Document:

Caremark Rx Inc. Deferred Compensation Plan

 Exhibit 10.19 
 Caremark Rx, Inc. 
 Deferred Compensation Plan 

 TABLE OF CONTENTS 
 Effective April 1, 2005 
  

			
	  	  	Page
	 ARTICLE 1 Definitions
	  	1
		
	 ARTICLE 2 Selection, Enrollment, Eligibility
	  	4
	 2.1 Selection by Committee
	  	4
	 2.2 Enrollment and Eligibility Requirements; Commencement of Participation
	  	4
	 2.3 Termination of a Participant’s Eligibility
	  	5
		
	 ARTICLE 3 Deferral Commitments /Crediting/Taxes
	  	5
	 3.1 Deferral Rules
	  	5
	 3.2 Election to Defer; Effect of Election Form
	  	6
	 3.3 Withholding and Crediting of Annual Deferral Amounts
	  	6
	 3.4 Crediting of Amounts after Benefit Distribution
	  	6
	 3.5 Vesting
	  	6
	 3.6 Crediting/Debiting of Deferral Accounts
	  	7
	 3.7 FICA and Other Taxes
	  	8
		
	 ARTICLE 4 Scheduled Distribution; Unforeseeable Financial Emergencies
	  	8
	 4.1 Scheduled Distribution
	  	8
	 4.2 Postponing Scheduled Distributions
	  	8
	 4.3 Other Benefits Take Precedence Over Scheduled Distributions
	  	8
	 4.4 Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies
	  	9
		
	 ARTICLE 5 Retirement Benefit
	  	9
	 5.1 Retirement Benefit
	  	9
	 5.2 Payment of Retirement Benefit
	  	9
		
	 ARTICLE 6 Termination Benefit
	  	10
	 6.1 Termination Benefit
	  	10
	 6.2 Payment of Termination Benefit
	  	10
	 6.3 Change in Control
	  	11
		
	 ARTICLE 7 Disability Benefit
	  	11
	 7.1 Disability Benefit
	  	11
	 7.2 Payment of Disability Benefit
	  	11
		
	 ARTICLE 8 Death Benefit
	  	12
	 8.1 Death Benefit
	  	12
	 8.2 Payment of Death Benefit
	  	12
		
	 ARTICLE 9 Beneficiary Designation
	  	12
	 9.1 Beneficiary
	  	12
	 9.2 Beneficiary Designation; Change; Spousal Consent
	  	12
	 9.3 Acknowledgment
	  	12
	 9.4 No Beneficiary Designation
	  	12
	 9.5 Doubt as to Beneficiary
	  	12
	 9.6 Discharge of Obligations
	  	12
		
	 ARTICLE 10 Leave of Absence
	  	13
	 10.1 Paid Leave of Absence
	  	13
	 10.2 Unpaid Leave of Absence
	  	13

  

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	  	  	Page
	 ARTICLE 11 Termination of Plan, Amendment or Modification
	  	13
	 11.1 Termination of Plan
	  	13
	 11.2 Amendment
	  	13
	 11.3 Plan Agreement
	  	14
	 11.4 Effect of Payment
	  	14
		
	 ARTICLE 12 Administration
	  	14
	 12.1 Committee Duties
	  	14
	 12.2 Agents
	  	14
	 12.3 Binding Effect of Decisions
	  	14
	 12.4 Indemnity of Committee
	  	14
	 12.5 Employer Information
	  	14
		
	 ARTICLE 13 Other Benefits and Agreements
	  	14
		
	 ARTICLE 14 Claims Procedures
	  	15
	 14.1 Presentation of Claim
	  	15
	 14.2 Notification of Decision
	  	15
	 14.3 Review of a Denied Claim
	  	15
	 14.4 Decision on Review
	  	15
	 14.5 Legal Action
	  	16
		
	 ARTICLE 15 Trust
	  	16
	 15.1 Establishment of the Trust
	  	16
	 15.2 Interrelationship of the Plan and the Trust
	  	16
	 15.3 Distributions From the Trust
	  	16
		
	 ARTICLE 16 Miscellaneous
	  	16
	 16.1 Status of Plan
	  	16
	 16.2 Unsecured General Creditor
	  	16
	 16.3 Employer’s Liability
	  	17
	 16.4 Nonassignability
	  	17
	 16.5 Not a Contract of Employment
	  	17
	 16.6 Terms
	  	17
	 16.7 Captions
	  	17
	 16.8 Governing Law
	  	17
	 16.9 Notice
	  	17
	 16.10 Successors
	  	18
	 16.11 Validity
	  	18
	 16.12 Incompetent
	  	18
	 16.13 Court Order
	  	18
	 16.14 Deduction Limitation on Benefit Payments
	  	18

  

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 CAREMARK RX, INC. 
 DEFERRED COMPENSATION PLAN 
 Effective April 1, 2005 
 Purpose 
 The purpose of this Plan is to provide specified benefits to
a select group of management or highly compensated Employees who contribute materially to the continued growth, development and future business success of Caremark Rx, Inc., a Delaware corporation, and its subsidiaries, if any, that sponsor this
Plan. This Plan shall be unfunded for tax purposes and for purposes of Title I of ERISA. The Plan is effective as of April 1, 2005. 
 ARTICLE 1 
 Definitions 
 For the
purposes of this Plan, unless otherwise clearly apparent from the context, the following phrases or terms shall have the indicated meanings: 
 “Annual Deferral Amount” shall mean that portion of a Participant’s Base Salary and/or Bonus, that a Participant defers in accordance with Article 3 for any one Plan Year, without regard to whether such amounts are
withheld and credited during such Plan Year. In the event of a Participant’s Retirement, Disability, death or Termination of Employment prior to the end of a Plan Year, such year’s Annual Deferral Amount shall be the actual amount withheld
prior to such event. 
 “Annual Installment Method” shall be an annual installment payment over the number of years selected by the
Participant in accordance with this Plan, calculated as follows: (i) for the first annual installment, the Participant’s Deferral Account shall be valued as of the close of business on or around the Participant’s Benefit Distribution
Date, as determined by the Committee in its sole discretion, and (ii) for remaining annual installments, the Participant’s Deferred Account shall be valued on every anniversary of such calculation date, as applicable. Each annual
installment shall be calculated by multiplying this balance by a fraction, the numerator of which is one and the denominator of which is the remaining number of annual payments due the Participant. 
 “Base Salary” shall mean the annual cash compensation relating to services performed during any calendar year, including commissions payments,
but excluding distributions from nonqualified deferred compensation plans, bonuses, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, director fees and other fees, and automobile and other
allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee’s gross income). Base Salary shall be calculated before reduction for compensation voluntarily deferred or
contributed by the Participant pursuant to all qualified or nonqualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125 or 402(e)(3) pursuant to
plans established by any Employer; provided, that all such amounts will be included in compensation only to the extent that had there been no such plan, the amount would have been payable in cash to the Employee. 
 “Beneficiary” shall mean one or more persons, trusts, estates or other entities, designated in accordance with Article 9, that are entitled
to receive benefits under this Plan upon the death of a Participant. 
  

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 “Beneficiary Designation Form” shall mean the form established from time to time by the
Committee that a Participant completes, signs and returns to the Committee to designate one or more Beneficiaries. 
 “Benefit
Distribution Date” shall mean the date that triggers distribution of a Participant’s Deferral Account. A Participant’s Benefit Distribution Date shall be determined upon the occurrence of any one of the following: 
 If the Participant Retires, his or her Benefit Distribution Date shall be (i) the last day of the six-month period immediately following the date on
which the Participant Retires if the Participant is a Key Employee, and (ii) for all other Participants, the last business day of the Plan Year in which the Participant Retires; provided, in the event the Participant changes his or her
Retirement Benefit election in accordance with Section 5.2(a), his or her Benefit Distribution Date shall be no sooner than the five (5) year anniversary of the otherwise applicable Benefit Distribution Date; 
 If the Participant experiences a Termination of Employment, his or her Benefit Distribution Date shall be (i) the last day of the six-month period
immediately following the date on which the Participant experiences a Termination of Employment if the Participant is a Key Employee, and (ii) for all other Participants, the last business day of the Plan Year in which the Participant
experiences a Termination of Employment; provided, in the event the Participant changes his or her Termination Benefit election in accordance with Section 6.2(a), his or her Benefit Distribution Date shall be no sooner than the five
(5) year anniversary of the otherwise applicable Benefit Distribution Date; 
 The date on which the Committee is provided with proof that is
satisfactory to the Committee of the Participant’s death, if the Participant dies prior to the complete distribution of his or her Deferral Account; or 
 The date on which the Participant becomes Disabled. 
 “Board” shall mean the board of directors of the Company.

 “Bonus” shall mean any compensation earned by a Participant for services rendered with respect to any Plan Year under any
Employer’s annual bonus and cash incentive plans. 
 “Change in Control” shall mean any change in the ownership or effective
control of the Company that qualifies as a “change in control” under the provisions of Section 409A(a)(2)(A)(v) of the Code, as amended. 
 “Claimant” shall have the meaning set forth in Section 14.1. 
 “Code” shall mean the
Internal Revenue Code of 1986, as amended from time to time. 
 “Committee” shall mean the committee described in
Article ARTICLE 12. 
 “Company” shall mean Caremark Rx, Inc., a Delaware corporation, and any corporate successor thereto.

 “Death Benefit” shall mean the benefit set forth in Article 8. 
 “Deferral Account” shall mean (i) the sum of all of a Participant’s Annual Deferral Amounts, plus (ii) amounts credited or
debited to the Participant’s Deferral Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to his or her Deferral Account. The Deferral
Account shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan. 
 “Disability” or “Disabled” shall mean that a Participant is (i) unable to engage in any substantial gainful activity by reason of
any medically determinable physical or mental 

  

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impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) by reason of
any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3
months under an accident or health plan covering employees of the Participant’s Employer. 
 “Disability Benefit” shall mean
the benefit set forth in Article 7. 
 “Election Form” shall mean the form established from time to time by the Committee that
a Participant completes, signs and returns to the Committee to make an election under the Plan. 
 “Employee” shall mean a person
who is a common law employee of any Employer. 
 “Employer(s)” shall mean the Company and/or any of its subsidiaries (now in
existence or hereafter formed or acquired) that have been selected by the Board to participate in the Plan and have adopted the Plan as a sponsor. 
 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as it may be amended from time to time. 
 “Key Employee” shall mean any Participant who the Committee, in its sole discretion, determines is a “key employee” of any Employer, as defined in Code Section 416(i). “Participant” shall mean any Employee
(i) who is selected to participate in the Plan, (ii) who submits an executed Plan Agreement, Election Form and Beneficiary Designation Form, which are accepted by the Committee, and (iii) whose Plan Agreement has not terminated.

 “Plan” shall mean the Caremark Rx, Inc. Deferred Compensation Plan, which shall be evidenced by this instrument and by each Plan
Agreement, as they may be amended from time to time. 
 “Plan Agreement” shall mean a written agreement, as may be amended from time
to time, which is entered into by and between an Employer and a Participant. Each Plan Agreement executed by a Participant and the Participant’s Employer shall provide for the entire benefit to which such Participant is entitled under the Plan;
should there be more than one Plan Agreement, the Plan Agreement bearing the latest date of acceptance by the Employer shall supersede all previous Plan Agreements in their entirety and shall govern such entitlement. The terms of any Plan Agreement
may be different for any Participant, and any Plan Agreement may provide additional benefits not set forth in the Plan or limit the benefits otherwise provided under the Plan; provided, that any such additional benefits or benefit limitations must
be agreed to by both the Employer and the Participant. 
 “Plan Year” shall mean a period beginning on January 1 of each
calendar year and continuing through December 31 of such calendar year; provided, that the first Plan Year shall consist only of the period beginning on April 1, 2005 and ending on December 31, 2005. 
 “Retirement”, “Retire(s)” or “Retired” shall mean, with respect to an Employee, separation from service with all Employers
for any reason other than a leave of absence, death or Disability on or after the earlier of the attainment age sixty-five (65). 
 “Retirement Benefit” shall mean the benefit set forth in Article 5. 
 “Scheduled Distribution” shall mean
the distribution set forth in Section 4.1. 
  

