<PAGE>

                                                                   EXHIBIT 10.14
                                MYLEX CORPORATION

                        1998 EMPLOYEE STOCK PURCHASE PLAN


         The Mylex Corporation 1998 Employee Stock Purchase Plan (the "Plan")
shall be established and operated in accordance with the following terms and
conditions.

1.       DEFINITIONS:

         As used in the Plan the following terms shall have the meanings set
forth below:

         (a) "BOARD" means the Board of Directors of the Company.

         (b) "CODE" means the Internal Revenue Code of 1986, as amended.

         (c) "COMMITTEE" means the committee appointed by the Board to
administer the Plan, as described in Section 4 below.

         (d) "COMMON STOCK" means the Common Stock of the Company.

         (e) "COMPANY" means Mylex Corporation, a Delaware corporation.

         (f) "CONTINUOUS EMPLOYMENT" means the absence of any interruption or
termination of service as an Employee with the Company and/or its Participating
Subsidiaries. Continuous Employment shall not be considered interrupted in the
case of a leave of absence agreed to in writing by the Company, provided that
such leave is for a period of not more than sixty (60) days or reemployment upon
the expiration of such leave is guaranteed by contract or statute.

         (g) "ELIGIBLE COMPENSATION" means, with respect to each Participant for
each pay period, the full salary and wages paid to such Participant by the
Company or a Participating Subsidiary, including commissions, bonuses and
overtime pay. Except as otherwise determined by the Committee, "Eligible
Compensation" does not include:

             (i)   any amounts contributed by the Company or a Participating 
         Subsidiary to any pension plan or plan of deferred compensation;

             (ii)  any automobile or relocation allowance (or reimbursement 
         for any such expenses);

             (iii) any amounts paid as a starting bonus or finder's fee;

             (iv)  any amounts realized from the exercise of qualified or 
         non-qualified stock options;

             (v)   any amounts paid by the Company or a Participating 
         Subsidiary for other fringe benefits, such as health care, 
         hospitalization and group life insurance benefits, or perquisites, 
         or paid in lieu of such benefits or perquisites, such as cash-out of 
         credit generated under a plan qualified under Code Section 125;

<PAGE>

             (vi)  other similar forms of extraordinary compensation; or

             (vii) any Participant's commissions, bonus or overtime pay to
         the extent such Participant has elected to exclude, in a writing
         acceptable to the Committee, such compensation from his or her Eligible
         Compensation.

         (h) "ELIGIBLE EMPLOYEE" means an Employee who is eligible to
participate in the Plan, as described in Section 5 below.

         (i) "EMPLOYEE" means any person, including an officer, who is
customarily employed for at least twenty (20) hours per week and more than five
(5) months in a calendar year by the Company or one of its Participating
Subsidiaries.

         (j) "ENROLLMENT DATE" means December 16, 1998, for the first Offering
Period under the Plan and, thereafter, the first day of each Offering Period.

         (k) "EXERCISE DATE" means the last Trading Day of each Offering Period.

         (l) "EXERCISE PRICE" means the price per share of shares offered in a
given Offering Period determined as provided in Section 10 below.

         (m) "FAIR MARKET VALUE" means, with respect to a share of Common Stock
as of any date, the last sale price of such Common Stock on the NASDAQ-NMS on
such date, as reported in the Wall Street Journal. In the event that such price
is not available for an Enrollment Date or an Exercise Date, the Fair Market
Value of a share of Common Stock on such date shall be the last sale price of a
share of the Common Stock on the NASDAQ-NMS on the last business day prior to
such date or such other amount as may be determined by the Committee by any fair
and reasonable means.

         (n) "NASDAQ-NMS" means the National Association of Securities Dealers,
Inc. Automated Quotation National Market System.

         (o) "OFFERING PERIOD" means the period during which an option granted
pursuant to the Plan may be exercised. Except as modified in accordance with the
provisions of Section 6 below, each offering period shall be approximately six
(6) months in duration. A new Offering Period shall begin on the first Trading
Day on or after each June 1 and December 1 (December 16, 1998, for the first
Offering Period) and ending on the last Trading Day in the period on or before
November 30 or May 31.

