Document:

Amendment NO.1 to the Credit Agreement

 Exhibit 10.47 
  
 EXECUTION COPY 
  
 AMENDMENT NO. 1 TO THE 
 CREDIT
AGREEMENT 
  
 Dated as of May 11, 2005

  
 AMENDMENT NO. 1 TO THE CREDIT AGREEMENT (this
“Amendment”) among Digital Realty Trust, L.P. (the “Borrower”); Citicorp North America, Inc. (“CNAI”), as administrative agent (the “Administrative
Agent”), the financial institutions party to the Credit Agreement referred to below (collectively, the “Lender Parties”), Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill
Lynch”), as syndication agent (the “Syndication Agent”), Bank of America, N.A., KeyBank National Association and Royal Bank of Canada (the “Co-Documentation Agents”), and Citigroup Global
Markets Inc. and Merrill Lynch (the “Arrangers”). 
  
 PRELIMINARY STATEMENTS: 
  
 (1) The Borrower, Digital Realty Trust, Inc. (the “Parent Guarantor”), the subsidiaries of the Borrower, the Lender Parties, the Administrative Agent, the Syndication Agent and the Co-Documentation Agents have
entered into a Credit Agreement, dated as of November 3, 2004 (the “Credit Agreement”). Capitalized terms not otherwise defined in this Amendment have the same meanings as specified in the Credit Agreement. 
  
 (2) The Borrower and the Required Lenders have agreed to amend the Credit
Agreement as hereinafter set forth. 
  
 SECTION 1. Amendments
to Credit Agreement. The Credit Agreement is, upon the occurrence of the Amendment Effective Date (as defined in Section 2), hereby amended as follows: 
  
 (a) Section 1.01 of the Credit Agreement is hereby amended to add the following new definitions in their appropriate alphabetical order:

  
 “Amendment No. 1 Effective
Date” means the date on which all of the conditions to effectiveness of Amendment No. 1 to the Credit Agreement, dated as of May 11, 2005, have been satisfied. 
  
 “Assuming Lender” has the meaning specified in Section 2.18(d). 
  
 “Assumption Agreement” has the
meaning specified in Section 2.18(d)(i). 
  
 “Canadian Dollars” and “CN$” each means lawful currency of Canada. 
  
 “Commitment Date” has the meaning specified in Section 2.18(b). 
  
 “Commitment Increase” has the
meaning specified in Section 2.18(a). 
  
 “Committed Foreign Currencies” means Canadian Dollars, Sterling and Euros. 
  

 “Dollars” and the “$” sign each means
lawful currency of the United States of America. 
  
 “EMU Legislation” means legislative measures of the European Union for the introduction of, changeover to or operation of the Euro in one or more member states. 
  
 “Equivalent” in Dollars of any
Committed Foreign Currency on any date means the equivalent in Dollars of such Committed Foreign Currency determined by using the quoted spot rate at which the Sub-Agent’s principal office in London offers to exchange Dollars for such Committed
Foreign Currency in London prior to 4:00 P.M. (London time) (unless otherwise indicated by the terms of this Agreement) on such date as is required pursuant to the terms of this Agreement, and the “Equivalent” in any Committed
Foreign Currency of Dollars means the equivalent in such Committed Foreign Currency of Dollars determined by using the quoted spot rate at which the Sub-Agent’s principal office in London offers to exchange such Committed Foreign Currency for
Dollars in London prior to 4:00 P.M. (London time) (unless otherwise indicated by the terms of this Agreement) on such date as is required pursuant to the terms of this Agreement. 
  
 “EURIBO Rate” means, for any Interest Period, the rate appearing on Moneyline
Telerate Markets Page 248 (or on any successor or substitute page of such service, or any successor to or substitute for such service, in each case providing rate quotations comparable to those currently provided on such page of such service, as
determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to deposits in Euro by reference to the Banking Federation of the European Union Settlement Rates for deposits in Euro) at
11:00 a.m., London time, two Business Days before the commencement of such Interest Period, as the rate for deposits in Euro with a maturity comparable to such Interest Period or, if for any reason such rate is not available, the average (rounded
upward, if necessary, to the nearest whole multiple of 1/100 of 1% per annum, if such average is not such a multiple) of the respective rates per annum at which deposits in Euro are offered by the principal office of each of the Reference Banks in
London, England to prime banks in the London interbank market at 11:00 A.M. (London time) two Business Days before the first day of such Interest Period in an amount substantially equal to such Reference Bank’s Eurocurrency Rate Advance
comprising part of such Borrowing in Euros to be outstanding during such Interest Period and for a period equal to such Interest Period (subject, however, to the provisions of Section 2.07). 
  
 “Euro” and
“€” each means the lawful currency of the European Union as constituted by the Treaty of Rome which established the European Community, as such treaty may be amended from time to time and as referred to in the EMU
Legislation. 
  
 “Eurocurrency Lending
Office” means, with respect to any Lender Party, the office of such Lender Party specified as its “Eurocurrency Lending Office” opposite its name on Schedule I hereto or in the Assignment and Acceptance or Assumption Agreement
pursuant to which it became a Lender Party (or, if no such office is specified, its Domestic Lending Office), or such other office of such Lender Party as such Lender Party may from time to time specify to the Borrower and the Administrative Agent.

  
 “Eurocurrency Rate”
means, for any Interest Period for all Eurocurrency Rate Advances comprising part of the same Borrowing, an interest rate per annum equal to the rate per annum obtained by dividing (a)(i) in the case of any Revolving Credit Advance denominated in
Dollars or any Committed Foreign Currency other than Euro, the rate per annum (rounded upward, if necessary, to the nearest whole multiple of 1/100 of 1% per annum) appearing on Moneyline Telerate Markets Page 3750 (or any successor page) as the
London interbank offered rate for 

  

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deposits in Dollars or the applicable Committed Foreign Currency at 11:00 A.M. (London time) two Business Days before the first day of such Interest Period
for a period equal to such Interest Period or, if for any reason such rate is not available, and subject to the provisions of Section 2.07, the average (rounded upward, if necessary, to the nearest whole multiple of 1/100 of 1% per annum, if such
average is not such a multiple) of the rate per annum at which deposits in Dollars or the applicable Committed Foreign Currency is offered by the principal office of each of the Reference Banks in London, England to prime banks in the London
interbank market at 11:00 A.M. (London time) two Business Days before the first day of such Interest Period in an amount substantially equal to such Reference Bank’s Eurocurrency Rate Advance comprising part of such Borrowing to be outstanding
during such Interest Period (or, if such Reference Bank shall not have such a Eurocurrency Rate Advance, U.S. $1,000,000) and for a period equal to such Interest Period or (ii) in the case of any Revolving Credit Advance denominated in Euro, the
EURIBO Rate by (b) a percentage equal to 100% minus the Eurocurrency Rate Reserve Percentage for such Interest Period. 
  
 “Eurocurrency Rate Advance” means an Advance denominated in Dollars or a Committed Foreign Currency that bears
interest as provided in Section 2.07(a)(ii). 
  
 “Eurocurrency Rate Reserve Percentage” means, for any Interest Period for all Eurocurrency Rate Advances comprising part of the same Borrowing, the reserve percentage applicable two Business Days before the first day
of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental
or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities
that includes deposits by reference to which the interest rate on Eurocurrency Rate Advances is determined) having a term equal to such Interest Period. 
  
 “Increase Date” has the meaning specified in Section 2.18(a). 
  
 “Increased Commitment Amount” has
the meaning specified in Section 2.18(b). 
  
 “Increasing Lender” has the meaning specified in Section 2.18(b). 
  
 “Other Lender” has the meaning specified in Section 2.18(e). 
  
 “Philadelphia Property” means the
property known as “Digital 833 Chestnut Street” located at 833 Chestnut Street (aka 819-841 Chestnut St.), Philadelphia, Pennsylvania 19107. 
  
 “Primary Currency” has the meaning specified in Section 9.14(c). 
  
 “Revolving Credit Borrowing Minimum”
means, in respect of Revolving Credit Advances denominated in Dollars, $5,000,000, in respect of Revolving Credit Advances denominated in Canadian Dollars, CN$5,000,000, in respect of Revolving Credit Advances denominated in Sterling,
£5,000,000 and, in respect of Revolving Credit Advances denominated in Euros, €5,000,000. 
  
 “Revolving Credit Borrowing Multiple” means, in respect of Revolving Credit Advances denominated in Dollars,
$500,000, in respect of Revolving Credit Advances denominated in Canadian Dollars, CN$500,000, in respect of Revolving Credit Advances denominated in 

  

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Sterling, £500,000 and, in respect of Revolving Credit Advances denominated in Euros, €500,000. 
  
 “Revolving Credit Reduction Minimum”
means, in respect of Revolving Credit Advances denominated in Dollars, $1,000,000, in respect of Revolving Credit Advances denominated in Canadian Dollars, CN$1,000,000, in respect of Revolving Credit Advances denominated in Sterling,
£1,000,000 and, in respect of Revolving Credit Advances denominated in Euros, €1,000,000. 
  
 “Revolving Credit Reduction Multiple” means, in respect of Revolving Credit Advances denominated in Dollars,
$250,000, in respect of Revolving Credit Advances denominated in Canadian Dollars, CN$250,000, in respect of Revolving Credit Advances denominated in Sterling, £250,000 and, in respect of Revolving Credit Advances denominated in Euros,
€250,000. 
  
 “Sub-Agent” means Citibank International plc. 
  
 “Sterling” and “£” each means lawful currency of the United Kingdom of Great Britain
and Northern Ireland. 
  
 (b) Section 1.01 of the
Credit Agreement is hereby amended to restate the following definitions set forth therein in their entirety to read as follows: 
  
 “Administrative Agent’s Account” means (a) in the case of Advances denominated in Dollars, the account of the
Administrative Agent maintained by the Administrative Agent with Citibank, N.A., at its office at 2 Penns Way, Suite 200, New Castle, Delaware 19720, ABA No. 021000089, Account No. 36852248, Account Name: Agency/Medium Term Finance, Reference:
Digital Realty, Attention: Global Loans/Agency, (b) in the case of Advances denominated in any Committed Foreign Currency, the account of the Sub-Agent designated in writing from time to time by the Administrative Agent to the Borrower and the
Lender Parties for such purpose and (c) in any such case, such other account as the Administrative Agent shall specify in writing to the Lender Parties. 
  
 “Base Rate Advance” means an Advance denominated in Dollars that bears interest as provided in Section 2.07(a)(i).

  
 “Business Day” means
a day of the year on which banks are not required or authorized by law to close in New York City and, if the applicable Business Day relates to any Eurocurrency Rate Advances, on which dealings are carried on in the London interbank market and banks
are open for business in London and in the country of issue of the currency of such Eurocurrency Rate Advance (or, in the case of an Advance denominated in Euro, on which the Trans-European Automated Real-Time Gross Settlement Express Transfer
(TARGET) System is open). 
  
