Document:

EX-10.1

 Exhibit 10.1 
  

 
 November 7, 2013 
 Ann
Johnson 
 [Address] 
 Dear Ann: 

On behalf of Qualys, Inc. (“Qualys” or “Company”), I am pleased to offer you the position of President and COO, reporting to Philippe
Courtot, Chairman and CEO. Your location of work will be New Jersey. The details of your offer are outlined below: 
  

			
	 Salary:
	 	$250,000* (Annual Salary)
		 	*To be paid semi-monthly. Less payroll deductions and all required withholding.
		
	 Incentive

Payment:
	 	  
 You will be eligible to receive up to $50,000 a
quarter. The terms of the incentive payment will be determined soon after you begin employment. Your prorated incentive payment will be guaranteed during your employment for Q4 2013.

		
	 Benefits:
	 	You will be eligible for the following standard Company benefits as of the first of the month following date of hire: Medical and Dental Insurance, 401k plan, Flexible Spending, 4 weeks Vacation, Sick Leave, Company
Assigned Holidays and other benefits described in the Summary Plan Descriptions, available for your review. Qualys may modify compensation and benefits from time to time as it deems necessary.
		
	 Severance:
	 	Should your employment be terminated without cause within one year of employment, you will be entitled to a lump-sum severance payment equal to six months of base salary at your final rate of pay, provided you
sign Qualys’ Severance agreement and General Release of Claims (the “Release”) and the Release becomes effective and irrevocable no later than 60 days following your separation date (the “Release Deadline”). If the
Release does not become effective and irrevocable by the Release Deadline, you will forfeit any rights to severance under this letter. In no event will the severance payment be paid until the Release becomes effective and irrevocable. The severance
payment will be payable on the first payroll date following the Release Deadline.
		
	 Stock:
	 	We will recommend to the Board of Directors that you be granted a stock option to purchase 160,500 shares of Common Stock (the “Option”) under Qualys’ 2012 Equity Incentive Plan (the “2012
Plan”). Your Option will be subject to a four-year vesting schedule, with vesting to commence as of your start date as an employee under this agreement. Under the vesting schedule, your shares under your Option would vest at the rate of 25%
upon completion of the first year of employment, with an additional 2.0833% of such shares vesting for each full month of continuous employment completed after the first anniversary. However, 50% of the then unvested shares subject to the Option
shall accelerate and vest if: (i) the Company incurs a “change in

  
 Qualys, Inc. 

1600 Bridge Parkway, Redwood Shores, CA 94065 
 T 650 801
6100  F 650 801 6101  www.qualys.com 

			
		 	control” (as defined in the 2012 Plan); and (ii) your employment is terminated by the Company other than for “cause” (as defined in the 2012 Plan), death or disability or you resign for “good reason”
(as defined in the 2012 Plan), in each case, during the period on, and 12 months following, a change in control.
		
	 Section 409A:
	 	Any severance payments or benefits payable pursuant to this letter and any other severance payments or separation benefits, that in each case, when considered together are considered deferred compensation (together,
the “Deferred Payments”) under Section 409A of the Internal Revenue Code and the Treasury Regulations and official guidance thereunder (collectively, “Section 409A”), will not become payable unless you incur a
“separation from service” within the meaning of Section 409A. Similarly, no severance payments or benefits pursuant to this letter or other severance payments or benefits, in each case, that would be exempt from Section 409A
pursuant to Treasury Regulation Section 1.409A-1(b)(9) will be payable until you incur a “separation from service” within the meaning of Section 409A.
		
		 	To the extent it is necessary to avoid subjecting you to an additional tax under Section 409A, payment of all or a portion of Deferred Payments will be delayed until the date that is six (6) months and one (1) day
following your separation from service; provided, however, that in the event of your death following your separation from service but before the six (6) month anniversary of your separation from service, then any payments delayed in accordance
with this sentence will be payable in a lump sum as soon as administratively practicable after the date of your death, and any other payments or benefits due will be payable in accordance with the payment schedule applicable to them.
		
		 	Each payment and benefit payment under this letter is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). The Company intends that all severance payments and benefits made
under this letter are exempt from, or comply with, the requirements of Section 409A so that none of the payments or benefits will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms will be
interpreted to so be exempt or comply. You and the Company agree to work together in good faith to consider amendments to this letter and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any
additional tax or income recognition prior to actual payment to you under Section 409A. In no event will the Company reimburse you for any taxes that may be imposed on you as a result of Section 409A.

