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Exhibit 10.24
E XTREME N ETWORKS
Extreme Executive Incentive
Plan
Effective July 1,
2009
Plan Objective:
The objective of the Executive
Incentive Plan (“EIP”) is to attract, retain, motivate
and reward executives of the Company for driving the Company to
achieve specific corporate objectives.
Plan Summary:
The EIP is a cash-based bonus
program that provides payouts which are earned based on corporate
achievement of pre-established objectives.
Plan Funding:
The EIP is funded based on the
achievement of certain revenue and operating profit objectives (the
“Executive Bonus Pool”).
Eligible Employees:
All Executive Officers (Including
the Senior Vice President of Worldwide Sales (“SVP
Sales”)) and all other executives holding a title of VP who
are not on a commission plan (“the Executives”) are
eligible for the EIP. In order to earn a bonus under the EIP,
Executives must have been employed by Extreme for a minimum of one
full fiscal quarter, and Executives must be employed by Extreme
Networks, or one of its subsidiaries, o
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