 “Lenders” means the Initial Lenders, each Assuming Lender that shall become a party hereto pursuant to Section 2.18 and each Person that shall become a Lender hereunder pursuant to Section 9.07 for so long as such
Initial Lender or Person, as the case may be, shall be a party to this Agreement. 
  
 “Revolving Credit Commitment” means, (a) with respect to any Lender at any time, the amount set forth opposite
such Lender’s name on Schedule I hereto under the caption “Revolving Credit Commitment” or (b) if such Lender has entered into one or more Assignment and 

  

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Acceptances or Assumption Agreements, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such
Lender’s “Revolving Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05 or increased pursuant to Section 2.18. 
  
 (c) The definitions of “Eurodollar Lending Office”, “Eurodollar
Rate”, “Eurodollar Rate Advance” and “Eurodollar Rate Reserve Percentage” set forth in Section 1.01 of the Credit Agreement are hereby deleted in their entirety. 
  
 (d) The definition of “Borrower’s
Account” in Section 1.01 of the Credit Agreement is hereby amended by deleting the words “or such other account” in the fourth line thereof and substituting therefor the words “and/or such other account”. 

 
 (e) The definition of “Domestic Lending
Office” in Section 1.01 of the Credit Agreement is hereby amended by adding after the words “Assignment and Acceptance” in the third line thereof the words “or Assumption Agreement”. 
  
 (f) The definition of “Required
Lenders” in Section 1.01 of the Credit Agreement is hereby amended by adding after the words “aggregate principal amount” in the second line thereof a new parenthetical to read “(based on the Equivalent in Dollars at such
time)”. 
  
 (g) The definition of
“Unused Revolving Credit Commitment” in Section 1.01 of the Credit Agreement is hereby amended by adding after the words “aggregate principal amount” in the third line thereof a new parenthetical to read
“(denominated in Dollars (or the Equivalent thereof))”. 
  
 (h) Section 2.01(a) of the Credit Agreement is hereby amended in full to read as follows: 
  
 “(a) The Revolving Credit Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make
advances (each a “Revolving Credit Advance”) to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date (i) in an amount for each such Revolving Credit Advance not
to exceed such Lender’s Unused Revolving Credit Commitment at such time, and (ii) for all such Revolving Credit Advances denominated in a Committed Foreign Currency, in an aggregate amount at any time outstanding not to exceed the Equivalent of
$100,000,000 in such Committed Foreign Currencies. Each Borrowing shall be in an aggregate amount not less than the Revolving Credit Borrowing Minimum or a Revolving Credit Borrowing Multiple in excess thereof and shall consist of Revolving Credit
Advances of the same Type and in the same currency made simultaneously by the Lenders ratably according to their Revolving Credit Commitments. Within the limits of each Lender’s Unused Revolving Credit Commitment in effect from time to time and
prior to the Termination Date, the Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(a).” 
  
 (i) Section 2.01(b) of the Credit Agreement is hereby amended by adding after the words “letters of
credit” in the first sentence thereof the words “denominated in Dollars”. 
  
 (j) Section 2.01(c) of the Credit Agreement is hereby amended by adding after the words “Swing Line Advances” in the first
sentence thereof the words “denominated in Dollars”. 
  

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 (k) Section 2.02(a) of the Credit Agreement is hereby amended in full to read as follows:

  
 “(a) Except as otherwise provided in
Section 2.03, each Borrowing shall be made on notice, given not later than (x) 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Borrowing in the case of a Borrowing consisting of Eurocurrency Rate Advances
denominated in Dollars, (y) 1:00 P.M. (London time) on the third Business Day prior to the date of the proposed Borrowing in the case of a Revolving Credit Borrowing consisting of Eurocurrency Rate Advances denominated in any Committed Foreign
Currency, or (z) 12:00 P.M. (New York City time) on the date of the proposed Borrowing in the case of a Borrowing consisting of Base Rate Advances, by the Borrower to the Administrative Agent (and, in the case of a Borrowing consisting of
Eurocurrency Rate Advances denominated in any Committed Foreign Currency, simultaneously to the Sub-Agent), which shall give to each Lender prompt notice thereof by telex or telecopier. Each such notice of a Borrowing (a “Notice of
Borrowing”) shall be by telephone, confirmed immediately in writing, or telex or telecopier or e-mail, in each case in substantially the form of Exhibit B hereto, specifying therein the requested (i) date of such Borrowing, (ii) Type of
Advances comprising such Borrowing, (iii) aggregate amount of such Borrowing and (iv) in the case of a Borrowing consisting of Eurocurrency Rate Advances, initial Interest Period and currency for each such Advance. Each Lender shall, before 1:00
P.M. (New York City time) on the date of such Borrowing in the case of a Borrowing consisting of Advances denominated in Dollars, and before 1:00 P.M. (London time) on the date of such Borrowing in the case of a Borrowing consisting of Eurocurrency
Advances denominated in any Committed Foreign Currency, make available for the account of its Applicable Lending Office to the Administrative Agent at the applicable Administrative Agent’s Account, in same day funds, such Lender’s ratable
portion of such Borrowing in accordance with the respective Commitments of such Lender and the other Lenders. After the Administrative Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the
Administrative Agent will make such funds available to the Borrower by crediting the Borrower’s Account; provided, however, that the Administrative Agent shall first make a portion of such funds equal to the aggregate principal amount of
any Swing Line Advances and Letter of Credit Advances made by the Swing Line Bank or any Issuing Bank, as the case may be, and by any other Lender and outstanding on the date of such Borrowing, plus interest accrued and unpaid thereon to and as of
such date, available to the Swing Line Bank or such Issuing Bank, as the case may be, and such other Lenders for repayment of such Swing Line Advances and Letter of Credit Advances.” 
  
 (l) Section 2.02(c) of the Credit Agreement is hereby
amended in full to read as follows: 
  
 “(c)
Anything in subsection (a) above to the contrary notwithstanding, (i) the Borrower may not select Eurocurrency Rate Advances for the initial Borrowing hereunder or for any Borrowing if the aggregate amount of such Borrowing is less than the
Revolving Credit Borrowing Minimum or if the obligation of the Lenders to make Eurocurrency Rate Advances shall then be suspended pursuant to Section 2.07(d)(ii), 2.09 or 2.10 and (ii) there may not be more than seven (7) separate Borrowings
outstanding at any time.” 
  

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 (m) Section 2.02(e) of the Credit Agreement is hereby amended in full to read as follows:

  
 “(e) Unless the Administrative Agent
shall have received notice from a Lender prior to (x) the date of any Borrowing consisting of Eurocurrency Rate Advances or (y) 12:00 Noon (New York City time) on the date of any Borrowing consisting of Base Rate Advances that such Lender will not
make available to the Administrative Agent such Lender’s ratable portion of such Borrowing, the Administrative Agent may assume that such Lender has made such portion available to the Administrative Agent on the date of such Borrowing in
accordance with subsection (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Lender shall not have so made
such ratable portion available to the Administrative Agent, such Lender and the Borrower severally agree to repay or pay to the Administrative Agent forthwith on demand such corresponding amount and to pay interest thereon, for each day from the
date such amount is made available to the Borrower until the date such amount is repaid or paid to the Administrative Agent, at (i) in the case of the Borrower, the higher of (A) the interest rate applicable at such time under Section 2.07 to
Advances comprising such Borrowing and (B) the cost of funds incurred by the Administrative Agent in respect of such amount in the case of Advances denominated in Committed Foreign Currencies and (ii) in the case of such Lender, (A) the Federal
Funds Rate in the case of Advances denominated in Dollars or (B) the cost of funds incurred by the Administrative Agent in respect of such amount in the case of Advances denominated in Committed Foreign Currencies. If such Lender shall pay to the
Administrative Agent such corresponding amount, such amount so paid shall constitute such Lender’s Advance as part of such Borrowing for all purposes.” 
  
 (n) Section 2.05(a) of the Credit Agreement is hereby amended in full to read as follows: 
  
 “(a) Optional. The Borrower may, upon at least
three Business Days’ notice to the Administrative Agent, terminate in whole or reduce in part the unused portions of the Swing Line Facility, the Letter of Credit Facility and the Unused Revolving Credit Commitments; provided, however,
that each partial reduction of a Facility (i) shall be in an aggregate amount of the Revolving Credit Reduction Minimum (or in the case of the Swing Line Facility, $250,000) or a Revolving Credit Reduction Multiple in excess thereof and (ii) shall
be made ratably among the Lenders in accordance with their Commitments with respect to such Facility.” 
  
 (o) Section 2.06(a) of the Credit Agreement is hereby amended in full to read as follows: 
  
 “(a) Optional. The Borrower may, upon same day
notice in the case of Base Rate Advances and two Business Days’ notice in the case of Eurocurrency Rate Advances, in each case to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and if such
notice is given the Borrower shall, prepay the outstanding aggregate principal amount of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the aggregate
principal amount prepaid; provided, however, that (i) each partial prepayment shall be in an aggregate principal amount not less than the Revolving Credit Reduction Minimum or a Revolving Credit Reduction Multiple in excess thereof or, if
less, the amount of the Advances outstanding and (ii) if any 

  

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prepayment of a Eurocurrency Rate Advance is made on a date other than the last day of an Interest Period for such Advance, the Borrower shall also pay any
amounts owing pursuant to Section 9.04(c).” 
  
 (p) Section 2.06(b)(i) of the Credit Agreement is hereby amended by (i) adding after the words “in an amount” in the fourth line thereof the words “in Dollars” and (ii) adding after the words “aggregate principal
amount” in clause (A) thereof the words “in Dollars (including, if applicable, the Equivalent in Dollars of any such Advances that are not Dollar denominated)”. 
  
 (q) Section 2.07(d)(ii) of the Credit Agreement is hereby amended in full to read as follows: 
  
 “(ii) If Moneyline Telerate Markets Page 3750 (or, with
respect to Eurocurrency Rate Advances denominated in Euros, Moneyline Telerate Markets Page 248) is unavailable and fewer than two Reference Banks are able to furnish timely information to the Administrative Agent for determining the Eurocurrency
Rate for any Eurocurrency Rate Advances, 
  
 (A)
the Administrative Agent shall forthwith notify the Borrower and the Lenders that the interest rate cannot be determined for such Eurocurrency Rate Advances, 
  

(B) each such Advance will automatically, on the last day of the then existing Interest Period therefor, (i) if such Advance is a
Eurocurrency Rate Advance that is denominated in Dollars, Convert into Base Rate Advances and (ii) if such Advance is a Eurocurrency Rate Advance that is denominated in a Committed Foreign Currency, be exchanged for an Equivalent amount of Dollars
and Convert into a Base Rate Advance (or if such Advance is then a Base Rate Advance, will continue as a Base Rate Advance), and 
  
 (C) the obligation of the Lenders to make, or to Convert Advances into, Eurocurrency Rate Advances shall be suspended until the
Administrative Agent shall notify the Borrower and the Lenders that the circumstances causing such suspension no longer exist with respect to such Eurocurrency Rate Advances.” 
  