 As a Qualys employee, you will be expected to abide by Company rules and regulations, and sign and comply with the attached
Proprietary Information and Inventions Agreement, which prohibits unauthorized use or disclosure of Qualys’ proprietary information. 
 Your employment
relationship with Qualys is at-will. You may terminate your employment with Qualys at any time and for any reason whatsoever simply by notifying Qualys. Likewise, Qualys may terminate your employment at any time and for any reason whatsoever, with
or without cause or advance notice. This at-will employment relationship cannot be changed except in a writing signed by a Company officer. 
 This letter,
together with your Employee Proprietary Information and Inventions Agreement and the option agreement between you and Qualys (relating to your option grant described above), forms the complete and exclusive statement of your employment agreement
with Qualys. The employment terms in this letter supersede any other agreements or promises made to you by anyone, whether oral or written. Your employment is contingent upon providing evidence of your legal right to work in the United States as
required by the US Citizenship and Immigration Services. 

 We look forward to your acceptance of employment with Qualys under the terms described above. To accept this
offer, please sign and date this letter. Please return the original offer letter along with the Employee Proprietary Information and Inventions Agreement in the enclosed envelope and keep a copy of the offer letter for your records. This offer will
expire on Monday, November 11, 2013 and is contingent upon successful reference checks and a satisfactory background check. 
 Ann, we are excited
about you joining our team. If you have any questions, please feel free to call me at (650) 801-6151. 
 Sincerely, 

/s/ Rima Touma Bruno 
 Rima Touma Bruno 

VP, Human Resources 
  

					
	Offer Accepted By:	 	Date Accepted:	 	Start Date:
			
	 /s/ Ann Johnson
	 	 November 7, 2013
	 	 November 25, 2013

	Ann JohnsonEX-10.1

 Exhibit 10.1 

Elliott Associates, L.P. 
 Elliott
International, L.P. 
 Elliott International Capital Advisors Inc. 

40 West 57th Street 

New York, NY 10019 

November 11, 2013 
 Emulex Corporation 

3333 Susan Street 
 Costa Mesa, CA 92626 

Ladies and Gentlemen: 
 For good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged by each of the parties hereto, Emulex Corporation (the “Company”) and each of Elliott Associates, L.P. (“Elliott”), Elliott International,
L.P. (“Elliott International”) and Elliott International Capital Advisors Inc. (“EICA”) (Elliott, Elliott International and EICA, collectively, the “Elliott Group”), hereby agrees as follows: 

1. Board Matters. (a) Board Reduction and Nomination: Subject to the terms hereof, prior to filing any proxy statement with
the Securities and Exchange Commission (“SEC”) for the Company’s next meeting of Stockholders at which members of the Company’s Board of Directors (the “Board”) will be elected (the “Next
Stockholders Meeting”), the Board (and the Nominating/Corporate Governance Committee and/or an authorized subcommittee thereof) will take such actions as are necessary to (i) decrease (effective as of immediately prior to the Next
Stockholders Meeting and continuing until the Expiration Date (as defined below)) the size of the Board to no more than 11, (ii) nominate no more than eight individuals who are currently members of the Board, including the two New Members (as
defined below) (collectively, the “Current Board Members”) for election to the Board at the Next Stockholders Meeting, (iii) nominate for election to the Board at the Next Stockholders Meeting three individuals from the group
of candidates previously identified by the Board and the Elliott Group (the “Designated Nominees” and, together with the nominated Current Board Members selected in accordance with clause (ii) of this paragraph, the
“Company Nominees”), and (iv) publish a press release (the “Press Release”) in substantially the form attached hereto as Exhibit A. The Elliott Group will not nominate any individual for election to the
Board under Section 3.18 of the Company’s Bylaws at the Next Stockholders Meeting. Each Designated Nominee who is elected will serve as member of the Board until the earliest of his or her death, disability, resignation or removal, the
parties hereto hereby acknowledging that nothing herein obligates any party to fill any 

  
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vacancy thereby created or to nominate any Designated Nominee for election to the Board at any future meeting of stockholders. For purposes of this agreement, “New Members” has
the meaning ascribed thereto in the letter agreement, dated March 27, 2013, as amended, among the parties relating to, among other things, the election of two current members of the Board (the “Prior Letter”). 

