Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On September 20, 2021, Equinix, Inc. (the "Company") entered into a retention
and separation agreement with Sara Baack, Chief Product Officer of the Company
(the "Agreement"). Pursuant to the terms of the Agreement, Ms. Baack will
transition from her role of Chief Product Officer after September 24, 2021 and
will serve in an advisory capacity to Equinix's Chief Executive Officer until
March 2, 2022. During this transition period, Ms. Baack will be entitled to her
regular salary and benefits. In addition, Ms. Baack will be paid additional
compensation and benefits described in the Agreement, including: (i) 100% of her
target annual incentive plan bonus for 2021; (ii) a one-time lump sum cash
payment of $500,000 and (iii) premium payments under the Consolidated Omnibus
Budget Reconciliation Act ("COBRA") through 2022. The Agreement also includes
and references customary releases, representations, restrictive covenants,
non-disparagement and confidentiality provisions.
The foregoing description is not a complete description of the Agreement and is
qualified in its entirety by reference to the full text of the Agreement, a copy
of which will be filed with the Company's Form 10-Q for the quarter ended
September 30, 2021.
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