Document:

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                                                                    EXHIBIT 10.8

                               EMULEX CORPORATION

                1997 STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS

  1. PURPOSE.

    (a) The purpose of the Emulex Corporation 1997 Stock Option Plan for
Non-Employee Directors (the "Plan") is to provide a means by which each director
of Emulex Corporation, a Delaware corporation (the "Company"), who is not an
employee of the Company or any of its subsidiaries (each such person being
hereafter referred to as a "Non-Employee Director") will be given an opportunity
to purchase stock of the Company.

    (b) The Company, by means of the Plan, seeks to retain the services of
persons now serving as Non-Employee Directors of the Company, to secure and
retain the services of persons capable of serving in such capacity, and to
provide incentives for such persons to exert maximum efforts for the success of
the Company.

  2. ADMINISTRATION.

    (a) The Plan shall be administered by the Board of Directors of the Company
(the "Board") unless and until the Board delegates administration to a
committee, as provided in subparagraph 2(b).

    (b) The Board may delegate administration of the Plan to a committee
composed of not fewer than two (2) members of the Board (the "Committee"). If
administration is delegated to a Committee, the Committee shall have, in
connection with the administration of the Plan, the powers theretofore possessed
by the Board, subject, however, to such resolutions, not inconsistent with the
provisions of the Plan, as may be adopted from time to time by the Board. The
Board may abolish the Committee at any time and revest in the Board the
administration of the Plan. The Committee shall act pursuant to a majority vote
or the written consent of a majority of its members, and minutes shall be kept
of all of its meetings and copies thereof shall be provided to the Board.
Subject to the provisions of the Plan and the directions of the Board, the
Committee may establish and follow such rules and regulations for the conduct of
its business as it may deem advisable.

    (c) No member of the Board or the Committee shall be liable for any action
or determination undertaken or made in good faith with respect to the Plan or
any agreement executed pursuant to the Plan.

  3. SHARES SUBJECT TO THE PLAN.

    (a) Subject to the provisions of paragraph 10 relating to adjustments upon
changes in stock, the stock that may be sold pursuant to options heretofore or
hereafter granted under the Plan shall not exceed in the aggregate 1,480,000
shares of the Company's common stock (the "Common Stock"). If any option granted
under the Plan shall for any reason expire or otherwise terminate without having
been exercised in full, the stock not purchased under such option shall again
become available for options under the Plan as if no option had been granted
with respect to such shares.

    (b) The stock subject to the Plan may be unissued shares or reacquired
shares, bought on the market or otherwise.

  4. ELIGIBILITY. Options shall be granted only to Non-Employee Directors of the
Company who are eligible directors at the time of grant. Each Non-Employee
Director shall be eligible to receive an option under the Plan if such director
is not then an employee of the Company or any of its subsidiaries. A director of
the Company shall not be deemed to be an employee of the Company or any of its
subsidiaries solely by reason of the existence of an agreement between such
director and the Company or any subsidiary thereof pursuant to which the
director provides services as a consultant to the Company or its subsidiaries on
a regular or occasional basis for compensation.

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  5. AUTOMATIC GRANTS.

    (a) Each person who first becomes an eligible Non-Employee Director after
June 14, 2001 shall, upon the date of his or her initial qualification as an
eligible Non-Employee Director, automatically be granted an initial option to
purchase thirty thousand (30,000) shares of the Company's Common Stock (subject
to adjustment as provided in paragraph 10 hereof) upon the terms and conditions
set forth herein.

    (b) On each anniversary of the date of grant of the initial option to each
eligible Non-Employee Director pursuant to subparagraph 5(a) which occurs after
June 14, 2001, each such eligible Non-Employee Director shall automatically be
granted an additional option to purchase ten thousand (10,000) shares of the
Company's Common Stock (subject to adjustment as provided in paragraph 10
hereof) upon the terms and conditions set forth herein.

  6. OPTION PROVISIONS. Each option shall contain the following terms and
conditions:

    (a) The term of each option commences on the date it is granted and, unless
sooner terminated as set forth herein, expires on the date ("Expiration Date")
ten years from the date of grant. The term of each option may terminate sooner
than such Expiration Date if the optionee's service as a director of the Company
terminates for any reason or for no reason. In the event of such termination of
service, the option shall terminate on the earlier of the Expiration Date or the
date one year following the date of termination of service. In any and all
circumstances, an option may be exercised following termination of the
optionee's service as a director of the Company only as to that number of shares
as to which it was exercisable on the date of termination of such service under
the provisions of subparagraph 6(e). Notwithstanding the foregoing, if exercise
within the foregoing periods is prohibited under paragraph 13 below, the term of
the option shall be extended to a date thirty (30) days following the first date
on which the condition of paragraph 13 of the Plan has been met, and the option
shall be exercisable as to that number of shares that could have been exercised
on the date of termination of service had the condition of paragraph 13 been
satisfied on that date.

    (b) The exercise price of each option shall be one hundred percent (100%) of
the fair market value of the stock subject to such option on the date such
option is granted. For purposes of the Plan, the "fair market value" of any
share of Common Stock of the Company at any date shall be (i) if the Common
Stock is listed on an established stock exchange or exchanges, the last reported
sale price per share on such date on the principal exchange on which it is
traded, or if no sale was made on such day on such principal exchange, at the
closing reported bid price on such day on such exchange, (ii) if the Common
Stock is not then listed on an exchange, the last reported sale price per share
on such date reported by NASDAQ, or if sales are not reported by NASDAQ or no
sale was made on such day, the average of the closing bid and asked prices per
share for the Common Stock in the over-the-counter market as quoted on NASDAQ on
such day, or (iii) if the Common Stock is not then listed on an exchange or
quoted on NASDAQ, an amount determined in good faith by the Board or the
Committee.