(b) Certain Board Administrative Matters: Prior to his or her election to the Board, the Company has provided or will provide
each Designated Nominee with all documentation, agreements and policies normally provided to proposed new members of the Board, including without limitation indemnification and advancement agreements in the form filed as an exhibit with the
Company’s periodic reports filed under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as well as all pertinent charters, policies and resolutions governing all appointments for such Designated Nominees to
any committee or subcommittee of the Board (any, a “Board Committee”). Each Designated Nominee will be entitled to the same treatment by the Company and the Board as other independent directors, provided such nominee qualifies as
“independent” under applicable law or stock exchange rule, and will not be excluded from consideration for membership in any Board Committee solely by reason of their having been approved as a Designated Nominee under this letter
agreement. 
 (c) Death or Resignation. Notwithstanding anything to the contrary in the foregoing, for the avoidance of
doubt, this Paragraph 1 will not be breached by the Company in the event that (i) any New Member voluntarily resigns from the Board or if a Designated Nominee nominated for election to the Board thereafter withdraws from election to the Board,
dies or becomes disabled, or (ii) any Designated Nominee is nominated or re-elected at an annual meeting of the Company’s stockholders following the Next Annual Meeting. If clause (i) of the immediately preceding sentence applies,
Elliott and the Company will cooperate in good faith to identify and agree upon one or more additional candidates from among the group of candidates referenced in clause (a)(iii) of Paragraph 1 hereof who satisfy the independence requirements
applicable to the Company under law or stock exchange rules and are not employed by or affiliated with the Elliott Group or any other person or group that beneficially owns more than 5.0% of the Company’s common shares and take all actions
reasonably available to them to cause such individuals to be elected to the Board as promptly as practicable after the Next Stockholders Meeting.  

(d) No Nominee Compensation. The Elliott Group represents and warrants to the Company that it has not paid and will not pay any
compensation to any Designated Nominee, and has and will have no agreement, arrangement or understanding, written or oral, with any Designated Nominee (collectively, “Nominee Contracts”) pursuant to which such individual has been or
will be compensated for his or her service as a director on, or nominee for election to, the Board, other than as disclosed in writing to the Company by Elliott prior to the date hereof. Each member of the Elliott Group jointly and severally
represents and warrants that, prior to the execution and delivery of this agreement, it made available to the Company true and correct copies of all Nominee Contracts. 

  
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 2. Standstill. (a) Except as previously disclosed in writing to the Company, each of
the members of the Elliott Group jointly and severely represents and warrants that, as of the date hereof, neither it nor any of its controlled or controlling affiliates beneficially owns any securities entitled to be voted generally in the election
of the Company’s directors or any direct or indirect options or other rights to acquire or dispose of any such securities, any derivative or other rights the value of which is determined by reference to any such securities, or any economic or
voting interests associated with any such securities, in each case required to be reported on a Schedule 13D under the Exchange Act (collectively, “Voting Securities”) and the information in the in the Schedule 13D filed on
November 23, 2012 as amended on or prior to the date hereof (collectively, the “Filings”) under the Exchange Act is true and correct in all material respects, except for the disclosure of this agreement and such other changes
that would not require an amendment to the Filings under applicable law. Each member of the Elliott Group agrees that until the date (the “Expiration Date”) that is the earliest of (i) the first anniversary of the date hereof,
(ii) the date that is 10 business days prior to the last date pursuant to which stockholder nominations for director elections are permitted pursuant to the Company’s Bylaws with respect to the next election of directors after the Next
Stockholders Meeting, and (iii) the occurrence of a Specified Event (as defined in Paragraph 12 below), none of it, its controlled or controlling affiliates or any of their respective representatives acting on their behalf will propose or
publicly announce or otherwise disclose an intent to propose, or enter into or agree to enter into, singly or with any other person: 

(iv) any form of business combination, acquisition or other transaction involving the Company or any of its affiliates; 

(v) any form of restructuring, recapitalization or similar transaction with respect to the Company or any of its affiliates;

 (vi) any demand, request or proposal to amend, waive or terminate any provision of this agreement; 

and, except as aforesaid, prior to the Expiration Date, none of it, its controlled or controlling affiliates or any of their respective representatives acting
as principal will: 
 (vii) acquire, or offer, propose or agree to acquire, by purchase or otherwise, any Voting Securities
except (A) to the extent issued by the Company in respect of its shares of capital stock to all existing stockholders, including the Elliott Group, and (B) the acquisition by the Elliott Group of additional shares of common stock of the
Company following the date hereof in accordance with applicable laws, including the federal securities laws, provided that (1) at no time prior to the Expiration Date may the Elliott Group acquire Voting Securities if as a result thereof the
Elliott Group would beneficially own in excess of 10% of the issued and outstanding Voting Securities of the Company (except for an acquisition in a below market rights offering by the Company) and (2) nothing herein will limit or otherwise
affect the obligations of any member of the Elliott Group under any other agreement with the Company; 

