Document:

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                                                                    Exhibit 10.1

                               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 increase the number of authorized
shares and make certain changes to the administrative provisions 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

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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;

                      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.

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               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.

               2.14 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

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                             (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.

                      3.1.3 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 or coincident with the commencement of each Option Period
(at a time determined by the Plan Administrator), 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, or in the event the Plan Administrator designates a special election
adjustment period, 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, the Plan Administrator may
designate a special election adjustment period applicable to all participants
during which participants may make a one time election to decrease the amount of
the periodic payroll deduction. A Participant who is on an approved unpaid leave
of absence also may make additional contributions to make up any contributions
that were not withheld from the Participant 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

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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) 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").

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                      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 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

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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.

               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

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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.

        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 950,000 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

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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 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.

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        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.

                      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.

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                      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.

               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 October 12, 2002, subject to the approval of Stockholders
of the Company within 12 months of the date of adoption. The original effective
date of the Plan was January 1, 2001. No options granted under the Plan will be
effective until the Stockholders of the Company have approved the amendment and
restatement of 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.

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        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 October 10,
2002.

                                        EMULEX CORPORATION

                                        By:
                                            ------------------------------------
                                            Paul F. Folino, President and CEO

                                        Date:
                                              ----------------------------------

                                       12<PAGE>

                                                                   EXHIBIT 10(h)

                     SEVERANCE AGREEMENT AND GENERAL RELEASE

          This Severance Agreement and General Release ("Agreement"), between
Andrew K. Hughson ("Employee") and Campbell Soup Company ("Company"), is made
with respect to the following facts:

                  A. Company has decided to sever its employment relationship
with Employee effective September 30, 2002 ("Termination Date"). In
consideration of Employee's signing this Agreement and releasing Company from
any and all claims which he might have against it, Company will, upon the
termination of Employee's employment, provide Employee with the severance pay
and benefits set forth below.

                  B. In exchange for the promises, payments and benefits
described in this Agreement, the parties execute this Agreement in favor of and
for the benefit of the other as follows:

                  1. Severance.

                           a. 58 Week Period.

                                    (i) Company agrees to continue Employee's
current base salary (less required payroll taxes and other withholdings) for a
period of fifty-eight (58) weeks ("58 Week Period") beginning subsequent to
Employee's Termination Date and following payment for Employee's vacation time
of four (4) weeks, as more fully set forth in paragraph B.1.b. (titled Periodic
Payments), provided that Employee does not in the 58 Week Period accept
employment or a consulting assignment, directly or indirectly, with or for a
Competitor of the Company, as that term is defined in this paragraph. If
Employee accepts employment or a consulting assignment with or for a Competitor,
directly or indirectly, or otherwise engages in competition with the Company, in
any manner during the 58 Week Period, all payments and benefits otherwise
provided under the terms of this Agreement to the extent yet unpaid will cease
and Company shall be entitled to exercise all rights and remedies available to
the Company under this Agreement, under the Non-Competition Agreement identified
in paragraph 7, and otherwise available to the Company at law or in equity. For
the purpose of this Agreement, a Competitor of the Company is defined to mean
any person, business, firm, corporation or other enterprise engaged in, or about
to become engaged in, the production, marketing or selling of any product or
service which resembles or competes with a product or service produced, marketed
or sold by the Company (or to Employee's knowledge was under development by the
Company), or any of the Company's corporate affiliates or subsidiaries.

                                    (ii) During the 58 Week Period Employee's
coverage will be continued under the Company's group life and group medical
insurance plans (provided Employee makes required contributions); all other
benefits coverage shall cease. If Employee obtains employment at any time during
the 58 Week Period Company benefits coverage will cease at the time that
Employee becomes eligible for benefits coverage from the new employer. If the
Employee loses such benefits coverage from the new employer during the 58 Week
Period, Employee shall not be entitled to coverage under the Company's group
life and group medical insurance plans. During the 58 Week Period, Employee
agrees to notify Company's Senior Vice President - Law and Government Affairs in
writing within ten (10) business days of commencing alternate employment

                                       1
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and to set forth in such notice (i) the full name of Employee's new employer;
(ii) Employee's title and a description of the areas of responsibility in his
position with the new employer; and (iii) Employee's commencement date and the
date when Employee will become eligible for benefits coverage from his new
employer.

                  b. Periodic Payments. Periodic Payments of Employee's current
base salary (less required payroll taxes and other withholdings) shall be made
at such times as Employee would have received salary payments had Employee
continued to be employed by the Company ("Periodic Payments"). Periodic Payments
will begin after the Effective Date of this Agreement, but in no event before
September 30, 2002.

                  c. The amount of Periodic Payments will count toward accrual
of benefits and vesting under Campbell Soup Company's Retirement and Pension
Plan for Salaried Employees and vesting under Campbell Soup Company's Savings
and 401(k) Plan for Salaried Employees.

                  d. Company agrees that, in the event of Employee's death, all
remaining severance pay due under this Agreement will be paid to Employee's
estate in a cash lump sum payment.