         (p) "PARTICIPANT" means an Eligible Employee who has elected to
participate in the Plan by filing an enrollment agreement with the Company, as
provided in Section 7 below.

         (q) "PARTICIPATING SUBSIDIARY" means any Subsidiary other than a
Subsidiary excluded from participating in the Plan by the Committee, in its sole
discretion.

         (r) "PLAN" means this Mylex Corporation 1998 Employee Stock Purchase 
Plan.

         (s) "SUBSIDIARY" means any corporation, domestic or foreign, of which
the Company owns, 



                                       2
<PAGE>

directly or indirectly, not less than 50% of the total combined voting power of 
all classes of stock or other equity interests and that otherwise qualifies as 
a "subsidiary corporation" within the meaning of Section 424(f) of the Code or 
any successor thereto.

         (t) "Trading Day" shall mean a day on which national stock exchanges
and the NASDAQ System are open for trading.

         (u) "1934 ACT" means the Securities Exchange Act of 1934, as amended.

2.       PURPOSE OF THE PLAN

         The purpose of the Plan is to provide present and future employees of
the Company and its Participating Subsidiaries an incentive in the performance
of their services by giving them an opportunity to acquire a proprietary
interest (or increase an existing proprietary interest) in the Company through
the purchase of Common Stock and to profit from increases in the value of the
Common Stock. It is the intention of the Company that the Plan qualify as an
"employee stock purchase plan" under Section 423 of the Code. Accordingly, the
provisions of the Plan shall be administered, interpreted and construed in a
manner consistent with the requirements of that section of the Code.

3.       SHARES RESERVED FOR THE PLAN

         There shall be reserved for issuance and purchase by Employees under
the Plan an aggregate of 500,000 shares of Common Stock, subject to adjustment
as provided in Section 15 below. Shares of Common Stock, subject to the Plan may
be newly issued shares or shares reacquired in private transactions or open
market purchases. If and to the extent that any right to purchase reserved
shares shall not be exercised by any Employee for any reason or if such right to
purchase shall terminate as provided herein, shares that have not been so
purchased hereunder shall again become available for the purposes of the Plan
unless the Plan shall have been terminated, but all shares sold under the Plan,
regardless of source, shall be counted against the limitation set forth above.

4.       ADMINISTRATION OF THE PLAN

         (a) The Plan shall be administered by a Committee appointed by, and
which shall serve at the pleasure of, the Board. However, the Board may elect to
function as the Committee. The Committee shall consist of not less than two
members of the Board who are not officers or employees of the Company or of any
of its Subsidiaries. The Committee shall have authority to interpret the Plan,
to prescribe, amend and rescind rules and regulations relating to the Plan, and
to make all determinations necessary or advisable for the administration of the
Plan, all of which actions and determinations shall be final, conclusive and
binding on all persons.

         (b) The Committee may request advice or assistance or employ such other
persons as it in its absolute discretion deems necessary or appropriate for the
proper administration of the Plan, including, without limitation, employing a
brokerage firm, bank or other financial institution to assist in the purchase of
shares hereunder, delivery of reports or other administrative aspects of the
Plan.



                                       3
<PAGE>

5.       ELIGIBILITY TO PARTICIPATE IN THE PLAN

         Subject to the provisions of the Plan and any limitations imposed by
any future amendments to Section 423(b) of the Code (or successor provisions),
any person who, as of an Enrollment Date, is an Employee of the Company or a
Participating Subsidiary (after it becomes a Participating Subsidiary) shall be
eligible to participate in the Plan for the Offering Period beginning on that
Enrollment Date.

6.       OFFERING PERIODS

         Shares shall be available for purchase under the Plan during
consecutive Offering Periods, with the first Offering Period commencing on
December 16, 1998, and, thereafter, with a new Offering Period commencing on
each June 1 and December 1 during the term of the Plan, or as otherwise
determined by the Committee. The Committee shall have the power to change the
duration of the Offering Periods, after the first Offering Period, from time to
time, without shareholder approval if such change is announced to all Eligible
Employees at least fifteen (15) days prior to the scheduled beginning of the
first Offering Period to be so affected.