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 “Terminate the Plan”, “Termination of the Plan” shall mean a determination by an
Employer’s board of directors that (i) all of its Participants no longer shall be eligible to participate in the Plan, (ii) all deferral elections for such Participants shall terminate, and (iii) such Participants no longer shall
be eligible to receive company contributions under this Plan. 
 “Termination Benefit” shall mean the benefit set forth in
Article 6. 
 “Termination of Employment” shall mean the separation from service with all Employers, voluntarily or
involuntarily, for any reason other than Retirement, Disability, death or an authorized leave of absence. 
 “Trust” shall mean one
or more trusts established by the Company in accordance with Article 15. 
 “Unforeseeable Financial Emergency” shall mean an
unanticipated emergency that is caused by an event beyond the control of the Participant that would result in severe financial hardship to the Participant resulting from (i) a sudden and unexpected illness or accident of the Participant, the
Participant’s spouse, or a dependent of the Participant, (ii) a loss of the Participant’s property due to casualty, or (iii) such other similar extraordinary and unforeseeable circumstances arising as a result of events beyond
the control of the Participant, all as determined in the sole discretion of the Committee. 
 ARTICLE 2 
 Selection, Enrollment, Eligibility 
 2.1 Selection by
Committee. Participation in the Plan shall be limited to a select group of management or highly compensated Employees selected as eligible to participate in the Plan, as determined by the Committee in its sole discretion. 
 2.2 Enrollment and Eligibility Requirements; Commencement of Participation. 
 As a condition to participation, each selected Employee who is eligible to participate in the Plan effective as of the first day of a Plan Year shall complete, execute and return to the Committee a Plan Agreement, an Election Form and a
Beneficiary Designation Form, prior to the first day of such Plan Year, or such other deadline as may be established by the Committee in its sole discretion as permitted by applicable law. In addition, the Committee shall establish from time to time
such other enrollment requirements as it determines, in its sole discretion, are necessary. 
 A selected Employee who first becomes eligible to participate
in this Plan after the first day of a Plan Year must complete these requirements within thirty (30) days after he or she first becomes eligible to participate in the Plan, or within such other deadline as may be established by the Committee, in
its sole discretion, as permitted by applicable law, in order to participate for that Plan Year. In such event, such person’s participation in this Plan shall not commence earlier than the date determined by the Committee pursuant to this
Section 2.2(b) and such person shall not be permitted to defer under this Plan any portion of his or her Base Salary and/or Bonus that are paid with respect to services performed prior to his or her participation commencement date. 

Each selected Employee who is eligible to participate in the Plan shall commence participation in the Plan on the date that the Committee determines, in its sole
discretion, that the Employee has met all enrollment requirements set forth in this Plan and required by the Committee, including returning all required documents to the Committee within the specified time period. Notwithstanding the foregoing, the
Committee shall process such Participant’s deferral election as soon as administratively practicable after such deferral election is submitted to and accepted by the Committee. 
  

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 If an Employee fails to meet all requirements contained in this Section 2.2 within the period required, that
Employee shall not be eligible to participate in the Plan during such Plan Year. 
 2.3 Termination of a Participant’s Eligibility. If the
Committee determines that a Participant no longer qualifies as a member of a select group of management or highly compensated employees, as membership in such group is determined in accordance with Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA,
the Committee shall have the right, in its sole discretion, to (i) terminate any deferral election the Participant has made for the remainder of the Plan Year in which the Committee makes such determination, (ii) prevent the Participant
from making future deferral elections, and/or (iii) take further action that the Committee deems appropriate. Notwithstanding the foregoing, in the event of a Termination of the Plan in accordance with Section 1.30, the termination of the
affected Participants’ eligibility for participation in the Plan shall not be governed by this Section 2.3, but rather shall be governed by Section 1.30 and Section 11.1. In the event that a Participant no longer is eligible to
defer compensation under this Plan, the Participant’s Deferral Account shall continue to be governed by the terms of this Plan until such time as the Participant’s Deferral Account is paid in accordance with the terms of this Plan.

 ARTICLE 3 
 Deferral Commitments
/Crediting/Taxes 
 3.1 Deferral Rules. 
 Annual
Deferral Amount. For each Plan Year, a Participant may elect to defer, as his or her Annual Deferral Amount, Base Salary and/or Bonus, provided that the minimum percentage of Base Salary or Bonus that can be deferred in any calendar year shall
be five percent (5%). The Committee shall establish procedures that govern deferral elections under the Plan, including the ability to make separate deferral elections for Base Salary, or any portion thereof, and for Bonuses. If the Committee
determines, in its sole discretion, prior to the beginning of a Plan Year that a Participant has made an election for less than the stated minimum amounts, or if no election is made, the amount deferred shall be zero. If the Committee determines, in
its sole discretion, at any time after the beginning of a Plan Year that a Participant has deferred less than the stated minimum amounts for that Plan Year, any amount credited to the Participant’s Deferral Account as the Annual Deferral Amount
for that Plan Year shall be distributed to the Participant within ninety (90) days after the last day of the Plan Year in which the Committee determination was made. Each Participant may elect to defer a maximum percentage of his or her Base
Salary equal to seventy five percent (75%) and a maximum percentage of his or her Bonus equal to one hundred percent (100%). Notwithstanding any provisions of the Plan to the contrary, no deferrals of Base Salary may be made under the Plan
until the Committee takes action to authorize the commencement of such deferrals. 
 Short Plan Year. Notwithstanding the foregoing, and unless the
Committee elects to waive this provision, if a Participant first becomes a Participant after the first day of a Plan Year, the minimum Annual Deferral Amount shall be an amount equal to the minimum set forth above, multiplied by a fraction, the
numerator of which is the number of complete months remaining in the Plan Year and the denominator of which is 12. In 

  

 5 

 
addition, if a Participant first becomes a Participant after the first day of a Plan Year, the maximum Annual Deferral Amount shall be limited to the amount
of compensation not yet earned by the Participant as of the date the Participant submits a Plan Agreement and Election Form to the Committee for acceptance. 
 3.2 Election to Defer; Effect of Election Form. 
 First Plan Year. In connection with a Participant’s commencement of
participation in the Plan, the Participant shall make an irrevocable deferral election for the Plan Year in which the Participant commences participation in the Plan, along with such other elections as the Committee deems necessary or desirable
under the Plan. For these elections to be valid, the Election Form must be completed and signed by the Participant, timely delivered to the Committee (in accordance with Section 2.2 above) and accepted by the Committee. 
 Subsequent Plan Years. For each succeeding Plan Year, an irrevocable deferral election for that Plan Year, and such other elections as the Committee deems
necessary or desirable under the Plan, shall be made by timely delivering a new Election Form to the Committee, in accordance with its rules and procedures, before the end of the Plan Year preceding the Plan Year for which the election is made. If
no such Election Form is timely delivered for a Plan Year, the Annual Deferral Amount shall be zero for that Plan Year. 
 Performance-Based
Compensation. Notwithstanding the foregoing, the Committee may, in its sole discretion, determine that an irrevocable deferral election pertaining to performance-based compensation may be made by timely delivering a new Election Form to the
Committee, in accordance with its rules and procedures, no later than six (6) months before the end of the performance service period. “Performance-based compensation” shall be compensation based on services performed over a period of
at least twelve (12) months, in accordance with Code Section 409A and related guidance. 
 3.3 Withholding and Crediting of Annual Deferral
Amounts. For each Plan Year, the Base Salary portion of the Annual Deferral Amount shall be withheld from each regularly scheduled Base Salary payroll in equal amounts, as adjusted from time to time for increases and decreases in Base Salary.
The Bonus portion of the Annual Deferral Amount shall be withheld at the time the Bonus, is or otherwise would be paid to the Participant, whether or not this occurs during the Plan Year itself. Annual Deferral Amounts shall be credited to a
Participant’s Deferral Account at the time such amounts otherwise would have been paid to the Participant. 
 3.4 Crediting of Amounts after Benefit
Distribution. Notwithstanding any provision in this Plan to the contrary, should the complete distribution of a Participant’s Deferral Account occur prior to the date on which any portion of the Annual Deferral Amount that a Participant has
elected to defer in accordance with Section 3.2 otherwise would be credited to the Participant’s Deferral Account, such amounts shall not be credited to the Participant’s Deferral Account, but shall be paid to the Participant in a
manner determined by the Committee, in its sole discretion. 
 3.5 Vesting. A Participant shall at all times be 100% vested in his or her Deferral
Account. 
  

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 3.6 Crediting/Debiting of Deferral Accounts. In accordance with, and subject to, the rules and procedures that are
established from time to time by the Committee, in its sole discretion, amounts shall be credited or debited to a Participant’s Deferral Account in accordance with the following rules: 
 Measurement Funds. The Participant may elect one or more of the measurement funds selected by the Committee, in its sole discretion, which are
based on certain mutual funds (the “Measurement Funds”), for the purpose of crediting or debiting additional amounts to his or her Deferral Account. As necessary, the Committee may, in its sole discretion, discontinue, substitute or add a
Measurement Fund. Each such action will take effect as of the first day of the first calendar quarter that begins at least thirty (30) days after the day on which the Committee gives Participants advance written notice of such change.

 Election of Measurement Funds. A Participant, in connection with his or her initial deferral election in accordance with
Section 3.2(a) above, shall elect, on the Election Form, one or more Measurement Fund(s) (as described in Section 3.6(a) above) to be used to determine the amounts to be credited or debited to his or her Deferral Account. If a Participant
does not elect any of the Measurement Funds as described in the previous sentence, the Participant’s Deferral Account automatically shall be allocated into the lowest-risk Measurement Fund, as determined by the Committee, in its sole
discretion. 
 The Participant may (but is not required to) elect, by submitting an Election Form to the Committee that is accepted by the
Committee, to add or delete one or more Measurement Fund(s) to be used to determine the amounts to be credited or debited to his or her Deferral Account, or to change the portion of his or her Deferral Account allocated to each previously or newly
elected Measurement Fund. If an election is made in accordance with the previous sentence, it shall apply as of the first business day deemed reasonably practicable by the Committee, in its sole discretion, and shall continue thereafter for each
subsequent day in which the Participant participates in the Plan, unless changed in accordance with the previous sentence. 
 Proportionate
Allocation. In making any election described in Section 3.6(b) above, the Participant shall specify on the Election Form, in increments of one percent (1%), the percentage of his or her Deferral Account or Measurement Fund, as applicable,
to be allocated/reallocated. 
 Crediting or Debiting Method. The performance of each Measurement Fund (either positive or negative)
will be determined on a daily basis based on the manner in which such Participant’s Deferral Account has been hypothetically allocated among the Measurement Funds by the Participant. 
 No Actual Investment. Notwithstanding any other provision of this Plan that may be interpreted to the contrary, the Measurement Funds are to be
used for measurement purposes only, and a Participant’s election of any such Measurement Fund, the allocation of his or her Deferral Account thereto, the calculation of additional amounts and the crediting or debiting of such amounts to a
Participant’s Deferral Account shall not be considered or construed in any manner as an actual investment of his or her Deferral Account in any such Measurement Fund. In the event that the Company or the Trustee (as that term is defined
in the Trust), in its own discretion, decides to invest funds in any or all of the investments on which the Measurement Funds are based, no Participant shall have any rights in or to such investments themselves. Without limiting the foregoing, a
Participant’s Deferral Account shall at all times be a bookkeeping entry only and shall not represent any investment made on his or her behalf by the Company or the Trust; the Participant shall at all times remain an unsecured creditor of the
Company. 
  