                  2. Release.

                           a. Employee hereby forever releases Company and its
officers, directors, shareholders, agents, employees, affiliates, subsidiaries,
parent company, predecessors, successors and assigns ("Releasees"), from any and
all complaints, charges, claims, liabilities, demands, debts, accounts,
obligations, promises, suits, actions, causes of action, demands in law or
equity, including claims for damages, attorney fees or costs, whether known or
unknown, which Employee now has, or claims to have, or which Employee at any
time may have had, or claimed to have, or which Employee at any time hereafter
may have, or claim to have, arising at any time in the past up to and including
the date of this Agreement, including, but without limiting the generality of
the foregoing, any matters relating in any way to Employee's employment
relationship or the termination of that employment relationship with the
Company, with the exception of any rights or claims arising out of this
Agreement.

                           b. The claims, rights and obligations that Employee
is releasing herein include, but are not limited to: (i) those for wrongful
discharge, breach of contract, breach of implied contract, breach of implied
covenant of good faith and fair dealing, and any other common law or statutory
claims now or hereafter recognized; and (ii) those for discrimination (including
but not limited to claims for discrimination, harassment or retaliation on
account of sex, age, handicap, medical condition or disability, national origin,
race, color, religion, sexual preference, or veteran status) which Employee
might have or might have had under the federal Age Discrimination in Employment
Act, Title VII of the Civil Rights Act, the New Jersey Law Against
Discrimination, the New Jersey Conscientious Employee Protection Act, The
Pennsylvania Human Relations Act and any other federal, state or local laws
prohibiting discrimination, harassment or retaliation in employment. BY SIGNING
THIS AGREEMENT, EMPLOYEE AGREES TO GIVE UP, OR WAIVE, ANY RIGHTS OR CLAIMS WHICH
HE MAY HAVE HAD UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, 29
U.S.C. SECTION 621 et. seq., OR ANY OTHER STATUTES OR OTHER LAWS, WHICH ARE
BASED ON ACTIONS OF CAMPBELL SOUP COMPANY OR ITS SUBSIDIARIES OR AFFILIATES OR
ANY OF THEIR EMPLOYEES OR AGENTS, WHICH OCCURRED UP THROUGH THE DATE THAT
EMPLOYEE SIGNS THIS AGREEMENT.

                                       2
<PAGE>
                           c. Employee further acknowledges and agrees that this
Agreement shall operate as a complete bar to recovery in any and all litigation,
charges, complaints, grievances or demands of any kind whatsoever now pending or
now contemplated by Employee, or which might at any time be filed by Employee,
including, but without limiting the generality of the foregoing, any and all
matters arising out of or in any manner whatsoever connected with the matters
set forth in Paragraph 2a. above. Each and all of the said claims are hereby
fully and finally settled, compromised and released.

                           d. Employee further acknowledges and agrees that
neither Employee, nor any person, organization, or other entity on Employee's
behalf, will file, claim, sue or cause or permit to be filed or claimed, or join
in any claims, as an individual or as a class member, any action for legal or
equitable relief (including damages and injunctive, declaratory, monetary or
other relief), involving any matter or related in any way to Employee's
employment relationship or the termination of Employee's employment relationship
with the Company, or involving any continuing effects of any acts or practices
that may have arisen or occurred during Employee's employment relationship with
the Company.

                           e. Nothing in this paragraph 2 is intended
to operate as a release, waiver, or forfeiture of Employee's rights, and
Company's obligations, under

                           (i) any of the Company's employee benefit plans in
                  which the Employee has been a participant, including, but not
                  limited to, Campbell Soup Company's Retirement and Pension
                  Plan for Salaried Employees, and Campbell Soup Company's
                  Savings and 401(k) Plan for Salaried Employees,

                           (ii) any health and welfare benefits to which
                  Employee may in the future be entitled under "COBRA" or
                  comparable federal or state law or regulation, or

                           (iii) any state worker's compensation act or statute.

                  Subject to the terms of paragraph B.1.a. of this Agreement,
upon the termination of Employee's employment with the Company, Employee's
rights under the applicable employee benefit plans of the Company will be
determined in accordance with the terms of those plans.

                           3. Inquiries.

                                    a. In the event that inquiries are made by
prospective employers concerning Employee's employment with the Company, the
Company will use its best efforts to refer those inquiries to the Company's
Senior Vice President - Law and Government Affairs, or her designate.

