Sales Compensation Plan by Digital Realty Trust, L.P.
Company: Digital Realty Trust, L.P.
SEC CIK: 1494877
SEC Type: EX-10.3
SIC Code: 6500
SIC Industry: REAL ESTATE
Date Filed: 2012-05-07
Sales Compensation Plan
Head of Sales FY11 Incentive Plan
Effective Date: January 1, 2011
End Date: December 31, 2011
The terms and conditions of the Digital Realty Trust L.P. (the Company) Sales Compensation Plan (the SCP or Plan) are set forth below. For purposes of the Plan, the term Company shall also include Digital Realty Trust, Inc. and any subsidiary or affiliate of Digital Realty Trust, Inc. or Digital Realty Trust, L.P. (including, without limitation, DLR, LLC), as the context requires. As of the Effective Date, the SCP replaces and supersedes all previous Company sales compensation plans and policies and all other previous oral or written statements, promises or agreements regarding the subject matter of the SCP. The SCP applies to all commissions earned while the SCP is in effect. The Company retains the right to modify, amend, revoke, suspend, terminate or change any part of the SCP at any time, without advance notice, in the sole, unfettered discretion of the Company. The terms of the SCP may not be altered or amended except in writing as approved by the Companys Chief Executive Officer. All administration, decisions, calculations and interpretations under the SCP are made by the Company in its sole, unfettered discretion and shall be conclusive and binding on all participants.
The purpose of the 2011 Incentive Plan is to reward and motivate achievement of assigned sales objectives. Every person plays a key role in the achievement of these objectives, which have been tailored to your specific role. Quotas have been assigned to ensure company and individual success are aligned, and the payout levels have been set to provide motivational and competitive levels of compensation.
The purpose of the 2011 Incentive Plan is to reward and motivate achievement of assigned sales objectives.
I. Annualized Closed Contract Value (Quota)
I. Annualized Contract Value (100%)
Terms and Conditions
The following section details the terms and conditions that govern the payouts of the incentive plan.
The Global Sales Organization is the leading datacenter solutions provider to the Global 4000, Systems Integrators and managed services providers. This plan is designed to motivate the sales team to pro-actively engage these types of companies and to position the Company as the leading datacenter solutions provider.
Participation in the SCP is limited to employees who have received a copy of this SCP that has been signed by him or her and bears an original signature by the Companys Chief Executive Officer. Participant may be removed from participation at any time in the sole, unfettered discretion of the Company.
Unless otherwise allowed by the Company in its sole, unfettered discretion, the Head of Sales (Participant) must be classified by the Company as a regular full-time employee in a sales position at the time a lease is Executed to be eligible to earn incentives on that lease.
|I Agree to this Amendment for 2011||Participant Initial|
A lease is Executed if it has been duly and validly executed by the lessee and the Company and delivered to the Company.
A Participant is not eligible to earn incentives on a lease Executed after the Participant ceases to be a full-time employee for any reason. In addition, a Participant is not eligible to earn the Lease Commencement Incentive (as defined in the section entitled Payment of Incentives hereof) on any lease that Commences after the Participant ceases to be a full-time employee, for any reason.
If a Participant is on a Leave of Absence, the Participant is eligible to earn incentives on leases Executed prior to the start of the Leave of Absence. Leaves of Absences are defined in the Companys policies.
The Company may determine that a Participant on a Leave of Absence is eligible to earn a full or partial incentive on a lease Executed while the Participant is on the Leave of Absence. (See Incentive Allocation.)
Any person who is not an employee of the Company, including but not limited to family members, is prohibited from performing work on behalf of the Company and shall have no rights under this Plan.
All Participants shall be required to comply with the Companys policies and procedures and applicable law to be eligible to participate in the SCP. If a Participant fails to adhere to the terms of any Company policy or procedure, the Participant will be subject to discipline, up to and including ineligibility to earn incentives on the lease(s) in question, removal from the SCP, and/or termination of employment.
For the Plan year, the Participant will be required to meet the Quota outlined in Appendix A.