 7 

 3.7 FICA and Other Taxes. 
 Annual Deferral Amounts. For each Plan Year in which an Annual Deferral Amount is being withheld from a Participant, the Participant’s
Employer(s) shall withhold from that portion of the Participant’s Base Salary and/or Bonus that is not being deferred, in a manner determined by the Employer(s), the Participant’s share of FICA and other employment taxes on such Annual
Deferral Amount. If necessary, the Committee may reduce the Annual Deferral Amount in order to comply with this Section 3.7. 
 Distributions. The Participant’s Employer(s), or the trustee of the Trust, shall withhold from any payments made to a Participant under this Plan all federal, state and local income, employment and other taxes required to be
withheld by the Employer(s), or the trustee of the Trust, in connection with such payments, in amounts and in a manner to be determined in the sole discretion of the Employer(s) and the trustee of the Trust. 
 ARTICLE 4 
 Scheduled Distribution;
Unforeseeable Financial Emergencies 
 4.1 Scheduled Distribution. In connection with each election to defer an Annual Deferral Amount, a Participant
may irrevocably elect to receive a Scheduled Distribution, in the form of a lump sum payment, from the Plan with respect to all or a portion of the Annual Deferral Amount. The Scheduled Distribution shall be a lump sum payment in an amount that is
equal to the portion of the Annual Deferral Amount the Participant elected to have distributed as a Scheduled Distribution, plus amounts credited or debited in the manner provided in Section 3.6 above on that amount, calculated as of the close
of business on or around the date on which the Scheduled Distribution becomes payable, as determined by the Committee in its sole discretion. Subject to the other terms and conditions of this Plan, each Scheduled Distribution elected shall be paid
out during a ninety (90) day period commencing immediately after the first day of any Plan Year designated by the Participant. The Plan Year designated by the Participant must be at least three (3) Plan Years after the end of the Plan Year
to which the Participant’s deferral election described in Section 3.2 relates. 
 4.2 Postponing Scheduled Distributions. A Participant may
elect to postpone a Scheduled Distribution described in Section 4.1 above, and have such amount paid out during a ninety (90) day period commencing immediately after an allowable alternative distribution date designated by the Participant
in accordance with this Section 4.2. In order to make this election, the Participant must submit a new Scheduled Distribution Election Form to the Committee in accordance with the following criteria: 
 Such Scheduled Distribution Election Form must be submitted to and accepted by the Committee in its sole discretion at least twelve (12) months prior
to the Participant’s previously designated Scheduled Distribution Date; 
 The new Scheduled Distribution Date selected by the
Participant must be the first day of a Plan Year, and must be at least five years after the previously designated Scheduled Distribution Date; and 
 The election of the new Scheduled Distribution Date shall have no effect until at least twelve (12) months after the date on which the election is made. 
 4.3 Other Benefits Take Precedence Over Scheduled Distributions. Should a Benefit Distribution Date occur that triggers a benefit under Articles 5, 6, 7 or 8, any Annual Deferral Amount that is subject to a
Scheduled Distribution election under Section 4.1 shall not be paid in accordance with Section 4.1, but shall be paid in accordance with the other applicable Article. Notwithstanding the foregoing, the Committee shall interpret this
Section 4.3 in a manner that is consistent with Code Section 409A and other applicable tax law, including but not limited to guidance issued after the effective date of this Plan. 
  

 8 

 4.4 Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies. If the Participant experiences an
Unforeseeable Financial Emergency, the Participant may petition the Committee to suspend deferrals of Base Salary and/or Bonus Amounts to the extent deemed necessary by the Committee to satisfy the Unforeseeable Financial Emergency. If suspension of
deferrals is not sufficient to satisfy the Participant’s Unforeseeable Financial Emergency, or if suspension of deferrals is not required or permitted under Code Section 409A and other applicable tax law, the Participant may further
petition the Committee to receive a partial or full payout from the Plan. The Participant shall only receive a payout from the Plan to the extent such payout is deemed necessary by the Committee to satisfy the Participant’s Unforeseeable
Financial Emergency, plus amounts reasonably necessary to pay taxes reasonably anticipated as a result of the distribution. 
 The payout shall not exceed
the lesser of (i) the Participant’s Deferral Account, valued as of the close of business on or around the date on which the amount becomes payable, as determined by the Committee in its sole discretion, or (ii) the amount necessary to
satisfy the Unforeseeable Financial Emergency, plus amounts reasonably necessary to pay taxes reasonably anticipated as a result of the distribution. Notwithstanding the foregoing, a Participant may not receive a payout from the Plan to the extent
that the Unforeseeable Financial Emergency is or may be relieved (A) through reimbursement or compensation by insurance or otherwise, (B) by liquidation of the Participant’s assets, to the extent the liquidation of such assets would
not itself cause severe financial hardship or (C) by suspension of deferrals under this Plan, if the Committee, in its sole discretion, determines that suspension is required or permitted by Code Section 409A and other applicable tax law.

 If the Committee, in its sole discretion, approves a Participant’s petition for suspension, the Participant’s deferrals under this Plan shall be
suspended as of the date of such approval. If the Committee, in its sole discretion, approves a Participant’s petition for suspension and payout, the Participant’s deferrals under this Plan shall be suspended as of the date of such
approval and the Participant shall receive a payout from the Plan within ninety (90) days of the date of such approval. 
 Notwithstanding the
foregoing, the Committee shall interpret all provisions relating to suspension and/or payout under this Section 4.4 in a manner that is consistent with Code Section 409A and other applicable tax law, including but not limited to guidance
issued after the effective date of this Plan. 
 ARTICLE 5 
 Retirement Benefit 
 5.1 Retirement Benefit. A Participant who Retires shall receive, as a Retirement Benefit, his or
her Deferral Account, valued as of the close of business on or around the Participant’s Benefit Distribution Date, as determined by the Committee in its sole discretion. 
 5.2 Payment of Retirement Benefit. 
 A Participant, in connection with his or her commencement of participation in the
Plan, shall elect on an Election Form to receive the Retirement Benefit in a lump sum or pursuant to an Annual Installment Method of up to fifteen (15) years. The Participant may change this election by submitting an Election Form to the
Committee in accordance with the following criteria: 
 Such Election Form must be submitted to and accepted by the Committee in its sole
discretion at least twelve (12) months prior to the Participant’s originally scheduled Benefit Distribution Date described in Section 1.6(a); and 
  

 9 

 The first Retirement Benefit payment is delayed at least five (5) years from the Participant’s
originally scheduled Benefit Distribution Date described in Section 1.6(a); and 
 The election to modify the Retirement Benefit shall
have no effect until at least twelve (12) months after the date on which the election is made; and 
 Notwithstanding the foregoing, the
Committee shall interpret all provisions relating to changing the Retirement Benefit election under this Section 5.2 in a manner that is consistent with Code Section 409A and other applicable tax law, including but not limited to guidance
issued after the effective date of this Plan. Accordingly, if a Participant’s subsequent Retirement Benefit distribution election would result in the shortening of the length of the Retirement Benefit payment period (e.g., a Participant changes
an existing distribution election from annual installments to a lump sum payment; from 15 annual installments to 5 annual installments, etc.), and the Committee determines such election to be inconsistent with Code Section 409A or other
applicable tax law, the election shall not be effective. 
 The Election Form most recently accepted by the Committee shall govern the payout
of the Retirement Benefit. If a Participant does not make any election with respect to the payment of the Retirement Benefit in connection with his or her commencement of participation in the Plan, then such Participant shall be deemed to have
elected to receive the Retirement Benefit in a lump sum. 
 The lump sum payment shall be made, or installment payments shall commence, no
later than ninety (90) days after the Participant’s Benefit Distribution Date. Remaining installments, if any, shall be paid no later than ninety (90) days after each anniversary of the Participant’s Benefit Distribution Date.

 ARTICLE 6 
 Termination Benefit

 6.1 Termination Benefit. A Participant who experiences a Termination of Employment shall receive, as a Termination Benefit, his or her Deferral
Account, valued as of the close of business on or around the Participant’s Benefit Distribution Date, as determined by the Committee in its sole discretion. 
 6.2 Payment of Termination Benefit. 
 A Participant, in connection with his or her commencement of participation in the Plan, shall elect on
an Election Form to receive the Termination Benefit in a lump sum or pursuant to an Annual Installment Method of up to five (5) years. The Participant may change this election by submitting an Election Form to the Committee in accordance with
the following criteria: 
 Such Election Form must be submitted to and accepted by the Committee in its sole discretion at least twelve
(12) months prior to the Participant’s originally scheduled Benefit Distribution Date described in Section 1.6(b); and 
  

 10 

 The first Termination Benefit payment is delayed at least five (5) years from the Participant’s
originally scheduled Benefit Distribution Date described in Section 1.6(b); and 
 The election to modify the Termination Benefit shall
have no effect until at least twelve (12) months after the date on which the election is made; and 
 Notwithstanding the foregoing, the
Committee shall interpret all provisions relating to changing the Termination Benefit election under this Section 6.2 in a manner that is consistent with Code Section 409A and other applicable tax law, including but not limited to guidance
issued after the effective date of this Plan. Accordingly, if a Participant’s subsequent Termination Benefit distribution election would result in the shortening of the length of the Termination Benefit payment period (e.g., a Participant
changes an existing distribution election from annual installments to a lump sum payment; from 5 annual installments to 3 annual installments, etc.), and the Committee determines such election to be inconsistent with Code Section 409A and other
applicable tax law, the election shall not be effective. 
 The Election Form most recently accepted by the Committee shall govern the payout
of the Termination Benefit. If a Participant does not make any election with respect to the payment of the Termination Benefit in connection with his or her commencement of participation in the Plan, then such Participant shall be deemed to have
elected to receive the Termination Benefit in a lump sum. 
 The lump sum payment shall be made, or installment payments shall commence, no
later than ninety (90) days after the Participant’s Benefit Distribution Date. Remaining installments, if any, shall be paid no later than ninety (90) days after each anniversary of the Participant’s Benefit Distribution Date.

 6.3 Change in Control. Notwithstanding any provisions of the Plan to the contrary, in the event that the employment of a qualifying Participant, as
determined herein, is involuntarily terminated as of any date within six (6) months of the occurrence of a Change in Control, such a Participant shall become entitled to receive, as a Termination Benefit, his or her Deferral Account valued as
of the close of business on or around the Participant’s Benefit Distribution Date, as determined by the Committee in its sole discretion. Any payment made in accordance with this Section 6.3 shall be made in the form of a lump sum cash
payment within ninety (90) days of the date of such termination of employment. The only Participants who qualify for coverage under this Section 6.3 shall be the president of the Company and the thirty (30) next highest compensated
officers of the Company determined as of the date of the Change in Control. 
 ARTICLE 7 
 Disability Benefit 
 7.1 Disability Benefit. Upon a
Participant’s Disability, the Participant shall receive a Disability Benefit, which shall be equal to the Participant’s Deferral Account, calculated as of the close of business on or around the Participant’s Benefit Distribution Date,
as selected by the Committee in its sole discretion. 
 7.2 Payment of Disability Benefit. The Disability Benefit shall be paid to the Participant in
a lump sum payment no later than ninety (90) days after the Participant’s Benefit Distribution Date. 
  

 11 

 ARTICLE 8 
 Death Benefit 
 8.1 Death Benefit. The Participant’s Beneficiary(ies) shall receive a Death Benefit upon the
Participant’s death which will be equal to the Participant’s Deferral Account, calculated as of the close of business on or around the Participant’s Benefit Distribution Date, as selected by the Committee in its sole discretion.