                                    b. Employee will not take any action, or
make any statement, whether orally or in writing, which, in any manner,
disparages or impugns the reputation or goodwill of the Company, its Directors
or officers, or other Releasees.

                           4. Successors and Assigns. This Agreement shall bind
Company and Employee, and also all of their respective family members, heirs,
administrators, representatives, successors, assigns, officers, directors,
agents, employees, shareholders, affiliates, predecessors, and

                                       3
<PAGE>
also all other persons, firms, corporations, associations, partnerships and
entities in privity with or related to or affiliated with any such person, firm,
corporation, association, partnership or entity.

                  5. Effect of Agreement. Employee acknowledges and agrees that
this Agreement is not and shall not be construed as an admission of any
violation of any federal, state, or local statute, ordinance or regulation, or
of any duty or obligation the Company owes or owed to Employee, and that
Employee's execution of this Agreement is a voluntary act to provide an amicable
conclusion to Employee's employment relationship with the Company.

                  6. Cooperation. Employee agrees to fully cooperate, in a
timely and good faith manner, subsequent to the Termination Date, with all
reasonable requests for assistance made by the Company, relating, directly or
indirectly, to any and all matters which occurred during the course of
Employee's Company employment, or with which Employee was involved prior to the
termination of his employment, or with which Employee became aware of during the
course of his employment. Employee agrees that, should he be contacted by any
third party regarding such matters, he will politely refuse to engage in any
substantive communication, discontinue such contact as soon as practicable, and
immediately advise the Company's Senior Vice President-Law and Government
Affairs of that contact. Employee agrees not to initiate any contact with any
third party regarding the aforementioned matters, unless specifically requested
to do so by the Company. Upon the submission of proper documentation, Company
will reimburse Employee for all reasonable expenses incurred by him as a result
of such requests for assistance.

                  7. Confidentiality of Proprietary Information. Employee
acknowledges and agrees that in the course of his employment with the Company
Employee has acquired confidential or proprietary information relating to the
business of the Company and/or its affiliates. Employee expressly agrees that he
will keep secret and safeguard all such information, and will not, at any time,
in any form or manner, directly or indirectly, divulge, disclose or communicate
to any person, firm, corporation, or other entity any such information without
the direct written authority of the Company. This Agreement incorporates by
reference all of the provisions of the Campbell Soup Company Non-Competition
Agreement between the Company and Employee executed as of June 27, 1997
("Non-Competition Agreement"). Employee agrees that Employee's obligations
relating to Non-Competition, No Business Diversion and No Employee Solicitation
under the provisions of the Non-Competition Agreement shall remain in effect
through December 8, 2003. The parties hereby stipulate that, as between them,
the matters addressed in this paragraph and in the Non-Competition Agreement are
material and gravely affect the effective and successful conduct of the business
of the Company, and its goodwill, and that notwithstanding anything to the
contrary set forth herein, the Company is entitled to an injunction by any
competent court to enjoin and restrain the unauthorized disclosure of such
confidential information or the breach or threatened breach of the
Non-Competition Agreement.

                  8. Return of Company Property.

                           a. Upon signing this Agreement, Employee agrees to
return to the Company any office, desk and file keys, Company identification
pass cards, Company-provided credit cards issued to Employee, and any other
Company property in the possession of Employee or his agents on or before
September 30, 2002. Employee acknowledges and represents that he has surrendered
and delivered to the Company all files, papers, data, documents, lists, charts,
photographs, computer records, discs or any other records, relating in any
manner to the business activities of the Company or its affiliates, which were
created, produced, reproduced or utilized by

                                       4
<PAGE>
the Company, or any of the Releasees, or by Employee during the term of
Employee's employment relationship with the Company.

                           b. Employee also agrees to repay any monies owed to
the Company, including loans, advances, charges or debts incurred by the
Employee, or any other amounts owed to the Company, on or before the Effective
Date of the Agreement.

                  9. Competency of Employee. Employee acknowledges, warrants,
represents and agrees that in executing and delivering this Agreement, he does
so freely, knowingly and voluntarily and that he is fully aware of the contents
and effect thereof and that such execution and delivery is not the result of any
fraud, duress, mistake or undue influence whatsoever.