    (c) An option that is exercisable may be exercised by the delivery to the
Company of written notice of exercise on any business day, at the Company's
principal office, addressed to the attention of the Board or the Committee. Such
notice shall specify the number of shares of Common Stock with respect to which
the option is being exercised and shall be accompanied by payment in full of the
exercise price per share of the shares of Common Stock for which the option is
being exercised. Payment of the exercise price of each option is due in full in
cash upon any exercise when the number of shares being purchased upon such
exercise is less than 2,000 shares; but when the number of shares being
purchased upon an exercise is 1,000 or more shares, the optionee may elect to
make payment of the exercise price under one of the following alternatives:

                (i) Payment of the exercise price per share in cash at the time
        of exercise; or

                (ii) Provided that at the time of exercise the Company's Common
        Stock is publicly traded and quoted regularly in The Wall Street
        Journal, payment by delivery of already owned shares of Common Stock of
        the Company owned by the optionee for at least six (6) months and owned
        free and clear of any liens, claims, encumbrances or security interests,
        which Common Stock shall be valued at fair market value on the date of
        exercise; or

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                (iii) Provided that at the time of exercise the Company's Common
        Stock is publicly traded and quoted regularly in The Wall Street
        Journal, a copy of instructions to a broker directing such broker to
        sell the Common Stock for which such Option is exercised, and to remit
        to the Company the aggregate exercise price of such Stock Option (a
        "cashless exercise"). Payment in full of the exercise price per share
        need not accompany the written notice of exercise provided that the
        notice of exercise directs that the certificate or certificates for the
        shares of Common Stock for which the option is exercised be delivered to
        a licensed broker acceptable to the Company as the agent for the
        individual exercising the option and, at the time such certificate or
        certificates are delivered, the broker tenders to the Company cash (or
        cash equivalents acceptable to the Company) equal to the exercise price
        per share for the shares of Common Stock purchased pursuant to the
        exercise of the option plus the amount (if any) of federal and/or other
        taxes which the Company may, in its judgment, be required to withhold
        with respect to the exercise of the option.

                (iv) Payment by a combination of the methods of payment
        specified in subparagraphs 6(c)(i), 6(c)(ii) and 6(c)(iii) above.

    (d) An option shall not be transferable except by will or by the laws of
descent and distribution or pursuant to a qualified domestic relations order as
defined by the Internal Revenue Code of 1986, as amended (the "Code"), or Title
I of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"),
or the rules thereunder (a "QDRO"), and shall be exercisable during the lifetime
of the person to whom the option is granted only by such person or by his
guardian or legal representative or any transferee pursuant to a QDRO.

    (e) The options shall become exercisable in installments as follows:

                (i) Each of the options described in subparagraph 5(a) shall
        become exercisable in installments as follows: one-third (1/3) of the
        shares covered by the option on each of the first three anniversaries of
        the date of grant, until all the shares have become purchasable,
        provided that options shall become exercisable only during periods that
        the optionee is a director of the Company.

                (ii) Each of the options described in subparagraph 5(b) shall
        become exercisable in installments as follows: one-half (1/2) of the
        shares covered by the option on the date six (6) months after the date
        of grant, one-fourth (1/4) of the shares covered by the option on the
        date nine (9) months after the date of grant, and one-fourth (1/4) of
        the shares covered by the option on the first anniversary of the date of
        grant, until all the shares have become purchasable; provided that
        options shall become exercisable only during periods that the optionee
        is a director of the Company.

                (iii) Subject to the limitations contained herein, including,
        without limitation, those contained in subparagraph 13(b), each option
        shall be exercisable with respect to each installment on or after the
        date of exercisability applicable to such installment.

    (f) Each option shall contain a representation and any optionee may be
required, as a condition of the grant of the option and the issuance of shares
covered by his or her option, to represent that the option and the shares to be
acquired pursuant to exercise of the option will be acquired for investment and
without a view to distribution thereof. In addition, the Company may require any
optionee or any person to whom an option is transferred under subparagraph 6(d),
as a condition of exercising any such option: (i) to give written assurances
satisfactory to the Company as to the optionee's knowledge and experience in
financial and business matters; (ii) and to give written assurances satisfactory
to the Company stating that such person is acquiring the stock subject to the
option for such person's own account and not with any present intention of
selling or otherwise distributing the stock. These requirements, and any
assurances given pursuant to such requirements, shall be inoperative if (A) the
issuance of the shares upon the exercise of the option has been registered under
a then currently effective registration statement under the Securities Act of
1933, as amended (the "Securities Act"), or (B) as to any particular
requirement, a determination is made by counsel for the Company that such
requirement need not be met in the circumstances under the then applicable
securities laws.

    (g) Notwithstanding anything to the contrary contained herein, an option may
not be exercised unless the shares issuable upon exercise of such option are
then registered under the Securities Act or, if such shares are not

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then so registered, the Company has determined that such exercise and issuance
would be exempt from the registration requirements of the Securities Act.

  7. COVENANTS OF THE COMPANY.

    (a) During the terms of the options granted under the Plan, the Company
shall keep available at all times the number of shares of stock required to
satisfy such options.

    (b) The Company shall seek to obtain from each regulatory commission or
agency having jurisdiction over the Plan such authority as may be required to
issue and sell shares of stock upon exercise of the options granted under the
Plan; provided, however, that this undertaking shall not require the Company to
register under the Securities Act either the Plan, any option granted under the
Plan or any stock issued or issuable pursuant to any such option. If the Company
is unable to obtain from any such regulatory commission or agency the authority
which counsel for the Company deems necessary for the lawful issuance and sale
of stock under the Plan, the Company shall be relieved from any liability for
failure to issue and sell stock upon exercise of such options.

