SECURITIES AND EXCHANGE COMMISSION
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|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.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|DATE: September 23, 2021||By:||/s/ KEITH D. TAYLOR|
|Keith D. Taylor|
|Chief Financial Officer|