 8.2 Payment of Death Benefit. The Death Benefit shall be paid to the Participant’s Beneficiary(ies) in a lump sum payment no later than ninety
(90) days after the Participant’s Benefit Distribution Date. 
 ARTICLE 9 
 Beneficiary Designation 
 9.1 Beneficiary. Each Participant shall have the right, at any time, to
designate his or her Beneficiary(ies) (both primary as well as contingent) to receive any benefits payable under the Plan to a beneficiary upon the death of a Participant. All such Beneficiary(ies) designations shall be made in accordance with rules
and procedures established by the Committee in its sole discretion. The Beneficiary designated under this Plan may be the same as or different from the Beneficiary designation under any other plan of an Employer in which the Participant
participates. 
 9.2 Beneficiary Designation; Change; Spousal Consent. A Participant shall designate his or her Beneficiary by completing and signing
the Beneficiary Designation Form, and returning it to the Committee or its designated agent. A Participant shall have the right to change a Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form
and the Committee’s rules and procedures, as in effect from time to time. If the Participant names someone other than his or her spouse as a Beneficiary, the Committee may, in its sole discretion, determine that spousal consent is required to
be provided in a form designated by the Committee, executed by such Participant’s spouse and returned to the Committee. Upon the acceptance by the Committee of a new Beneficiary Designation Form, all Beneficiary designations previously filed
shall be canceled. The Committee shall be entitled to rely on the last Beneficiary Designation Form filed by the Participant and accepted by the Committee prior to his or her death. 
 9.3 Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received and acknowledged in writing by the Committee or its designated agent. 
 9.4 No Beneficiary Designation. If a Participant fails to designate a Beneficiary as provided in Sections 9.1, 9.2 and 9.3 above or, if all designated
Beneficiaries predecease the Participant or die prior to complete distribution of the Participant’s benefits, then the Participant’s designated Beneficiary shall be deemed to be his or her surviving spouse. If the Participant has no
surviving spouse, the benefits remaining under the Plan to be paid to a Beneficiary shall be payable to the executor or personal representative of the Participant’s estate. 
 9.5 Doubt as to Beneficiary. If the Committee has any doubt as to the proper Beneficiary to receive payments pursuant to this Plan, the Committee shall have the right, exercisable in its discretion, to cause
the Participant’s Employer to withhold such payments until this matter is resolved to the Committee’s satisfaction. 
 9.6 Discharge of
Obligations. The payment of benefits under the Plan to a Beneficiary shall fully and completely discharge all Employers and the Committee from all further obligations under this Plan with respect to the Participant, and that Participant’s
Plan Agreement shall terminate upon such full payment of benefits. 
  

 12 

 ARTICLE 10 
 Leave of Absence 
 10.1 Paid Leave of Absence. If a Participant is authorized by the Participant’s Employer to
take a paid leave of absence from the employment of the Employer, (i) the Participant shall continue to be considered eligible for the benefits provided in Articles 4, 5, 6, 7 or 8 in accordance with the provisions of those Articles, and
(ii) the Annual Deferral Amount shall continue to be withheld during such paid leave of absence in accordance with Section 3.2. 
 10.2 Unpaid
Leave of Absence. If a Participant is authorized by the Participant’s Employer to take an unpaid leave of absence from the employment of the Employer for any reason, such Participant shall continue to be eligible for the benefits provided
in Articles 4, 5, 6, 7 or 8 in accordance with the provisions of those Articles. However, the Participant shall be excused from fulfilling his or her Annual Deferral Amount commitment that would otherwise have been withheld during the remainder of
the Plan Year in which the unpaid leave of absence is taken. During the unpaid leave of absence, the Participant shall not be allowed to make any additional deferral elections. However, if the Participant returns to employment, the Participant may
elect to defer an Annual Deferral Amount for the Plan Year following his or her return to employment and for every Plan Year thereafter while a Participant in the Plan, provided such deferral elections are otherwise allowed and an Election Form is
delivered to and accepted by the Committee for each such election in accordance with Section 3.2 above. 
 ARTICLE 11 
 Termination of Plan, Amendment or Modification 
 11.1
Termination of Plan. Each Employer reserves the right to Terminate the Plan (as defined in Section 1.30). Following a Termination of the Plan, Participant Deferral Accounts shall remain in the Plan until the Participant becomes eligible
for the benefits provided in Articles 4, 5, 6, 7 or 8 in accordance with the provisions of those Articles. The Termination of the Plan shall not adversely affect any Participant or Beneficiary who has become entitled to the payment of any benefits
under the Plan as of the date of termination. 
 11.2 Amendment. 
 Any Employer may, at any time, amend or modify the Plan in whole or in part with respect to that Employer. Notwithstanding the foregoing, no amendment or modification shall be effective to decrease the value of a Participant’s vested
Deferral Account in existence at the time the amendment or modification is made. 
 Notwithstanding any provision of the Plan to the contrary, in the event
that the Company determines that any provision of the Plan may cause amounts deferred under the Plan to become immediately taxable to any Participant under Code Section 409A, and related guidance, the Company may (i) adopt such amendments
to the Plan and appropriate policies and procedures, including amendments and policies with retroactive effect, that the Company determines necessary or appropriate to preserve the intended tax treatment of the Plan benefits provided by the Plan
and/or (ii) take such other actions as the Company determines necessary or appropriate to comply with the requirements of Code Section 409A, and related guidance. 
  

 13 

 11.3 Plan Agreement. Despite the provisions of Sections 11.1 and 11.2 above, if a Participant’s Plan
Agreement contains benefits or limitations that are not in this Plan document, the Employer may only amend or terminate such provisions with the written consent of the Participant. 
 11.4 Effect of Payment. The full payment of the Participant’s Deferral Account under Articles 4, 5, 6, 7 or 8 of the Plan shall completely discharge all obligations to a Participant and his or her
designated Beneficiaries under this Plan, and the Participant’s Plan Agreement shall terminate. 
 ARTICLE 12 
 Administration 
 12.1 Committee Duties. Except as
otherwise provided in this Article 12, this Plan shall be administered by a Committee, which shall consist of the Board, or such committee as the Board shall appoint. Members of the Committee may be Participants under this Plan. The Committee also
shall have the discretion and authority to (i) make, amend, interpret and enforce all appropriate rules and regulations for the administration of this Plan, and (ii) decide or resolve any and all questions including interpretations of this
Plan, as may arise in connection with the Plan. Any individual serving on the Committee who is a Participant shall not vote or act on any matter relating solely to himself or herself. When making a determination or calculation, the Committee shall
be entitled to rely on information furnished by a Participant or the Company. 
 12.2 Agents. In the administration of this Plan, the Committee may,
from time to time, employ agents and delegate to them such administrative duties as it sees fit (including acting through a duly appointed representative) and may from time to time consult with counsel who may be counsel to any Employer. 

12.3 Binding Effect of Decisions. The decision or action of the Administrator with respect to any question arising out of or in connection with the
administration, interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in the Plan. 
 12.4 Indemnity of Committee. All Employers shall indemnify and hold harmless the members of the Committee and any Employee to whom the duties of the Committee may
be delegated against any and all claims, losses, damages, expenses or liabilities arising from any action or failure to act with respect to this Plan, except in the case of willful misconduct by the Committee, any of its members or any such
Employee. 
 12.5 Employer Information. To enable the Committee to perform its functions, the Company and each Employer shall supply full and timely
information to the Committee on all matters relating to the compensation of its Participants, the date and circumstances of the Retirement, Disability, death or Termination of Employment of its Participants, and such other pertinent information as
the Committee may reasonably require. 
 ARTICLE 13 
 Other Benefits and Agreements 
 The benefits provided for a Participant and Participant’s Beneficiary under the Plan
are in addition to any other benefits available to such Participant under any other plan or program for employees of the Participant’s Employer. The Plan shall supplement and shall not supersede, modify or amend any other such plan or program
except as may otherwise be expressly provided. 
  

 14 

 ARTICLE 14 
 Claims Procedures 
 14.1 Presentation of Claim. Any Participant or Beneficiary of a deceased Participant (such
Participant or Beneficiary being referred to below as a “Claimant”) may deliver to the Committee a written claim for a determination with respect to the amounts distributable to such Claimant from the Plan. If such a claim relates to the
contents of a notice received by the Claimant, the claim must be made within ninety (90) days after such notice was received by the Claimant. All other claims must be made within 180 days of the date on which the event that caused the
claim to arise occurred. The claim must state with particularity the determination desired by the Claimant. 
 14.2 Notification of Decision. The
Committee shall consider a Claimant’s claim within a reasonable time, but no later than ninety (90) days after receiving the claim. If the Committee determines that special circumstances require an extension of time for processing the
claim, written notice of the extension shall be furnished to the Claimant prior to the termination of the initial ninety (90) day period. In no event shall such extension exceed a period of ninety (90) days from the end of the initial
period. The extension notice shall indicate the special circumstances requiring an extension of time and the date by which the Committee expects to render the benefit determination. 
 The Committee shall notify the Claimant in writing: 
 that the Claimant’s requested determination has
been made, and that the claim has been allowed in full; or 
 that the Committee has reached a conclusion contrary, in whole or in part, to
the Claimant’s requested determination, and such notice must set forth in a manner calculated to be understood by the Claimant: 
 the
specific reason(s) for the denial of the claim, or any part of it; specific reference(s) to pertinent provisions of the Plan upon which such denial was based; 
 a description of any additional material or information necessary for the Claimant to perfect the claim, and an explanation of why such material or information is necessary; an explanation of the claim review
procedure set forth in Section 14.3 below; and a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on review. 
 14.3 Review of a Denied Claim. On or before sixty (60) days after receiving a notice from the Committee that a claim has been denied, in whole or in part, a
Claimant (or the Claimant’s duly authorized representative) may file with the Committee a written request for a review of the denial of the claim. The Claimant (or the Claimant’s duly authorized representative): 
 may, upon request and free of charge, have reasonable access to, and copies of, all documents, records and other information relevant to the claim for
benefits; may submit written comments or other documents; and/or 
 may request a hearing, which the Committee, in its sole discretion, may
grant. 
 14.4 Decision on Review. The Committee shall render its decision on review promptly, and no later than sixty (60) days after the
Committee receives the Claimant’s written request for a review of the denial of the claim. If the Committee determines that special circumstances require an extension of time for processing the claim, written notice of the extension shall be
furnished to the Claimant prior to the termination of the initial sixty 

  

 15 

 
(60) day period. In no event shall such extension exceed a period of sixty (60) days from the end of the initial period. The extension notice shall
indicate the special circumstances requiring an extension of time and the date by which the Committee expects to render the benefit determination. In rendering its decision, the Committee shall take into account all comments, documents, records and
other information submitted by the Claimant relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. The decision must be written in a manner calculated to be understood by
the Claimant, and it must contain: 
 specific reasons for the decision; 
 specific reference(s) to the pertinent Plan provisions upon which the decision was based; a statement that the Claimant is entitled to receive, upon
request and free of charge, reasonable access to and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the Claimant’s claim for benefits; and a statement of the Claimant’s
right to bring a civil action under ERISA Section 502(a). 
 14.5 Legal Action. A Claimant’s compliance with the foregoing provisions of
this Article 15 is a mandatory prerequisite to a Claimant’s right to commence any legal action with respect to any claim for benefits under this Plan. 
 ARTICLE 15 
 Trust 
 15.1 Establishment of the Trust. In order to provide assets from which to fulfill the obligations of the Participants and their beneficiaries under the Plan, the Company may establish a trust by a trust agreement with a third party,
the trustee, to which each Employer may, in its discretion, contribute cash or other property, including securities issued by the Company, to provide for the benefit payments under the Plan, (the “Trust”). 
 15.2 Interrelationship of the Plan and the Trust. The provisions of the Plan and the Plan Agreement shall govern the rights of a Participant to receive
distributions pursuant to the Plan. The provisions of any Trust shall govern the rights of the Employers, Participants and the creditors of the Employers to the assets transferred to the Trust. Each Employer shall at all times remain liable to carry
out its obligations under the Plan. 
 15.3 Distributions From the Trust. Each Employer’s obligations under the Plan may be satisfied with Trust
assets distributed pursuant to the terms of any Trust, and any such distribution shall reduce the Employer’s obligations under this Plan. 
 ARTICLE 16 
 Miscellaneous 
 16.1
Status of Plan. The Plan is intended to be a plan that is not qualified within the meaning of Code Section 401(a) and that “is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation
for a select group of management or highly compensated employees” within the meaning of ERISA Sections 201(2), 301(a)(3) and 401(a)(1). The Plan shall be administered and interpreted (i) in a manner consistent with that intent, and
(ii) in accordance with Code Section 409A and other applicable tax law, including but not limited to Treasury Regulations promulgated pursuant to Code Section 409A. 
 16.2 Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights, interests or claims in any property or assets of an Employer. For
purposes of the payment of benefits under this Plan, any and all of an Employer’s assets shall be, and remain, the general, unpledged unrestricted assets of the Employer. An Employer’s obligation under the Plan shall be merely that of an
unfunded and unsecured promise to pay money in the future. 
  

