Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT TO 
 AMENDED AND
RESTATED PROLOGIS, INC. 
 2011 NOTIONAL ACCOUNT DEFERRED COMPENSATION PLAN 

WHEREAS, Prologis, Inc. (the “Company”) maintains the Amended and Restated Prologis, Inc. 2011 Notional Account Deferred
Compensation Plan (the “Plan”); 
 WHEREAS, the Company has the authority to amend the Plan; and 

WHEREAS, amendment of the Plan is now considered desirable; 

NOW THEREFORE, the Plan is hereby amended in the following particulars, all effective as of
                    ,             : 

1.    By adding the following as Section 12.20 to the Plan immediately after Section 12.19 thereof: 

“12.20 Supplements and Appendices. The provisions of the Plan as applied to any Employer, Employee, Participant, group of
employees or group of Participants may be modified or supplemented from time to time by the adoption of one or more Supplements or Appendices. Each Supplement or Appendix shall form a part of the Plan as of the Supplement’s or Appendix’s
effective date. In the event of any inconsistency between a Supplement or Appendix and the Plan document, the terms of the Appendix or Supplement shall govern.” 

2.    By adding the following as Supplement A to the Plan, which shall appear at the back of the Plan immediately after
the signature page: 
 “SUPPLEMENT A TO 

AMENDED AND RESTATED PROLOGIS, INC. 

2011 NOTIONAL ACCOUNT DEFERRED COMPENSATION PLAN 

(Special Provisions for Hamid R. Moghadam) 
 A-1.    Application and Definitions. The provisions of this Supplement A to the Amended and Restated Prologis, Inc. 2011 Notional Account Deferred Compensation Plan (the ‘Plan’)
shall apply to Hamid R. Moghadam (the ‘Covered Participant’). Unless the context clearly implies or indicates the contrary, a word, term or phrase used or defined in the Plan is similarly used or defined for purposes of this Supplement A.
The provisions of this Supplement A shall be effective as of                     ,
            . 

A-2.    Definition of Account Balance. The Covered Participant’s ‘Account
Balance’ under the Plan shall be computed in accordance with Section 1.1 of the Plan as of the last business day immediately preceding the date specified by the Committee (the ‘Determination Date’) and, as of any date from and
after the Determination Date, the Covered Participant’s Account Balance shall be equal to his Notional Earnings Account as of such date (as adjusted in accordance with Section A-3 hereof). The Account
Balance (and any other accounts under the Plan) shall be a bookkeeping entry only and shall be utilized solely as a device for measurement and determination of the amounts to be paid to the Covered Participant, or his designated Beneficiary,
pursuant to the Plan. 

 A-3.    Notional Earnings Account.
Notwithstanding the provisions of Section 3.1 or any other provision of the Plan, as of the Determination Date, the balance of the Covered Participant’s Notional Earnings Account shall be equal to his Account Balance as determined in
accordance with Section A-2 of this Supplement. As of the Determination Date, the Covered Participant’s Notional Earnings Account shall be deemed to be invested in a Measurement Fund (the ‘Company
Stock Fund’) consisting of shares of common stock, $.01 par value, of the Company (‘Common Stock’) with respect to that number of shares of Common Stock having a fair market value as of the Determination Date equal to the Account
Balance as of the Determination Date unless and until the Covered Participant elects to change the Measurement Fund in accordance with Section A-4 of this Supplement. All deemed investments under the Plan are
hypothetical and for bookkeeping purposes only. For purposes of this Supplement A, “fair market value” shall be determined in accordance with the methodology used for valuing equity awards under the Company’s long-term incentive plan
as in effect as of the date of the relevant determination. 
 A-4.    Earnings Credits or
Losses. The provisions of Section 3.3 of the Plan shall apply with respect to the Covered Participant for periods from and after the Determination Date; except as follows: 

 

	 	(a)	 Only the Covered Participant (and no other Participant) shall be permitted to have an investment in the Company
Stock Fund. The Common Stock Fund is only available to the Covered Participant. 

  

	 	(b)	 During any period following the Determination Date that the Covered Participant’s Notional Earnings
Account is deemed invested in the Common Stock Fund (the ‘Stock Investment Period’), cash credits will be made to the Covered Participant’s Notional Earnings Account in accordance with the following: 

 

	 	(i)	 If a dividend with respect to shares of Common Stock is payable in cash, then, as of the applicable dividend
payment date, the Covered Participant’s Notional Earnings Account shall be credited with an amount of cash equal to (A) the cash dividend payable with respect to a share of Common Stock, multiplied by (B) the number of shares
allocated to the Common Stock Fund on the applicable dividend record date. 

  

	 	(ii)	 If a dividend with respect to shares of Common Stock is payable in shares of Common Stock, then, as of the
applicable dividend payment date, the Covered Participant’s Notional Earnings Account shall be credited with an amount of cash equal to (A) the number of shares of Common Stock distributed in the dividend with respect to a share of Common
Stock, multiplied by (B) the fair market value of a share of Common Stock on the dividend payment date, multiplied by (C) the number of shares of Common Stock allocated to the Common Stock Fund on the applicable dividend record date.

  
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	 	(c)	 The value of the portion of the Covered Participant’s Notional Earnings Account that is invested in the
Common Stock Fund as of any date shall be equal to the fair market value of the shares of Common Stock allocated (as a hypothetical investment) to the Common Stock Fund as of the applicable date. The only earnings that shall be credited with respect
to amounts invested in the Common Stock Fund shall be cash credits related to dividends in accordance with Section A-4(b). 