  8. USE OF PROCEEDS FROM STOCK. Proceeds from the sale of stock pursuant to
options granted under the Plan shall constitute general funds of the Company.

  9. MISCELLANEOUS.

    (a) Neither an optionee nor any person to whom an option is transferred
under subparagraph 6(d) shall be deemed to be the holder of, or to have any of
the rights of a holder with respect to, any shares subject to such option unless
and until such person has satisfied all requirements for exercise of the option
pursuant to its terms,

    (b) Nothing in the Plan or in any instrument executed pursuant thereto shall
confer upon any Non-Employee Director any right to continue in the service of
the Company or shall affect any right of the Company or its Board or
stockholders to terminate the service of any Non-Employee Director with or
without cause.

    (c) No Non-Employee Director, individually or as a member of a group, and no
beneficiary or other person claiming under or through him or her, shall have any
right, title or interest in or to any option reserved for the purposes of the
Plan except as to such shares of Common Stock, if any, as shall have been
reserved for him or her pursuant to an option granted to him or her.

    (d) In connection with each option made pursuant to the Plan, it shall be a
condition precedent to the Company's obligation to issue or transfer shares to a
Non-Employee Director or to evidence the removal of any restrictions on transfer
that such Non-Employee Director make arrangements satisfactory to the Company to
insure that the amount of any federal or other withholding tax required to be
withheld with respect to such sale or transfer, or such removal or lapse, is
made available to the Company for timely payment of such tax. The Non-Employee
Director may satisfy any federal, state or local tax withholding obligation
relating to the exercise of such option by any of the following means or by a
combination of such means: (i) tendering a cash payment; (ii) authorizing the
Company to withhold from the shares of Common Stock otherwise issuable to the
participant as a result of the exercise of the stock option a number of shares
having a fair market value less than or equal to the amount of withholding tax
obligation; (iii) or delivering to the Company owned and unencumbered shares of
Common Stock having a fair market value less than or equal to the amount of the
withholding tax obligation.

    (e) In the event of the death of an optionee, any option (or unexercised
portion thereof) held by the optionee, to the extent exercisable by him or her
on the date of death, may be exercised by the optionee's personal
representatives, heirs, or legatees subject to the provisions of subparagraphs
6(a) and 6(e) hereof.

  10. ADJUSTMENTS UPON CHANGES IN STOCK.

    (a) If any change is made in the stock subject to the Plan or subject to any
option granted under the Plan (through merger, consolidation, reorganization,
recapitalization, stock dividend, dividend in property other than cash, stock
split, liquidating dividend, combination of shares, exchange of shares, change
in corporate structure or

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otherwise), the Plan and outstanding options will be appropriately adjusted in
the class(es) and maximum number of shares subject to the Plan and the class(es)
and number of shares and price per share of stock subject to outstanding
options.

    (b) In the event of a liquidation of the Company, or a merger,
reorganization, or consolidation of the Company with any other corporation in
which the Company is not the surviving corporation or the Company becomes a
subsidiary of another corporation, any unexercised options theretofore granted
under the Plan shall be deemed cancelled unless the surviving corporation in any
such merger, reorganization, or consolidation elects to assume the options under
the Plan or to use substitute options in place thereof; provided, however, that,
notwithstanding the foregoing, if such options would otherwise be cancelled in
accordance with the foregoing, the optionee shall have the right, exercisable
during a ten-day period ending on the fifth day prior to such liquidation,
merger, or consolidation, to fully exercise the optionee's option in whole or in
part without regard to any installment exercise provisions otherwise provided by
subparagraph 6(e). In the event of a Change in Control of the Company, as
defined below, any unexercised option theretofore granted under the Plan which
is not then already exercisable as to all of the shares subject to the option
shall become exercisable upon such Change in Control in addition to the shares,
if any, as to which the option is already exercisable. To the extent that the
foregoing adjustments relate to stock or securities of the Company, such
adjustments shall be made by the Board or the Committee, the determination of
which in that respect shall be final, binding, and conclusive. A "Change in
Control" shall be deemed to have occurred if:

                (i) any person, or any two or more persons acting as a group,
        and all affiliates of such person or persons, shall own beneficially
        one-third ( 1/3) or more of the common stock of the Company outstanding;
        or

                (ii) if following:

                        (A) a tender or exchange offer for voting securities of
                the Company (other than any such offer made by the Company), or

                        (B) a proxy contest for election of directors of the
                Company,

        the persons who were directors of the Company immediately before the
        initiation of such event (or directors who were appointed by such
        directors) cease to constitute a majority of the Board of the Company
        upon the completion of such tender or exchange offer or proxy contest or
        within one year after such completion.

  11. AMENDMENT OF THE PLAN.

    (a) The Board at any time, and from time to time, may amend the Plan.
However, except as provided in paragraph 10 relating to adjustments upon changes
in stock, no amendment shall be effective unless approved by the vote of the
majority of the shares of the Company represented and voting at a duly held
meeting within twelve (12) months before or after the adoption of the amendment,
where the amendment will:

                (i) Materially increase the number of shares which may be issued
        under the Plan;

                (ii) Materially modify the requirements as to eligibility for
        participation in the Plan; or

                (iii) Materially increase the benefits accruing to participants
        under the Plan, whether by increasing the number of shares for which an
        option may be granted to an optionee or otherwise.

    (b) Rights and obligations under any option granted before amendment of the
Plan shall not be altered or impaired by any amendment of the Plan except with
the consent of the person to whom the option was granted.