 16 

 16.3 Employer’s Liability. An Employer’s liability for the payment of benefits shall be defined only by
the Plan and the Plan Agreement, as entered into between the Employer and a Participant. An Employer shall have no obligation to a Participant under the Plan except as expressly provided in the Plan and his or her Plan Agreement. 
 16.4 Nonassignability. Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or
otherwise encumber, transfer, hypothecate, alienate or convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are expressly declared to be, unassignable and
non-transferable. No part of the amounts payable shall, prior to actual payment, be subject to seizure, attachment, garnishment or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any
other person, be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency or be transferable to a spouse as a result of a property settlement or otherwise. 
 16.5 Not a Contract of Employment. The terms and conditions of this Plan shall not be deemed to constitute a contract of employment between any Employer and the
Participant. Such employment is hereby acknowledged to be an “at will” employment relationship that can be terminated at any time for any reason, or no reason, with or without cause, and with or without notice, unless expressly provided in
a written employment agreement. Nothing in this Plan shall be deemed to give a Participant the right to be retained in the service of any Employer, or to interfere with the right of any Employer to discipline or discharge the Participant at any
time. 
 16.6 Terms. Whenever any words are used herein in the masculine, they shall be construed as though they were in the feminine in all cases
where they would so apply; and whenever any words are used herein in the singular or in the plural, they shall be construed as though they were used in the plural or the singular, as the case may be, in all cases where they would so apply.

 16.7 Captions. The captions of the articles, sections and paragraphs of this Plan are for convenience only and shall not control or affect the
meaning or construction of any of its provisions. 
 16.8 Governing Law. Subject to ERISA, the provisions of this Plan shall be construed and
interpreted according to the internal laws of the State without regard to its conflicts of laws principles. 
 16.9 Notice. Any notice or filing
required or permitted to be given to the Committee under this Plan shall be sufficient if in writing and hand-delivered, or sent by registered or certified mail, to the address below: 
 Caremark Rx, Inc. 
 Attn: Vice president,
Employee 
 Benefits, Human Resources 
 Department 
 2211 Sanders Road 
 Northbrook, Illinois 60062 
  

 17 

 Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the
postmark on the receipt for registration or certification. Any notice or filing required or permitted to be given to a Participant under this Plan shall be sufficient if in writing and hand-delivered, or sent by mail, to the last known address of
the Participant. 
 16.10 Successors. The provisions of this Plan shall bind and inure to the benefit of the Participant’s Employer and its
successors and assigns and the Participant and the Participant’s designated Beneficiaries. 
 16.11 Validity. In case any provision of this Plan
shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein. 

16.12 Incompetent. If the Committee determines in its discretion that a benefit under this Plan is to be paid to a minor, a person declared incompetent or to a
person incapable of handling the disposition of that person’s property, the Committee may direct payment of such benefit to the guardian, legal representative or person having the care and custody of such minor, incompetent or incapable person.
The Committee may require proof of minority, incompetence, incapacity or guardianship, as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of the Participant and the
Participant’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan for such payment amount. 
 16.13
Court Order. The Committee is authorized to comply with any court order in any action in which the Plan or the Committee has been named as a party, including any action involving a determination of the rights or interests in a
Participant’s benefits under the Plan. Notwithstanding the foregoing, the Committee shall interpret this provision in a manner that is consistent with Code Section 409A and other applicable tax law, including but not limited to guidance
issued after the effective date of this Plan. 
 16.14 Deduction Limitation on Benefit Payments. An Employer may determine that as a result of the
application of the limitation under Code Section 162(m), a distribution payable to a Participant pursuant to this Plan would not be deductible by the Employer if such distribution were made at the time required by the Plan. If an Employer makes
such a determination, then the distribution shall not be paid to the Participant until such time as the distribution first becomes deductible. The amount of the distribution shall continue to be adjusted in accordance with Section 3.6 above
until it is distributed to the Participant. The amount of the distribution, plus amounts credited or debited thereon, shall be paid to the Participant or his or her Beneficiary (in the event of the Participant’s death) at the earliest possible
date, as determined by the Employer, on which the deductibility of compensation paid or payable to the Participant for the taxable year of the Employer during which the distribution is made will not be limited by Section 162(m). 
  

 182000 Equity Incentive Plan, as amended

 Exhibit 10.3 
 EQUINIX, INC. 
 2000 EQUITY INCENTIVE PLAN 
 (AS ADOPTED MAY 26, 2000) 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE I. INTRODUCTION
	  	1
		
	 ARTICLE II. ADMINISTRATION
	  	1
	 2.1
	  	Committee Composition	  	1
	 2.2
	  	Committee Responsibilities	  	1
	 2.3
	  	Committee for Non-Officer Grants	  	1
		
	 ARTICLE III. SHARES AVAILABLE FOR GRANTS
	  	2
	 3.1
	  	Basic Limitation	  	2
	 3.2
	  	Annual Increase in Shares	  	2
	 3.3
	  	Additional Shares	  	2
	 3.4
	  	Dividend Equivalents	  	2
		
	 ARTICLE IV. ELIGIBILITY
	  	2
	 4.1
	  	Incentive Stock Options	  	2
	 4.2
	  	Other Grants	  	3
		
	 ARTICLE V. OPTIONS
	  	3
	 5.1
	  	Stock Option Agreement	  	3
	 5.2
	  	Number of Shares	  	3
	 5.3
	  	Exercise Price	  	3
	 5.4
	  	Exercisability and Term	  	3
	 5.5
	  	Modification or Assumption of Options	  	3
	 5.6
	  	Buyout Provisions	  	4
		
	 ARTICLE VI. PAYMENT FOR OPTION SHARES
	  	4
	 6.1
	  	General Rule	  	4
	 6.2
	  	Surrender of Stock	  	4
	 6.3
	  	Exercise/Sale	  	4
	 6.4
	  	Exercise/Pledge	  	4
	 6.5
	  	Promissory Note	  	4
	 6.6
	  	Other Forms of Payment	  	5
		
	 ARTICLE VII. STOCK APPRECIATION RIGHTS
	  	5
	 7.1
	  	SAR Agreement	  	5
	 7.2
	  	Number of Shares	  	5
	 7.3
	  	Exercise Price	  	5
	 7.4
	  	Exercisability and Term	  	5
	 7.5
	  	Exercise of SARs	  	5
	 7.6
	  	Modification or Assumption of SARs	  	6

  

 i 

					
		
	 ARTICLE VIII. RESTRICTED SHARES
	  	6
	 8.1
	  	Restricted Stock Agreement	  	6
	 8.2
	  	Payment for Awards	  	6
	 8.3
	  	Vesting Conditions	  	6
	 8.4
	  	Voting and Dividend Rights	  	6
		
	 ARTICLE IX. STOCK UNITS
	  	6
	 9.1
	  	Stock Unit Agreement	  	6
	 9.2
	  	Payment for Awards	  	7
	 9.3
	  	Vesting Conditions	  	7
	 9.4
	  	Voting and Dividend Rights	  	7
	 9.5
	  	Form and Time of Settlement of Stock Units	  	7
	 9.6
	  	Death of Recipient	  	7
	 9.7
	  	Creditors’ Rights	  	7
		
	 ARTICLE X. CHANGE IN CONTROL
	  	8
		
	 ARTICLE XI. PROTECTION AGAINST DILUTION
	  	8
	 11.1
	  	Adjustments	  	8
	 11.2
	  	Dissolution or Liquidation	  	9
	 11.3
	  	Reorganizations	  	9
		
	 ARTICLE XII. DEFERRAL OF AWARDS
	  	9
		
	 ARTICLE XIII. AWARDS UNDER OTHER PLANS
	  	10
		
	 ARTICLE XIV. PAYMENT OF FEES IN SECURITIES
	  	10
	 14.1
	  	Effective Date	  	10
	 14.2
	  	Elections to Receive NSOs, Restricted Shares or Stock Units	  	10
	 14.3
	  	Number and Terms of NSOs, Restricted Shares or Stock Units	  	10
		
	 ARTICLE XV. LIMITATION ON RIGHTS
	  	10
	 15.1
	  	Retention Rights	  	10
	 15.2
	  	Stockholders’ Rights	  	10
	 15.3
	  	Regulatory Requirements	  	10
		
	 ARTICLE XVI. WITHHOLDING TAXES
	  	11
	 16.1
	  	General	  	11
	 16.2
	  	Share Withholding	  	11
		
	 ARTICLE XVII. FUTURE OF THE PLAN
	  	11
	 17.1
	  	Term of the Plan	  	11
	 17.2
	  	Amendment or Termination	  	11
		
	 ARTICLE XVIII. LIMITATION ON PAYMENTS
	  	11
	 18.1
	  	Scope of Limitation	  	11
	 18.2
	  	Application to Award	  	12
	 18.3
	  	Basic Rule	  	12

  

 ii 

					
	 18.4
	  	Reduction of Payments	  	12
	 18.5
	  	Overpayments and Underpayments	  	12
	 18.6
	  	Related Corporations	  	13
		
	 ARTICLE XIX. DEFINITIONS
	  	13

  

 iii 

 EQUINIX, INC. 
 2000 EQUITY INCENTIVE PLAN 
 ARTICLE I. INTRODUCTION. 
 The Plan was adopted by the Board to be effective at the IPO. The purpose of the Plan is to promote the long-term success of the Company and the creation
of stockholder value by (a) encouraging Employees, Outside Directors and Consultants to focus on critical long-range objectives, (b) encouraging the attraction and retention of Employees, Outside Directors and Consultants with exceptional
qualifications, and (c) linking Employees, Outside Directors and Consultants directly to stockholder interests through increased stock ownership. The Plan seeks to achieve this purpose by providing for Awards in the form of Restricted Shares,
Stock Units, Options (which may constitute incentive stock options or nonstatutory stock options) or stock appreciation rights. 
 The Plan
shall be governed by, and construed in accordance with, the laws of the State of Delaware (except their choice-of-law provisions). 
 ARTICLE II.
ADMINISTRATION. 
 2.1 Committee Composition. The Plan shall be administered by the Committee. The Committee shall consist
exclusively of two or more directors of the Company, who shall be appointed by the Board. In addition, the composition of the Committee shall satisfy: 
 (a) Such requirements as the Securities and Exchange Commission may establish for administrators acting under plans intended to qualify for exemption under Rule 16b-3 (or its successor) under the Exchange Act;
and 
 (b) Such requirements as the Internal Revenue Service may establish for outside directors acting under plans intended
to qualify for exemption under section 162(m)(4)(C) of the Code. 
 2.2 Committee Responsibilities. The Committee shall
(a) select the Employees, Outside Directors and Consultants who are to receive Awards under the Plan, (b) determine the type, number, vesting requirements and other features and conditions of such Awards, (c) interpret the Plan and
(d) make all other decisions relating to the operation of the Plan. The Committee may adopt such rules or guidelines as it deems appropriate to implement the Plan. The Committee’s determinations under the Plan shall be final and binding on
all persons. 
 2.3 Committee for Non-Officer Grants. The Board may also appoint a secondary committee of the Board, which shall be
composed of one or more directors of the Company who need not satisfy the requirements of Section 2.1. Such secondary committee may administer the Plan with respect to Employees and Consultants who are not considered officers or directors of
the Company under section 16 of the Exchange Act, may grant Awards under the Plan to such Employees and Consultants and may determine all features and conditions of such Awards. Within the limitations of this Section 2.3, any reference in
the Plan to the Committee shall include such secondary committee. 

