Exchange Act to the Chief Executive Officer of the Company. In the event that, after an Offering, the Board does not have two members who qualify as “Non-Employee Directors” for purposes of Rule 16b-3,
the Plan shall be administered by the full Board. 

  

 -4- 

	 	(c)	The Board Committee shall have authority to interpret the Plan, to establish, amend, and rescind any rules and regulations relating to the Plan, to prescribe the form
of any agreement or instrument executed in connection herewith, and to make all other determinations necessary or advisable for the administration of the Plan. All such interpretations, rules, regulations and determinations shall be conclusive and
binding on all persons and for all purposes. In addition, the Board Committee shall have authority, without amending the Plan, to grant Awards hereunder to Participants who are foreign nationals or employed outside the United States or both, on
terms and conditions different from those specified herein as may, in the sole judgment and discretion of the Board Committee, be necessary or desirable to further the purpose of the Plan. 

 

	 	(d)	In the event that the Board does not establish a Board Committee for any reason, any reference in this Plan to the Board Committee shall be deemed to refer to the full
Board. 

 4.2 Designation of Participants. Participants shall be selected, from time to time, by the Board
Committee, from the Outside Directors and from those executive officers and key employees of the Company and its affiliates who, in the opinion of the Board Committee, have the capacity to contribute materially to the continued growth and successful
performance of the Company. 
  

	5.	Stock Options 

 5.1
Grants. Options may be granted, from time to time, to such Participants as may be selected by the Board Committee on such terms, not inconsistent with this Plan, as the Board Committee shall determine;
provided, however, that, unless permitted by the Code, Incentive Stock Options may not be granted to a Participant who is an Outside Director. The Option Price shall be determined by the Board Committee
effective on the Grant Date; provided, however, that (i) in the case of Incentive Stock Options granted to a Participant who on the Grant Date is not a Ten Percent Holder, such price shall not be less
than one hundred percent (100%) of the Fair Market Value of a share of Common Stock on the Grant Date, (ii) in the case of an Incentive Stock Option granted to a Participant who on the Grant Date is a Ten Percent Holder, such price shall
be not less than one hundred and ten percent (110%) of the Fair Market Value of a share of Common Stock on the Grant Date, and (iii) in the case of Non-Statutory Stock Options, such price shall be not less than eighty-five percent
(85%) of the Fair Market Value of a share of Common Stock on the Grant Date. The number of shares of Common Stock subject to each Option granted to each Participant, the terms of each Option, and any other terms and conditions of an Option
granted hereunder shall be determined by the Board Committee, in its sole discretion, effective on the Grant Date; provided, however, that no Incentive Stock Option shall be exercisable any later than ten (10) years from
the Grant Date. Each Option shall be evidenced by a Stock Option Agreement between the Participant and the Company which shall specify the type of 

 

 -5- 

 
Option granted, the Option Price, the term of the Option, the number of shares of Common Stock to which the Option pertains, the conditions upon which the Option becomes exercisable and such
other terms and conditions as the Board Committee shall determine. 
 5.2 Payment of Option Price. No shares of Common
Stock shall be issued upon exercise of an Option until full payment of the Option Price therefor by the Participant. Upon exercise, the Option Price may be paid in cash, and, subject to approval by the Board Committee, in shares of Common Stock
having a Fair Market Value equal to the Option Price, or in any combination thereof, or in any other manner approved by the Board Committee. 

5.3 Rights as Shareholders. Participants shall not have any of the rights of a shareholder with respect to any shares subject to
an Option until such shares have been issued upon the proper exercise of such Option. 
 5.4 Transferability of Options.
Options granted under the Plan may not be sold, transferred, pledged, assigned, hypothecated or otherwise disposed of except by will or by the laws of descent and distribution; provided, however, that, if
authorized in the applicable Award agreement, a Participant may make one or more gifts of Options granted hereunder to members of the Participant’s immediate family or trusts or partnerships for the benefit of such family members. All Options
granted to a Participant under the Plan shall be exercisable during the lifetime of such Participant only by such Participant, such Participant’s agent, guardian or attorney-in-fact; provided, however, that all Options transferred in a manner
consistent with the terms of an Award agreement may be exercised by the transferee. 
 5.5 Termination of
Employment/Directorship. If a Participant ceases to be an employee of either the Company or of any of its affiliates, any Options granted hereunder to such Participant as an employee shall be exercisable in accordance with the Stock Option
Agreement between the Participant and the Company. If a Participant ceases to be an Outside Director, any Options granted hereunder to such Participant as an Outside Director shall be exercisable in accordance with the Stock Option Agreement between
the Participant and the Company. 
 5.6 Designation of Incentive Stock Options. Except as otherwise expressly provided in
the Plan, the Board Committee may, at the time of the grant of an Option, designate such Option as an Incentive Stock Option under Section 422 of the Code. 