7.       ELECTION TO PARTICIPATE IN THE PLAN

         (a) Each Eligible Employee may elect to participate in the Plan with
respect to an Offering Period by completing an enrollment agreement in the form
provided by the Company and filing such enrollment agreement with the Company
prior to the applicable Enrollment Date, unless another time for filing the
enrollment form with respect to a given Offering Period is set by the Committee.

         (b) All Participant purchases pursuant to the Plan shall be made only
by the proceeds of payroll deductions. Payroll deductions for a Participant
shall commence on the first payroll date following his or her Enrollment Date
and shall end on the last payroll date in the applicable Offering Period, unless
sooner terminated by the Participant as provided in Section 12 below.

         (c) Unless an Eligible Employee elects otherwise prior to the
Enrollment Date for any Offering Period by submitting to the Company a form
provided by the Company for such purpose, such Eligible Employee, if he or she
is participating in the immediately preceding Offering Period (the "Prior
Offering Period") as of such Enrollment Date, shall be deemed to have (i)
elected to participate in such Offering Period, and (ii) authorized the same
payroll deduction for such Offering Period as was in effect for such Eligible
Employee, as of such Enrollment Date, for the Prior Offering Period.

         (d) The Committee, in its discretion, may terminate the participation
of all Participants in any Offering Period as of the last day of any Offering
Period (a "Termination Date") and, upon the occurrence of such a termination,
such Participant shall be automatically enrolled, as described below, in the new
Offering Period commencing immediately following such Termination Date if the
Exercise Price determined as of the Enrollment Date for such new Offering Period
is lower than the Exercise Price determined as of the Enrollment Date of the
Offering Period for which the Participants' participation is being terminated.
In such event, each of such Participants shall be deemed for purposes of this
Plan to have (i) elected to participate in such new Offering Period, and (ii)
authorized the same payroll deduction for such new Offering Period as was in
effect for such Participant immediately prior to the Termination Date.

8.       PAYROLL DEDUCTIONS



                                       4
<PAGE>

         (a) At the time a Participant files the enrollment agreement with
respect to an Offering Period, the Participant shall authorize payroll
deductions to be made on each payroll date during the Offering Period in an
amount of from 1% to 10% of the Eligible Compensation which the Participant
receives on such payroll date. The amount of such payroll deductions shall be a
whole percentage (i.e., 1%, 2%, 3%, etc.) of the Participant's Eligible
Compensation.

         (b) All payroll deductions made for a Participant shall be deposited in
the Company's general corporate account and shall be credited to the
Participant's account under the Plan. No interest shall accrue or be credited
with respect to the payroll deductions of a Participant under the Plan. A
Participant may not make any additional payments into such account. All payroll
deductions received or held by the Company under the Plan may be used by the
Company for any corporate purpose, and the Company shall not be obligated to
segregate such payroll deductions.

         (c) A Participant may discontinue participation in the Plan as provided
in Section 12 below. A Participant may at any time, but no more than once,
during an Offering Period reduce or increase (subject to the limitations of
Section 8(a) above) the rate of his or her payroll deductions by completing and
filing with the Company a change notice in the form provided by the Company. A
Participant may suspend his or her payroll deductions in any Offering Period and
may recommence payroll deductions, effective the first date of any subsequent
Offering Period, by completing and filing with the Company such change notice.
Any such increase or reduction in the rate of a Participant's payroll deductions
and any such suspension shall be effective as of first pay period ending at
least ten (10) days after the Participant files the change notice with the
Company.