 

	 	(d)	 Changes may be made to the Covered Participant’s Measurement Fund allocation elections in accordance with
Section 3.3(a) of the Plan at any time during the Plan Year, without regard to the number of changes per Plan Year. 

 A-5.    Stock or LTIP Unit Distribution. The provisions of Section 5.7 of the Plan apply with respect to the distribution of the Covered Participant’s Account Balance (including
the portion that is invested in the Company Stock Fund); provided, however, that (a) to the extent that the Covered Participant made an election pursuant to Section 5.7 of the Plan prior to the Determination Date to receive distribution in
the form of LTIP Units, such election shall remain in effect (including with respect to any portion of the Account Balance that is invested in the Company Stock Fund) unless and until it is changed by the Covered Participant in accordance with the
terms of the Plan and (b) the Covered Participant may elect to have all or any portion of his Account Balance (determined at the time of distribution) that is invested in the Company Stock Fund at the time of distribution distributed in the
form of shares of Common Stock having a fair market value at the time of distribution equal to the value of the portion of the Account Balance that is to be distributed in such form. 

A-6.    Trust. Notwithstanding the provisions of Section 11.1 of the Plan, neither the
Company nor any other Employer shall have any obligation to transfer any amounts to the Trust with respect to the portion of the Covered Participant’s Notional Earnings Account that is invested in the Common Stock Fund. 

A-7.    No Actual Investment. Notwithstanding any other provision of the Plan or this
Supplement A that may be interpreted to the contrary, the Covered Participant’s interest under the Plan, including any amounts allocated to any Measurement Fund (including the Company Stock Fund), are for measurement purposes only and shall not
be considered or construed in any manner as an actual investment of the Covered Participant. In the event that any Employer or the Trustee, in their own discretion, decides to invest any or all of the investments directed by the Covered Participant,
the Covered Participant shall have no rights in or to such investments themselves. Without limiting the generality of the foregoing, the Covered Participant’s Notional Earnings Account shall at all times be a bookkeeping entry only and shall
not represent any investment made on his behalf by the Company, any Employer or the Trust; the Covered Participant shall at all times remain an unsecured creditor of the Employers. 

A-8.    Other Terms of Plan. Except as otherwise provided in this Supplement A, the terms
and conditions of the Plan shall apply to the Covered Participant. Nothing in this Supplement A is intended or shall be construed to constitute a change in the form of time of payment for purposes of Section 409A of the Code.” 

  
 3EX-10.2

 Exhibit 10.2 

PROLOGIS, INC. 
 2020
LONG-TERM INCENTIVE PLAN 
 LTIP UNIT AWARD AGREEMENT 

Name of the Grantee: [                    ] (the
“Grantee”) 
 No. of LTIP Units Awarded:
[                    ] 
 Grant Effective Date:
[            ] 
 RECITALS 

A.    The Grantee is an employee of Prologis, Inc. (the “Company”) or a “Related Company” as
defined in the Prologis, Inc. 2020 Long-Term Incentive Plan (as amended and supplemented from time to time, the “Plan”) and provides services to Prologis, L.P., through which the Company conducts substantially all of its operations (the
“Partnership”). 
 B.     Pursuant to the Limited Partnership Agreement of the Partnership (as amended and
supplemented from time to time, the “Partnership Agreement”), the Company, as general partner of the Partnership, hereby grants to the Grantee a Full Value Award (as defined in the Plan, referred to herein as an “Award”) in the
form of, and by causing the Partnership to issue to the Grantee, the number of LTIP Units (as defined in the Partnership Agreement) set forth above (the “Award LTIP Units”) having the rights, voting powers, restrictions, limitations as to
distributions, qualifications and terms and conditions of redemption and conversion set forth in this LTIP Unit Award Agreement (the “Agreement”) and in the Partnership Agreement. 

[C.    Pursuant to the Second Amended and Restated Prologis Promote Plan (as amended, restated and supplemented from time
to time, the “Promote Plan”), the Compensation Committee (the “Committee”) of the Board of Directors of the Company has determined that a Bonus (as defined in the Promote Plan) was payable to the Grantee in connection with
certain incentive distributions paid to the Company or its affiliate by [Applicable Fund]. This Award represents the portion of such Bonus payable to the Grantee, who is a Senior Executive (as defined in the Promote Plan), in shares of Restricted
Stock, Restricted Stock Units or LTIP Units (as such terms are defined in the Promote Plan), as determined by the Committee in accordance with the terms of the Promote Plan.] [For Promote Plan awards only] 

[C.    This Award represents the Grantee’s award under the Company’s Annual Performance Award earned in 20[__]]
[For annual awards] 
 [C.    This Award represents the Grantee’s equity award received in connection with
the Grantee’s onboarding as a new employee.] [For new hire awards] 