5.7 Certain Incentive Stock Option Terms. In the case of any grant of an Incentive Stock Option, whenever possible, each provision
in the Plan and in any related agreement shall be interpreted in such a manner as to entitle the Option holder to the tax treatment afforded by Section 422 of the Code, and if any provision of this Plan or such agreement shall be held not to
comply with requirements necessary to entitle such Option to such tax treatment, then (i) such provision shall be deemed to have contained from the outset such language as shall be necessary to entitle the Option to the tax treatment afforded
under Section 422 of the Code, and (ii) all other provisions of this Plan and the agreement relating to such Option shall remain in full force and effect. If any agreement 

 

 -6- 

 
covering an Option designated by the Board Committee to be an Incentive Stock Option under this Plan shall not explicitly include any terms required to entitle such Incentive Stock Option to the
tax treatment afforded by Section 422 of the Code, all such terms shall be deemed implicit in the designation of such Option and the Option shall be deemed to have been granted subject to all such terms. 

 

	6.	Stock Appreciation Rights 

6.1 Grants. Stock Appreciation Rights may be granted, from time to time, to such Participants as may be selected by the Board
Committee. SARs may be granted at the discretion of the Board Committee either (i) in connection with an Option or (ii) independent of an Option. The price from which appreciation shall be computed shall be established by the Board
Committee at the Grant Date; provided, however, that such price shall not be less than one-hundred percent (100%) of the Fair Market Value of the number of shares of Common Stock subject of the grant on the Grant Date. In
the event the SAR is granted in connection with an Option, the fixed price from which appreciation shall be computed shall be the Option Price. Each grant of a SAR shall be evidenced by a Stock Appreciation Rights Agreement between the Participant
and the Company which shall specify the type of SAR granted, the number of SARs, the conditions upon which the SARs vest and such other terms and conditions as the Board Committee shall determine. 

6.2 Exercise of SARs. SARs may be exercised upon such terms and conditions as the Board Committee shall determine; provided,
however, that SARs granted in connection with Options may be exercised only to the extent the related Options are then exercisable. Notwithstanding Section 3.1 hereof, upon exercise of a SAR granted in connection with an Option
as to all or some of the shares subject of such Award, the related Option shall be automatically canceled to the extent of the number of shares subject of the exercise, and such shares shall no longer be available for grant hereunder. Conversely, if
the related Option is exercised as to some or all of the shares subject of such Award, the related SAR shall automatically be canceled to the extent of the number of shares of the exercise, and such shares shall no longer be available for grant
hereunder. 
 6.3 Payment of Exercise. Upon exercise of a SAR, the holder shall be paid in cash the excess of the Fair
Market Value of the number of shares subject of the exercise over the fixed price, which in the case of a SAR granted in connection with an Option shall be the Option Price for such, shares. 

6.4 Rights of Shareholders. Participants shall not have any of the rights of a shareholder with respect to any Options granted in
connection with a SAR until shares have been issued upon the proper exercise of an Option. 
 6.5 Transferability of
SARs. SARs granted under the Plan may not be sold, transferred, pledged, assigned, hypothecated or otherwise disposed of except by will or by the laws of descent and distribution. All SARs granted to a Participant under the Plan shall be
exercisable during the lifetime of such Participant only by such Participant, such Participant’s agent, guardian, or attorney-in-fact. 
  

 -7- 

 6.6 Termination of Employment/Directorship. If a Participant ceases to be an employee
of either the Company or of any of its affiliates, any SARs granted hereunder to such Participant as an employee shall be exercisable in accordance with the Stock Appreciation Rights Agreement between the Participant and the Company. If a
Participant ceases to be an Outside Director, any SARs granted hereunder to such Participant as an Outside Director shall be exercisable in accordance with the Stock Appreciation Rights Agreement between the Participant and the Company. 