9.       GRANT OF OPTIONS

         (a) On the Enrollment Date of each Offering Period, subject to the
limitations set forth in Sections 3 and 9(b) hereof, each Eligible Employee
shall be granted an option to purchase on the Exercise Date of each Offering
Period (at the Exercise Price as of such Exercise Date determined as provided in
Section 10 below) up to a number of shares of the Common Stock determined by
dividing such Employee's payroll deductions accumulated during the Offering
Period ending on such Exercise Date by the Exercise Price (as determined in
accordance with Section 10 below); provided that the number of shares subject to
the option for each Offering Period shall not exceed 1,250 (subject to the
adjustment as provided in Section 15 below).

         (b) Notwithstanding any provision of the Plan to the contrary, no
Employee shall be granted an option under the Plan (i) if, immediately after the
grant, such Employee (or any other person whose stock would be attributed to
such Employee pursuant to Section 424(d) of the Code) would own stock and/or
hold outstanding options to purchase stock possessing 5% or more of the total
combined voting power or value of all classes of stock of the Company or of any
Subsidiary of the Company, or (ii) which permits such Employee's rights to
purchase Common Stock under all employee stock purchase plans of the Company and
its Subsidiaries, including, without limitation, this Plan, to accrue at a rate
which exceeds $25,000 of the Fair Market Value of such stock (determined at the
time such option is granted) for each calendar year in which such option is
outstanding at any time.



                                       5
<PAGE>

10.      EXERCISE PRICE

         The Exercise Price of each of the shares in each Offering Period shall
be the lower of (a) 85% of the Fair Market Value of a share of the Common Stock
on the applicable Enrollment Date, or (b) 85% of the Fair Market Value of a
share of the Common Stock on the applicable Exercise Date.

11.      EXERCISE OF OPTIONS

         Unless a Participant withdraws from the Plan as provided in Section 12
below, the Participant's option for the purchase of shares of Common Stock will
be exercised automatically on the Exercise Date of each Offering Period, and the
maximum number of full shares of Common Stock subject to such option will be
purchased for the Participant, at the applicable Exercise Price, with the
accumulated payroll deductions in the Participant's account. Any amount
remaining in the Participant's account after an Exercise Date shall be returned
to the Participant within fifteen (15) days after such Exercise Date.

12.      WITHDRAWAL AND TERMINATION OF EMPLOYMENT

         (a) A Participant may withdraw all, but not less than all, of the
payroll deductions credited to the Participant's account under the Plan at any
time by giving written notice to the Company on a form provided by the Company
for such purpose. Upon the receipt of such notice of withdrawal from a
Participant, all of such Participant's payroll deductions credited to such
Participant's account will be paid to him or her within fifteen (15) days after
receipt of such notice of withdrawal, such Participant's participation in the
Plan will be automatically terminated, and no further payroll deductions for the
purchase of shares by such Participant will be made. Payroll deductions will not
resume on behalf of a Participant who has withdrawn from the Plan unless a new
enrollment agreement is delivered to the Company in accordance with Section 7(a)
above and, in any event, may not resume during the Offering Period in which such
withdrawal occurs.

         (b) Upon termination of a Participant's employment with the Company
and/or its Participating Subsidiaries for any reason, including, without
limitation, retirement or death, prior to the Exercise Date of an Offering
Period, the payroll deductions credited to such Participant's account will be
returned to such Participant or, in the case of death, to such Participant's
estate, within fifteen (15) days after the date of such termination, and such
Participant's options to purchase shares under the Plan will be automatically
terminated as of such date.

         (c) In the event an Employee fails to maintain Continuous Employment
for at least twenty (20) hours per week during an Offering Period in which such
Employee is a Participant, such Employee will be deemed to have elected to
withdraw from the Plan, the payroll deductions credited to such Employee's
account will be returned to the Employee within thirty (30) days after the last
day of the week in which such Employee failed to work at least twenty (20)
hours, and the Employee's options to purchase shares under the Plan will be
terminated as of such date.

         (d) A Participant's withdrawal from an Offering Period will not have
any effect upon such Participant's eligibility to participate in any succeeding
Offering Period or in any other stock purchase or other benefit plan adopted by
the Company.

13.      TRANSFERABILITY




                                       6
<PAGE>

         Options to purchase Common Stock granted under the Plan are not
transferable by a Participant other than by will or the laws of descent and
distribution and are exercisable during a Participant's lifetime only by the
Participant.