  
 - 3 - 

 (viii) make, or in any way participate in, any solicitation of proxies with
respect to any Voting Securities (including by the execution of action by written consent), become a participant in any election contest with respect to the Company, seek to influence any person with respect to any voting Securities or demand a copy
of the Company’s list of stockholders or other books and records; 
 (ix) participate in or encourage the formation of
any partnership, syndicate or other group that owns or seeks or offers to acquire beneficial ownership of any Voting Securities or that seeks to affect control of the Company or otherwise act in concert with others or take any action that has the
purpose or effect of circumventing any provisions of this agreement; 
 (x) otherwise act, alone or in concert with others
(including by providing financing for another person), to seek or to offer to control or influence, in any manner, the Company’s management, Board or policies; 

(xi) nominate any individual for election to the Board at the Next Stockholders Meeting other than Designated Nominees; or 

(xii) make any proposal or other communication designed to, or reasonably likely to, compel the Company to make a public
announcement thereof in respect of any matter referred to in this agreement. 
 Notwithstanding the foregoing, nothing in this Paragraph 2 will restrict any
member of the Elliott Group or any of its affiliates or representatives: 
 (x) from making any proposal regarding a
possible transaction directly to the Board on a confidential basis, but only if (1) such proposal does not require any party to make a public announcement regarding this agreement, such proposal or a possible transaction or any of the matters
described in this Paragraph 2 (other than the first sentence) or (2) the Company or its representative has invited such proposal; 

(y) from taking any of the actions described in this Paragraph 2 after the date, if any, on which the Company announces
that it has signed an agreement providing for a transaction with a third party in which more than 30% of its outstanding Voting Securities or its assets (whether by merger, consolidation, business combination, tender or exchange offer or otherwise)
would be acquired by such third party or in which a third party makes a tender or exchange offer that, if successful, would result in such third party beneficially owning more than 30% of the Company’s Voting Securities, the acceptance of which
is recommended by the Board or the Board is neutral with respect thereto; or 
 (z) from having confidential discussions
with individuals in preparation for an Elliott Group nomination of one or more individuals for election to the Board. 
 (b) At the Next
Stockholders Meeting, the Company will cause all shares represented by proxies granted to it (or any of its officers, directors or representatives) and the Elliott Group will vote all shares beneficially owned by it on the record date for

  
 - 4 - 

 
the Next Stockholders Meeting or represented by proxies granted to it (or any of, its officers, directors or representatives) to vote for the Company Nominees with the number of votes cast for
each Company Nominee being equal. The Company will use commercially reasonable efforts to cause (a) the next election of members of the Board to be at the Next Stockholders Meeting, (b) the Next Stockholders Meeting to be held on or before
February 14, 2014, and (c) the election of the Company Nominees contemplated by Paragraph 1 hereof at the Next Stockholders Meeting, including recommending that the Company’s stockholders vote in favor of the election of such
nominees, including such nominees in the Company’s proxy statement and in the Company’s slate of nominees for directors for the Next Stockholders Meeting, soliciting proxies for such nominees and otherwise supporting such nominees for
election in a manner no less rigorous and favorable than the manner in which the Company supports its other nominees in the aggregate. Notwithstanding anything to the contrary herein, if the Company fails to nominate any Designated Nominee or New
Member in accordance with Paragraph 1 hereof, in addition to any other remedies to which it may be entitled, the Elliott Group will be free to nominate a slate of nominees for election as directors at the Next Stockholders Meeting in accordance with
the Company’s Bylaws provided that such nomination may be made without regard to the advance notice requirements contained in the Company’s Bylaws. 

3. Communication with the Board. Notwithstanding anything to the contrary herein or in any other agreement currently in force between
the Company and the Elliott Group, the Company acknowledges, and agrees to advise all members of the Board that nothing precludes any member of the Board from communicating with any representative of a member of the Elliott Group with respect to
publicly disclosed information concerning the Company or from listening to the views of the Elliott Group if contacted by such a representative, subject in any such case to such policies and procedures as the Board may from time to time adopt in
respect of director communications with shareholders generally to prohibit the disclosure of material nonpublic or proprietary information. 

