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EX-10.1 - EXECUTIVE OFFICER BONUS PLAN, AS AMENDED. - ARUBA NETWORKS, INC. | rrd286831_32976.htm |
Delaware
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02-0579097
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
On September 16, 2010, the Compensation Committee (the "Committee") of the Board of Directors of Aruba Networks, Inc. (the "Company") approved certain amendments to the Company's Executive Officer Bonus Plan (the "Plan"), effective immediately. The Plan was originally approved by the Committee in December 2009 and offers the Company's executive officers the opportunity to earn bonuses based on the achievement of specified performance targets during each performance period. As previously disclosed, each executive officer has been assigned a targeted bonus value for each performance period under the Plan, set as a percentage of his base salary for the performance period (described below). The executive officer may earn more or less than his targeted value based on the extent to which achievement of the specified performance goals result in the funding of a bonus pool. The bonus pool is funded based upon the extent to which the Company meets the profit and revenue targets under the Board-approved internal operating plan for the applicable fiscal year.
The Plan has been amended primarily (1) to increase the target percentage of the Company's Chief Financial Officer from 75% to 100%, (2) to increase the target percentage of the Company's Chief Technology Officer from 50% to 75%, (3) to increase from 90% to 97.5% the minimum level at which the revenue target must be met in order to fund the bonus pool and (4) to increase from 110% to 112.5% the level above which the revenue target must be met in order for each participant to receive his maximum target amount.
A copy of the Plan is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
10.1 Executive Officer Bonus Plan, as amended.
ARUBA NETWORKS, INC.
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Date: September 22, 2010
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By:
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/s/ Alexa King
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Alexa King
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Vice President, Legal and General Counsel
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Exhibit No.
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Description
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EX-10.1
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Executive Officer Bonus Plan, as amended.
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