14.      REPORTS

         Individual accounts will be maintained for each Participant in the
Plan. Statements of account, as of each Exercise Date, will be given to
participating Employees semi-annually within thirty (30) days after such
Exercise Date. Each statement will set forth the amounts of payroll deductions,
the per share purchase price, the number of shares purchased and the remaining
cash balance, if any, as of the applicable Exercise Date.

15.      ADJUSTMENTS UPON CHANGES IN CAPITALIZATION

         (a) If the outstanding shares of Common Stock are increased or
decreased, or are changed into or are exchanged for a different number or kind
of shares, as a result of one or more reorganizations, restructurings,
recapitalizations, reclassifications, stock splits, reverse stock splits, stock
dividends or the like, upon authorization of the Committee, appropriate
adjustments shall be made in the number and/or kind of shares, and the per-share
option price thereof, which may be issued to any Participant upon exercise of
options granted under the Plan. No fractional share of stock shall be issued
under the Plan pursuant to any adjustment authorized under the provisions of
this Section 15.

         (b) In the event of the sale, merger, dissolution or liquidation of the
Company or a sale of all or substantially all of the Company's assets, any then
current Offering Period will terminate immediately prior to the date on which
such proposed action is to be consummated, unless otherwise determined by the
Committee. Upon any such termination, unless otherwise determined by the
Committee, all options to purchase shares will be exercised automatically, on
such date (which shall thus be deemed to constitute an Exercise Date), to
purchase the maximum number of full shares that may be purchased at the
applicable Exercise Price with each Participant's accumulated payroll
deductions.

16.      AMENDMENT OF THE PLAN

         (a) The Board may at any time, or from time to time, amend the Plan in
any respect; provided, however, that the Plan may not be amended in any way that
will cause rights issued under the Plan to fail to meet the requirements for
employee stock purchase plans provided in Section 423 of the Code or any
successor thereto, including, without limitation, as result of the failure to
obtain shareholder approval of such amendment, if required. To the extent
necessary to comply with Section 423 of the Code (or any other applicable law,
regulation or stock exchange rule), the Company shall obtain shareholder
approval in such a manner and to such a degree as required.

         (b) Without shareholder consent and without regard to whether any
Participant rights may be considered to have been "adversely affected," the
Board (or its Committee) shall be entitled to change the Offering Periods, limit
the frequency and/or number of changes in the amount withheld during an Offering
Period, establish the exchange ratio applicable to amounts withheld in a
currency other than U.S. dollars, permit payroll withholding in excess of the
amount designated by a Participant in order to adjust for delays or mistakes in
the Company's processing of properly completed withholding elections, establish
reasonable 




                                       7
<PAGE>

waiting and adjustment periods and/or accounting and crediting procedures to 
ensure that amounts applied toward the purchase of Common Stock for each 
Participant properly correspond with amounts withheld from the Participant's 
compensation, and establish such other limitations or procedures as the Board 
(or its Committee) determines in its sole discretion to be advisable and 
which are consistent with the Plan.

         (c) In the event the Board determines that the ongoing operation of the
Plan may result in an unfavorable financial accounting consequence, the Board
may, in its discretion and, to the extent necessary or desirable, modify or
amend the Plan to reduce or eliminate such accounting consequence, including,
but not limited to:

                  (1)  altering the Purchase Price for any Offering Period, 
including, without limitation, an Offering Period underway at the time of the 
change in Purchase Price;

                  (2)  shortening any Offering Period so that Offering Period 
ends on a new Exercise Date, including an Offering Period underway at the 
time of such action; and

                  (3)  allocating less than all of the shares of Common Stock 
purchased during an Offering Period among the Participants in such Offering 
Period.

                  Such modifications or amendments shall not require shareholder
approval or the consent of any Plan participants.