 ARTICLE III. SHARES AVAILABLE FOR GRANTS. 
 3.1 Basic Limitation. Shares of Common Stock issued pursuant to the Plan may be authorized but unissued shares or treasury shares. The aggregate
number of Options, SARs, Stock Units and Restricted Shares awarded under the Plan shall not exceed (a) 5,000,000, (b) plus the shares remaining available for issuance under the Predecessor Plan, plus (c) the additional shares of
Common Stock described in Sections 3.2 and 3.3. The limitations of this Section 3.1 and Section 3.2 shall be subject to adjustment pursuant to Article 11. 
 3.2 Annual Increase in Shares. As of the first day of each calendar year, commencing on January 1, 2001 and ending on January 1,
2010, the aggregate number of Options, SARs, Stock Units and Restricted Shares that may be awarded under the Plan shall automatically increase by a number equal to the lesser of 6% of the total number of shares of Common Stock then outstanding, or
6,000,000 shares.  
 3.3 Additional Shares. If Restricted Shares or shares of Common Stock issued upon the exercise of
Options are forfeited (including any options incorporated from the Predecessor Plan), then such shares of Common Stock shall again become available for Awards under the Plan. If Stock Units, Options or SARs are forfeited or terminate for any other
reason before being exercised, then the corresponding shares of Common Stock shall again become available for Awards under the Plan. If Stock Units are settled, then only the number of shares of Common Stock (if any) actually issued in settlement of
such Stock Units shall reduce the number available under Section 3.1 and the balance shall again become available for Awards under the Plan. If SARs are exercised, then only the number of shares of Common Stock (if any) actually issued in
settlement of such SARs shall reduce the number available under Section 3.1 and the balance shall again become available for Awards under the Plan. The foregoing notwithstanding, the aggregate number of shares of Common Stock that may be issued
under the Plan upon the exercise of ISOs shall not be increased when Restricted Shares or other shares of Common Stock are forfeited. 
 3.4 Dividend Equivalents. Any dividend equivalents paid or credited under the Plan shall not be applied against the number of Restricted Shares, Stock Units, Options or SARs available for Awards, whether or not such dividend
equivalents are converted into Stock Units. 
 ARTICLE IV. ELIGIBILITY. 
 4.1 Incentive Stock Options. Only Employees who are common-law employees of the Company, a Parent or a Subsidiary shall be eligible for the grant of ISOs. In addition, an Employee who owns more than 10% of the
total combined voting power of all classes of outstanding stock of the Company or any of its Parents or Subsidiaries shall not be eligible for the grant of an ISO unless the requirements set forth in section 422(c)(6) of the Code are satisfied.

  

 2 

 4.2 Other Grants. Only Employees, Outside Directors and Consultants shall be eligible for the
grant of Restricted Shares, Stock Units, NSOs or SARs. 
 ARTICLE V. OPTIONS. 
 5.1 Stock Option Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee and the
Company. Such Option shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The Stock Option Agreement shall specify whether the Option is an ISO or an NSO. The provisions
of the various Stock Option Agreements entered into under the Plan need not be identical. Options may be granted in consideration of a reduction in the Optionee’s other compensation. A Stock Option Agreement may provide that a new Option will
be granted automatically to the Optionee when he or she exercises a prior Option and pays the Exercise Price in the form described in Section 6.2. 
 5.2 Number of Shares. Each Stock Option Agreement shall specify the number of shares of Common Stock subject to the Option and shall provide for the adjustment of such number in accordance with Article 10.
Options granted to any Optionee in a single fiscal year of the Company shall not cover more than 1,000,000 shares of Common Stock, except that Options granted to a new Employee in the fiscal year of the Company in which his or her service as an
Employee first commences shall not cover more than 1,500,000 shares of Common Stock. The limitations set forth in the preceding sentence shall be subject to adjustment in accordance with Article 11. 
 5.3 Exercise Price. Each Stock Option Agreement shall specify the Exercise Price; provided that the Exercise Price under an ISO shall in no event
be less than 100% of the Fair Market Value of a share of Common Stock on the date of grant and the Exercise Price under an NSO shall in no event be less than 85% of the Fair Market Value of a share of Common Stock on the date of grant. In the case
of an NSO, a Stock Option Agreement may specify an Exercise Price that varies in accordance with a predetermined formula while the NSO is outstanding. 
 5.4 Exercisability and Term. Each Stock Option Agreement shall specify the date or event when all or any installment of the Option is to become exercisable. The Stock Option Agreement shall also specify the
term of the Option; provided that the term of an ISO shall in no event exceed 10 years from the date of grant. A Stock Option Agreement may provide for accelerated exercisability in the event of the Optionee’s death, disability or
retirement or other events and may provide for expiration prior to the end of its term in the event of the termination of the Optionee’s service. Options may be awarded in combination with SARs, and such an Award may provide that the Options
will not be exercisable unless the related SARs are forfeited. 
 5.5 Modification or Assumption of Options. Within the limitations of
the Plan, the Committee may modify, extend or assume outstanding options or may accept the cancellation of outstanding options (whether granted by the Company or by another issuer) in return for the grant of new options for the same or a different
number of shares and at the same or a different exercise price. The foregoing notwithstanding, no modification of an Option shall, without the consent of the Optionee, alter or impair his or her rights or obligations under such Option. 

 

 3 

 5.6 Buyout Provisions. The Committee may at any time (a) offer to buy out for a payment in
cash or cash equivalents an Option previously granted or (b) authorize an Optionee to elect to cash out an Option previously granted, in either case at such time and based upon such terms and conditions as the Committee shall establish.

 ARTICLE VI. PAYMENT FOR OPTION SHARES. 
 6.1 General Rule. The entire Exercise Price of shares of Common Stock issued upon exercise of Options shall be payable in cash or cash equivalents at the time when such shares of Common Stock are purchased, except as follows:

 (a) In the case of an ISO granted under the Plan, payment shall be made only pursuant to the express provisions of the
applicable Stock Option Agreement. The Stock Option Agreement may specify that payment may be made in any form(s) described in this Article 6. 
 (b) In the case of an NSO, the Committee may at any time accept payment in any form(s) described in this Article 6. 
 6.2 Surrender of Stock. To the extent that this Section 6.2 is applicable, all or any part of the Exercise Price may be paid by surrendering, or attesting to the ownership of, shares of Common Stock that are already owned by the
Optionee. Such shares of Common Stock shall be valued at their Fair Market Value on the date when the new shares of Common Stock are purchased under the Plan. The Optionee shall not surrender, or attest to the ownership of, shares of Common Stock in
payment of the Exercise Price if such action would cause the Company to recognize compensation expense (or additional compensation expense) with respect to the Option for financial reporting purposes. 
 6.3 Exercise/Sale. To the extent that this Section 6.3 is applicable, all or any part of the Exercise Price and any withholding taxes may be
paid by delivering (on a form prescribed by the Company) an irrevocable direction to a securities broker approved by the Company to sell all or part of the shares of Common Stock being purchased under the Plan and to deliver all or part of the sales
proceeds to the Company. 
 6.4 Exercise/Pledge. To the extent that this Section 6.4 is applicable, all or any part of the
Exercise Price and any withholding taxes may be paid by delivering (on a form prescribed by the Company) an irrevocable direction to pledge all or part of the shares of Common Stock being purchased under the Plan to a securities broker or lender
approved by the Company, as security for a loan, and to deliver all or part of the loan proceeds to the Company. 
 6.5 Promissory
Note. To the extent that this Section 6.5 is applicable, all or any part of the Exercise Price and any withholding taxes may be paid by delivering (on a form prescribed by the Company) a full-recourse promissory note. However, the par value
of the shares of Common Stock being purchased under the Plan, if newly issued, shall be paid in cash or cash equivalents. 
  

 4 

 6.6 Other Forms of Payment. To the extent that this Section 6.6 is applicable, all or any
part of the Exercise Price and any withholding taxes may be paid in any other form that is consistent with applicable laws, regulations and rules. 
 ARTICLE VII. STOCK APPRECIATION RIGHTS. 
 7.1 SAR Agreement. Each grant of an SAR under the Plan shall be evidenced by
an SAR Agreement between the Optionee and the Company. Such SAR shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The provisions of the various SAR Agreements entered
into under the Plan need not be identical. SARs may be granted in consideration of a reduction in the Optionee’s other compensation. 
 7.2 Number of Shares. Each SAR Agreement shall specify the number of shares of Common Stock to which the SAR pertains and shall provide for the adjustment of such number in accordance with Article 11. SARs granted to any Optionee in
a single calendar year shall in no event pertain to more than 1,000,000 shares of Common Stock, except that SARs granted to a new Employee in the fiscal year of the Company in which his or her service as an Employee first commences shall not pertain
to more than 1,500,000 shares of Common Stock. The limitations set forth in the preceding sentence shall be subject to adjustment in accordance with Article 11. 
 7.3 Exercise Price. Each SAR Agreement shall specify the Exercise Price. An SAR Agreement may specify an Exercise Price that varies in accordance with a predetermined formula while the SAR is outstanding.

 7.4 Exercisability and Term. Each SAR Agreement shall specify the date when all or any installment of the SAR is to become
exercisable. The SAR Agreement shall also specify the term of the SAR. An SAR Agreement may provide for accelerated exercisability in the event of the Optionee’s death, disability or retirement or other events and may provide for expiration
prior to the end of its term in the event of the termination of the Optionee’s service. SARs may be awarded in combination with Options, and such an Award may provide that the SARs will not be exercisable unless the related Options are
forfeited. An SAR may be included in an ISO only at the time of grant but may be included in an NSO at the time of grant or thereafter. An SAR granted under the Plan may provide that it will be exercisable only in the event of a Change in Control.

 7.5 Exercise of SARs. Upon exercise of an SAR, the Optionee (or any person having the right to exercise the SAR after his or her
death) shall receive from the Company (a) shares of Common Stock, (b) cash or (c) a combination of shares of Common Stock and cash, as the Committee shall determine. The amount of cash and/or the Fair Market Value of shares of Common
Stock received upon exercise of SARs shall, in the aggregate, be equal to the amount by which the Fair Market Value (on the date of surrender) of the shares of Common Stock subject to the SARs exceeds the Exercise Price. If, on the date when an SAR
expires, the Exercise Price under such SAR is less than the Fair Market Value on such date but any portion of such SAR has not been exercised or surrendered, then such SAR shall automatically be deemed to be exercised as of such date with respect to
such portion. 
  