 

	7.	Performance Awards 

 7.1
Awards. Awards of shares of Common Stock may be made, from time to time, to such Participants as may be selected by the Board Committee. Such shares shall be delivered to the Participant only upon (i) achievement of such corporate,
sector, division, individual or any other objectives or criteria during the Performance Period as shall be established by the Board Committee and (ii) the expiration of the Restriction Period. Except as provided in the Performance Share Award
Agreement between the Participant and the Company, shares subject to such Awards under this Section 7.1 shall be released to the Participant only after the expiration of the relevant Restriction Period. Each Award under this Section 7.1
shall be evidenced by a Performance Share Award Agreement between the Participant and the Company which shall specify the applicable performance objectives, the Performance Period, the Restriction Period, any forfeiture conditions and such other
terms and conditions as the Board Committee shall determine. 
 7.2 Stock Certificates. Upon an Award of shares of Common
Stock under Section 7.1 of the Plan, the Company shall issue a certificate registered in the name of the Participant bearing the following legend and any other legend required by any federal or state securities laws or by the Pennsylvania
Business Corporation Law: 
 “The sale or other transfer of the shares of stock represented by this certificate is subject
to certain restrictions set forth in the Federated Investors, Inc. Stock Incentive Plan, administrative rules adopted pursuant to such Plan and a Performance Share Award Agreement between the registered owner and Federated Investors, Inc. A copy of
the Plan, such rules and such Agreement may be obtained from the Secretary of Federated Investors, Inc.” 
 Unless otherwise provided in
the Performance Share Award Agreement between the Participant and the Company, such certificates shall be retained by the Company until the expiration of the Restriction Period. Upon the expiration of the Restriction Period, the Company shall
(i) cause the removal of the legend from the certificates for such shares as to which a Participant is entitled in accordance with the Performance Share Award Agreement between the Participant and the Company and (ii) release such shares
to the custody of the Participant. 
 7.3 Rights as Shareholders. Subject to the provisions of the Performance Share
Award Agreement between the Participant and the Company, during the Performance 
  

 -8- 

 
Period, dividends and other distributions paid with respect to all shares awarded thereto under Section 7.1 hereof shall, in the discretion of the Board Committee, either be paid to
Participants or held in escrow by the Company and paid to Participants only at such time and to such extent as the related Performance Award is earned. During the period between the completion of the Performance Period and the expiration of the
Restriction Period, Participants shall be entitled to receive dividends and other distributions only as to the number of shares determined in accordance with the Performance Share Award Agreement between the Participant and the Company. 

7.4 Transferability of Shares. Certificates evidencing the shares of Common Stock awarded under the Plan shall not be sold,
exchanged, assigned, transferred, pledged, hypothecated or otherwise disposed of until the expiration of the Restriction Period. 

7.5 Termination of Employment/Directorship. If a Participant ceases to be an employee of either the Company or of any of its
affiliates, the number of shares, if any, to which the Participant shall be entitled pursuant to any Award granted to such Participant as an employee under this Section 7 shall be determined in accordance with the Performance Share Award
Agreement between the Participant and the Company. If a Participant ceases to be an Outside Director, the number of shares, if any, to which the Participant shall be entitled pursuant to any Award granted to such Participant as an Outside Director
under this Section 7 shall be determined in accordance with the Performance Share Award Agreement between the Participant and the Company. 

7.6 Transfer of Employment. If a Participant transfers employment from one business unit of the Company or any of its affiliates
to another business unit during a Performance Period, such Participant shall be eligible to receive such number of shares of Common Stock as the Board Committee may determine based upon such factors as the Board Committee in its sole discretion may
deem appropriate. 
  

	8.	Restricted Stock Awards 

8.1 Awards. Awards of shares of Common Stock subject to such restrictions as to vesting and otherwise as the Board Committee shall
determine, may be made, from time to time, to Participants as may be selected by the Board Committee. The Board Committee may in its sole discretion at the time of the Award or at any time thereafter provide for the early vesting of such Award prior
to the expiration of the Restriction Period. Each Award under this Section 8.1 shall be evidenced by a Restricted Stock Award Agreement between the Participant and the Company which shall specify the vesting schedule, any rights of
acceleration, any forfeiture conditions, and such other terms and conditions as the Board Committee shall determine. 
 8.2
Stock Certificates. Upon an Award of shares of Common Stock under Section 8.1 of the Plan, the Company may issue a certificate registered in the name of the Participant bearing the following legend and any other legend required by any
federal or state securities laws or by the Pennsylvania Business Corporation Law. 
  

 -9- 

 “The sale or other transfer of the shares of stock represented by this certificate is
subject to certain restrictions set forth in the Federated Investors, Inc. Stock Incentive Plan, administrative rules adopted pursuant to such Plan and a Restricted Stock Award Agreement between the registered owner and Federated Investors, Inc. A
copy of the Plan, such rules and such agreement may be obtained form the Secretary of Federated Investors, Inc.” 
 Unless otherwise
provided in the Restricted Stock Award Agreement between the Participant and the Company, such certificates shall be retained in custody by the Company until the expiration of the Restriction Period. Upon the expiration of the Restriction Period,
the Company shall (i) cause the removal of the legend from the certificates for such shares as to which a Participant is entitled in accordance with the Restricted Stock Award Agreement between the Participant and the Company and
(ii) release such shares to the custody of the Participant. 
 8.3 Rights as Shareholders. During the Restriction
Period, Participants shall be entitled to receive dividends and other distributions paid with respect to all shares awarded thereto under Section 8.1 hereof. 