 D.    Upon the close of business on the Grant Effective Date, the
Grantee shall receive an award of that number of LTIP Units specified above, subject to the restrictions and conditions set forth herein[, in the Promote Plan]1, in the Plan, and in the
Partnership Agreement. 
 E.    [Unless otherwise defined herein, capitalized terms used in this Agreement shall have
the meaning specified in the Promote Plan]2. 
 NOW, THEREFORE, the Company, the
Partnership and the Grantee agree as follows: 
 1.    Effectiveness of Award. As of the Grant Effective
Date, the Grantee shall be admitted as a partner of the Partnership with beneficial ownership of the Award LTIP Units by (i) signing and delivering to the Partnership a copy of this Agreement, (ii) signing, as a Limited Partner, and
delivering to the Partnership a counterpart signature page to the Partnership Agreement (attached hereto as Exhibit A), and (iii) making a Capital Contribution (as defined in the Partnership Agreement) to the Partnership, in cash, in the amount
of $0.01 per Award LTIP Unit (the “Per Unit Contribution”). Upon satisfaction of the foregoing requirements and execution of this Agreement by the Grantee, the Partnership and the Company, the books and records of the Partnership
maintained by the General Partner shall reflect the issuance to the Grantee of the Award LTIP Units. Thereupon, the Grantee shall have all the rights of a Limited Partner (as defined in the Partnership Agreement) of the Partnership with respect to a
number of LTIP Units equal to the number of Award LTIP Units, subject, however, to the restrictions and conditions specified in Section 2 below and elsewhere herein. The LTIP Units are uncertificated securities of the Partnership and upon the
Grantee’s request the General Partner shall confirm the number of LTIP Units issued to the Grantee. 

2.    Vesting and Forfeiture of Award LTIP Units.  

(a)    Subject to Section 11 hereof, and subsection 4.3 of the Plan, the Award LTIP Units will vest as to the number
of Award LTIP Units, and on the dates, set forth below (each such date a “Vesting Date”) provided that the Grantee’s Termination Date (as defined in the Plan) has not occurred as of the applicable Vesting Date; provided, however, that
if the Grantee’s Termination Date occurs by reason of death or Disability (as defined in the Plan), or if the Grantee’s Termination Date occurs (other than termination for Cause) after satisfying the eligibility requirements for Retirement
(as defined below) (the “Age and Service Conditions”), then, in any such case, any unvested Award LTIP Units shall vest immediately on the Termination Date and the Termination Date shall be the “Vesting Date” for purposes of this
Agreement. All Award LTIP Units that are not vested on or before the Grantee’s Termination Date shall thereupon, and with no further action and at no cost to the Company, be immediately forfeited by the Grantee and the Grantee shall have no
further rights with respect to such Award LTIP Units (including the right to vest in such Award LTIP Units). 
  

	1 	 Bracketed provisions to be included in Promote Plan awards only. 

	2 	 For Promote Plan awards only. 

  
 2 

			
	 Incremental Number
of Award LTIP
Units Vested
	  	 Vesting Date

	
                
                        
	  	            , 201[    ]
	
                
                        
	  	            , 201[    ]
	
                
                        
	  	            , 201[    ]
	
                
                        
	  	            , 201[    ]

 “Retirement” means the occurrence of a Grantee’s Termination Date after either one of the following conditions
are met: (A) the Grantee has attained at least age 55 and has completed at least fifteen (15) years of service with the Company and the Related Companies (including any predecessors thereto) or (B) the Grantee has attained at least
age 60 and the sum of his or her age and years of service with the Company and the Related Companies (including any predecessors thereto) equals or exceeds seventy (70). 

(b)    Notwithstanding the foregoing, the Retirement vesting provisions shall not apply if and to the extent provided in a
separate written agreement between the Company (or an affiliate of the Company) and the Grantee. 

(c)    Notwithstanding anything to the contrary set forth in this Agreement, this Award is subject to the Recoupment
Policy set forth in the Prologis Governance Guidelines as in effect from time to time, any other clawback or recoupment policies that are adopted by the Company, and the provisions of the Plan relating to recoupment, misconduct and good standing.

 (d)    For purposes of this Award, the Committee shall have the exclusive discretion to determine Grantee’s
Termination Date. 
 3.    Distributions. The Grantee shall be entitled to receive distributions
with respect to the Award LTIP Units to the extent provided for in the Partnership Agreement as follows: 
 (a)    The
Award LTIP Units are hereby designated as regular “LTIP Units.” 
 (b)    The LTIP Unit Distribution
Participation Date (as defined in the Partnership Agreement) with respect to the Award LTIP Units is the Grant Effective Date. 

(c)    All distributions paid with respect to the Award LTIP Units shall be fully vested and non-forfeitable when paid, whether or not the Award LTIP Units have been earned based on performance or have become vested based on continued employment as provided in Section 2 hereof. 

4.    Rights with Respect to Award LTIP Units. Without duplication with the provisions of
Section 4 of the Plan[, the Promote Plan,] or Section 1.14 of Exhibit K to the Partnership Agreement, if (i) the Company shall at any time be involved in a merger, consolidation, dissolution, liquidation, reorganization,
exchange of shares, sale of all or substantially all of the assets or capital stock of the Company or a transaction similar thereto, (ii) 

  
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any stock dividend, stock split, reverse stock split, stock combination, reclassification, recapitalization, or other similar change in the capital structure of the Company, or any distribution
to holders of Stock (as defined in the Plan), other than ordinary cash dividends, shall occur, or (iii) any other event shall occur which, in each case in the judgment of the Committee, necessitates action by way of adjusting the terms of this
Award, then and in that event, the Committee may take such action, if any, as it determines to be reasonably required to maintain the Grantee’s rights hereunder so that they are substantially proportionate to the rights existing under this
Agreement prior to such event, including, but not limited to, substitution of other awards under the Plan. 