 5 

 7.6 Modification or Assumption of SARs. Within the limitations of the Plan, the Committee may
modify, extend or assume outstanding SARs or may accept the cancellation of outstanding SARs (whether granted by the Company or by another issuer) in return for the grant of new SARs for the same or a different number of shares and at the same or a
different exercise price. The foregoing notwithstanding, no modification of an SAR shall, without the consent of the Optionee, alter or impair his or her rights or obligations under such SAR. 
 ARTICLE VIII. RESTRICTED SHARES. 
 8.1 Restricted
Stock Agreement. Each grant of Restricted Shares under the Plan shall be evidenced by a Restricted Stock Agreement between the recipient and the Company. Such Restricted Shares shall be subject to all applicable terms of the Plan and may be
subject to any other terms that are not inconsistent with the Plan. The provisions of the various Restricted Stock Agreements entered into under the Plan need not be identical. 
 8.2 Payment for Awards. Subject to the following sentence, Restricted Shares may be sold or awarded under the Plan for such consideration as the
Committee may determine, including (without limitation) cash, cash equivalents, full-recourse promissory notes, past services and future services. To the extent that an Award consists of newly issued Restricted Shares, the consideration shall
consist exclusively of cash, cash equivalents or past services rendered to the Company (or a Parent or Subsidiary) or, for the amount in excess of the par value of such newly issued Restricted Shares, full-recourse promissory notes, as the Committee
may determine. 
 8.3 Vesting Conditions. Each Award of Restricted Shares may or may not be subject to vesting. Vesting shall occur,
in full or in installments, upon satisfaction of the conditions specified in the Restricted Stock Agreement. A Restricted Stock Agreement may provide for accelerated vesting in the event of the Participant’s death, disability or retirement or
other events. 
 8.4 Voting and Dividend Rights. The holders of Restricted Shares awarded under the Plan shall have the same voting,
dividend and other rights as the Company’s other stockholders. A Restricted Stock Agreement, however, may require that the holders of Restricted Shares invest any cash dividends received in additional Restricted Shares. Such additional
Restricted Shares shall be subject to the same conditions and restrictions as the Award with respect to which the dividends were paid. 
 ARTICLE IX.
STOCK UNITS. 
 9.1 Stock Unit Agreement. Each grant of Stock Units under the Plan shall be evidenced by a Stock Unit Agreement
between the recipient and the Company. Such Stock Units shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The provisions of the various Stock Unit Agreements entered
into under the Plan need not be identical. Stock Units may be granted in consideration of a reduction in the recipient’s other compensation. 
  

 6 

 9.2 Payment for Awards. To the extent that an Award is granted in the form of Stock Units, no cash
consideration shall be required of the Award recipients. 
 9.3 Vesting Conditions. Each Award of Stock Units may or may not be
subject to vesting. Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the Stock Unit Agreement. A Stock Unit Agreement may provide for accelerated vesting in the event of the Participant’s death,
disability or retirement or other events. 
 9.4 Voting and Dividend Rights. The holders of Stock Units shall have no voting rights.
Prior to settlement or forfeiture, any Stock Unit awarded under the Plan may, at the Committee’s discretion, carry with it a right to dividend equivalents. Such right entitles the holder to be credited with an amount equal to all cash dividends
paid on one share of Common Stock while the Stock Unit is outstanding. Dividend equivalents may be converted into additional Stock Units. Settlement of dividend equivalents may be made in the form of cash, in the form of shares of Common Stock, or
in a combination of both. Prior to distribution, any dividend equivalents which are not paid shall be subject to the same conditions and restrictions as the Stock Units to which they attach. 
 9.5 Form and Time of Settlement of Stock Units. Settlement of vested Stock Units may be made in the form of (a) cash, (b) shares of
Common Stock or (c) any combination of both, as determined by the Committee. The actual number of Stock Units eligible for settlement may be larger or smaller than the number included in the original Award, based on predetermined performance
factors. Methods of converting Stock Units into cash may include (without limitation) a method based on the average Fair Market Value of shares of Common Stock over a series of trading days. Vested Stock Units may be settled in a lump sum or in
installments. The distribution may occur or commence when all vesting conditions applicable to the Stock Units have been satisfied or have lapsed, or it may be deferred to any later date. The amount of a deferred distribution may be increased by an
interest factor or by dividend equivalents. Until an Award of Stock Units is settled, the number of such Stock Units shall be subject to adjustment pursuant to Article 11. 
 9.6 Death of Recipient. Any Stock Units Award that becomes payable after the recipient’s death shall be distributed to the recipient’s
beneficiary or beneficiaries. Each recipient of a Stock Units Award under the Plan shall designate one or more beneficiaries for this purpose by filing the prescribed form with the Company. A beneficiary designation may be changed by filing the
prescribed form with the Company at any time before the Award recipient’s death. If no beneficiary was designated or if no designated beneficiary survives the Award recipient, then any Stock Units Award that becomes payable after the
recipient’s death shall be distributed to the recipient’s estate. 
 9.7 Creditors’ Rights. A holder of Stock Units
shall have no rights other than those of a general creditor of the Company. Stock Units represent an unfunded and unsecured obligation of the Company, subject to the terms and conditions of the applicable Stock Unit Agreement. 
  

 7 

 ARTICLE X. CHANGE IN CONTROL. 
 In the event of any Change in Control, each outstanding Award shall automatically accelerate so that each such Award shall, immediately prior to the effective date of the Change in Control, become fully exercisable
for all of the shares of Common Stock at the time subject to such Award and may be exercised for any or all of those shares as fully-vested shares of Common Stock. However, an outstanding Award shall not so accelerate if and to the extent
such Award is, in connection with the Change in Control, either to be assumed by the successor corporation (or parent thereof) or to be replaced with a comparable Award for shares of the capital stock of the successor corporation (or parent
thereof). The determination of Award comparability shall be made by the Plan Administrator, and its determination shall be final, binding and conclusive. 
 The vesting acceleration provisions of Section 10.2 as in effect prior to February 14, 2008 shall remain applicable to Awards granted prior to such date. 
 ARTICLE XI. PROTECTION AGAINST DILUTION. 
 11.1
Adjustments. In the event of a subdivision of the outstanding shares of Common Stock, a declaration of a dividend payable in Common Stock or a combination or consolidation of the outstanding shares of Common Stock (by reclassification or
otherwise) into a lesser number of shares of Common Stock, corresponding adjustments shall automatically be made in each of the following: 
 (a) The number of Options, SARs, Restricted Shares and Stock Units available for future Awards under Article 3; 
 (b) The limitations set forth in Sections 5.2 and 7.2; 
 (c) The number of shares of
Common Stock covered by each outstanding Option and SAR; 
 (d) The Exercise Price under each outstanding Option and SAR; and

 (e) The number of Stock Units included in any prior Award which has not yet been settled. 
 In the event of a declaration of an extraordinary dividend payable in a form other than Common Stock in an amount that has a material effect on the price of shares of
Common Stock, a recapitalization, a spin-off or a similar occurrence, the Committee shall make such adjustments as it, in its sole discretion, deems appropriate in one or more of the foregoing. Except as provided in this Article 11, a
Participant shall have no rights by reason of any issuance by the Company of stock of any class or securities convertible into stock of any class, any subdivision or consolidation of shares of stock of any class, the payment of any stock dividend or
any other increase or decrease in the number of shares of stock of any class. 
  

 8 

 11.2 Dissolution or Liquidation. To the extent not previously exercised or settled, Options, SARs
and Stock Units shall terminate immediately prior to the dissolution or liquidation of the Company. 
 11.3 Reorganizations. In the
event that the Company is a party to a merger or other reorganization, outstanding Awards shall be subject to the agreement of merger or reorganization. Such agreement shall provide for (a) the continuation of the outstanding Awards by the
Company, if the Company is a surviving corporation, (b) the assumption of the outstanding Awards by the surviving corporation or its parent or subsidiary, (c) the substitution by the surviving corporation or its parent or subsidiary of its
own awards for the outstanding Awards, (d) full exercisability or vesting and accelerated expiration of the outstanding Awards or (e) settlement of the full value of the outstanding Awards in cash or cash equivalents followed by
cancellation of such Awards. 
 ARTICLE XII. DEFERRAL OF AWARDS. 
 The Committee (in its sole discretion) may permit or require a Participant to: 
 (a) Have
cash that otherwise would be paid to such Participant as a result of the exercise of an SAR or the settlement of Stock Units credited to a deferred compensation account established for such Participant by the Committee as an entry on the
Company’s books; 
 (b) Have shares of Common Stock that otherwise would be delivered to such Participant as a result of
the exercise of an Option or SAR converted into an equal number of Stock Units; or 
 (c) Have shares of Common Stock that
otherwise would be delivered to such Participant as a result of the exercise of an Option or SAR or the settlement of Stock Units converted into amounts credited to a deferred compensation account established for such Participant by the Committee as
an entry on the Company’s books. Such amounts shall be determined by reference to the Fair Market Value of such shares of Common Stock as of the date when they otherwise would have been delivered to such Participant. 
 A deferred compensation account established under this Article 12 may be credited with interest or other forms of investment return, as determined by the Committee.
A Participant for whom such an account is established shall have no rights other than those of a general creditor of the Company. Such an account shall represent an unfunded and unsecured obligation of the Company and shall be subject to the terms
and conditions of the applicable agreement between such Participant and the Company. If the deferral or conversion of Awards is permitted or required, the Committee (in its sole discretion) may establish rules, procedures and forms pertaining to
such Awards, including (without limitation) the settlement of deferred compensation accounts established under this Article 12. 
  

 9 

 ARTICLE XIII. AWARDS UNDER OTHER PLANS. 
 The Company may grant awards under other plans or programs. Such awards may be settled in the form of shares of Common Stock issued under this Plan. Such
shares of Common Stock shall be treated for all purposes under the Plan like shares of Common Stock issued in settlement of Stock Units and shall, when issued, reduce the number of shares of Common Stock available under Article 3. 

ARTICLE XIV. PAYMENT OF FEES IN SECURITIES. 
 14.1
Effective Date. No provision of this Article 14 shall be effective unless and until the Board has determined to implement such provision. 
 14.2 Elections to Receive NSOs, Restricted Shares or Stock Units. An Outside Director may elect to receive his or her annual retainer payments or meeting fees from the Company in the form of cash, NSOs,
Restricted Shares or Stock Units, or a combination thereof, as determined by the Board. Such NSOs, Restricted Shares and Stock Units shall be issued under the Plan. An election under this Article 14 shall be filed with the Company on the
prescribed form. 
 14.3 Number and Terms of NSOs, Restricted Shares or Stock Units. The number of NSOs, Restricted Shares or Stock
Units to be granted to Outside Directors in lieu of annual retainers or meeting fees that would otherwise be paid in cash shall be calculated in a manner determined by the Board. The Board shall also determine the terms of such NSOs, Restricted
Shares or Stock Units. 
 ARTICLE XV. LIMITATION ON RIGHTS. 
 15.1 Retention Rights. Neither the Plan nor any Award granted under the Plan shall be deemed to give any individual a right to remain an Employee, Outside Director or Consultant. The Company and its Parents,
Subsidiaries and Affiliates reserve the right to terminate the service of any Employee, Outside Director or Consultant at any time, with or without cause, subject to applicable laws, the Company’s certificate of incorporation and by-laws and a
written employment agreement (if any). 
 15.2 Stockholders’ Rights. A Participant shall have no dividend rights, voting rights
or other rights as a stockholder with respect to any shares of Common Stock covered by his or her Award prior to the time when a stock certificate for such shares of Common Stock is issued or, if applicable, the time when he or she becomes entitled
to receive such shares of Common Stock by filing any required notice of exercise and paying any required Exercise Price. No adjustment shall be made for cash dividends or other rights for which the record date is prior to such time, except as
expressly provided in the Plan. 
 15.3 Regulatory Requirements. Any other provision of the Plan notwithstanding, the obligation of
the Company to issue shares of Common Stock under the Plan shall be subject to all applicable laws, rules and regulations and such approval by any regulatory body as may be required. The Company reserves the right to restrict, in whole or in part,
the delivery of shares of Common Stock pursuant to any Award prior to the satisfaction of all legal requirements relating to the issuance of such shares of Common Stock, to their registration, qualification or listing or to an exemption from
registration, qualification or listing. 
  