17.      TERMINATION OF THE PLAN

         The Plan and all rights of Participants hereunder shall terminate on
the earlier of:

         (a)  the Exercise Date that Participants become entitled to purchase 
a number of shares greater than the number of reserved shares remaining 
available for purchase under the Plan; or

         (b)  November 30, 2008, unless sooner terminated by the Board at any 
time in its discretion.

         In the event that the Plan terminates under circumstances described in
Section 17(a) above, reserved shares remaining as of the termination date shall
be sold to Participants pro rata, based on the number of shares that each of the
Participants is entitled to purchase as of such termination.

18.      NOTICES

         All notices or other communications by a Participant to the Company
under or in connection with the Plan shall be deemed to have been duly given
when received in the form specified by the Company at the location, and by the
person, designated by the Company for the receipt thereof. All notices or other
communications by the Company to a Participant under or in connection with the
Plan shall be deemed to have been duly given when delivered personally to such
Participant or two (2) business days after deposit in the U.S. mail, addressed
to such Participant at the last address for such Participant provided in writing
to the Company.

19.      SHAREHOLDER APPROVAL




                                       8
<PAGE>

         Continuance of the Plan shall be subject to approval by the Company
within twelve (12) months before or after the date the Plan is adopted by the
Board. If such shareholder approval is obtained at a duly held shareholders'
meeting, it may be obtained by the affirmative vote of the holders of a majority
of the outstanding shares of the Company present, or represented by proxy, at
such meeting and entitled to vote thereon.

20.      CONDITIONS UPON ISSUANCE OF SHARES

         (a) The Plan, the grant and exercise of options to purchase shares of
Common Stock under the Plan, and the Company's obligation to sell and deliver
shares upon the exercise of options to purchase shares shall be subject to all
applicable federal, state and foreign laws, rules and regulations, and to such
approvals by any regulatory or governmental agency as may, in the opinion of
counsel for the Company, be required. In addition, no option may be exercised
unless (i) a registration statement under the Securities Act of 1933, as
amended, shall at the time of exercise of the option be in effect with respect
to the shares issuable under exercise of the option, or (ii) in the opinion of
counsel to the Company, the shares issuable upon exercise of the option may be
issued in accordance with the terms of an applicable exemption from the
registration requirements of such act. As a condition to the exercise of an
option, the Company may require the Participant to satisfy any qualifications
that may be necessary or appropriate, to evidence compliance with any applicable
law or regulation, and to make any representations and warranties with respect
thereto as may be requested by the Company.

         (b) The Company may make such provisions as it deems appropriate for
withholding by the Company pursuant to federal or state income tax laws of such
amounts as the Company determines it is required to withhold in connection with
the purchase or sale by a Participant of any Common Stock acquired pursuant to
the Plan. The Company may require a Participant to satisfy any relevant tax
requirements before authorizing any issuance of Common Stock to such
Participant.

21.      EXPENSES OF THE PLAN

         All costs and expenses incurred in administering the Plan shall be paid
by the Company, except that any stamp duties or transfer taxes applicable to
participation in the Plan may be charged to the account of such Participant by
the Company. Any brokerage fees for the purchase or sale of shares by a
Participant shall be borne by the Participant.

22.      NO EMPLOYMENT RIGHTS

         The Plan does not, directly or indirectly, create any right for the
benefit of any employee or class of employees to purchase any shares under the
Plan except pursuant to the terms of the Plan, or create in any employee or
class of employees any right with respect to continuation of employment by the
Company. The Plan shall not be deemed to interfere in any way with the Company's
right to terminate, or otherwise modify, an employee's employment at any time.

23.      EFFECT OF THE PLAN

         The provisions of the Plan shall, in accordance with its terms, be
binding upon, and inure to the benefit of, all successors of each Participant,
including, without limitation, such Participant's estate and the executors,
administrators or trustees thereof, heirs and legatees, and any receiver,
trustee in bankruptcy or 



                                       9
<PAGE>

representative of creditors of such employee.

24.      APPLICABLE LAW

         The laws of the State of California shall govern all matters relating
to this Plan except to the extent (if any) superseded by the laws of the United
States.



















                                       10