5.    Incorporation of [Promote Plan and ]the Plan; Interpretation by Committee. This Agreement is
subject in all respects to the terms, conditions, limitations and definitions contained in [the Promote Plan and] the Plan. In the event of any discrepancy or inconsistency between this Agreement[, the Promote Plan] and the Plan, the terms and
conditions of the [Promote] Plan shall control. The Committee may make such rules and regulations and establish such procedures for the administration of this Agreement as it deems appropriate. Without limiting the generality of the foregoing, the
Committee may interpret [the Promote Plan,] the Plan and this Agreement, with such interpretations to be conclusive and binding on all persons and otherwise accorded the maximum deference permitted by law. In the event of any dispute or disagreement
as to interpretation of [the Promote Plan,] the Plan or this Agreement or of any rule, regulation or procedure, or as to any question, right or obligation arising from or related to [the Promote Plan,] the Plan or this Agreement, the decision of the
Committee shall be final and binding upon all persons. 
 6.    Restrictions on Transfer.  

(a)    Except as otherwise permitted by the Committee, none of the Award LTIP Units granted hereunder nor any of the common
units of the Partnership into which such Award LTIP Units may be converted (the “Award Common Units”) shall be sold, assigned, transferred, pledged, hypothecated, given away or in any other manner disposed of, or encumbered, whether
voluntarily or by operation of law (each such action a “Transfer”) and right to Redemption (as defined in the Partnership Agreement) may not be exercised until such Award LTIP Units have vested pursuant to Section 2 hereof; provided,
however, that Award LTIP Units may be Transferred prior to such date in accordance with Section 6.5 of the Plan, so long as the Transferee agrees in writing with the Company and the Partnership to be bound by all the terms and conditions of
this Agreement and the Partnership Agreement and that subsequent Transfers shall be prohibited except those in accordance with this Section 6. 

(b)    The right to Redemption may be exercised with respect to Award Common Units, and Award Common Units may be
Transferred to the Partnership or the Company in connection with the exercise thereof, in accordance with and to the extent otherwise permitted by the terms of the Partnership Agreement. Notwithstanding the foregoing, without the consent of the
General Partner, the right to Redemption shall not be exercisable with respect to any Award Common Units until two (2) years after the Grant Effective Date; provided however, that the foregoing restriction shall not apply (i) if the right
of Redemption is exercised in connection with a Change in Control (as defined in the Plan) or (ii) in connection with an LTIP Unit Forced Conversion in connection with a Capital Transaction as described in the Partnership Agreement. 

  
 4 

 (c)    Additionally, all Transfers of Award LTIP Units or Award Common
Units must be in compliance with all applicable securities laws (including, without limitation, the Securities Act (as defined in the Partnership Agreement)) and the applicable terms and conditions of the Partnership Agreement. In connection with
any Transfer of Award LTIP Units or Award Common Units, the Partnership may require the Grantee to provide an opinion of counsel, satisfactory to the Partnership, that such Transfer is in compliance with all federal and state securities laws
(including, without limitation, the Securities Act). 
 (d)    Any attempted Transfer of Award LTIP Units or Award
Common Units not in accordance with the terms and conditions of this Section 6 shall be null and void, and the Partnership shall not reflect on its records any change in record ownership of any Award LTIP Units or Award Common Units as a result
of any such Transfer, shall otherwise refuse to recognize any such Transfer and shall not in any way give effect to any such Transfer of any Award LTIP Units or Award Common Units. 

(e)    This Agreement is personal to the Grantee, is non-assignable and is not
transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. 

7.    Legend. The books and records of the Partnership or other documentation evidencing the Award
LTIP Units shall bear an appropriate legend or notation, as determined by the Partnership in its sole discretion, to the effect that such LTIP Units are subject to restrictions as set forth herein, [in the Promote Plan,] in the Plan and in the
Partnership Agreement. 
 8.    Tax Matters; Section 83(b) Election. The
Grantee hereby agrees to make an election to include in gross income in the year of transfer the unvested Award LTIP Units hereunder pursuant to and in accordance with the requirements of Section 83(b) of the Code (as defined in the Plan)
substantially in the form attached hereto as Exhibit B and to supply the necessary information in accordance with the regulations promulgated thereunder. The Grantee shall provide a copy of the Section 83(b) election to the Company. 

9.    Withholding and Taxes. 

(a)    The Grantee acknowledges that, regardless of any action taken by the Company or the Partnership or, if different,
the Grantee’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to
the Award and legally applicable to the Grantee (“Tax-Related Items”), is and remains the Grantee’s responsibility and may exceed the amount, if any, actually withheld by the Company or the
Employer. 
 (b)    The Grantee acknowledges and agrees that the Company and/or the Employer (i) make no
representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of this Award, including, but not limited to, the grant, vesting or settlement of the Award or the
subsequent disposition of any LTIP Units 

  
 5 

 
acquired pursuant to this Award; and (ii) do not commit to and are under no obligation to structure the terms of the Award to reduce or eliminate the Grantee’s liability for Tax-Related Items or achieve any particular tax result. Further, if the Grantee is subject to Tax-Related Items in more than one jurisdiction, the Grantee acknowledges that
the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 