8.4 Transferability of Shares. Certificates evidencing the shares of Common Stock awarded under the Plan shall not be sold,
exchanged, assigned, transferred, pledged, hypothecated or otherwise disposed of until the expiration of the Restriction Period. 

8.5 Termination of Employment/Directorship. If a Participant ceases to be an employee of either the Company or of any of its
affiliates, the number of shares, if any, to which the Participant shall be entitled pursuant to any Award granted to such Participant as an employee under this Section 8 shall be determined in accordance with the Restricted Stock Award
Agreement between the Participant and the Company. If a Participant ceases to be an Outside Director, the number of shares, if any, to which the Participant shall be entitled pursuant to any Award granted to such Participant as an Outside Director
under this Section 8 shall be determined in accordance with the Restricted Stock Award Agreement between the Participant and the Company. All remaining shares as to which restrictions apply at the date of termination of employment shall be
forfeited subject to such exceptions, if any, authorized by the Board Committee. 
  

	9.	Other Stock-Based Awards 

Awards of shares of Common Stock and other awards that are valued in whole or in part by reference to, or are otherwise based on, Common
Stock, may be made, from time to time, to Participants as may be selected by the Board Committee. Such Awards may be made alone or in addition to or in connection with any other Award hereunder. The Board Committee may in its sole discretion
determine the terms and conditions, if any, of any such Award. Each such Award, other than an Award of shares of Common Stock without any terms or conditions such as an Award of immediately-vested shares of Common Stock, shall be evidenced by an
agreement between the Participant and the Company which shall specify 
  

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the number of shares of Common Stock subject of the Award, any consideration therefor, any vesting or performance requirements and such other terms and conditions as the Board Committee shall
determine. 
  

	10.	Reserved 

  

	11.	Amendment or Termination of Plan 

The Board may amend, suspend or terminate the Plan or any part thereof from time to time, provided that no change may be made which would
impair the rights of a Participant to whom shares of Common Stock have theretofore been awarded without the consent of said Participant. 
  

	12.	Miscellaneous 

 12.1
Rights of Employees. Nothing in the Plan shall interfere with or limit in any way the right of the Company or any affiliate to terminate any Participant’s employment at any time, nor confer upon any Participant any right to continued
employment with the Company or any affiliate. 
 12.2 Tax Withholding. The Company shall have the authority to withhold,
or to require a Participant to remit to the Company, prior to issuance or delivery of any shares or cash hereunder, an amount sufficient to satisfy federal, state and a local tax withholding requirements associated with any Award. In addition, the
Company may, in its sole discretion, permit a Participant to satisfy any tax withholding requirements, in whole or in part, by (i) delivering to the Company shares of Common Stock held by such Participant having a Fair Market Value equal to the
amount of the tax; (ii) directing the Company to retain shares of Common stock otherwise issuable to the Participant under the Plan; or (iii) any other method approved by the Board Committee. 

12.3 Status of Awards. Awards hereunder shall not be deemed compensation for purposes of computing benefits under any retirement
plan of the Company or affiliate and shall not affect any benefits under any other benefit plan now or hereafter in effect under which the availability or amount of benefits is related to the level of compensation. 

12.4 Waiver of Restrictions. The Board Committee may, in its sole discretion, based on such factors as the Board Committee may
deem appropriate, waive in whole or in part, any remaining restrictions or vesting requirements in connection with any Award hereunder. 

12.5 Adjustment of Awards. Subject to Section 11, the Board Committee shall be authorized to make adjustments in performance
award criteria or in the terms and conditions of other Awards in recognition of unusual or nonrecurring events affecting the Company or its financial statements or changes in applicable laws, regulations or accounting principles; provided
however, that no such adjustment shall impair the rights of any Participant without such Participant’s consent. The Board Committee may also make Awards hereunder in replacement of, or as alternatives to, Awards previously granted to
Participants, including 
  

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without limitation, previously granted Options having higher Option Prices and grants or rights under any other plan of the Company or of any acquired entity. The Board Committee may correct any
defect, supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem desirable to carry it into effect. In the event the Company shall assume outstanding employee benefit awards or the
right or obligation to make future such awards in connection with the acquisition of another corporation or business entity, the Board Committee may, in its discretion, make such adjustments in the terms of Awards under the Plan as it shall deem
appropriate. 
 12.6 Consideration for Awards. Except as otherwise required in any applicable agreement or by the terms
of the Plan, Participants under the Plan shall not be required to make any payment or provide consideration for an Award other than the rendering of services. 

