Document:

Offer letter to Mark S. Smith

 Exhibit 10.13 
 

 
 October 21, 2004 
 Mr. Mark Smith 
 Dear Mark: 
 Infoblox, Inc. (the “Company”) is pleased to offer you employment on the following terms: 
 1. Position. Your title will be Vice President, Sales, and you will initially report to the Company’s Chief Executive Officer. This is a full-time position. While you render services to the
Company, you will not engage in any other employment, consulting or other business activity that would create a conflict of interest with the Company. By signing this letter agreement, you confirm to the Company that you have no contractual
commitments or other legal obligations that would prohibit you from performing your duties for the Company. 
 2. Cash Compensation. The
Company will pay you a starting salary at the rate of $200,000 per year, payable in accordance with the Company’s standard payroll schedule. This salary will be subject to adjustment pursuant to the Company’s employee compensation policies
in effect from time to time. In addition, you will be eligible to be considered for an incentive bonus and/or sales commission for each fiscal year of the Company. The bonus and/or commission (if any) will be awarded based on criteria established in
advance by the Company’s Board of Directors (the “Board”). Your target bonus and/or commission will be equal to $175,000. The bonus and/or commission for a fiscal year or quarter will be paid after the Company’s books for that
year or quarter have been closed and will be paid only if you are employed by the Company at the end of the fiscal year or quarter, as applicable. The determinations of the Board with respect to your bonus and/or commission will be final and
binding. 
 3. Employee Benefits. As a regular employee of the Company, you will be eligible to participate in a number of
Company-sponsored benefits. In addition, you will be entitled to paid vacation in accordance with the Company’s vacation policy, as in effect from time to time. 
 4. Stock Options. Subject to the approval of the Board, you will be granted an option to purchase 1,330,000 shares of the Company’s Common Stock. The exercise price per share will be equal to
the fair market value per share on the date the option is granted or on your first day of employment, whichever is later. The option will be subject to the terms and conditions applicable to options granted under the Company’s 2003 Stock Plan
(the “Plan”), as described in the Plan and the applicable stock option agreement. The option will be immediately exercisable, but the unvested portion of the purchased shares will be subject to repurchase by the Company at the exercise
price in the 
  

			
	Infoblox Employment Offer	  	Company Proprietary & Confidential

 Mr. Mark Smith 
 October 21, 2004 
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event that your service terminates for any reason before you vest in the shares. You will vest in 25% of the option shares after 12 months of continuous service, and the balance will vest in
equal monthly installments over the next 36 months of continuous service, as described in the applicable stock option agreement. 
 If the
Company is subject to a Change in Control (as defined in the Plan) before your service with the Company terminates and you are subject to an Involuntary Termination within 12 months after that Change in Control, then you will be vested in the shares
purchasable under the option described in this Section 4 as if you had completed an additional 24 months of employment. 
 “Involuntary
Termination” means either (a) involuntary discharge by the Company for reasons other than Cause or (b) voluntary resignation following (i) a change in your position with the Company that materially reduces your level of authority
or responsibility, (ii) a reduction in your base salary by more than 10% or (iii) receipt of notice that your principal workplace will be relocated more than 35 miles. 
 “Cause” means (a) an unauthorized use or disclosure of the Company’s confidential information or trade secrets, which use or disclosure causes material harm to the Company, (b) a
material breach of any agreement between you and the Company, (c) a material failure to comply with the Company’s written policies or rules, (d) conviction of, or plea of “guilty” or “no contest” to, a felony under
the laws of the United States or any state thereof, (e) gross misconduct or (f) a continued failure to perform assigned duties after receiving written notification of such failure from the Board. 

5. Severance Pay. If the Company terminates your employment for any reason other than Cause or Permanent Disability, then the Company will
continue to pay your base salary for a period of 6 months following the termination of your employment and will vest you in your option shares as if you had continued in employment for 6 additional months. Your base salary will be paid at the rate
in effect at the time of the termination of your employment and in accordance with the Company’s standard payroll procedures. If you elect to continue your health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act
(“COBRA”) following the termination of your employment, then the Company will pay the same portion of your monthly premium under COBRA as it pays for active employees until the earliest of (a) the close of the 6-month period following
the termination of your employment, (b) the expiration of your continuation coverage under COBRA or (c) the date you become eligible for substantially equivalent health insurance coverage in connection with new employment. 