(c)    Prior to any relevant taxable or tax withholding event, as applicable, the Grantee agrees to make adequate
arrangements satisfactory to the Company and/or the Employer to satisfy any applicable withholding obligations for Tax-Related Items. If such arrangements are not made by the Grantee by the date specified by
the Company and communicated to the Grantee (and in no event less than 30 days prior to the Vesting Date), the Grantee authorizes the Company or its agent to satisfy any applicable withholding obligations with regard to all Tax-Related Items by deducting such amounts from any cash payments to be made to the Grantee hereunder or withholding in LTIP Units to be issued hereunder (or, if applicable, any Common Units into which the LTIP
Units are converted or shares of Stock issued in redemption of such Common Units). 
 (d)    The Company may withhold or
account for Tax-Related Items by considering the amount that is required by law to be withheld or such other amount determined by the Company or an affiliate that is not prohibited by law but in no event more
than the maximum U.S. federal, state, local or foreign taxes, as applicable (including social insurance tax or contributions obligations, if any). In the event of under-withholding, Participant may be required to pay any additional Tax-Related Items directly to the applicable tax authority or to the Company and/or its designated affiliate. If the obligation for Tax-Related Items is satisfied by
withholding in LTIP Units (or other securities pursuant to paragraph (c)), for tax purposes, Participant is deemed to have been issued the full number of vested Award LTIP Units (or other applicable securities), notwithstanding that a number of the
LTIP Units (or other applicable securities) are held back solely for the purpose of paying the Tax-Related Items. 

(e)    Finally, Participant agrees to pay to the Company or the Employer, including through withholding from
Participant’s wages or other cash compensation paid to Participant by the Company and/or the Employer, any amount of Tax-Related Items that the Company or the Employer may be required to withhold or
account for as a result of Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the LTIP Units issuable upon vesting of the Award LTIP Units, or the
proceeds of the disposition thereof, if Participant fails to comply with Participant’s obligations in connection with the Tax-Related Items. 

10.    Amendment; Modification. This Agreement may only be modified or amended in a writing signed by the
parties hereto, provided that the Grantee acknowledges that the Plan [and the Promote Plan] may be amended or discontinued in accordance with Section 7 of the Plan [and Section 9 of the Promote Plan], and that this Agreement may be amended
or canceled by the Committee, on behalf of the Company and the Partnership, for the purpose of satisfying changes in law or for any other lawful purpose, so long as no such action shall adversely affect the Grantee’s rights under this Agreement
without the Grantee’s written consent. No promises, assurances, commitments, agreements, undertakings or representations, whether oral, written, 

  
 6 

 
electronic or otherwise, and whether express or implied, with respect to the subject matter hereof, have been made by the parties which are not set forth expressly in this Agreement. The failure
of the Grantee or the Company or the Partnership to insist upon strict compliance with any provision of this Agreement, or to assert any right the Grantee or the Company or the Partnership, respectively, may have under this Agreement, shall not be
deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 

11.    Change in Control. 

(a)    In the event that a Change in Control (as defined in the Plan) occurs prior to the Vesting Date, prior to the date
on which any applicable Award LTIP Units have otherwise been forfeited, and prior to the Grantee’s Termination Date, and either (i) the Grantee’s Termination Date occurs on or within twenty-four (24) months following the Change
in Control due to termination by the Company or the successor to the Company or a Related Company which is the Grantee’s employer for reasons other than Cause (as defined in the Plan) or (ii) the Plan is terminated by the Company or its
successor upon or following a Change in Control without provision for the continuation of this Award to the extent then unvested and outstanding, then the Award LTIP Units (or to the extent applicable such other award, security or right to payment
into which such Award LTIP Units converted in connection with the Change in Control, as determined by the parties to such Change in Control) to the extent they have not otherwise cancelled or forfeited, shall immediately vest and the date of the
vesting shall be the “Vesting Date.” Any Award LTIP Units that vest pursuant to this paragraph (a) shall be paid in accordance with the terms and conditions of this Agreement and the terms and conditions of the Plan. 

(b)    For purposes of this Section 11, the Grantee’s Termination Date shall be deemed to have occurred on
account of termination by the Company or its successor (or a Related Company) for reasons other than for Cause if the Grantee terminates employment after, absent the written consent of the Grantee, (i) a substantial adverse alteration in the
nature of the Grantee’s status or responsibilities from those in effect immediately prior to the Change in Control, or (ii) a material reduction in the Grantee’s annual base salary and target bonus, if any, as in effect immediately
prior to the Change in Control. In any event, if, upon a Change in Control, awards in other shares or securities are substituted for outstanding Awards pursuant to Section 4 of the Plan (or a successor provision), and immediately following the
Change in Control, the Grantee becomes employed by the entity into which the Company merged, or the purchaser of substantially all of the assets of the Company, or a successor to such entity or purchaser, the Grantee shall not be treated as having
terminated employment for purposes of this Section 11 until such time as the Grantee ceases to be an employee and/or ceases to provide services to the merged entity or purchaser (or successor), as applicable. 

(c)    Notwithstanding the foregoing, unless otherwise provided in the Plan or by the Company in its discretion, the Award
LTIP Units and the benefits evidenced by this Agreement do not create any entitlement to have the Award LTIP Units or any such benefits transferred to, or assumed by, another company nor to be exchanged, cashed out or substituted for, in connection
with any corporate transaction affecting the Stock or the equity securities of the Partnership. 

  
 7 

 12.    Complete Agreement. This Agreement (together with
those agreements and documents expressly referred to herein, for the purposes referred to herein) embody the complete and entire agreement and understanding between the parties with respect to the subject matter hereof, and supersede any and all
prior promises, assurances, commitments, agreements, undertakings or representations, whether oral, written, electronic or otherwise, and whether express or implied, which may relate to the subject matter hereof in any way. 