 (r) Section 2.08(a) of the Credit Agreement is hereby amended by adding after the words “Assignment and
Acceptance” in the first sentence thereof the words “or the Assumption Agreement, as the case may be,”. 
  
 (s) Section 2.09(a) of the Credit Agreement is hereby amended by (i) adding after the words “portion of the Advances” in the
fourth line thereof the words “denominated in Dollars”, (ii) adding after the words “Borrowing into Advances” in the fifth line thereof the words “denominated in Dollars” and (iii) adding after the words “(i) the
date of such Conversion, (ii) the” in the twelfth line thereof the words “Dollar denominated”. 
  
 (t) Section 2.09(b) of the Credit Agreement is hereby amended by (i) adding after the words “comprising any Borrowing” in
paragraph (i) thereof a new parenthetical to read “(including, if applicable, the Equivalent in Dollars of any such Advances that are not Dollar denominated)”, (ii) adding after the words “existing Interest Period therefor” in
paragraph (ii) thereof “(i) if such Eurocurrency Rate Advance is denominated in Dollars, Convert into a Base 

  

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Rate Advance and (ii) if such Eurocurrency Rate Advance is denominated in a Committed Foreign Currency, be exchanged for an Equivalent amount of
Dollars” and (iii) deleting “Convert” after the words “existing Interest Period therefor,” in paragraph (iii) thereof and substituting therefor “(1) if such Eurocurrency Rate Advance is denominated in Dollars, be
Converted into a Base Rate Advance and (2) if such Eurocurrency Rate Advance is denominated in any Committed Foreign Currency, be exchanged for an Equivalent amount of Dollars and be Converted”. 
  
 (u) Section 2.10(a) of the Credit Agreement is hereby
amended by adding after the words “central bank or other governmental authority” in clause (i) thereof the words “, including, without limitation, any agency of the European Union or similar monetary or multinational authority”.

  
 (v) Section 2.10(c) of the Credit Agreement
is hereby amended by adding after “existing Interest Period therefor” in clause (i) thereof the words “(x) if such Eurocurrency Advance is denominated in Dollars, Convert into a Base Rate Advance, and (y) if such Eurocurrency Advance
is denominated in any Committed Foreign Currency, be exchanged for an equivalent amount of Dollars and”. 
  
 (w) Section 2.10(d) of the Credit Agreement is hereby amended in full to read as follows: 
  
 “(d) Notwithstanding any other provision of this
Agreement, if the introduction of or any change in or in the interpretation of any law or regulation shall make it unlawful, or any central bank or other governmental authority shall assert that it is unlawful, for any Lender or its Eurocurrency
Lending Office to perform its obligations hereunder to make Eurocurrency Rate Advances in Dollars or any Committed Foreign Currency or to fund or continue to fund or maintain Eurocurrency Rate Advances in Dollars or any Committed Foreign Currency
hereunder, then, on notice thereof and demand therefor by such Lender to the Borrower through the Administrative Agent, (i) each Eurocurrency Rate Advance will automatically, upon such demand, (x) if such Eurocurrency Advance is denominated in
Dollars, Convert into a Base Rate Advance, and (y) if such Eurocurrency Advance is denominated in any Committed Foreign Currency, be exchanged for an equivalent amount of Dollars and Convert into a Base Rate Advance and (ii) the obligation of the
Lenders to make, or to Convert Advances into, Eurocurrency Rate Advances shall be suspended until the Administrative Agent shall notify the Borrower that such Lender has determined that the circumstances causing such suspension no longer exist;
provided, however, that, before making any such demand, such Lender agrees to use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to designate a different Eurocurrency Lending Office if the
making of such a designation would allow such Lender or its Eurocurrency Lending Office to continue to perform its obligations to make Eurocurrency Rate Advances or to continue to fund or maintain Eurocurrency Rate Advances and would not, in the
judgment of such Lender, be otherwise disadvantageous to such Lender.” 
  

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 (x) Section 2.11(a) of the Credit Agreement is hereby amended in full to read as follows:

  
 “(a) The Borrower shall make each
payment hereunder (except with respect to principal of, interest on, and other amounts relating to, Advances denominated in a Committed Foreign Currency), irrespective of any right of counterclaim or set-off (except as otherwise provided in Section
2.13), not later than 2:00 P.M. (New York City time) on the day when due in Dollars to the Administrative Agent at the applicable Administrative Agent’s Account in same day funds, with payments being received by the Administrative Agent after
such time being deemed to have been received on the next succeeding Business Day. The Borrower shall make each payment hereunder with respect to principal of, interest on, and other amounts relating to, Advances denominated in a Committed Foreign
Currency, irrespective of any right of counterclaim or set-off (except as otherwise provided in Section 2.13), not later than 11:00 A.M. (local time) on the day when due in such Committed Foreign Currency to the Administrative Agent at the
applicable Administrative Agent’s Account in same day funds, with payments being received by the Administrative Agent after such time being deemed to have been received on the next succeeding Business Day. The Administrative Agent will promptly
thereafter cause like funds to be distributed (i) if such payment by the Borrower is in respect of principal, interest, commitment fees or any other Obligation then payable hereunder and under the Notes to more than one Lender Party, to such Lender
Parties for the account of their respective Applicable Lending Offices ratably in accordance with the amounts of such respective Obligations then payable to such Lender Parties and (ii) if such payment by the Borrower is in respect of any Obligation
then payable hereunder to one Lender Party, to such Lender Party for the account of its Applicable Lending Office, in each case to be applied in accordance with the terms of this Agreement. Upon any Assuming Lender becoming a Lender hereunder as a
result of a Commitment Increase pursuant to Section 2.18 and upon the Administrative Agent’s receipt of such Lender’s Assumption Agreement and recording of the information contained therein in the Register, from and after the applicable
Increase Date, the Administrative Agent shall make all payments hereunder and under any Notes issued in connection therewith in respect of the interest assumed thereby to such Assuming Lender. Upon its acceptance of an Assignment and Acceptance and
recording of the information contained therein in the Register pursuant to Section 9.07(d), from and after the effective date of such Assignment and Acceptance, the Administrative Agent shall make all payments hereunder and under the Notes in
respect of the interest assigned thereby to the Lender Party assignee thereunder, and the parties to such Assignment and Acceptance shall make all appropriate adjustments in such payments for periods prior to such effective date directly between
themselves.” 
  
 (y) Section 2.11(e) of the
Credit Agreement is hereby amended by deleting “at the Federal Funds Rate” at the end of the second sentence and substituting therefor “(i) at the Federal Funds Rate in the case of Advances denominated in Dollars or (ii) the cost of
funds incurred by the Administrative Agent in respect of such amount in the case of Advances denominated in any Committed Foreign Currency”. 
  
 (z) Section 2.11 of the Credit Agreement is hereby further amended by (i) adding the following new subsection (f) thereto: 
  
 “(f) To the extent that the Administrative Agent
receives funds for application to the amounts owing by the Borrower under or in respect of this Agreement or any Note in currencies other than the currency or currencies required to enable the Administrative Agent to distribute funds to the Lenders
in accordance with the terms of this Section 2.11, the Administrative Agent shall be entitled to convert or exchange such 

  

 10 

 
funds into Dollars or into a Committed Foreign Currency or from Dollars to a Committed Foreign Currency or from a Committed Foreign Currency to Dollars, as
the case may be, to the extent necessary to enable the Administrative Agent to distribute such funds in accordance with the terms of this Section 2.11, provided that the Borrower and each of the Lenders hereby agree that the Administrative
Agent shall not be liable or responsible for any loss, cost or expense suffered by the Borrower or such Lender as a result of any conversion or exchange of currencies effected pursuant to this Section 2.11(f) or as a result of the failure of the
Administrative Agent to effect any such conversion or exchange; and provided further that the Borrower agrees to indemnify the Administrative Agent and each Lender, and hold the Administrative Agent and each Lender harmless, for any and all
losses, costs and expenses incurred by the Administrative Agent or any Lender for any conversion or exchange of currencies (or the failure to convert or exchange any currencies) in accordance with this Section 2.11(f).” ; and 
  
 (ii) re-lettering the existing clause (f) thereof as clause
(g). 
  
 (aa) Section 2.12(e) of the Credit
Agreement is hereby amended by (i) adding after the words “each Initial Lender Party, and on the date of” in the first sentence thereof the words “the Assumption Agreement or” and (ii) adding after the words “provided,
however, that if, at the effective date of the” in the second sentence thereof the words “Assumption Agreement or the”. 
  
 (bb) Section 2.15(b) of the Credit Agreement is hereby amended by adding after the words “Assignment and Acceptance” in clause
(ii) thereof the words “and Assumption Agreement”. 
  
 (cc) Article II of the Credit Agreement is hereby amended by adding the following new Section 2.18 thereto: 
  
 “SECTION 2.18. Increase in the Aggregate Commitments. (a) The Borrower may, at any time by written notice to the
Administrative Agent, request an increase in the aggregate amount of the Revolving Credit Commitments by not less than $5,000,000 (each such proposed increase, a “Commitment Increase”) to be effective as of a date that is at
least 90 days prior to the scheduled Termination Date then in effect (the “Increase Date”) as specified in the related notice to the Administrative Agent; provided, however, that (i) in no event shall the aggregate
amount of the Commitments at any time exceed $350,000,000 and (ii) on the date of any request by the Borrower for a Commitment Increase and on the related Increase Date, the conditions set forth in Sections 3.01(a)(i) and 3.02 shall be satisfied.

  
 (b) The Administrative Agent shall promptly
notify the Lenders of each request by the Borrower for a Commitment Increase, which notice shall include (i) the proposed amount of such requested Commitment Increase, (ii) the proposed Increase Date and (iii) the date by which Lenders wishing to
participate in the Commitment Increase must commit to an increase in the amount of their respective Commitments (the “Commitment Date”). Each Lender that is willing to participate in such requested Commitment Increase (each,
an “Increasing Lender”) shall, in its sole discretion, give written notice to the Administrative Agent on or prior to the Commitment Date of the amount by which it is willing to increase its Commitment (an
“Increased Commitment Amount”). If the Lenders notify the Administrative Agent that they are willing to increase the amount of their respective Commitments by an aggregate amount that exceeds the amount of the requested
Commitment Increase, the requested Commitment 

  

 11 

 
Increase shall be allocated to each Lender willing to participate therein in an amount equal to the Commitment Increase multiplied by the ratio of each
Lender’s Increased Commitment Amount to the aggregate amount of all Increased Commitment Amounts. 
  