4. Binding Effect. This agreement will be binding upon and inure to the benefit of the successors, assigns and legal representatives of
each and every one of the parties hereto. 
 5. No Third-Party Beneficiaries. Except as is otherwise specifically provided for in
this agreement or as may otherwise be specifically agreed in writing by all of the parties hereto, the provisions of this agreement are not intended to be for the benefit of any creditor or other person, including without limitation any Designated
Nominee, to whom any debts, liabilities or obligations are owed by (or who otherwise has any claim against) the parties hereto or otherwise and no such creditor or other person will obtain any benefit from such provisions or will, by reason of any
such foregoing provision, make any claim in respect of any debt, liability or obligation against the parties hereto. 
 6. Agreement in
Counterparts. This agreement may be executed in several counterparts and all so executed will constitute one and the same agreement, binding on all of the parties hereto, notwithstanding that all of the parties are not signatories to the
original or the same counterpart. 

  
 - 5 - 

 7. Entire Agreement. This agreement represents the entire agreement between or among the
parties with respect to the subject matter hereof and supersedes all other agreements and understandings between the parties, oral or written, relating to the same subject matter, including, without limitation, the Prior Letter. 

8. GOVERNING LAW. THIS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
DELAWARE, ALL RIGHTS AND REMEDIES BEING GOVERNED BY SAID LAWS. 
 9. WAIVER OF TRIAL BY JURY. ALL THE PARTIES HERETO HEREBY WAIVE
TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER ARISING IN TORT OR CONTRACT) BROUGHT BY SUCH PARTY AGAINST THE OTHER ON ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT. 

10. Injunctive Relief. Each party acknowledges and agrees that money damages would not be a sufficient remedy for any breach of this
agreement by another party or any of its representatives and that the non-breaching party will be entitled to seek equitable relief, including injunction and specific performance, as a remedy for any breach (and the party will not raise the defense
of an adequate remedy at law) without the posting of a bond or other form of assurance or surety. Such remedies will be in addition to all other remedies available at law or equity. 

11. Further Assurances. Subject to the terms and conditions of this agreement, each of the parties will use its reasonable efforts to
take, or cause to be taken, all actions, and to do, or cause to be done, all things necessary, proper or advisable under applicable laws and regulations, to make effective the provisions of this agreement and to consummate the transactions
contemplated hereby. 
 12. Certain Definitions; Headings. In addition to the terms defined elsewhere herein, for purposes of this
agreement, (a) the terms “affiliate” and “associate” have the meaning set forth in Rule 12b-2 promulgated by the SEC under the Exchange Act; (b) the term “person” means any individual or
legal entity, (c) the term “third party” means any person or “group” of persons, (d) the term “Specified Event” means the failure to nominate any Designated Nominees or New Member as contemplated
hereby, and (e) the term “group” has the meaning given such term in Section 13(e)(3) of the Exchange Act. The descriptive headings of the paragraphs and subparagraphs of this agreement are for convenience only, do not constitute
a part of this agreement, and do not affect this agreement’s construction or interpretation. 
 [remainder of the page left
intentionally blank] 

  
 - 6 - 

 If you are in agreement with the foregoing, please sign and return one copy of this agreement,
which thereupon will constitute our binding agreement with respect to the subject matter hereof. 
  

			
	Sincerely,
	
	ELLIOTT ASSOCIATES, L.P.
	By:	 	Elliott Capital Advisors, L.P., as general partner
	By:	 	Braxton Associates, Inc., as general partner
		
	By:	 	 /s/ Elliot Greenberg

	Name:	 	Elliot Greenberg
	Title:	 	Vice President
	
	ELLIOTT INTERNATIONAL, L.P.
	By:	 	Elliott International Capital Advisors Inc., as attorney-in-fact
		
	By:	 	 /s/ Elliot Greenberg

	Name:	 	Elliot Greenberg
	Title:	 	Vice President
	
	ELLIOTT INTERNATIONAL CAPITAL ADVISORS INC.
		
	By:	 	 /s/ Elliot Greenberg

	Name:	 	Elliot Greenberg
	Title:	 	Vice President

 [Signature page to Letter Agreement] 

			
	ACCEPTED AND AGREED:
	
	EMULEX CORPORATION
		
	By:	 	 /s/ Jeffrey W. Benck

		 	Jeffrey W. Benck
		 	Chief Executive Officer

 [Signature page to Letter Agreement]

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