13.    Investment Representation; Registration. The Grantee hereby makes the covenants, representations and
warranties set forth on Exhibit C attached hereto as of the Grant Effective Date. All of such covenants, warranties and representations shall survive the execution and delivery of this Agreement by the Grantee. The Grantee shall immediately
notify the Partnership upon discovering that any of the representations or warranties set forth on Exhibit C was false when made or have, as a result of changes in circumstances, become false. The Partnership will have no obligation to
register under the Securities Act any of the Award LTIP Units or any other securities issued pursuant to this Agreement or upon conversion or exchange of the Award LTIP Units into other limited partnership interests of the Partnership or shares of
Stock. 
 14.    No Obligation to Continue Employment or Other Service Relationship. Neither the Company
nor any Related Company is obligated by or as a result of the Plan, [the Promote Plan] or this Agreement to continue to have the Grantee provide services to it or to continue the Grantee in employment and neither the Plan, the Promote Plan nor this
Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate its service relationship with the Grantee or the employment of the Grantee at any time. 

15.    No Limit on Other Compensation Arrangements. Nothing contained in this Agreement shall preclude the
Company from adopting or continuing in effect other or additional compensation plans, agreements or arrangements, and any such plans, agreements and arrangements may be either generally applicable or applicable only in specific cases or to specific
persons. 
 16.    Status of Award LTIP Units under the Plan. The Award LTIP Units are both issued as
equity securities of the Partnership and granted as a “Full Value Award” under the Plan. The Company will have the right at its option, as set forth in the Partnership Agreement, to issue shares of Stock in exchange for partnership units
into which Award LTIP Units may have been converted pursuant to the Partnership Agreement, subject to certain limitations set forth in the Partnership Agreement, and such Stock, if issued, will be issued under the Plan. The Grantee acknowledges that
the Grantee will have no right to approve or disapprove such election by the Company. 

17.    Severability. If any term or provision of this Agreement is or becomes or is deemed to be invalid,
illegal or unenforceable in any jurisdiction or under any applicable law, rule or regulation, then such provision shall be construed or deemed amended to conform to applicable law (or if such provision cannot be so construed or deemed amended
without materially altering the purpose or intent of this Agreement and the grant of Award LTIP Units hereunder, such provision shall be stricken as to such jurisdiction and the remainder of this Agreement and the award hereunder shall remain in
full force and effect). 

  
 8 

 18.    Section 409A. If any compensation provided by this
Agreement may result in the application of Section 409A of the Code, the Company shall, in consultation with the Grantee, modify the Agreement in the least restrictive manner necessary in order to, where applicable, (i) exclude such
compensation from the definition of “deferred compensation” within the meaning of such Section 409A or (ii) comply with the provisions of Section 409A, other applicable provision(s) of the Code and/or any rules, regulations
or other regulatory guidance issued under such statutory provisions and to make such modifications, in each case, without any diminution in the value of the benefits granted hereby to the Grantee. 

19.    Law Governing. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF DELAWARE, WITHOUT REGARD TO ANY PRINCIPLES OF CONFLICTS OF LAW WHICH COULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF MARYLAND. 

20.    Headings. Section, paragraph and other headings and captions are provided solely as a convenience to
facilitate reference. Such headings and captions shall not be deemed in any way material or relevant to the construction, meaning or interpretation of this Agreement or any term or provision hereof. 

21.    Notices. Notices hereunder shall be mailed or delivered to the Partnership at its principal place of
business and shall be mailed or delivered to the Grantee at the address on file with the Partnership or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

22.    Counterparts. This Agreement may be executed in two or more separate counterparts, each of which
shall be an original, and all of which together shall constitute one and the same agreement. 
 23.    Successors
and Assigns. The rights and obligations created hereunder shall be binding on the Grantee and his heirs and legal representatives and on the successors and assigns of the Partnership. 

24.    Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or
structure future equity grants, the Company and its agents may process any and all personal or professional data, including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other
information that is necessary or desirable for the administration of the Plan and/or this Agreement. 
 [Signature Page Follows] 

  
 9 

 IN WITNESS WHEREOF, the undersigned have caused this Award to be executed on the
[    ] day of [            ], 20    . 

 

			
	PROLOGIS, INC.

  

			
	By:	 	  

		 	Name:
		 	Title:

  

			
	PROLOGIS, L.P.
	
	By: PROLOGIS, INC.,
	Its General Partner

  

			
	By:	 	  

		 	Name:
		 	Title:

 
			
		
	Grantee	 	
	
	  

	Name:	 	
		
	Address:	 	

  
 10 

 EXHIBIT A 

FORM OF LIMITED PARTNER SIGNATURE PAGE 

The Grantee, desiring to become one of the within named Limited Partners of Prologis, L.P., hereby becomes a party to the Thirteenth Amended
and Restated Agreement of Limited Partnership of Prologis, L.P., as amended through the date hereof (the “Partnership Agreement”). 

The Grantee constitutes and appoints the General Partner, any Liquidator, and authorized officers and attorneys-in-fact of each, and each of those acting singly, in each case with full power of substitution, as the Grantee’s true and lawful agent and attorney-in-fact, with full power and authority in the Grantee’s name, place and stead to carry out all acts described in Section 2.4.A(i) and (ii) of the Partnership Agreement, such power of
attorney to be irrevocable and a power coupled with an interest pursuant to Section 2.4.B of the Partnership Agreement. 
 The Grantee
agrees that this signature page may be attached to any counterpart of the Partnership Agreement. 
  