 (c) Promptly following each Commitment Date, the Administrative Agent shall notify the Borrower as to the amount, if any, by which the
Lenders are willing to participate in the requested Commitment Increase. If the aggregate amount by which the Lenders are willing to participate in any requested Commitment Increase on any such Commitment Date is less than the requested Commitment
Increase, then the Borrower may extend offers to one or more Eligible Assignees to participate in any portion of the requested Commitment Increase that has not been committed to by the Lenders as of the applicable Commitment Date; provided,
however, that the Commitment of each such Eligible Assignee shall be in an amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, or, if less than $5,000,000, the amount of the requested Commitment Increase that has not
been committed to by the Lenders as of the applicable Commitment Date. 
  
 (d) On each Increase Date, each Eligible Assignee that accepts an offer to participate in a requested Commitment Increase in accordance with Section 2.18(c) (an “Assuming Lender”) shall become
a Lender party to this Agreement as of such Increase Date and the Commitment of each Increasing Lender for such requested Commitment Increase shall be so increased by such amount (or by the amount allocated to such Lender pursuant to the last
sentence of Section 2.18(b)) as of such Increase Date; provided, however, that the Administrative Agent shall have received on or before such Increase Date the following, each dated such date: 
  
 (i) an assumption agreement from each Assuming Lender, if
any, in form and substance satisfactory to the Borrower and the Administrative Agent (each, an “Assumption Agreement”), duly executed by such Assuming Lender, the Administrative Agent and the Borrower; and 
  
 (ii) confirmation from each Increasing Lender of the
increase in the amount of its Commitment in a writing satisfactory to the Borrower and the Administrative Agent. 
  
 On each Increase Date, upon fulfillment of the conditions set forth in the immediately preceding sentence of this Section 2.18(d), the Administrative
Agent shall notify the Lenders (including, without limitation, each Assuming Lender) and the Borrower, on or before 1:00 P.M. (New York City time), by telecopier or telex, of the occurrence of the Commitment Increase to be effected on such Increase
Date and shall record in the Register the relevant information with respect to each Increasing Lender and each Assuming Lender on such date. 
  
 (e) On the Increase Date, each Assuming Lender and each Increasing Lender, without executing an Assignment and Acceptance, shall be
deemed to have purchased an assignment from each Lender that is not an Assuming Lender or an Increasing Lender (an “Other Lender”) of a portion of the Advances then outstanding and owed to such Other Lender under this
Agreement in an amount equal to (i) with respect to each Assuming Lender, such Assuming Lender’s Pro Rata Share (calculated immediately following the effectiveness of the increase in the Revolving Credit Facility on the Increase Date) of all
Advances owed to such Other Lender immediately prior to 

  

 12 

 
the effectiveness of the increase in the Revolving Credit Facility on the Increase Date, and (ii) with respect to each Increasing Lender, the product of (A)
the ratio, expressed as a percentage, obtained by dividing (1) the amount by which such Increasing Lender’s Commitment is increasing on the Increase Date by (2) the amount of the Revolving Credit Facility immediately following the increase
thereof effected on the Increase Date, multiplied by, (B) all Advances owed to such Other Lender immediately prior to the effectiveness of the increase in the Revolving Credit Facility on the Increase Date. The Administrative Agent shall
calculate the net amount to be paid by each Assuming Lender and Increasing Lender and received by each Other Lender in connection with the assignments effected hereunder on the Increase Date. Each Assuming Lender and Increasing Lender shall make the
amount of its required payment available to the Administrative Agent, in same day funds, at the office of the Administrative Agent not later than 12:00 P.M. (New York time) on the Increase Date. The Administrative Agent shall distribute on the
Increase Date the proceeds of such amount to each of the Other Lenders entitled to receive such payments at its Applicable Lending Office.” 
  
 (dd) Section 3.02 of the Credit Agreement is hereby amended in full to read as follows: 
  
 “SECTION 3.02. Conditions Precedent to Each
Borrowing, Issuance, Renewal, Commitment Increase and Extension. The obligation of each Lender to make an Advance (other than a Letter of Credit Advance made by an Issuing Bank or a Lender pursuant to Section 2.03(c) and a Swing Line Advance
made by a Lender pursuant to Section 2.02(b)) on the occasion of each Borrowing (including the initial Borrowing), the obligation of each Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit, the
extension of Commitments pursuant to Section 2.16, a Commitment Increase pursuant to Section 2.18 and the right of the Borrower to request a Swing Line Borrowing shall be subject to the further conditions precedent that on the date of such
Borrowing, issuance, renewal, extension or increase the following statements shall be true and the Administrative Agent shall have received for the account of such Lender, the Swing Line Bank or such Issuing Bank (x) an Unencumbered Assets
Certificate dated the date of such Borrowing, issuance, renewal, extension or increase and (y) a certificate signed by a duly authorized officer of the Borrower, dated the date of such Borrowing, issuance, renewal, extension or increase, stating
that: 
  
 (i) the representations and warranties
contained in each Loan Document are true and correct on and as of such date, before and after giving effect to (A) such Borrowing, issuance, renewal, extension or increase and (B) in the case of any Borrowing, issuance or renewal, the application of
the proceeds therefrom, as though made on and as of such date (except to the extent that such representations and warranties relate solely to an earlier date (in which case such representations and warranties shall have been true and accurate on and
as of such earlier date)); 
  
 (ii) no Default
or Event of Default has occurred and is continuing, or would result from (A) such Borrowing, issuance, renewal, extension or increase or (B) in the case of any Borrowing or issuance or renewal, from the application of the proceeds therefrom; and

  
 (iii) for each Revolving Credit Advance or
Swing Line Advance made by the Swing Line Bank or issuance or renewal of any Letter of Credit, (A) 

  

 13 

 
60% of the Total Unencumbered Asset Value equals or exceeds the Facility Exposure that will be outstanding after giving effect to such Advance, issuance or
renewal, respectively, and (B) before and after giving effect to such Advance, issuance or renewal, the Parent Guarantor shall be in compliance with the covenants contained in Section 5.04, together with supporting information in form satisfactory
to the Administrative Agent showing the computations used in determining compliance with such covenants; 
  
 and (b) the Administrative Agent shall have received such other approvals, opinions or documents as any Lender Party through the Administrative Agent may
reasonably request in order to confirm (i) the accuracy of the Loan Parties’ representations and warranties contained in the Loan Documents, (ii) the Loan Parties’ timely compliance with the terms, covenants and agreements set forth in the
Loan Documents, (iii) the absence of any Default and (iv) the rights and remedies of the Secured Parties or the ability of the Loan Parties to perform their Obligations.” 
  
 (ee) Section 5.01(j)(iii)(A) of the Credit Agreement is hereby amended by adding the following proviso
immediately after the words “either or both of such conditions; and” at the end of the existing proviso thereto: 
  
 “provided further that the survey in respect of the Philadelphia Property delivered to the Administrative Agent prior to the
Amendment No. 1 Effective Date shall be deemed to be satisfactory for purposes of determining compliance with the provisions of clause (4) above with respect to the date of such survey; and” 
  
 (ff) Section 5.03(d) of the Credit Agreement is hereby
amended in full to read as follows: 
  
 “(d) Unencumbered Assets Certificate. As soon as available and in any event within 45 days after the end of each quarter of each Fiscal Year, an Unencumbered Assets Certificate, as at the end of such quarter, certified by the
Chief Financial Officer (or other Responsible Officer performing similar functions) of the Parent Guarantor.” 
  
 (gg) Section 5.03(e) of the Credit Agreement is hereby amended in full to read as follows: 
  
 “(e) Unencumbered Assets Financials. As soon as
available and in any event within 45 days after the end of each quarter of each Fiscal Year, financial information in respect of all Unencumbered Assets, in form and detail satisfactory to the Administrative Agent.” 
  
 (hh) Section 5.04(a)(iv) of the Credit Agreement is hereby
amended by deleting the words “Total Debt” in the second line thereof and substituting therefor the words “Consolidated Debt”. 
  
 (ii) Section 8.02 is amended by (i) adding after the words “Administrative Agent receives and accepts an” in clause (a) thereof
the words “Assumption Agreement entered into by an Assuming Lender as provided in Section 2.18 or an”, (ii) adding after the words “it has received and accepted such” in clause (a) thereof the words “Assumption Agreement
or” and (iii) adding after the words “Assignment and Acceptance” in clause (a) thereof the words “as the case may, in each case”. 
  

 14 

 (jj) Article VIII of the Credit Agreement is hereby amended by adding the following new
Section 8.07 thereto: 
  
 “SECTION 8.07.
Sub-Agent. The Sub-Agent has been designated under this Agreement to carry out duties of the Administrative Agent with respect to Advances denominated in a Committed Foreign Currency. The Sub-Agent shall be subject to each of the obligations
in this Agreement to be performed by the Sub-Agent, and each of the Borrower and the Lender Parties agrees that the Sub-Agent shall be entitled to exercise each of the rights and shall be entitled to each of the benefits of the Administrative Agent
under this Agreement as relate to the performance of its obligations hereunder.” 
  
 (kk) Section 9.02(a) of the Credit Agreement is hereby amended by (i) deleting the name “Jason Holloway” in the eighth line
thereof and substituting therefor the name “Wendy Will” and (ii) deleting the e-mail address “Jason@gipartners.com” in the ninth line thereof and substituting therefor the e-mail address “wwill@digitalrealtytrust.com”.

  
 (ll) Section 9.04(c) is hereby amended by
deleting after the words “Conversion pursuant to” in the third line thereof the words “Section 2.06, 2.09(b)(i) or 2.10(d)” and substituting therefor the words “Section 2.06, 2.09(b)(i), 2.10(d) or 2.18(e)”. 

 
 (mm) Article IX of the Credit Agreement is hereby amended
by (i) adding the following new Section 9.14 thereto: 
  
 “SECTION 9.14. Judgment Currency. (a) If for the purposes of obtaining judgment in any court it is necessary to convert a sum due hereunder in Dollars into another currency, the parties hereto agree, to the fullest extent that
they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase Dollars with such other currency at Citibank N.A.’s principal office in
London at 11:00 A.M. (London time) on the Business Day preceding that on which final judgment is given. 
  
 (b) If for the purposes of obtaining judgment in any court it is necessary to convert a sum due hereunder in a Committed Foreign Currency
into Dollars, the parties agree to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase such Committed Foreign
Currency with Dollars at Citibank N.A.’s principal office in London at 11:00 A.M. (London time) on the Business Day preceding that on which final judgment is given. 
  