12.7 Special Forfeiture Rule. Notwithstanding any other provision of this Plan to the contrary, the Board Committee shall be
authorized to impose additional forfeiture restrictions with respect to Awards granted under the Plan, including, without limitation, provisions for forfeiture in the event the Participant shall engage in competition with the Company or in any other
circumstance the Board Committee may determine. 
 12.8 Effective Date and Term of Plan. The Plan shall be effective as
of the date it is approved by the Board, subject to the approval thereof by the shareholders of the Company. Unless terminated under the provisions of Section 11 hereof, the Plan shall continue in effect indefinitely; provided,
however, that no Incentive Stock Options shall be granted after the tenth anniversary of the effective date of the Plan. 

12.9 Compliance with Section 162(m). It is the Company’s intent that compensation payable pursuant to Awards (other than
Awards of Restricted Stock which vest based solely on continued employment) to “covered employees” as such term is defined in Regulation 1.162-27(c)(2) promulgated under Section 162(m) of the Code, or any successor provision
(“Section 162(m)”), qualify as “performance-based compensation” as defined in Regulation 1.162-27(e) under Section 162(m). If any provision of this Plan or an Award is later found to make compensation intended to be
performance-based compensation ineligible for such treatment, the provision shall be deemed null and void, unless otherwise determined by a committee of the Board comprised solely of “outside directors” as such term is defined under
Regulation 1.162-27(e)(3) under Section 162(m). 
 12.10 Transferability of Awards. Notwithstanding anything to the
contrary contained in this Plan, any Award may be transferred to a “family member” as defined in and pursuant to the terms and conditions set forth in Section A.1.a.5 of the General Instructions to Form S-8 promulgated under the
Securities Act of 1933, as amended, as such provision may be amended from time to time, on such terms and conditions as may be determined by the Board Committee. 

12.11 Compliance with Laws. Notwithstanding anything to the contrary contained in this Plan or in any Award agreement, each Award
shall be subject to the 
  

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requirement, if at any time the Board Committee shall determine, in its sole discretion, that such requirement shall apply, that the listing, registration or qualification of any Award under this
Plan, or of the Common Stock, or property or other forms of payment issuable pursuant to any Award under this Plan, on any stock exchange or other market quotation system or under any federal or state law, or the consent or approval of any
government regulatory body, is necessary or desirable as a condition of, or in connection with, the granting of such Award or the exercise or settlement thereof, such Award shall not be granted, exercised or settled, in whole or in part, until such
listing, registration, qualification, consent or approval shall have been effected, obtained and maintained free of any conditions not acceptable to the Board Committee. Notwithstanding anything to the contrary contained in this Plan or in any Award
agreement, no shares of Common Stock or property or other forms of payment shall be issued under this Plan with respect to any Award unless the Board Committee shall be satisfied that such issuance will be in compliance with applicable laws and any
applicable rules of any stock exchange or other market quotation system on which such shares of Common Stock are listed. If the Board Committee determines that the exercise of any Option or Stock Appreciation Right would fail to comply with any
applicable law or any applicable rules of any stock exchange or other market quotation system on which the shares of Common Stock are listed, the Participant holding such Option or Stock Appreciation Right shall have no right to exercise such Option
or Stock Appreciation Right until such time as the Board Committee shall have determined that such exercise will not violate any applicable law or any such applicable rule, provided that such Option or Stock Appreciation Right shall not have expired
prior to such time. 
 12.12 Section 409A. Notwithstanding any provision of the Plan or an Award agreement to
the contrary, if any Award or benefit provided under this Plan is subject to the provisions of Section 409A of the Code, the provisions of the Plan and any applicable Award agreement shall be administered, interpreted and construed in a manner
necessary to comply with Section 409A of the Code or an exception thereto (or disregarded to the extent such provision cannot be so administered, interpreted or construed). In no event shall any member of the Board, the Board Committee or the
Company (or its employees, officers or directors) have any liability to any Participant (or any other person) due to the failure of an Award to satisfy the requirements of Section 409A of the Code. 

Stock numbers adjusted for stock splits as of April 19, 2004. 

Shares reserved for issuance reflect April 2006 increase. 
  

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