	
	Signature Line for Grantee:
	
	  

	Name:
                                    
	Date:
                                     
	
	Address of Grantee:
	
	  

 EXHIBIT B 

ELECTION TO INCLUDE IN GROSS INCOME IN YEAR OF 

TRANSFER OF PROPERTY PURSUANT TO SECTION 83(B) 

OF THE INTERNAL REVENUE CODE 
 The
undersigned hereby makes an election pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, and Treasury Regulations Section 1.83-2 promulgated thereunder to include in gross
income as compensation for services the excess (if any) of the fair market value of the property described below over the amount paid for such property. 
  

					
	      	 	1.	  	The name, address and taxpayer identification number of the undersigned are:
			
		 		  	Name:     (the “Taxpayer”)
			
		 		  	Address:
			
		 		  	Social Security No./Taxpayer Identification No.:
			
		 		  	Taxable Year: Calendar Year 20[        ].
			
		 	2.	  	Description of property with respect to which the election is being made:
			
		 		  	The election is being made with respect to [     ] LTIP Units in Prologis, L.P. (the “Partnership”).
			
		 	3.	  	The date on which the LTIP Units were transferred is [            ]. The taxable year to which this election relates is calendar year 20
[        ].
			
		 	4.	  	Nature of restrictions to which the LTIP Units are subject:
			
		 		  	 (a)   With limited exceptions, until the LTIP Units vest, the Taxpayer may not
transfer in any manner any portion of the LTIP Units without the consent of the Partnership.

			
		 		  	 (b)   The Taxpayer’s LTIP Units are subject to risk of forfeiture upon
termination of the Taxpayer’s service relationship prior to vesting.

			
		 	5.	  	The fair market value at time of transfer (determined without regard to any restrictions other than a nonlapse restriction as defined in Treasury Regulations Section 1.83-3(h)) of the of
the LTIP Units with respect to which this election is being made was $0.01 per LTIP Unit.
			
		 	6.	  	The amount paid by the Taxpayer for the LTIP Units was $0.01 per LTIP Unit.
			
		 	7.	  	The amount to include in gross income is $0.

 The undersigned taxpayer will file this election with the Internal Revenue Service office with which
taxpayer files his or her annual income tax return not later than 30 days after the date of transfer of the property. A copy of the election also will be furnished to the person for whom the services were performed. The undersigned is the person
performing the services in connection with which the property was transferred. 
 Dated:
[            ], 201[    ] 
  

	
	  

	Name:

 EXHIBIT C 

GRANTEE’S COVENANTS, REPRESENTATIONS AND WARRANTIES 

The Grantee hereby represents, warrants and covenants as follows: 

(a)    The Grantee has received and had an opportunity to review the following documents (the “Background
Documents”): 
 (i)    The latest Annual Report to Stockholders that has been provided to
stockholders; 
 (ii)    The Company’s Proxy Statement for its most recent Annual Meeting of
Stockholders; 
 (iii)    The Company’s Report on Form 10-K
for the fiscal year most recently ended; 
 (iv)    The Company’s Form 10-Q for the most recently ended quarter if one has been filed by the Company with the Securities and Exchange Commission since the filing of the Form 10-K described in clause
(iv) above; 
 (v)    Each of the Company’s Current Report(s) on Form 8-K, if any, filed since the later of the end of the fiscal year most recently ended for which a Form 10-K has been filed by the Company; 

(vi)    The Thirteenth Amended and Restated Agreement of Limited Partnership of Prologis, L.P., as then
amended; 
 (vii)    The Company’s 2020 Long-Term Incentive Plan; 

(viii)    [The Company’s Promote Plan]; and 

(ix)    The Company’s Articles of Incorporation, as then amended. 

The Grantee also acknowledges that any delivery of the Background Documents and other information relating to the Company and the Partnership
prior to the determination by the Partnership of the suitability of the Grantee as a holder of Award LTIP Units shall not constitute an offer of Award LTIP Units until such determination of suitability shall be made. 

(b)    The Grantee hereby represents and warrants that 

(i)    The Grantee either (A) is an “accredited investor” as defined in Rule 501(a) under
the Securities Act, or (B) by reason of the business and financial experience of the Grantee, together with the business and financial experience of those persons, if any, retained by the Grantee to represent or advise him or her with respect
to 

 
the grant to him or her of LTIP Units, the potential conversion of LTIP Units into common units of the Partnership (“Common Units”) and the potential redemption of such Common
Units for shares of Stock (“Shares”), has such knowledge, sophistication and experience in financial and business matters and in making investment decisions of this type that the Grantee (I) is capable of evaluating the merits
and risks of an investment in the Partnership and potential investment in the Company and of making an informed investment decision, (II) is capable of protecting his or her own interest or has engaged representatives or advisors to assist him
or her in protecting his or her interests, and (III) is capable of bearing the economic risk of such investment. 