 (c) The obligation of the Borrower in respect of any sum due from it in any currency (the
“Primary Currency”) to any Lender or the Administrative Agent hereunder shall, notwithstanding any judgment in any other currency, be discharged only to the extent that on the Business Day following receipt by such Lender or
the Administrative Agent (including by the Administrative Agent on behalf of such Lender, as the case may be), of any sum adjudged to be so due in such other currency, such Lender or the Administrative Agent (as the case may be) may in accordance
with normal banking procedures purchase the applicable Primary Currency with such other currency. If the amount of the applicable Primary Currency so purchased is less than such sum due to such Lender or the Administrative Agent (as the case may be)
in the applicable Primary Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify such Lender or the Administrative Agent (as the case may be) 

  

 15 

 
against such loss, and if the amount of the applicable Primary Currency so purchased exceeds such sum due to any Lender or the Administrative Agent (as the
case may be) in the applicable Primary Currency, such Lender or the Administrative Agent (as the case may be) agrees to promptly remit to the Borrower such excess.” ; 
  
 (ii) adding the following new Section 9.15 thereto: 
  
 “SECTION 9.15. Substitution of Currency. If a
change in any Committed Foreign Currency occurs pursuant to any applicable law, rule or regulation of any governmental, monetary or multi-national authority, this Agreement (including, without limitation, the definition of Eurocurrency Rate) will be
amended to the extent determined by the Administrative Agent (acting reasonably and in consultation with the Borrower) to be necessary to reflect the change in currency and to put the Lender Parties and the Borrower in the same position, so far as
possible, that they would have been in if no change in such Committed Foreign Currency had occurred.” ; and 
  
 (iii) to renumber the existing Section 9.14 as Section 9.16. 
  
 (nn) Each reference in the Credit Agreement, in Schedule I to the Credit Agreement and in Exhibit D
(Assignment and Acceptance) to the Credit Agreement to “Eurodollar Lending Office” shall, on and after the Amendment Effective Date, be deemed to be a reference to “Eurocurrency Lending Office”. 
  
 (oo) Each reference in the Credit Agreement to
“Eurodollar Rate” shall, on and after the Amendment Effective Date, be deemed to be a reference to “Eurocurrency Rate”. 
  
 (pp) Each reference in the Credit Agreement to “Eurodollar Rate Advance” shall, on and after the Amendment Effective Date, be
deemed to be a reference to “Eurocurrency Rate Advance”. 
  
 (qq) Each reference in the Credit Agreement to “Eurodollar Rate Reserve Percentage” shall, on and after the Amendment Effective Date, be deemed to be a reference to “Eurocurrency Rate Reserve
Percentage”. 
  
 (rr) Exhibit B (Notice of
Borrowing) to the Credit Agreement is hereby amended in its entirety in the form attached hereto as Annex A. 
  
 (ss) Exhibit F (Unencumbered Assets Certificate) to the Credit Agreement is hereby amended by deleting the reference in the title thereof
to “Month ending         /        /        ” and substituting therefor the reference “Quarter
ending         /        /        ”. 
  
 SECTION 2. Conditions of Effectiveness. This Amendment shall become effective as of the first date (the
“Amendment Effective Date”) on which, and only if, each of the following conditions precedent shall have been satisfied: 
  
 (a) the Administrative Agent shall have received (i) counterparts of this Amendment executed by the Borrower and the Required Lenders or,
as to any of the Lenders, advice satisfactory to the Administrative Agent that such Lender has executed this Amendment, and (ii) the consent attached hereto (the “Consent”) executed by each of the Guarantors. 
  

 16 

 (b) The representations and warranties set forth in each of the Loan Documents shall be
correct in all material respects on and as of the Amendment Effective Date, before and after giving effect to this Amendment, as though made on and as of such date (except (i) for any such representation and warranty that, by its terms, refers to a
specific date other than the Amendment Effective Date, in which case as of such specific date, (ii) that the Consolidated financial statements of Digital Realty Predecessor referred to in Section 4.01(g) of the Credit Agreement shall be deemed to
refer to the Consolidated financial statements of the Parent Guarantor and its Subsidiaries most recently delivered to the Administrative Agent pursuant to Sections 5.03(b) and 5.03(c), respectively, on or prior to the Amendment Effective Date and
(iii) that the forecasted Consolidated financial statements of the Parent Guarantor and its Subsidiaries referred to in Section 4.01(h) of the Credit Agreement shall be deemed to refer to the forecasted Consolidated financial statements of the
Parent Guarantor and its Subsidiaries most recently delivered to the Administrative Agent prior to the Amendment Effective Date). 
  
 (c) No event shall have occurred and be continuing, or shall result from the effectiveness of this Amendment, that constitutes a Default.

  
 (d) All of the fees and expenses of the
Administrative Agent (including the reasonable fees and expenses of counsel for the Administrative Agent) due and payable on the Amendment Effective Date shall have been paid in full. 
  
 (e) Certified copies of (i) the resolutions of the Board of Directors, general partner or managing member,
as applicable, of (A) the Borrower approving this Amendment and the matters contemplated hereby and thereby and (B) each Guarantor approving the Consent and the matters contemplated hereby and thereby and (ii) all documents evidencing other
necessary corporate action and governmental approvals, if any, with respect to this Amendment, the Consent and the matters contemplated hereby and thereby. 
  
 (f) A certificate of the Secretary or an Assistant Secretary of (i) the Borrower certifying the names and true signatures of the officers
of the Borrower authorized to sign this Amendment and (ii) each Guarantor certifying the names and true signatures of the officers of such Guarantor authorized to sign the Consent. 
  
 The effectiveness of this Amendment is conditioned upon the accuracy of the factual matters described herein. This Amendment
is subject to the provisions of Section 9.01 of the Credit Agreement. 
  
 SECTION 3. Reference to and Effect on the Credit Agreement, the Notes and the Loan Documents. (a) On and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”,
“hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the Notes and each of the other Loan Documents to “the Credit Agreement”, “thereunder”,
“thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended by this Amendment. 
  
 (b) The Credit Agreement, the Notes and each of the other Loan Documents, as specifically amended by this
Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. 
  
 (c) The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any
right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. 
  

 17 

 SECTION 4. Costs and Expenses. The Borrower agrees to pay on demand all costs and expenses of the
Administrative Agent in connection with the preparation, execution, delivery and administration, modification and amendment of this Amendment and the other instruments and documents to be delivered hereunder (including, without limitation, the
reasonable fees and expenses of counsel for the Administrative Agent) in accordance with the terms of Section 9.04 of the Credit Agreement. 
  
 SECTION 5. Execution in Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by facsimile
shall be effective as delivery of a manually executed counterpart of this Amendment. 
  
 SECTION 6. Governing Law. This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York. 
  
 [Balance of page intentionally left blank.] 
  

 18 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective
officers thereunto duly authorized, as of the date first above written. 
  

							
	BORROWER:
	
	 DIGITAL REALTY TRUST, L.P.

		
	 By:
	 	 DIGITAL REALTY TRUST, INC., its sole
 general
partner

			
	 	 	 By
	 	 /s/ A. William Stein

	 	 	 	 	 Name:
	 	 A. William Stein

	 	 	 	 	 Title:
	 	 Chief Financial Officer and Chief Investment Officer

  

 Signature Page 

					
	ADMINISTRATIVE AGENT:
	
	 CITICORP NORTH AMERICA, INC.

		
	 By
	 	 /s/ Blake R. Gronich

	 	 	 Name:
	 	 Blake R. Gronich

	 	 	 Title:
	 	 Vice President

  

 Signature Page 

					
	LENDER PARTIES:
	
	 MERRILL LYNCH CAPITAL CORPORATION

		
	 By
	 	 /s/ John C. Rowland

	 	 	 Name:
	 	 John C. Rowland

	 	 	 Title:
	 	 Vice President

  

 Signature Page 

					
	 BANK OF AMERICA, N.A.

		
	 By
	 	 /s/ Christopher T. Neil

	 	 	 Name:
	 	 Christopher T. Neil

	 	 	 Title:
	 	 Vice President

  

 Signature Page 

					
	 KEYBANK NATIONAL ASSOCIATION

		
	 By
	 	 /s/ John J. Murphy

	 	 	 Name:
	 	 John J. Murphy

	 	 	 Title:
	 	 Vice President

  

 Signature Page 

					
	 ROYAL BANK OF CANADA

		
	 By
	 	 /s/ Gordon MacArthur

	 	 	 Name:
	 	 Gordon MacArthur

	 	 	 Title:
	 	 Authorized Signatory

  

 Signature Page 

					
	 CREDIT SUISSE FIRST BOSTON, ACTING
 THROUGH ITS CAYMAN ISLANDS BRANCH

		
	 By
	 	 /s/ Bill O’Daly

	 Name:
	 	 	 	 Bill O’Daly

	 Title:
	 	 	 	 Director

		
	 By
	 	 /s/ Cassandra Droogan

	 Name:
	 	 	 	 Cassandra Droogan

	 Title:
	 	 	 	 Associate

  

 Signature Page 

  
 CONSENT 
  
 Dated as of May 11, 2005 
  
 Each of the undersigned, as a Guarantor under the Credit Agreement referred
to in the foregoing Amendment, hereby consents to such Amendment and hereby confirms and agrees that notwithstanding the effectiveness of such Amendment, the Guaranty contained in the Credit Agreement is and shall continue to be, in full force and
effect and is hereby ratified and confirmed in all respects, except that, on and after the effectiveness of such Amendment, each reference in the Loan Documents to “Credit Agreement”, “thereunder”, “thereof” or words of
like import shall mean and be a reference to the Credit Agreement, as amended by such Amendment. 
  

					
	GUARANTORS:
	
	 DIGITAL REALTY TRUST, INC.

		
	 By
	 	 /s/ A. William Stein

	 	 	 Name: A. William Stein

	 	 	 Title:    Chief Financial Officer and
Chief Investment Officer

	
	 DIGITAL SERVICES, INC.