However, this Paragraph 5 will not apply unless you (a) resign as a member of the boards of directors of the Company and all of its subsidiaries, to
the extent applicable, (b) sign a general release of claims (in a form prescribed by the Company) of all known and unknown claims that you may then have against the Company or persons affiliated with the Company and (c) have returned all
Company property. Moreover, the amount of the salary continuation payments under this Paragraph 5 will be reduced by the amount of any severance pay or pay in lieu of notice that you receive from the Company under a federal or state statute
(including, 
  

			
	Infoblox Employment Offer	  	Company Proprietary & Confidential

 Mr. Mark Smith 
 October 21, 2004 
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without limitation, the WARN Act). 
 “Permanent Disability” means that you are
unable to perform the essential functions of your position, with or without reasonable accommodation, for a period of at least 120 consecutive days because of a physical or mental impairment. 
 6. Proprietary Information and Inventions Agreement. Like all Company employees, you will be required, as a condition of your employment with the Company, to sign the Company’s standard
Proprietary Information and Inventions Agreement, a copy of which is attached hereto as Exhibit A. 
 7. Employment Relationship.
Employment with the Company is for no specific period of time. Your employment with the Company will be “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause.
Any contrary representations that may have been made to you are superseded by this letter agreement. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as
well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the
Company (other than you). 
 8. Withholding Taxes. All forms of compensation referred to in this letter agreement are subject to
reduction to reflect applicable withholding and payroll taxes and other deductions required by law. 
 9. Interpretation, Amendment and
Enforcement. This letter agreement and Exhibit A constitute the complete agreement between you and the Company, contain all of the terms of your employment with the Company and supersede any prior agreements, representations or understandings
(whether written, oral or implied) between you and the Company. This letter agreement may not be amended or modified, except by an express written agreement signed by both you and a duly authorized officer of the Company. The terms of this letter
agreement and the resolution of any disputes as to the meaning, effect, performance or validity of this letter agreement or arising out of, related to, or in any way connected with, this letter agreement, your employment with the Company or any
other relationship between you and the Company (the “Disputes”) will be governed by California law, excluding law relating to conflicts or choice of law. You and the Company submit to the exclusive personal jurisdiction of the federal and
state courts located in California in connection with any Dispute or any claim related to any Dispute. 
  

			
	Infoblox Employment Offer	  	Company Proprietary & Confidential

 Mr. Mark Smith 
 October 21, 2004 
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 We hope that you will accept our offer to join the Company. You may indicate your agreement with these
terms and accept this offer by signing and dating both the enclosed duplicate original of this letter agreement and the enclosed Proprietary Information and Inventions Agreement and returning them to me. This offer, if not accepted, will expire at
the close of business on November 4, 2004. As required by law, your employment with the Company is contingent upon your providing legal proof of your identity and authorization to work in the United States. Your employment is also contingent
upon your starting work with the Company on or before January 17, 2005. 
 Very truly yours, 

 

			
	INFOBLOX INC.
		
	By:	 	 /s/ Robert Thomas

	Robert Thomas: President and Chief Executive Officer

 I have read and accept this employment offer: 

 

			
	 /s/ Mark Smith

	Signature of Mark Smith
		
	Dated:	 	 11-3-04

 Attachment 

Exhibit A: Proprietary Information and Inventions Agreement 
  

			
	Infoblox Employment Offer	  	Company Proprietary & Confidential

 

 
 December 8, 2008 
 Mark Smith 
 Dear Mark: 
 You and Infoblox, Inc. (the “Company”) signed an offer letter dated October 21, 2004 (the “Offer Letter”). To avoid potential adverse tax consequences imposed by Section 409A
of the Internal Revenue Code of 1986, as amended (the “Code”), the Offer Letter is hereby amended by inserting the following new provisions at the end of Section 5 of the Offer Letter: 

Separation from Service. Wherever this letter agreement refers to a termination of employment or similar event,
including (without limitation) a termination without Cause, the reference will be construed as a Separation. For all purposes under this letter agreement, “Separation” means a “separation from service,” as defined in the
regulations under Section 409A of the Code. This paragraph supersedes any contrary provision of this letter agreement. 
 Commencement of Severance Payments. Payment of the periodic salary continuation severance pay provided for under Section 5 will begin on the first regularly scheduled payroll date that occurs
after your Separation, but payments will cease if you have not complied with the release and other preconditions set forth in the second paragraph of Section 5 within the time period set forth in the release. For purposes of Section 409A
of the Code, each salary continuation payment under Section 5 is hereby designated as a separate payment. 

Release. The Company will deliver the release referred to in Section 5 to you within 30 days after your
Separation. You must execute and return the release within the period of time set forth in the form of release. 

Mandatory Deferral of Payments. If the Company determines that you are a “specified employee” under
Section 409A(a)(2)(B)(i) of the Internal Revenue Code at the time of your Separation, then the severance pay under Section 5, to the extent subject to Section 409A of the Code, will be paid in a lump sum on the first payroll period in
the seventh month after your Separation. If applicable, this paragraph supersedes any contrary provision of this letter agreement. 
 Except as expressly set forth above, the Offer Letter will remain in effect without change. 

