IRON MOUNTAIN INC/PA
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font SIZE=2>EXHIBIT 10.3</font></p>

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<p style=' margin-bottom:6.95pt; margin-top:0pt;text-align:left;'><i><font size=2>Summary Description of Incentive Compensation Arrangement for Iron Mountain Incorporated&#146;s Executive Officers</font></i></p>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iron
Mountain Incorporated (the &#147;Company&#148;) has an incentive compensation arrangement
for executive officers that is unwritten and informal.  It is generally set during the
first three months of the fiscal year for that fiscal year.&nbsp; Criteria, such as gross
revenues and Operating Income Before Depreciation and Amortization (OIBDA), are selected,
and targets for such criteria are selected.&nbsp; Bonuses ranging from 30% to 100% of the
executive officer&#146;s base salary are paid, depending on targets being met at various
levels, following the end of the fiscal year.&nbsp; The targets for criteria are adjusted
by management during the year for acquisitions and other major unbudgeted events.  The
criteria set for fiscal year 2005 are gross revenues, OIBDA and a discretionary element.  </FONT></P>

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