		
	 By
	 	 /s/ A. William Stein

	 	 	 Name: A. William Stein

	 	 	 Title: Authorized Signatory

	
	 GLOBAL ASML, LLC

		
	 By:
	 	 DIGITAL REALTY TRUST, L.P.,

	 	 	 its member and manager

			
	 	 	 By:
	 	 DIGITAL REALTY TRUST, INC., its

	 	 	 	 	 sole general partner

		
	 By
	 	 /s/ A. William Stein

	 	 	 Name:  A. William Stein

	 	 	 Title:    Chief Financial Officer and
Chief Investment Officer

  

 Signature Page 

							
	 GLOBAL LAFAYETTE STREET
 HOLDING COMPANY,
LLC

		
	 By:
	 	 DIGITAL REALTY TRUST, L.P.,

	 	 	 its member and manager

			
	 	 	 By:
	 	 DIGITAL REALTY TRUST, INC., its

	 	 	 	 	 sole general partner

		
	 By
	 	 /s/ A. William Stein

	 	 	 Name:  A. William Stein

	 	 	 Title:    Chief Financial Officer and
Chief Investment Officer

	
	 GLOBAL LAFAYETTE STREET, LLC

		
	 By:
	 	GLOBAL LAFAYETTE STREET
	 	 	HOLDING COMPANY, LLC
			
	 	 	 By:
	 	 DIGITAL REALTY TRUST, L.P.,

	 	 	 	 	 its member and manager

				
	 	 	 	 	 By:
	 	DIGITAL REALTY TRUST, INC., its
	 	 	 	 	 	 	 sole general partner

		
	 By
	 	 /s/ A. William Stein

	 	 	 Name:  A. William Stein

	 	 	 Title:    Chief Financial Officer and
Chief Investment Officer

	
	 GIP FAIRMONT HOLDING COMPANY, LLC

		
	 By:
	 	 DIGITAL REALTY TRUST, L.P.,

	 	 	its member and manager
			
	 	 	 By:
	 	 DIGITAL REALTY TRUST, INC., its

	 	 	 	 	 sole general partner

		
	 By
	 	 /s/ A. William Stein

	 	 	 Name:  A. William Stein

	 	 	 Title:    Chief Financial Officer and
Chief Investment Officer

  

 Signature Page 

							
	 GIP FAIRMONT, LLC

		
	 By:
	 	GIP FAIRMONT HOLDING COMPANY, LLC
			
	 	 	 By:
	 	 DIGITAL REALTY TRUST, L.P.,

	 	 	 	 	 its member and manager

				
	 	 	 	 	 By:
	 	DIGITAL REALTY TRUST, INC., its
	 	 	 	 	 	 	 sole general partner

		
	 By
	 	 /s/ A. William Stein

	 	 	 Name:  A. William Stein

	 	 	 Title:    Chief Financial Officer and
Chief Investment Officer

	
	 GLOBAL INNOVATION SUNSHINE
 HOLDINGS
LLC

		
	 By:
	 	DIGITAL REALTY TRUST, L.P.,
	 	 	its member and manager
			
	 	 	 By:
	 	DIGITAL REALTY TRUST, INC., its
	 	 	 	 	 sole general partner

		
	 By
	 	 /s/ A. William Stein

	 	 	 Name:  A. William Stein

	 	 	 Title:    Chief Financial Officer and
Chief Investment Officer

	
	 GLOBAL GOLD CAMP, LLC

		
	 By:
	 	 GLOBAL GOLD CAMP HOLDING
 COMPANY,
LLC,

	 	 	its sole member and manager
			
	 	 	 By:
	 	 DIGITAL REALTY TRUST, L.P.,

	 	 	 	 	 its sole member and manager

				
	 	 	 	 	 By:
	 	DIGITAL REALTY TRUST, INC.,
	 	 	 	 	 	 	 its general partner

		
	 By
	 	 /s/ A. William Stein

	 	 	 Name:  A. William Stein

	 	 	 Title:    Chief Financial Officer and
Chief Investment Officer

  

 Signature Page 

							
	 GLOBAL GOLD CAMP HOLDING
 COMPANY,
LLC

		
	 By:
	 	DIGITAL REALTY TRUST, L.P.,
	 	 	 its sole member and manager

			
	 	 	 By:
	 	DIGITAL REALTY TRUST, INC.,
	 	 	 	 	its general partner
		
	 By
	 	 /s/ A. William Stein

	 	 	 Name:  A. William Stein

	 	 	 Title:    Chief Financial Officer and
Chief Investment Officer

	
	DIGITAL 833 CHESTNUT, LLC
		
	 By:
	 	DIGITAL REALTY TRUST, L.P.,
	 	 	its sole member and manager
			
	 	 	 By:
	 	DIGITAL REALTY TRUST, INC.,
	 	 	 	 	its general partner
		
	 By
	 	 /s/ A. William Stein

	 	 	 Name:  A. William Stein

	 	 	 Title:    Chief Financial Officer and
Chief Investment Officer

  

 Signature Page 

  
 ANNEX A TO AMENDMENT NO. 1

 TO THE CREDIT AGREEMENT 
  
 EXHIBIT B TO THE 
 REVOLVING CREDIT
AGREEMENT 
  
 FORM OF NOTICE 
 OF BORROWING 
  
 NOTICE OF BORROWING 
  
                      ,          
  

	
	 Citicorp North America, Inc.,
as Administrative Agent
under the Credit Agreement
referred to below

	 2 Penns Way, Suite 200
 New Castle, Delaware
19720
 United States of America
 Attention: Anitra Lawrence, Bank
Loan Syndications Department

	
	 [Citibank International plc,
as Sub-Agent
under the Credit Agreement
referred to below

	 4 Harbour Exchange, 2nd Floor
 London E14 9GE
 United Kingdom

Attention:                 ]

  
 Ladies and Gentlemen: 
  
 The undersigned, DIGITAL REALTY TRUST, L.P., refers to the Revolving Credit
Agreement dated as of November 3, 2004 (as amended from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined), among the undersigned, Digital Realty Trust, Inc., as Parent
Guarantor, the Subsidiary Guarantors party thereto, the Lender Parties party thereto and Citicorp North America, Inc., as Administrative Agent for the Lender Parties, and hereby gives you notice, irrevocably, pursuant to Section 2.02 of the Credit
Agreement that the undersigned hereby requests a Borrowing under the Credit Agreement, and in that connection sets forth below the information relating to such Borrowing (the “Proposed Borrowing”) as required by Section
[2.02(a)][2.02(b)] of the Credit Agreement: 
  

	 	(i)	The Business Day of the Proposed Borrowing is _________ __, ____. 

  

	 	(ii)	The Facility under which the Proposed Borrowing is requested is the [Revolving Credit][Swing Line] Facility. 

  

	 	(iii)	The Type of Advances comprising the Proposed Borrowing is [Base Rate Advances] [Eurocurrency Rate Advances]. 

  

	 	(iv)	The aggregate amount of the Proposed Borrowing is [            ]. 

  

	 	(v)	[The initial Interest Period for each Eurocurrency Rate Advance made as part of the Proposed Borrowing is
             month[s].] [The currency for such Borrowing is [Canadian Dollars][Sterling][Euros]. [The maturity of such Borrowing is
            .] 

  
 The undersigned hereby certifies that the following statements are true on the date hereof, and will be true on the date of the Proposed Borrowing:

  

	 	(A)	The representations and warranties contained in each Loan Document are true and correct on and as of the date of the Proposed Borrowing, before and after giving effect to (x) the
Proposed Borrowing and (y) the application of the proceeds therefrom, as though made on and as of such date (except for any such representation and warranty that, by its terms, refers to a specific date, in which case as of such specific date).

  

	 	(B)	No Default has occurred and is continuing, or would result from (x) such Proposed Borrowing or (y) the application of the proceeds therefrom. 

  

	 	(C)	(i) 60% of the Total Unencumbered Asset Value equals or exceeds the aggregate principal amount of the Revolving Credit Advances plus Swing Line Advances plus Letter of
Credit Advances to be outstanding plus the aggregate Available Amount of all Letters of Credit to be outstanding after giving effect to the Proposed Borrowing, (ii) before and after giving effect to the Proposed Borrowing, the Parent
Guarantor shall be in compliance with the covenants contained in Section 5.04 of the Credit Agreement and (iii) all supporting information provided to the Administrative Agent and in the case of Eurocurrency Rate Advances, the Sub-Agent,
contemporaneously with this Notice of Borrowing was prepared in good faith and accurately shows the computations used in determining compliance with the covenants contained in Section 5.04 of the Credit Agreement. 

  
 Delivery of an executed counterpart of this Notice of Borrowing by telecopier
or e-mail (which e-mail shall include an attachment in PDF format or similar format containing the legible signature of the undersigned) shall be effective as delivery of an original executed counterpart of this Notice of Borrowing. 
  
 [Signature Page Follows] 
  

					
	DIGITAL REALTY TRUST, L.P.
		
	By:	 	 Digital Realty Trust, Inc.,
 its Sole General
Partner

			
	 	 	By:	 	 
	 	 	 	 	 Name:

	 	 	 	 	 Title:

  

 Signature Page 

					
	DIGITAL REALTY TRUST, L.P.
		
	By:	 	 Digital Realty Trust, Inc.,
 its Sole General
Partner

			
	 	 	By:	 	 
	 	 	 	 	 Name:

	 	 	 	 	 Title:

  

 Signature PageEmployment Agreement dated May 13, 2005

 Exhibit 10.10 
  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement (“Agreement”) is made and entered into on May 13, 2005 to be effective as of July 1, 2004, by and between A-G GEOPHYSICAL PRODUCTS,
INC., a Texas corporation with its principal place of business in Harris County, Texas at 14880 Skinner Road, Cypress, Texas 77429 or P. O. Box 461, Cypress, Texas 77410 (“Company”) and MICHAEL C. HEDGER, a Texas resident at 12315 Cross
Canyon Lane, Cypress, Texas 77433 (“Hedger”). 
  
 WITNESSETH: 
  
 For and in consideration of the mutual
covenants herein contained, the parties hereto agree as follows: 
  
 1. Duties and Term. The Company hereby employs Hedger as President of the Company, to perform such duties as may be determined by the Board of Directors of the Company which are consistent with similar duties as are customary in the
Company’s industry for an employee of Hedger’s experience and office. The term of this Agreement shall commence on July 1, 2004 and shall continue for a period of three (3) years until June 30, 2007, subject to extension as set forth
herein, (said term, as the same may be extended, being referred to as the “Term”). The Term shall be automatically extended for consecutive additional periods of twelve (12) months each ending on June 30 of each applicable year, unless, at
least twenty-four (24) months prior to the expiration of the then current Term, Company gives written notice to Hedger pursuant to the notice provisions herein of its intention not to extend the Term. The express intent of this provision is that
Hedger will have a three year “rolling” agreement, such that there are always at least twenty-four months remaining under the Agreement. 
  
 2. Compensation. During the Employment Period of this Agreement, the Company shall pay compensation to Hedger in accordance with the standard
payroll practices of the Company as follows: 
  
 (a) Base Salary. The base salary shall be Seventy-Five Thousand Dollars ($75,000.00) per year payable in equal installments on the Company’s normal salary payment dates, less normal deductions and withholding for taxes and FICA.
It is understood that the Company may, in the discretion of its Board of Directors, increase such base salary above the amount provided for herein without affecting any of the other terms of this Agreement. 
  

 Employment Agreement Between 
 Michael Hedger and A-G Geophysical 
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 (b) Commissions. A sales commission equal to three and one-half percent (3.5%) on
all Company sales shall be paid to Hedger. Commission payments will be made to Hedger within fifteen (15) days after the month in which payment for sales are received. Adjustments to such commission payments will be made for returns on an as-needed
basis. 
  