  12. TERMINATION OR SUSPENSION OF THE PLAN.

    (a) The Board may suspend or terminate the Plan at any time. Unless sooner
terminated, the Plan shall terminate on October 31, 2007. No options may be
granted under the Plan while the Plan is suspended or after it is terminated.

<PAGE>

    (b) Rights and obligations under any option granted while the Plan is in
effect shall not be altered or impaired by suspension or termination of the Plan
except with the consent of the person to whom the option was granted.

    (c) The Plan shall terminate upon the occurrence of any of the events
described in subparagraph 10(b) above.

  13. EFFECTIVE DATE OF PLAN; CONDITIONS OF EXERCISE. The Plan shall become
effective on November 1, 1997, subject to the condition subsequent that the Plan
is approved by the vote or written consent of the holders of a majority of the
shares of the Company represented and voting at the next special or annual
meeting of stockholders of the Company. No option shall be granted under the
Plan unless and until the stockholder approval condition of this paragraph 13
has been satisfied.

  14. INDEMNIFICATION. In addition to such other rights of indemnification as
they may have as members of the Board or the Committee, the members of the Board
or the Committee administering the Plan shall be indemnified by the Company
against reasonable expenses, including attorneys' fees, actually and necessarily
incurred in connection with the defense of any action, suit, or proceeding, or
in connection with any appeal therein, to which they or any of them may be a
party by reason of any action taken or failure to act under or in connection
with the Plan or any option granted thereunder, and against all amounts paid by
them in settlement thereof (provided such settlement is approved by independent
legal counsel selected by the Company) or paid by them in satisfaction of a
judgment in any action, suit, or proceeding, except in relation to matters as to
which it shall be adjudged in such action, suit, or proceeding that such member
is liable for negligence or misconduct in the performance of his or her duties,
provided that within 60 days after institution of any such action, suit, or
proceeding, the member shall in writing offer the Company the opportunity, at
its own expense, to handle and defend the same.

  15. CAPTIONS. The use of captions in this Plan or any related option agreement
is for the convenience of reference only and shall not affect the meaning of any
provision of the Plan or such option agreement.

  16. OTHER PROVISIONS. Each option granted under the Plan may contain such
other terms and conditions not inconsistent with the Plan as may be determined
by the Board or Committee, in its sole discretion.

  17. NUMBER AND GENDER. With respect to words used in this Plan, the singular
form shall include the plural form, the masculine gender shall include the
feminine gender, etc., as the context requires.

  18. SEVERABILITY. If any provision of the Plan or any option agreement shall
be determined to be illegal or unenforceable by any court of law in any
jurisdiction, the remaining provisions hereof and thereof shall be severable and
enforceable in accordance with their terms, and all provisions shall remain
enforceable in any other jurisdiction.

  19. GOVERNING LAW. The validity and construction of this Plan and the
instruments evidencing the options granted hereunder shall be governed by and
construed in accordance with the laws of the State of California.<PAGE>
                                                                    EXHIBIT 10.9

                               EMULEX CORPORATION
                          EMPLOYEE STOCK PURCHASE PLAN

        1.     PURPOSE AND TYPE OF OPTION

               1.1 PURPOSE OF PLAN. This Plan amends and restates the Emulex
Corporation Employee Stock Purchase Plan to make certain changes to the
administrative terms of the Plan originally adopted effective as of January 1,
2001. The purpose of the Plan is to provide employment incentives for, and to
encourage stock ownership by, Employees of the Company in order to increase
their proprietary interest in the success of the Company.

               1.2 TYPE OF OPTION. The Options granted under the Plan are
intended to qualify for favorable tax treatment under Code Section 421(a)
pursuant to the terms of an employee stock purchase plan that satisfies the
requirements of Code Section 423(b).

        2.     DEFINITIONS

        Whenever capitalized in the text, the following terms shall have the
meanings set forth below.

               2.1 ACCOUNT. The unfunded bookkeeping account established
pursuant to Section 3.5 hereof to record a Participant's contributions to the
Plan.

               2.2 BASE COMPENSATION. The total cash salary or wages paid by the
Company to an Employee during the calendar year with which or within which the
Option Period ends and which is reportable as earnings subject to income tax on
Form W-2, including salary, annual bonus and incentive payments, annual profit
sharing bonus, overtime, lead premium, commissions and shift differential pay.
Base Compensation does not include deferred compensation or Company
contributions to any Employee benefit plan, but shall include salary deferral
contributions under a Section 401(k) plan or salary reduction contributions to a
cafeteria plan meeting the requirements of Section 125 of the Code that the
Company maintains or in the future may maintain. Base Compensation shall also
exclude:

                      2.2.1 cash reimbursement of moving, relocation and
temporary housing expenses, automobile allowances, telephone allowances, sign on
bonuses, referral bonuses and educational reimbursements to the extent such
reimbursements and allowances are subject to income tax and reportable on Form
W-2;

                      2.2.2 the taxable portion of any other statutory or
nonstatutory fringe benefits (including any termination, severance or separation
allowance paid coincident with or immediately following an Employee's
termination of employment under a termination, severance or separation allowance
plan, program, policy or arrangement, whether written or oral, sponsored,
adopted or maintained by the Employer or under any agreement, whether written or
oral, with the Employer), including, without limitation, group-term life
insurance, to the extent such benefits are subject to income tax and reportable
on Form W-2;

<PAGE>

                      2.2.3 income attributable to the exercise of any stock
option or vesting of any stock award to the extent such property transfers are
subject to income tax pursuant to Code Section 83 and reportable on Form W-2.