 10 

 ARTICLE XVI. WITHHOLDING TAXES. 
 16.1 General. To the extent required by applicable federal, state, local or foreign law, a Participant or his or her successor shall make arrangements satisfactory to the Company for the satisfaction of any
withholding tax obligations that arise in connection with the Plan. The Company shall not be required to issue any shares of Common Stock or make any cash payment under the Plan until such obligations are satisfied. 
 16.2 Share Withholding. The Committee may permit a Participant to satisfy all or part of his or her withholding or income tax obligations by
having the Company withhold all or a portion of any shares of Common Stock that otherwise would be issued to him or her or by surrendering all or a portion of any shares of Common Stock that he or she previously acquired. Such shares of Common Stock
shall be valued at their Fair Market Value on the date when taxes otherwise would be withheld in cash. 
 ARTICLE XVII. FUTURE OF THE PLAN.

 17.1 Term of the Plan. The Plan, as set forth herein, shall become
effective the date of effectiveness of the IPO. The Plan shall remain in effect until it is terminated under Section 17.2, except that no ISOs shall be granted on or after the 10th 
anniversary of the later of (a) the date when the Board adopted the Plan or (b) the date when the Board adopted the most recent increase in the number of shares of Common Stock available under
Article 3 which was approved by the Company’s stockholders. The Plan shall serve as the successor to the Predecessor Plan, and no further option grants shall be made under the Predecessor Plan after the Plan effective date. All options
outstanding under the Predecessor Plan as of such date shall, immediately upon effectiveness of the Plan, remain outstanding in accordance with their terms. Each outstanding option under the Predecessor Plan shall continue to be governed solely by
the terms of the documents evidencing such option, and no provision of the Plan shall be deemed to affect or otherwise modify the rights or obligations of the holders of such incorporated options with respect to their acquisition of shares of Common
Stock, except that the vesting acceleration provisions of Article 10 relating to Change in Control as in effect prior to February 14, 2008 shall remain applicable to the options incorporated from the Predecessor Plan. 
 17.2 Amendment or Termination. The Board may, at any time and for any reason, amend or terminate the Plan. An amendment of the Plan shall be
subject to the approval of the Company’s stockholders only to the extent required by applicable laws, regulations or rules. No Awards shall be granted under the Plan after the termination thereof. The termination of the Plan, or any amendment
thereof, shall not affect any Award previously granted under the Plan. 
 ARTICLE XVIII. LIMITATION ON PAYMENTS. 
 18.1 Scope of Limitation. This Article 18 shall apply to an Award only if: 
 (a) The independent auditors most recently selected by the Board (the “Auditors”) determine that the after-tax value of such
Award to the Participant, taking into account the effect of all federal, state and local income taxes, employment taxes and excise taxes applicable to the Participant (including the excise tax under section 4999 of the Code), will be greater
after the application of this Article 18 than it was before the application of this Article 18; or 
  

 11 

 (b) The Committee, at the time of making an Award under the Plan or at any time
thereafter, specifies in writing that such Award shall be subject to this Article 18 (regardless of the after-tax value of such Award to the Participant). 
 18.2 Application to Award. If this Article 18 applies to an Award, it shall supersede any contrary provision of the Plan or of any Award granted under the Plan. 
 18.3 Basic Rule. In the event that the Auditors determine that any payment or transfer by the Company under the Plan to or for the benefit of a
Participant (a “Payment”) would be nondeductible by the Company for federal income tax purposes because of the provisions concerning “excess parachute payments” in section 280G of the Code, then the aggregate present value of all
Payments shall be reduced (but not below zero) to the Reduced Amount. For purposes of this Article 18, the “Reduced Amount” shall be the amount, expressed as a present value, which maximizes the aggregate present value of the Payments
without causing any Payment to be nondeductible by the Company because of section 280G of the Code. 
 18.4 Reduction of
Payments. If the Auditors determine that any Payment would be nondeductible by the Company because of section 280G of the Code, then the Company shall promptly give the Participant notice to that effect and a copy of the detailed
calculation thereof and of the Reduced Amount, and the Participant may then elect, in his or her sole discretion, which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the
Payments equals the Reduced Amount) and shall advise the Company in writing of his or her election within 10 days of receipt of notice. If no such election is made by the Participant within such 10-day period, then the Company may elect which
and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall notify the Participant promptly of such election. For purposes of this
Article 18, present value shall be determined in accordance with section 280G(d)(4) of the Code. All determinations made by the Auditors under this Article 18 shall be binding upon the Company and the Participant and shall be made
within 60 days of the date when a Payment becomes payable or transferable. As promptly as practicable following such determination and the elections hereunder, the Company shall pay or transfer to or for the benefit of the Participant such
amounts as are then due to him or her under the Plan and shall promptly pay or transfer to or for the benefit of the Participant in the future such amounts as become due to him or her under the Plan. 
 18.5 Overpayments and Underpayments. As a result of uncertainty in the application of section 280G of the Code at the time of an initial
determination by the Auditors hereunder, it is possible that Payments will have been made by the Company which should not have been made (an “Overpayment”) or that additional Payments which will not have been made by the Company could have
been made (an “Underpayment”), consistent in each case with the calculation of the Reduced Amount hereunder. In the event that the Auditors, based upon the assertion of a deficiency by the Internal Revenue Service against the Company or
the Participant which the Auditors believe has a high probability of success, determine that an Overpayment has been made, such Overpayment shall be treated for all purposes as a loan to the Participant which 

  

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he or she shall repay to the Company, together with interest at the applicable federal rate provided in section 7872(f)(2) of the Code; provided,
however, that no amount shall be payable by the Participant to the Company if and to the extent that such payment would not reduce the amount which is subject to taxation under section 4999 of the Code. In the event that the Auditors determine
that an Underpayment has occurred, such Underpayment shall promptly be paid or transferred by the Company to or for the benefit of the Participant, together with interest at the applicable federal rate provided in section 7872(f)(2) of the
Code. 
 18.6 Related Corporations. For purposes of this Article 18, the term “Company” shall include affiliated
corporations to the extent determined by the Auditors in accordance with section 280G(d)(5) of the Code. 
 ARTICLE XIX. DEFINITIONS. 
 19.1 “Affiliate” means any entity other than a Subsidiary, if the Company and/or one or more Subsidiaries own not less than 50% of such
entity. 
 19.2 “Award” means any award of an Option, an SAR, a Restricted Share or a Stock Unit under the Plan. 

19.3 “Board” means the Company’s Board of Directors, as constituted from time to time. 
 19.4 “Change in Control” shall mean: 
 (a) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if persons who were not stockholders of the Company immediately prior to such merger,
consolidation or other reorganization own immediately after such merger, consolidation or other reorganization 50% or more of the voting power of the outstanding securities of each of (i) the continuing or surviving entity and (ii) any
direct or indirect parent corporation of such continuing or surviving entity; 
 (b) The sale, transfer or other disposition
of all or substantially all of the Company’s assets; 
 (c) A change in the composition of the Board, as a result of
which fewer than 50% of the incumbent directors are directors who either (i) had been directors of the Company on the date 24 months prior to the date of the event that may constitute a Change in Control (the “original directors”) or
(ii) were elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the aggregate of the original directors who were still in office at the time of the election or nomination and the directors whose
election or nomination was previously so approved; or 
 (d) Any transaction as a result of which any person is the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing at least 50% of the total voting power represented by the Company’s then outstanding voting
securities. For purposes of this Paragraph (d), the term “person” shall have the same meaning as when used in sections 13(d) and 14(d) of the Exchange Act but shall 

  

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exclude(i) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or of a Parent or Subsidiary and (ii) a
corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the common stock of the Company. 
 A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same
proportions by the persons who held the Company’s securities immediately before such transaction. 
 19.5 “Code” means
the Internal Revenue Code of 1986, as amended. 
 19.6 “Committee” means a committee of the Board, as described in
Article 2. 
 19.7 “Common Stock” means the common stock of the Company. 
 19.8 “Company” means Equinix, Inc., a Delaware corporation. 
 19.9 “Consultant” means a consultant or adviser who provides bona fide services to the Company, a Parent, a Subsidiary or an Affiliate
as an independent contractor. Service as a Consultant shall be considered employment for all purposes of the Plan, except as provided in Section 4.1. 
 19.10 “Employee” means a common-law employee of the Company, a Parent, a Subsidiary or an Affiliate. 
 19.11 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 19.12
“Exercise Price,” in the case of an Option, means the amount for which one share of Common Stock may be purchased upon exercise of such Option, as specified in the applicable Stock Option Agreement. “Exercise Price,” in
the case of an SAR, means an amount, as specified in the applicable SAR Agreement, which is subtracted from the Fair Market Value of one share of Common Stock in determining the amount payable upon exercise of such SAR. 
 19.13 “Fair Market Value” means the market price of one share of Common Stock, determined by the Committee in good faith on such basis
as it deems appropriate. Whenever possible, the determination of Fair Market Value by the Committee shall be based on the prices reported in The Wall Street Journal. Such determination shall be conclusive and binding on all persons.

 19.14 “ISO” means an incentive stock option described in section 422(b) of the Code. 
 19.15 “NSO” means a stock option not described in sections 422 or 423 of the Code. 
 19.16 “Option” means an ISO or NSO granted under the Plan and entitling the holder to purchase shares of Common Stock. 
  

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 19.17 “Optionee” means an individual or estate who holds an Option or SAR. 

19.18 “Outside Director” shall mean a member of the Board who is not an Employee. Service as an Outside Director shall be considered
employment for all purposes of the Plan, except as provided in Section 4.1. 
 19.19 “Parent” means any corporation
(other than the Company) in an unbroken chain of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the
other corporations in such chain. A corporation that attains the status of a Parent on a date after the adoption of the Plan shall be considered a Parent commencing as of such date. 
 19.20 “Participant” means an individual or estate who holds an Award. 
 19.21 “Plan” means this Equinix, Inc. 2000 Equity Incentive Plan, as amended from time to time. 
 19.22 “Predecessor Plan” means the Company’s existing 1998 Stock Option Plan. 
 19.23 “Restricted Share” means a share of Common Stock awarded under the Plan. 
 19.24 “Restricted Stock Agreement” means the agreement between the Company and the recipient of a Restricted Share which contains the
terms, conditions and restrictions pertaining to such Restricted Share. 
 19.25 “SAR” means a stock appreciation right
granted under the Plan. 
 19.26 “SAR Agreement” means the agreement between the Company and an Optionee which contains the
terms, conditions and restrictions pertaining to his or her SAR. 
 19.27 “Stock Option Agreement” means the agreement
between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to his or her Option. 
 19.28
“Stock Unit” means a bookkeeping entry representing the equivalent of one share of Common Stock, as awarded under the Plan. 
 19.29 “Stock Unit Agreement” means the agreement between the Company and the recipient of a Stock Unit which contains the terms, conditions and restrictions pertaining to such Stock Unit. 
 19.30 “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company, if
each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation that attains
the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 
  

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 Plan History 
 12/4/07 Amendment to Section 3.2 
 1/31/08 Amendment to Section 11.1 
 2/14/08 Amendment to remove Section 10.2 
  

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