 (c) Duties. Hedger shall
perform his duties in accordance with and subject to such policies, guidelines and directions as are consistent herewith and established by the Board of the Company from time to time. Hedger acknowledges that as an executive performing services for
a subsidiary of a publicly held company he will need to conform with certain policies and procedures not previously incorporated in the policies and procedures of the Company. 
  
 (d) Performance Bonus. Company shall pay to Hedger, with respect to each of Company’s fiscal
years during the Term, such performance bonus, if any, as the Board of Directors of Company may, in its discretion, determine. Notwithstanding the foregoing, Company agrees that all such performance bonuses shall be based upon the performance of
Company and Hedger. All such bonuses shall be paid within sixty (60) days of the end of the fiscal year of Company to which the same relate. 
  
 3. Expenses. 
  
 (a) Reimbursement. The company will reimburse Hedger for all reasonable and necessary expenses reasonably incurred by him in
carrying out his duties under this Agreement including reimbursement of all reasonable travel and entertainment expenses incurred by Hedger in accordance with the Company’s standard expense reimbursement procedure. Hedger shall present to the
Company an itemized account of such expenses in such form as may be reasonably required by the Company. The Company may reasonably limit the amount of expenses Hedger may incur on behalf of the Company. 
  
 (b) Automobile. In recognition of Hedger’s need
for an automobile for business purposes, the Company shall provide Hedger with a Company owned automobile during the Employment Period, such automobile to be selected by the Company. The Company shall pay all expenses for insurance and maintenance
of said automobile, excluding any tax liability that Hedger may incur by reason of any personal use of the automobile which shall be Hedger’s responsibility. 
  
 4. Health Insurance. The Company shall provide Hedger such hospitalization and major medical insurance coverage for
Hedger as provided to other key or executive employees of the Company. 
  

 Employment Agreement Between 
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 5. Vacations. Hedger shall be entitled to four (4) weeks vacation during each calendar year of the
Employment Period. Except for absences due to illness, disability, customary paid holidays and the vacation provided herein, Hedger agrees to devote his best efforts and full working time and attention to the performance of his duties hereunder.

  
 6. Representation. Hedger represents and warrants to
the Company that he is free to accept employment with the Company hereunder, and that he has no prior or other obligations or commitments of any kind to anyone which would in any way hinder or interfere with his acceptance of and performance of such
employment with the Company. 
  
 7. Full Time to be
Devoted. Subject to the termination provisions of paragraphs 9, hereof the Company shall employ Hedger; and Hedger shall work for the Company as President during the Employment Period. Hedger shall devote his full effort, skill, and attention to
the affairs of the Company and as much time as is reasonably required to faithfully perform his duties hereunder to promote the Company’s interests and observe and perform his agreements contained herein. 
  
 8. Other Business. Hedger shall devote his full working time,
attention, and energy to the business of the Company and corporations affiliated with the Company, including Bolt Technology Corporation (“Bolt”), and shall not during the term of this Agreement be engaged in any other business activity if
pursued for gain, profit, or other pecuniary advantage. The foregoing shall not be construed as preventing Hedger from making investments in businesses or enterprises provided such investment do not require any services on the part of Hedger in the
operation or the affairs of such businesses or enterprises, or interfere with the performance of his duties hereunder. 
  
 9. Termination. Subject to the provisions of this Paragraph 9, either Company or Hedger may terminate this Agreement prior to the expiration of the
Term, as provided for herein. 
  

	 	(A)	Company shall have the right to terminate this Agreement for Cause (as hereinafter defined), whereupon the Term shall be at an end. Hedger shall have the right to terminate this
Agreement for Good Reason (as hereinafter defined), whereupon the Term shall be at an end, subject to the obligations of the Company to pay and provide the payments and benefits set forth in this Employment Agreement. 

  

	 	(B)	If Company terminates this Agreement for other than Cause or Hedger terminates this Agreement for Good Reason, then Company shall be obligated to: 

  

	 	(i)	pay to Hedger, within thirty (30) days after the date of such termination, all accrued but unpaid amounts payable hereunder with respect to the period prior to the date of
termination (including, without limitation, accrued commissions and unused vacation pay); and 

  

 Employment Agreement Between 
 Michael Hedger and A-G Geophysical 
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	 	(ii)	pay to Hedger any and all sums which would have become payable to Hedger under this Agreement during the three (3) year period following the date of such termination (the
“Severance Period”). Said sums are sometimes hereinafter referred to as the “Severance Period Payments”. Subject to acceleration as hereinafter provided, the Severance Period Payments shall be paid as and when the same would
otherwise have been required to be paid, assuming that Hedger had remained employed under this Agreement during the Severance Period. The Severance Period Payments shall be computed based upon (a) the then base salary and (b) commissions based upon
the average of the commissions paid to Hedger during the three fiscal years preceding the date of such termination. 

  
 Notwithstanding the foregoing, Hedger shall have the continuing right, at any time following the date of termination, to elect to have the Severance
Period Payments paid in a lump sum. Said right shall be exercised by Hedger giving written notice to Company, whereupon the Company shall, within (30) days after such a notice from Hedger, pay to Hedger a lump sum amount equal to the total of all
then outstanding and unpaid Severance Payments. Said lump sum amount shall be computed without any discount for present value. 
  

	 	(C)	If Company terminates this Agreement for Cause, or if Hedger terminates this Agreement for other than Good Reason, then Company shall pay to Hedger, within (30) days after the date
of such termination, all accrued but unpaid amounts payable hereunder with respect to the period ending on the date of termination (including, without limitation, accrued commissions and unused vacation pay). 

  

	 	(D)	For purposes of this Agreement, “Cause” shall mean: 

  

	 	(i)	Hedger’s conviction of a felony other than arising out of a motor vehicle incident: or 

  

	 	(ii)	An intentional and material breach by Hedger of his duties and responsibilities hereunder which is not remedied within (30) days after receipt by Hedger of written notice from the
Chairman of the Board of Directors of the Company (or if the nature of such breach is such that it cannot reasonably be completely cured within 30 days, if Hedger shall not have commenced to cure said breach within said 30 day period and thereafter
diligently pursued said cure to completion). 

  

	 	(E)	For purposes of this Agreement, “Good Reason” shall mean: 

  

	 	(i)	 the Company shall materially breach this Agreement, and fail to cure such breach within (30) days after the first notice by Hedger to the Company of the 

  

 Employment Agreement Between 
 Michael Hedger and A-G Geophysical 
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breach (or, if the nature of such breach is such that it cannot reasonably be completely cured within 30 days, if Company shall not have commenced to cure
said breach within said 30 day period and thereafter diligently pursued said cure to completion). 

  

	 	(ii)	the occurrence of a “Defined Corporate Change” as defined in Schedule A attached. 

  
 Any election by Hedger to terminate for “Good Reason” shall be made within twenty four (24) months after the
occurrence of the event or events constituting “Good Reason”. 
  

	 	(F)	In the event that any payment to Hedger hereunder shall remain unpaid for a period of ten (10) days after its due date, interest shall, at Hedger’s option, accrue on the unpaid
portion thereof at the Prime Rate, but not exceeding the maximum rate allowed by law and shall be payable on demand. The “Prime Rate” is the Prime Rate as published in the “Money Rates” table of the Wall Street Journal by Dow
Jones & Company, Inc. If more than one Prime Rate is published in the “Money Rates” table the highest of those Prime Rates will apply. If the Wall Street Journal ceases publication, or ceases to publish a Money Rates table or if a
Prime Rate is no longer included among the rates published therein, Hedger will designate a comparable index. 

  
 10. Confidentiality and Covenant Not to Disclose. 
  
 (a) Hedger agrees that, by virtue of the performance of the normal duties of his position with the Company or Bolt and by virtue of the
relationship of trust and confidence between Hedger and the Company, he possess certain data and knowledge of operations of the Company or Bolt which are proprietary in nature and confidential. Hedger covenants and agrees that he will not, at any
time, from the period commencing on the date of this Agreement and continuing until five (5) years after the termination of his employment with the Company or Bolt whether under this Agreement or otherwise, reveal, divulge or make known to any
person (other than the Company or Bolt) or use for his own account, or for the benefit of any other person or entity other than the Company or Bolt, any confidential or proprietary records, data, trade secrets, pricing policy, bid strategy, rate
structure, personnel policy, method or practice of obtaining or doing business by the Company or Bolt, or any other confidential or proprietary information whatsoever (the “Confidential Information”), whether or not obtained with the
knowledge and permission of the Company or Bolt and whether or not developed, devised or otherwise created in whole or in part by the efforts of Hedger. Hedger further covenants and agrees that he shall retain all such knowledge and information
which he shall acquire or develop respecting such Confidential Information for the sole benefit of the Company or Bolt and its successors and assigns. 
  

 Employment Agreement Between 
 Michael Hedger and A-G Geophysical 
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 (b) Hedger acknowledges and agrees that all computer programs and disks, manuals,
drawings, blueprints, letters, notes, notebooks, reports, books, procedures, forms, documents, records or papers, or copies thereof, pertaining to the operations or business of the Company or Bolt made or received by Hedger or made known to him in
any way in connection with his employment and any other Confidential Information are and will be the exclusive property of the Company. Hedger agrees not to copy or remove any of the above from the premises and custody of the Company, or disclose
the contents thereof to any other person or entity, or make use thereof for his own purposes or for the benefit of any other person or entity, except as specifically authorized in writing by the Chief Executive Officer or Board of Directors of Bolt
or in connection with the performance of his duties under this Agreement. Hedger acknowledges that all such computer programs and disks, papers and other materials will at all times be subject to the control of the Company, and Hedger agrees to
surrender and return the same to the Company upon request of the Company, and in any event will surrender and return such no later than the termination of Hedger’s employment hereunder, whether voluntary or involuntary. The Company may notify
anyone employing Hedger at any time of this provision of this Agreement. The obligations of this Paragraph 10 shall survive the termination of this Agreement. 
  

11. Inventions and Discoveries. Hedger hereby assigns, transfers and conveys to the Company all of the Hedger’s right, title and interest
to, and shall promptly disclose to the Chief Executive Officer and to the Board of Directors of the Company, all ideas, inventions, discoveries, or improvements ( whether or not patentable) conceived or developed solely, or jointly with others, by
Hedger during his term of employment, (a) which relate directly or indirectly to the business of the Company or Bolt as conducted at any time during his term of employment; (b) which relate to the actual or anticipated research or development
activities of the Company; (c) which result from any work performed by Hedger for the Company or Bolt; (d) for which Confidential Information of the Company or Bolt was used. Upon the request of the Company, Hedger shall execute and deliver to the
Company any and all instruments, documents and papers, give evidence and do any and all other acts which the Company deems necessary or desirable to document such assignment, transfer and conveyance, or to enable the Company to file and prosecute
applications for, and to acquire, maintain and enforce, any and all patents, trademark registrations or copyrights under United States or foreign law with respect to any such discoveries, or to obtain any extension, validation, reissue, continuance
or renewal of any such patent, trademark or copyright. The Company will be responsible for the preparation of any such instruments, document and papers and shall reimburse Hedger for all reasonable expenses incurred by him in complying with the
provisions of this Paragraph 11; provided, Hedger shall not be entitled to any further compensation or consideration for performance of his obligations under this Paragraph 11. The obligations of Hedger under this Paragraph 11 shall survive the
termination of this Agreement. 
  