(ii)    The Grantee understands that (A) the Grantee is responsible for consulting his or her own tax
advisors with respect to the application of the U.S. federal income tax laws, and the tax laws of any state, local or other taxing jurisdiction to which the Grantee is or by reason of the award of LTIP Units may become subject, to his or her
particular situation; (B) the Grantee has not received or relied upon business or tax advice from the Company, the Partnership or any of their respective employees, agents, consultants or advisors, in their capacity as such; (C) the
Grantee provides or will provide services to the Partnership on a regular basis and in such capacity has access to such information, and has such experience of and involvement in the business and operations of the Partnership, as the Grantee
believes to be necessary and appropriate to make an informed decision to accept this Award of LTIP Units; and (D) an investment in the Partnership and/or the Company involves substantial risks. The Grantee has been given the opportunity to make
a thorough investigation of matters relevant to the LTIP Units and has been furnished with, and has reviewed and understands, materials relating to the Partnership and the Company and their respective activities (including, but not limited to, the
Background Documents). The Grantee has been afforded the opportunity to obtain any additional information (including any exhibits to the Background Documents) deemed necessary by the Grantee to verify the accuracy of information conveyed to the
Grantee. The Grantee confirms that all documents, records, and books pertaining to his or her receipt of LTIP Units which were requested by the Grantee have been made available or delivered to the Grantee. The Grantee has had an opportunity to ask
questions of and receive answers from the Partnership and the Company, or from a person or persons acting on their behalf, concerning the terms and conditions of the LTIP Units. The Grantee has relied upon, and is making its decision solely upon,
the Background Documents and other written information provided to the Grantee by the Partnership or the Company. The Grantee did not receive any tax, legal or financial advice from the Partnership or the Company and, to the extent it deemed
necessary, has consulted with its own advisors in connection with its evaluation of the Background Documents and this Agreement and the Grantee’s receipt of LTIP Units. 

(iii)    The LTIP Units to be issued, the Common Units issuable upon conversion of the LTIP Units and any
Shares issued in connection with the redemption of any such Common Units will be acquired for the account of the Grantee for investment only and not with a current view to, or with any intention of, a distribution or resale thereof, in whole or in
part, or the grant of any participation therein, without prejudice, however, to the Grantee’s right (subject to the terms of the LTIP Units, the Plan[, the Promote Plan] and this Agreement) at all times to sell or otherwise dispose of all or
any 

 
part of his or her LTIP Units, Common Units or Shares in compliance with the Securities Act, and applicable state securities laws, and subject, nevertheless, to the disposition of his or her
assets being at all times within his or her control. 
 (iv) The Grantee acknowledges that (A) neither the LTIP Units to
be issued, nor the Common Units issuable upon conversion of the LTIP Units, have been registered under the Securities Act or state securities laws by reason of a specific exemption or exemptions from registration under the Securities Act and
applicable state securities laws and, if such LTIP Units or Common Units are represented by certificates, such certificates will bear a legend to such effect, (B) the reliance by the Partnership and the Company on such exemptions is predicated
in part on the accuracy and completeness of the representations and warranties of the Grantee contained herein, (C) such LTIP Units, or Common Units, therefore, cannot be resold unless registered under the Securities Act and applicable state
securities laws, or unless an exemption from registration is available, (D) there is no public market for such LTIP Units and Common Units and (E) neither the Partnership nor the Company has any obligation or intention to register such
LTIP Units or the Common Units issuable upon conversion of the LTIP Units under the Securities Act or any state securities laws or to take any action that would make available any exemption from the registration requirements of such laws, except,
that, upon the redemption of the Common Units for Shares, the Company currently intends to issue such Shares under the Plan and pursuant to a Registration Statement on Form S-8 under the Securities Act, to the
extent that (I) the Grantee is eligible to receive such Shares under the Plan at the time of such issuance and (II) the Company has filed an effective Form S-8 Registration Statement with the
Securities and Exchange Commission registering the issuance of such Shares. The Grantee hereby acknowledges that because of the restrictions on transfer or assignment of such LTIP Units acquired hereby and the Common Units issuable upon conversion
of the LTIP Units which are set forth in the Partnership Agreement and this Agreement, the Grantee may have to bear the economic risk of his or her ownership of the LTIP Units acquired hereby and the Common Units issuable upon conversion of the LTIP
Units for an indefinite period of time. 
 (v) The Grantee has determined that the LTIP Units are a suitable investment for
the Grantee. 
 (vi) No representations or warranties have been made to the Grantee by the Partnership or the Company, or any
officer, director, shareholder, agent, or affiliate of any of them, and the Grantee has received no information relating to an investment in the Partnership or the LTIP Units except the information specified in this Paragraph (b). 

(c)    So long as the Grantee holds any LTIP Units, the Grantee shall disclose to the Partnership in writing such
information as may be reasonably requested with respect to ownership of LTIP Units as the Partnership may deem reasonably necessary to ascertain and to establish compliance with provisions of the Code, applicable to the Partnership or to comply with
requirements of any other appropriate taxing authority. 
 (d)    The Grantee hereby agrees to make an election under
Section 83(b) of the Code with respect to the LTIP Units awarded hereunder, and has delivered with this Agreement a 

 
completed, executed copy of the election form attached to this Agreement as Exhibit B. The Grantee agrees to file the election (or to permit the Partnership to file such election on the
Grantee’s behalf) within thirty (30) days after the Award of the LTIP Units hereunder with the IRS Service Center at which such Grantee files his or her personal income tax returns. 

(e)    The address set forth on the signature page of this Agreement is the address of the Grantee’s principal
residence, and the Grantee has no present intention of becoming a resident of any country, state or jurisdiction other than the country and state in which such residence is sited. 

(f)    The representations of the Grantee as set forth above are true and complete to the best of the information and
belief of the Grantee, and the Partnership shall be notified promptly of any changes in the foregoing representations.

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