               2.3 BOARD. The Board of Directors of the Company.

               2.4 CODE. The Internal Revenue Code of 1986, as amended.

               2.5 COMMON STOCK. The shares of the $.10 par value per share
common stock of the Company.

               2.6 COMPANY. Emulex Corporation, a Delaware corporation, as well
as any Parent or Subsidiary corporations whose employees participate in the Plan
with the consent of the Board.

               2.7 CONTINUOUS EMPLOYMENT. An Employee's employment by the
Company without interruption. Employment shall not be considered interrupted
because of:

                      2.7.1 Transfers of employment between the Company and its
Subsidiary or Parent corporations, or

                      2.7.2 Any leave of absence approved by the Company.

               2.8 EMPLOYEE. Any person, including officers and directors,
employed by the Company. This term shall not include directors unless they are
employed by the Company in a position in addition to their duties as a director.

               2.9 ELIGIBLE EMPLOYEE. Any Employee who has satisfied the
eligibility conditions of Section 3.1 below.

               2.10 EXCHANGE ACT. The Securities Exchange Act of 1934, as
amended.

               2.11 FAIR MARKET VALUE. For purposes of the Plan, the "fair
market value" per share of Common Stock of the Company at any date shall be (a)
if the Common Stock is listed on an established stock exchange or exchanges or
the NASDAQ National Market System, the closing price per share on such date on
the principal exchange on which it is traded or as reported by NASDAQ, or (b) if
the Common Stock is not then listed on an exchange or the NASDAQ National Market
System, the closing price per share on such date reported by NASDAQ, or if
closing sales are not reported by NASDAQ, the average of the closing bid and
asked prices per share for the Common Stock in the over-the-counter market as
quoted on NASDAQ on such date, or (c) if the Common Stock is not then listed on
an exchange, the NASDAQ National Market System or quoted on NASDAQ, an amount
determined in good faith by the Plan Administrator.

               2.12 INSIDER. A Participant who is an officer, director or more
than ten percent (10%) shareholder subject to the provisions of Section 16 of
the Exchange Act.

               2.13 NON-EMPLOYEE DIRECTOR. A member of the Board who is not an
Employee of the Company, any Parent or Subsidiary, who satisfies the
requirements of such term as defined in Rule 16b-3(b)(3)(i) promulgated by the
Securities and Exchange Commission.

                                       2
<PAGE>

               2.14 OPTION. A stock option granted pursuant to the Plan.

               2.15 OPTION PERIOD. Six-month periods from April 1 through
September 30 and October 1 through March 31 of each calendar year, or such other
periods as the Plan Administrator may determine. The maximum term of the Option
Period cannot exceed 27 months from the date the Option is granted.

               2.16 OUTSIDE DIRECTOR. A member of the Board who is not an
Employee of the Company, any Parent or Subsidiary, who satisfies the
requirements of such term as defined in Treas. Regs. Section 1.162-27(e)(3).

               2.17 PLAN. The Emulex Corporation Employee Stock Purchase Plan.

               2.18 PLAN ADMINISTRATOR. The Board or the Committee designated
pursuant to Section 6.2 hereof to administer, construe and interpret the terms
of the Plan.

               2.19 PARTICIPANT. An Eligible Employee who has been granted an
Option under the Plan.

               2.20 PARENT. Any corporation (other than the Company) in an
unbroken chain of corporations ending with the Company if at the time in
question, each of the corporations (other than the Company) owns stock
possessing fifty percent (50%) or more of the total combined voting power of all
classes of stock in one of the other corporations in the chain.

               2.21 STOCKHOLDERS. The holders of outstanding shares of the
Common Stock.

               2.22 SUBSIDIARY. Any corporation (other than the Company) in an
unbroken chain of corporations beginning with the Company if at the time in
question, each of the corporations (other than the last corporation in the
unbroken chain) owns stock possessing fifty percent (50%) or more of the total
combined voting power of all classes of stock in one of the other corporations
in the chain.

        3.     ELIGIBILITY AND PARTICIPATION

               3.1 ELIGIBILITY.

                      3.1.1 All Employees of the Company:

                              (a) Who have completed a period of Continuous
Employment of at least 90 days prior to the date Options are granted under the
Plan, and

                              (b) Whose customary employment exceeds twenty (20)
hours per week, shall be eligible to participate in the Plan.

                      3.1.2 No Employee may be granted an Option if the Employee
would immediately thereafter own, directly or indirectly, five percent (5%) or
more of the combined voting power or value of all classes of stock of the
Company or of a Parent or Subsidiary corporation.

                                       3
<PAGE>

                      3.1.3 For purposes of Section 3.1.2 above, an Employee's
ownership interest will be determined in accordance with the provisions of
Section 424(d) of the Code.

               3.2 PAYROLL WITHHOLDING.

                      3.2.1 Eligible Employees may enroll as Participants by
executing, prior to the commencement of each Option Period, a form to be
provided by the Plan Administrator on which they may designate:

                              (a) The portion of their Base Compensation, not to
exceed 10%, to be deducted each payroll period and contributed to their Accounts
for the purchase of shares of Common Stock (the "withholding credit"), and/or

                              (b) The amount of funds, if any, which they will
deposit at the beginning of the Option Period for the purchase of shares of
Common Stock (the "initial deposit credit").

                              (c) The maximum amount that may be applied to the
exercise of the Option after being credited to a Participant's Account pursuant
to Section 3.2.1(a) and Section 3.2.1(b) shall not in the aggregate exceed 10%
of Base Compensation. From time to time, in its sole discretion, the Plan
Administrator may increase or decrease the maximum percentage, but not in excess
of 15% of Base Compensation.