 12. Non-Interference
Covenant. Hedger covenants and agrees that he will not, at any time, from the period commencing on the date of this Agreement and continuing until five (5) years after the termination of his employment with the Company or Bolt whether under this

  

 Employment Agreement Between 
 Michael Hedger and A-G Geophysical 
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Agreement or otherwise, directly or indirectly, for whatever reason, whether for his own account or for the account of any other person, firm, corporation or
other organization, (i) solicit, employ, deal with or otherwise interfere with any of the Company’s or Bolt’s contracts or relationships with any employee, officer, director, or any independent contractor, whether the person is employed by
or associated with the Company or Bolt on the date of this Agreement or at any time during or after the expiration of the term of employment or (ii) solicit, deal with or otherwise interfere with any of the Company’s or Bolt’s contracts or
relationships with any independent contractor, customer, client or supplier of the Company or Bolt. The provisions of this Paragraph 12, shall survive the termination of this Agreement. 
  
 13. Business Materials and Property of the Company and Bolt. All written materials, records and documents (whether
hard copies or in electronic media) made by Hedger or coming into his possession concerning the business or affairs of the Company or Bolt shall be the sole property of the Company or Bolt and, upon termination of his employment with the Company or
Bolt, Hedger shall deliver the same to the Company or to Bolt and shall retain no copies. Hedger shall also return to the Company or to Bolt all other property in his possession owned by the Company or Bolt upon termination of his employment.

  
 14. Non-Competition Agreement. 
  
 (a) Hedger absolutely and unconditionally covenants and
agrees with the Company and Bolt that from the period commencing on the date of this Agreement and continuing until one year after the termination of his employment with the Company or Bolt whether under this Agreement or otherwise (the
“Non-Competition Period”), Hedger will not, anywhere in the Restricted Area (as defined in subparagraph (c) below), either directly or indirectly, solely or jointly with any other person or persons, as an employee, consultant, or advisor
(whether or not engaged in business for profit), or as an individual proprietor, partner, shareholder, director, officer, joint venturer, investor, lender, or in any other capacity, compete with the business of the Company or of Bolt as conducted as
of the date of execution of this Agreement or as conducted during the Non-Competition Period. 
  
 (b) As used in this Paragraph 14, the term “ compete” shall mean engaging, participating, or being involved in any respect in
the business of, or furnishing any aid, assistance or service of any kind to any person in connection with the distribution sale, marketing or distribution of seismic energy sources, related electrical connectors, hydrophones, pressure transducers,
cable terminations and umbilicals or any product or service of the Company or Bolt or related products or services similar to the products or services at any time, sold, marketed or merchandised by the Company or Bolt, provided however, that the
acquisition of up to five percent (5%) of the outstanding capital stock of any publicly traded company solely for the purpose of investment shall not be considered to be in competition with such business. 
  

 Employment Agreement Between 
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 (c) As used in this Paragraph 14, the term “Restricted Area” shall mean the
United States and any country, province, district, island or possession located outside the United States in which the Company or Bolt does business during the Non-Competition Period. The parties intend for this restriction to be a series of
separate covenants, one for each and every county of each and every state of the United States and each and every country, province, district, island or possession outside of the United States to the extent covered by this Section. Notwithstanding
anything contained in this Section to the contrary, if the period of time or the geographical area specified in this subparagraph (c) should be determined by a court of competent jurisdiction to be unreasonable in any judicial proceeding, then the
parties agree that the provisions shall remain in full force and effect for the greatest time period and in the greatest area that would not render it unenforceable. 
  
 (d) If a court concludes through appropriate proceedings that Hedger has breached the covenant set forth in
this Paragraph 14, the term of the covenant shall be extended for a term equal to the period for which Hedger is determined to have breached the covenant. The provisions of this Paragraph 14 shall survive the termination of this Agreement.

  
 (e) Notwithstanding the foregoing, this
Paragraph 14 shall not be applicable in the event of a termination where there is no successor to the Company’s business. 
  
 15. Breach by Employee. It is expressly understood, acknowledged and agreed by Hedger that (i) the restrictions contained in Paragraphs 10, 12, and
14 of this Agreement are given in consideration of the Company’s and Bolt’s agreements contained herein, and represent reasonable and necessary protections of the legitimate interest of the Company and Bolt and that his failure to observe
and comply with his covenant and agreements in those Paragraphs will cause irreparable harm to the Company and Bolt; (ii) it is and will continue to be difficult to ascertain the nature, scope and extent of the harm; and (iii) a remedy at law for
such failure by Hedger will be inadequate. Accordingly, it is the intention of the parties that, in addition to any other rights and remedies which the Company or Bolt may have in the event of any breach of those paragraphs, the Company and Bolt
shall each be entitled, and each is expressly and irrevocably authorized by Hedger, to demand and obtain specific performance including without limitation, temporary and permanent injunctive relief, and all other appropriate equitable relief against
Hedger, in order to enforce against Hedger, or in order to prevent any breach or any threatened breach by Hedger, of the covenants and agreements contained in those paragraphs. 
  
 16. Stock Option Plan. During the term of his employment, Hedger shall be a participant in Bolt’s Amended and
Restated 1993 Stock Option Plan (the “Stock Option Plan”), subject to the terms and conditions of the Plan as may be adopted and amended at any time and from time to time. 
  
 17. Relocation. The Company shall not transfer Hedger to another location more than fifty (50) miles from the
Company’s Skinner Road address without Hedger’s prior written 

  

 Employment Agreement Between 
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consent and only after providing Hedger ninety (90) days prior written notice of the Company’s intent to relocate Hedger. 
  
 18. Miscellaneous. 
  
 (a) This Agreement sets forth the entire agreement and
understanding of the parties concerning the subject matter hereof and supersedes all prior agreements, arrangements, and understandings between the parties hereto. 
  
 (b) No representation, promise, inducement, or statement of intention has been made by or on behalf of
either party hereto which is not set forth in this Agreement. 
  
 (c) This Agreement may not be amended or modified except by written instrument executed by the parties hereto. 
  
 (d) Any notice required permitted to be given under this Agreement shall be sufficient if in writing and delivered in person, or if sent
by certified mail to Hedger and to the Company as specified hereafter, or to such other address as either party shall designate by written notice to the other. 
  

(e) The terms and provisions of this Agreement shall inure to the benefit of Hedger and the Company, their respective subsidiaries,
affiliates, heirs, legal representatives, successors and assigns. 
  
 (f) The failure of the Company at any time or from time to time to require performance of any of Hedger’s obligations under this Agreement shall in no manner affect the Company’s right to enforce any
provision of this Agreement at a subsequent time and shall not constitute a waiver by the Company of any right arising out of any subsequent breach. 
  
 (g) This Agreement shall be subject to and governed by the laws of the State of Texas. Venue for all actions accruing under this Agreement
shall lie exclusively in Harris County, Texas. 
  
 (h) In the event that any court of competent jurisdiction shall finally determine that any provision, or any portion thereof, contained in this Agreement shall be void or unenforceable in any respect, then such provision shall be deemed
limited to the extent that such court determines it enforceable, and as so limited shall remain in full force and effect. In the event that such court shall determine any such provision, or portion thereof wholly unenforceable, the remaining
provisions of this Agreement shall nevertheless remain in full force and effect, provided that the severing of such provision or portion thereof will not materially change the substance of this Agreement. 
  

 Employment Agreement Between 
 Michael Hedger and A-G Geophysical 
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 (i) In the event that litigation is initiated by either party pursuant to this Agreement,
Employee’s employment, and/or Employee’s departure from the Company, Company agrees to pay Employee’s attorneys fees and litigation costs for any dispute regarding this Agreement up to $50,000.00, with such amounts payable to Employee
or his counsel while the litigation is pending and if employee is successful in this litigation or dispute, then Employer shall reimburse Employee for the full amount of the cost in excess of $50,000.00 within ten days after the resolution of the
litigation or dispute. 
  
 IN WITNESS WHEREOF, the parties have executed this
Agreement on the day and year first above written to be effective for the period described therein. 
  

			
	COMPANY
	
	 A-G GEOPHYSICAL PRODUCTS, INC.

		
	 By:
	 	/s/ Raymond M. Soto
	 Raymond M. Soto, Chairman of the Board

  

	
	HEDGER
	
	/s/ Michael C. Hedger
	 MICHAEL C. HEDGER

  

 Employment Agreement Between 
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 GUARANTEE BY BOLT 
  
 Bolt Technology Corporation (“Bolt”) is the ultimate parent company of Company (A-G Geophysical Products, Inc.) in the Agreement
above. Bolt agrees to guarantee the performance of Company under the Agreement, specifically including but not limited to the financial and payment obligations of Company. 
  

			
	 BOLT TECHNOLOGY CORPORATION

		
	 By:
	 	/s/ Raymond M. Soto
	 Raymond M. Soto, Chairman of the Board

  

 Employment Agreement Between 
 Michael Hedger and A-G Geophysical 
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 SCHEDULE A 
  

For purposes hereof, a “Defined Corporate Change” shall mean the occurrence of any of the following regarding Bolt Technology Corporation
(“Bolt”): 
  
 (1) the acquisition of beneficial
ownership of 30% or more of the shares of the common stock of Bolt by or for any person (as such term is defined in Section 14(d) (2) of the Securities Exchange Act of 1934), including for purposes of calculating such person’s ownership all
shares beneficially owned by the affiliates and associates (as such terms are defined in Rule 12b-2 of said Act) of such person, or 
  
 (2) during any period of 24 consecutive months, individuals who at the beginning of such period constitute the Board of Directors of Bolt cease for any
reason to constitute a majority thereof, unless the election, or nomination for election by Bolt’s stockholders, of each new director was approved by a vote of at least two-thirds of the directors then still in office who were directors at the
beginning of such period; or 
  
 (3) Bolt’s stockholders
shall approve (a) the merger or consolidation of Bolt with or into another corporation and Bolt shall not be the surviving corporation or (b) an agreement to sell or otherwise dispose of all or substantially all of Bolt’s assets (including a
plan of liquidation), or 
  
 (4) any other event of a nature that
would be required to be reported in response to Item 5(f) of Schedule 14A of Regulation 14A promulgated under the aforesaid Act as in effect on December 19, 1985. 
  

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