Description of Infoblox Bonus Plan - FY2013

Contract Categories: Human Resources - Bonus & Incentive Agreements
EX-10.16 2 d410825dex1016.htm DESCRIPTION OF INFOBLOX BONUS PLAN - FY 2013 Description of Infoblox Bonus Plan - FY 2013

Exhibit 10.16

Description of Infoblox Bonus Plan - FY2013

On September 5, 2012, the Compensation Committee (the “Committee”) of the Board of Directors of Infoblox Inc. (the “Company”) approved the Infoblox Bonus Plan-FY 2013 (“Bonus Plan”) for certain of the Company’s executive officers. The Committee also approved target bonus amounts for Robert D. Thomas, the Company’s Chief Executive Officer, and Remo E. Canessa, the Company’s Chief Financial Officer, of $327,250 and $140,000, respectively, under the Bonus Plan.

The Bonus Plan is designed to reward participants if the Company achieves certain on-target performance objectives on a quarterly basis. Under the Bonus Plan, participants are eligible to receive (i) up to four quarterly bonuses, each targeted at an amount equal to 20% of the participant’s total annual on-target bonus amount, in each case based on attainment of quarterly performance objectives derived from the Company’s financial plan and quarterly forecasts for revenue and operating profit, and (ii) one annual bonus targeted at an amount equal to 20% of the participant’s total annual on-target bonus amount based on the attainment of a pre-determined participant retention goal. Quarterly performance objectives under the Bonus Plan are approved by the Committee on a quarterly basis, at the beginning of each quarter.

The actual bonus payment is the on-target bonus payment multiplied by a percentage (which may be more or less than 100% but shall not exceed 125%) that varies depending upon achievement of the applicable performance objectives. If results for the threshold level of performance required for a payout equal to 25% of on-target bonus amounts are not met, the funding level for the award for that quarter will be 0%, and participants will be paid no bonus payment for that quarter. Additional payouts funded at levels higher than 25% of the on-target bonus amount will be paid only if the level of performance required for the applicable payout was met or exceeded.