                      3.2.2 Except as provided herein or in Section 4.1.5
hereof, once a payroll withholding amount is elected, the periodic payroll
deduction withholding credits for that Option Period cannot be decreased or
increased without terminating the Option. However, pursuant to rules and
procedures prescribed by the Plan Administrator, a Participant who is on an
approved unpaid leave of absence may make additional contributions to make up
any contributions that the Participant failed to make while on a
Company-approved unpaid leave of absence if the Participant returns to active
employment and contributes those amounts before the end of the Option Period
during which the leave of absence began. In addition, a Participant who is an
employee whose Base Compensation is primarily based on commissions, who has one
or more payroll periods in which the Participant's commission income is less
than the amount of the periodic payroll deduction withholding credit elected by
the Participant, may make additional contributions to make up any shortfall, if
the Participant contributes those amounts before the end of the Option Period. A
failure to make up such a contributions shortfall by the end of the Option
Period shall be treated as an election, pursuant to Section 4.1.5 hereof, to
cease future contributions.

               3.3 LIMITATIONS.

                      3.3.1 Notwithstanding anything herein to the contrary, the
maximum limit on the right to purchase shares of Common Stock during any Option
Period shall not exceed the lesser of: (a) twelve thousand five hundred dollars
($12,500) per Option Period, or (b) 500 shares of Common Stock per Option
Period, subject to adjustment pursuant to Section 5.2 hereof; provided, however,
that if the Option Period is a length of time other than six months, the
limitation set forth in this Section 3.3.1 shall be adjusted such that on an
annual basis (pro rated for the actual Option Period) the maximum limit on the
right to purchase shares of Common Stock during any calendar year shall not
exceed the lesser of: (a) twenty-five thousand dollars ($25,000) per calendar
year, or (b)

                                       4
<PAGE>

1,000 shares of Common Stock per calendar year, subject to adjustment pursuant
to Section 5.2 hereof.

                      3.3.2 This limitation shall apply to the Participant's
right to purchase Common Stock under the Plan and under all other employee stock
purchase plans described in Section 423 of the Code that are maintained by the
Company and its Subsidiary and Parent corporations.

                      3.3.3 This dollar limitation applies to the Fair Market
Value of Common Stock (determined at the time the Option is granted) for the
Option Period in which the Option is outstanding.

                      3.3.4 This limitation shall be applied in a manner
consistent with the provisions of Section 423(b)(8) of the Code.

               3.4 GRANTING OF OPTIONS.

                      3.4.1 Upon the Employee's completion and return of the
enrollment form, the Plan Administrator will, at the commencement of the Option
Period, grant an Option to allow the Participant to purchase the number of whole
shares of Common Stock specified by the administrator in the Option. Each
participant will be entitled to an Option to purchase the same number of shares.
However, the exercise of the of the Option by any Participant will be limited to
such number of whole shares of Common Stock that can be purchased by the amount
calculated pursuant to Section 4.2 hereof.

                      3.4.2 The price at which each share covered by an Option
may be purchased will in all instances be determined by the Plan Administrator,
but shall be no less than the lesser of

                              (a) Eighty-five percent (85%) of the Fair Market
Value of a share of Common Stock on the first day of the applicable Option
Period; or

                              (b) Eighty-five percent (85%) of the Fair Market
Value of a share of Common Stock on the last day of the applicable Option Period
(the "Exercise Date").

                      3.4.3 Options shall be evidenced by an agreement between
the Participant and the Company in a form approved by the Plan Administrator.

               3.5 ESTABLISHMENT OF ACCOUNTS.

                      3.5.1 All amounts contributed by the Participant to the
Plan (whether by means of payroll withholding or a lump sum advance
contribution) will be credited to a separate Account maintained for the
Participant.

                              (a) The Accounts will not bear interest and a
Participant will not be entitled to any interest on the Account when the Option
is terminated.

                              (b) The Plan Administrator shall prescribe the
rules and procedures, as it deems necessary or appropriate, regarding the
handling of Participant contributions

                                       5
<PAGE>

and, in its sole discretion, may deposit such contributions in a passbook
account or other investment in the name of the Company maintained at any
institution.

                      3.5.2 A Participant may not withdraw any portion of the
funds accumulated in his or her Account without terminating his or her Option
pursuant to Section 4.1, below.

        4.     OPTIONS

               4.1 TERMINATION OF OPTIONS.

                      4.1.1 An Option shall terminate upon the Participant's
voluntary withdrawal from the Plan. A Participant may withdraw from the Plan at
any time prior to the last day of the Option Period by submitting written notice
to the Plan Administrator.

                      4.1.2 An Option also shall terminate automatically if the
Participant holding the Option ceases to be employed by the Company for any
reason (including disability or retirement) prior to the last day of the Option
Period.

                      4.1.3 For purposes of Section 4.1.2 above, a Participant's
employment will not be considered to have been terminated by reason of death or
a leave of absence taken in accordance with the Company's leave of absence
policy, provided the leave of absence does not exceed five (5) months or, if
longer, so long as the Participant's right to reemployment with the Company is
guaranteed either by statute or contract (the "Term Expiration Period"). If the
leave of absence exceeds the Term Expiration Period, the Participant will be
deemed to have ceased to be employed on the first day following the end of the
Term Expiration Period. In the event of death, the Option shall be exercisable
to the extent of the amounts credited to the deceased Participant's Account. The
Option may be exercised by the representative of the Participant's estate or by
a person who acquired the right to exercise the Option by bequest or
inheritance, but only to the extent the Option is exercisable based on the
credits to the Participant's Account. In addition, solely for purposes of this
Plan, a Participant whose employment terminates in connection with an event
(such as a reduction in force, layoff or corporate transaction) that the Plan
Administrator designates as a "Reorganization Event" will be treated under the
Plan as an approved leave of absence and will not be considered to be a
termination of employment for purposes of Section 4.1.2 above until after the
last day of the Option Period.