 You may indicate your agreement with this amendment of the Offer Letter by signing and
dating the enclosed duplicate original of this amendment and returning it to me. This amendment may be executed in two counterparts, each of which will be deemed an original, but both of which together will constitute one and the same instrument.

  

					
	Very truly yours,
	
	INFOBLOX, INC.
		
	By:	 	 /s/ Jane Funk

	Title:	 	 12/15/08

  

			
	 I have read and accept this amendment:

	
	 /s/ Mark Smith

	 Mark Smith

		
	 Dated:
	 	 12/15/08

  

			
	Infoblox Employment Offer	  	Company Proprietary & ConfidentialInfoblox Bonus Plan - FY 2011

 Exhibit 10.14 
 INFOBLOX BONUS PLAN – FY 2011 
 The Infoblox 2011 Bonus Plan is intended to incent
superior performance by Infoblox employees, and to reward Infoblox employees for their contribution to the Company’s success during FY 2011. The details of the plan are as follows: 

 

	 	•	 	 The Plan covers all Infoblox employees except employees receiving commission or other sales compensation. 

 

	 	•	 	 The FY 2011 bonus will be based on attainment or over achievement of one or more quarterly performance targets based on revenue, net cash flow,
bookings, operating profitability or other company performance measures as determined by the CEO/CFO. Bonus targets will be established at the start of each quarter as practicably possible and will be communicated by the CEO/CFO.

  

	 	•	 	 Plan payout for FY2011 will be quarterly based on attainment or over achievement of the performance target/s as reported by the CEO/CFO at the end of
each quarter. Payouts may be adjusted, suspended or deferred due to unforeseen developments which in management’s judgment would cause bonus payouts to be deemed inappropriate for the Company’s current financial position/performance.

 Eligibility: New hires are eligible to participate in the Infoblox Bonus Program in the quarter in which they are
hired. The targeted bonus payment that will be awarded to a participant of the plan for a partial plan quarter shall be multiplied by a factor as follows: the number of days of active participation divided by days in the quarter. 

Award Calculation and Payment: Payment will generally be paid as soon as practicably possible, generally on the last day of the month following
quarter close. International employees will be compensated in local currency at the prevailing exchange rate at the time of payment. Bonus payments under this plan will be paid in cash and subject to applicable withholding taxes. 

Termination/Disability: Except for termination due to death or total and permanent disability, or retirement with the consent of the company, no
bonus payment will be paid to an eligible participant who is not actively employed on the date such bonus is paid. The only exception to this being, those employees who have been out or are out at time of bonus payment on temporary disability,
family leave or other approved leave. For those employees, any eligible participant who has been or is on leave for greater than 30 business days during the quarter or year which the bonus applies to, the bonus will be prorated for the days over 30
days that were missed due to disability or family leave. 
 For example, a person on leave from Sept 1 to Nov 30, three months, would be
eligible for 1/3rd of the bonus paid for Q1, 2/3rd of the bonus paid for Q2. 
 If the employee has returned to work in a part time
capacity, eligible bonuses will be paid to the employee on a pro-rata basis. Please note, however, that any return to work on a part-time basis is subject to approval by the employee’s manager. 

 Continuing the scenario, if the employee returns to work on a part-time basis (three days per week) for the
period Sept 1 through Nov 30, the employee would be eligible for 20% of the Q2 bonus (out of work for two months of the quarter and at work for 3 days a week for one month of the quarter equals 3/5ths of the bonus to be paid for one month, or 1/5th
of the bonus to be paid for the entire quarter). 
 Ethical and Legal Standards: Each Infoblox employee is required at all times to
comply with the Infoblox Code of Business Ethics and Conduct and all other Infoblox policies. In accordance with Infoblox’s employee policies, no Infoblox employee shall pay, offer to pay or give any of his/her incentive compensation or any
other money to any agent, customer or representative of the customer or any other person as an inducement or reward for assistance in making a sale. 
 Gifts and entertainment above a nominal amount shall not be given to customers, agents or representatives except in accordance with current Infoblox policies and procedures. 

Any infraction of this policy, or of ethical business standards, will subject an employee to disciplinary action (including possible termination) and
revocation of any incentive compensation as provided by this or any other Plan to which the employee would otherwise be entitled. 
 At Will
Employment: The Infoblox Bonus Plan is not a contract between Infoblox and any participant. Noting in the Infoblox Bonus Plan will be construed to change or alter the at will nature of participant’s employment; Infoblox reserves the right
to terminate any participant’s employment at any time, for any reason whatsoever, with or without cause. 
 Modifications: The Plan
may be modified or terminated at the sole discretion of Infoblox at any time, to be effective upon written notice of modification(s) to the participants. All changes are effective as stated in the specific change notice. An email memo is an
acceptable way to communicate these changes. 
 Exceptions: The CEO and CFO must approve any and all exceptions to the Plan. 

  
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