                      4.1.4 Upon any termination of an Option, all amounts
credited to the Participant's Account shall be refunded to the Participant.

                      4.1.5 A Participant may make a single election during an
Option Period to cease future payroll withholding without terminating the Option
with respect to the number of whole shares equal to:

                              (a) the withheld amounts credited to the
Participant's Account;

                              (b) divided by the Fair Market Value of one share
of Common Stock on the first day of the Option Period.

                                       6
<PAGE>

               4.2 EXERCISE OF OPTIONS.

                      4.2.1 Unless terminated prior to the last day of the
Option Period, Options granted at the commencement of an Option Period will be
exercised automatically on the last day of the Option Period for such number of
whole shares of Common Stock that can be purchased by the amount calculated by:

                              (a) The dollar amount of the periodic deductions
credited to the Participant's Account attributable to amounts withheld from the
Participant's Base Compensation for the payroll periods during the Option Period
(the "withholding credit"),

                              (b) Adding the withholding credit to the amount of
funds (if any) deposited by the Participant with the Plan at the beginning of
the Option Period (the "initial deposit credit"), and

                              (c) Dividing the sum of the withholding credit and
the initial deposit credit by the Fair Market Value of one share of Common Stock
on the first day of the Option Period.

                      4.2.2 As soon as practicable after the last day of the
Option Period, a Participant shall receive a certificate for the whole number of
shares of Common Stock purchased by the funds from the Participant's Account.

                      4.2.3 If the amount credited to the Participant's Account
on the date of purchase exceeds the total purchase price of the shares subject
to the Option, the surplus shall be refunded to a Participant as soon as
reasonably practicable after the end of the applicable Option Period.

                      4.2.4 If at any time during an Option Period a Participant
ceases receiving compensation from the Company without terminating employment
(e.g., while on a Company-approved leave of absence or during a period for which
no commissions are paid), and, as a result, the amount in the Participant's
Account at the end of the Option Period is insufficient to purchase all the
shares covered by the Option granted to the Participant, as many whole shares as
can be purchased out of the contributed funds will be acquired. The balance of
the funds, if any, shall be refunded to the Participant.

                      4.2.5 Except as provided in Section 3.2.2, payment for
shares to be purchased at the termination of the Option Period may only be made
from funds:

                              (a) Deposited at the beginning of an Option
Period, and/or

                              (b) Accumulated through payroll deductions made
throughout the Option Period.

               4.3 NON-TRANSFERABILITY OF OPTIONS. An Option may not be sold,
pledged, assigned, hypothecated, transferred or disposed of in any manner other
than by will and the laws of descent and distribution. During the lifetime of a
Participant, an Option may be exercised only by the Participant.

                                       7
<PAGE>

        5.     COMMON STOCK

               5.1 SHARES SUBJECT TO PLAN.

                      5.1.1 The maximum number of shares of Common Stock which
may be issued under the Plan is 200,000 shares, subject to adjustment in certain
circumstances as provided in Section 5.2 below.

                      5.1.2 If any outstanding Option is terminated for any
reason, the shares allocated to the Option may again become subject to purchase
under the Plan.

                      5.1.3 The Common Stock issuable under the Plan may either
be previously unissued Common Stock or may have been reacquired by the Company
in the open market or otherwise.

                      5.1.4 If at any time the number of shares for which
Options are to be granted under the Plan pursuant to Participants' designation
exceeds the number of remaining shares then available under the Plan, the Plan
Administrator shall make pro rata adjustments to Participants' designations in a
uniform manner. Written notice of any the adjustments shall be given to each
affected Participant.

               5.2 ADJUSTMENT UPON CHANGES IN CAPITALIZATION. A proportionate
adjustment shall be made by the Plan Administrator in the number, price, and
kind of shares subject to outstanding Options if the outstanding shares of
Common Stock are increased, decreased, or exchanged for different securities,
through reorganization, merger, consolidation, recapitalization,
reclassification, stock split, stock dividends, or similar capital adjustment.

        6.     PLAN ADMINISTRATION

               6.1 ADMINISTRATION BY BOARD. Subject to Section 6.2, the Plan
Administrator shall be the Board of Directors of the Company (the "Board")
during such periods of time as all members of the Board are Outside Directors.
Subject to the provisions of the Plan, the Plan Administrator shall have
authority to construe and interpret the Plan, to promulgate, amend, and rescind
rules and regulations relating to its administration, to determine the timing
and manner of the grant of the Options, to determine the exercise price, the
number of shares covered by and all of the terms of the Stock Options, to
determine the duration and purpose of leaves of absence which may be granted to
Stock Option holders without constituting termination of their employment for
purposes of the Plan, and to make all of the determinations necessary or
advisable for administration of the Plan. The Plan Administrator may, in its
absolute discretion, without amendment to the Plan, accelerate the date on which
any Option granted under the Plan becomes exercisable, waive or amend the
operation of Plan provisions respecting exercise after termination of employment
or otherwise adjust any of the terms of such Option. The interpretation and
construction by the Plan Administrator of any provision of the Plan, or of any
agreement issued and executed under the Plan, shall be final and binding upon
all parties. No member of the Board shall be liable for any action or
determination undertaken or made in good faith with respect to the Plan or any
agreement executed pursuant to the Plan.

               6.2 ADMINISTRATION BY COMMITTEE. The Board may, in its sole
discretion, delegate any or all of its duties as Plan Administrator and, subject
to the provisions of Section 6.1 of the Plan, at any time the Board includes any
person who is not an Outside Director, the Board shall

                                       8
<PAGE>

delegate all of its duties as Plan Administrator during such period of time to a
compensation committee (the "Committee") of not fewer than two (2) members of
the Board, all of the members of which Committee shall be persons who, in the
opinion of counsel to the Company, are Outside Directors and Non-Employee
Directors, to be appointed by and serve at the pleasure of the Board. From time
to time, the Board may increase or decrease (to not less than two members) the
size of the Committee, and add additional members to, or remove members from,
the Committee. The Committee shall act pursuant to a majority vote, or the
written consent of a majority of its members, and minutes shall be kept of all
of its meetings and copies thereof shall be provided to the Board. Subject to
the provisions of the Plan and the directions of the Board, the Committee may
establish and follow such rules and regulations for the conduct of its business,
as it may deem advisable. No member of the Committee shall be liable for any
action or determination undertaken or made in good faith with respect to the
Plan or any agreement executed pursuant to the Plan.

               6.3 EXCEPTIONS. Anything to the contrary notwithstanding, the
requirements in Sections 6.1 and 6.2 that all members of the Committee be
Non-Employee Directors and Outside Directors shall not apply for any period of
time during which the Company's Common Stock is not registered pursuant to
Section 12 of the Exchange Act. Those provisions of the Plan that make express
reference to Rule 16b-3 under the Exchange Act shall apply only to reporting
persons.

               6.4 INDEMNIFICATION OF THE PLAN ADMINISTRATOR. To the extent
permitted by law, the Certificate of Incorporation of the Company, the Bylaws of
the Company and any indemnity agreements between the Company and its directors
or employees, the Company shall indemnify each member of the Board and of the
Committee comprising the Plan Administrator, and any other employee of the
Company with duties under the Plan, against expenses (including reasonable
attorneys fees and any amount paid in settlement) reasonably incurred in
connection with any claims against him or her by reason of conduct in the
performance of duties under the Plan.

        7.     MISCELLANEOUS MATTERS

               7.1 UNIFORM RIGHTS AND PRIVILEGES. Except for the limitations of
Section 3.3, the rights and privileges of all Participants under the Plan must
be the same.

               7.2 RIGHTS AS A STOCKHOLDER.

                      7.2.1 No person shall have any stockholder rights with
respect to shares covered by an Option until a stock certificate for the shares
is issued and delivered to the person.

                      7.2.2 No adjustments will be made for cash dividends or
other rights for which the record date is prior to the date of the exercise of
the Option.

               7.3 APPLICATION OF PROCEEDS. The proceeds received by the Company
from the sale of Common Stock pursuant to Options shall be used for general
corporate purposes.

               7.4 AMENDMENT AND TERMINATION.

                      7.4.1 The Board may at any time alter, amend, suspend, or
terminate the Plan with respect to any shares not already subject to Options.

                                       9
<PAGE>

                      7.4.2 No amendment may be adopted without the approval of
the Stockholders that would:

                              (a) Materially increase the benefits accruing to
Participants in the Plan,

                              (b) Increase the number of shares that may be
issued under the Plan,

                              (c) Materially modify the requirements as to
eligibility for participation,

                              (d) Extend the term of the Plan,

                              (e) Alter the option price formula, or

                              (f) Cause the Plan to fail to meet the
requirements to qualify as an "employee stock purchase plan" under Section 423
of the Code.

               7.5 INTERPRETATION.

                      7.5.1 If any provision of the Plan is held invalid or
unenforceable, its invalidity or unenforceability shall not affect any other
provisions of the Plan, and the Plan will be construed and enforced as if the
provision had not been included in it.

                      7.5.2 Unless the context clearly indicates otherwise, the
masculine gender shall include the feminine, the singular shall include the
plural, and the plural shall include the singular.

                      7.5.3 Section headings are for convenient reference only
and shall not be deemed to be part of the substance of this instrument or in any
way to enlarge or limit the contents of any Section.

               7.6 STOCKHOLDER APPROVAL.

                      7.6.1 No shares of Common Stock shall be issued under the
Plan unless it shall have been approved by the stockholders of the Company
within 12 months of the date of adoption. If the Plan is not approved by the
Company's stockholders within that time period, the Plan and all Options issued
under the Plan will terminate and all contributions will be refunded to the
Participants together with any interest earned thereon.

                      7.6.2 This approval by the Company's stockholders must
relate to both:

                              (a) The aggregate number of shares to be granted
under the Plan, and

                              (b) The corporations whose employees may be
Participants in the Plan.

                                       10
<PAGE>

               7.7 NO RIGHT TO EMPLOYMENT. Neither the adoption of the Plan nor
the granting of any Option shall confer upon any Employee any right to continued
employment, nor shall it interfere in any way with the right of the Company
terminate the employment of any Employee at any time, with or without cause.

               7.8 GOVERNING LAW. The Plan and all actions taken under it shall
be governed by and construed in accordance with the laws of the state of
California.

        8.     EFFECTIVE DATE AND TERM OF PLAN

               8.1 EFFECTIVE DATE. The effective date of this amended and
restated Plan shall be January 1, 2001, subject to the approval of Stockholders
of the Company within 12 months of the original date of adoption. No options
granted under the Plan will be effective until the Stockholders of the Company
have approved the Plan.

               8.2 TERM OF PLAN. Unless sooner terminated by the Board in its
sole discretion, the Plan will expire on December 31, 2010.

        IN WITNESS WHEREOF, Emulex Corporation has caused this Plan to be
adopted by its duly authorized officer as a restatement of the original Plan,
pursuant to an amendment adopted by the Board of Directors as of September 24,
2002.

                                    EMULEX CORPORATION

                                    By: /s/ Paul F. Folino
                                        ---------------------------------------
                                        Paul F. Folino, Chief Executive Officer

                                       11

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