                  10. Unknown or Mistake in Facts. It is acknowledged and
understood by the parties that the facts with respect to this Agreement as given
may hereafter turn out to be other than or different from the facts in that
connection now known to them or believed by them to be true, and the parties
therefore expressly assume the risk of the facts being different and agree that
this Agreement shall be in all respects effective and not subject to termination
or rescission by any such difference in facts. In addition, it is acknowledged,
understood and agreed by Employee that should the Company discover that Employee
has breached his fiduciary obligations to the Company (or any affiliated
corporate entity), engaged in any unethical, dishonest or fraudulent act which
affects, or has affected the Company (or any affiliated corporate entity), or
committed any act previously unknown to the Company which would constitute
grounds for discharge for cause, that Company reserves the right, in its sole
discretion, to terminate or suspend all payments or benefits remaining to be
paid by the Company under this Agreement. In addition, the Company may seek all
other remedies and relief allowed by law.

                  11. Savings Clause. It is acknowledged and agreed by the
parties that should any provision of this Agreement be declared or be determined
to be illegal or invalid by final determination of any court of competent
jurisdiction, the validity of the remaining parts, terms or provisions of this
Agreement shall not be affected thereby, and the illegal or invalid part, term
or provision shall be deemed not to be a part of this Agreement.

                  12. Enforcement. The parties expressly agree that this
Agreement constitutes a binding contract. If Employee breaches any term of this
Agreement, or violates any of his obligations under this Agreement or the
Non-Competition Agreement, the Company may, at its option, terminate or suspend
all payments or benefits remaining to be paid by the Company under this
Agreement. In addition, the Company may seek all other remedies and relief
allowed by law.

                  13. Addendum. The Addendum attached to this Agreement, and
signed by the parties, is incorporated within and made a part of this Agreement.

                  14. Effective Date. It is acknowledged and agreed by the
parties that Employee has had twenty-one (21) days to consider this Agreement
before signing it. Further, Employee has the right to revoke this Agreement
within eight (8) days after signing and returning this Agreement to the Company.
This Agreement will not become effective or enforceable, and employee will not
receive any of the severance pay and benefits described in this Agreement, until
the eight (8) day revocation period has run, and Employee notifies the Company,
in writing, that he has elected not to revoke this Agreement (the "Effective
Date").

                                       5
<PAGE>
                  15. Employee Rights. Employee acknowledges, represents and
agrees to the following:

                           a. HE HAS BEEN ADVISED, IN WRITING, TO READ THIS
ENTIRE AGREEMENT CAREFULLY, AND TO CONSULT WITH AN ATTORNEY OF HIS CHOICE PRIOR
TO SIGNING THIS AGREEMENT;

                           b. He was given at least twenty-one (21) days to
consider this Agreement before signing it;

                           c. He was advised, in writing, that he had a full
eight (8) days after he signed this Agreement to revoke it, and that this
Agreement would not become effective until that eight (8) day revocation period
had run and he had notified Company, in writing, that he has elected not to
revoke this Agreement;

                           d. He carefully read this Agreement prior to signing
it, and that he fully understands this Agreement;

                           e. He understands and agrees that he will receive
severance pay and benefits in exchange for signing this Agreement, and that he
would not have received severance pay and benefits if he had not signed this
Agreement;

                           f. EMPLOYEE UNDERSTANDS THAT, BY SIGNING THIS
AGREEMENT, HE WILL LOSE HIS RIGHT TO SUE CAMPBELL SOUP COMPANY AND ITS
SUBSIDIARIES AND AFFILIATES AND ANY OF THEIR EMPLOYEES OR AGENTS, FOR ANY
VIOLATION OF THE AGE DISCRIMINATION IN EMPLOYMENT ACT (THE FEDERAL LAW WHICH
PROHIBITS DISCRIMINATION ON THE BASIS OF AGE), OR ANY OTHER STATUTES OR OTHER
LAWS; and

                           g. He has signed this Agreement voluntarily.

                  16. Entirety of Agreement; Modifications. Employee
acknowledges and agrees that this Agreement, and the attached Addendum, contain
the entire agreement and understanding concerning the subject matter between
Employee and the Company, and that they supersede and replace all prior
agreements concerning the subject matter of this Agreement, whether written or
oral, except for the Non-Competition Agreement referred to in paragraph 7 of
this Agreement, which is incorporated by reference. Employee also represents
that he has not executed this instrument in reliance on any promise,
representation or statement not contained herein. This Agreement may not be
modified except by a writing signed by Employee and an authorized representative
of the Company.

                  17. Governing Law. The parties agree that this Agreement shall
be governed and construed in accordance with the laws of the State of New Jersey
without giving effect to the conflict of law principles. The parties further
irrevocably agree that any disputes or issues arising from or related to this
Agreement shall be brought only in the federal or state court in Camden, New
Jersey, and both parties irrevocably agree to personal jurisdiction and venue in
such New Jersey courts.

                                       6
<PAGE>
                  18. Attorney's Fees. Employee agrees that if the Company
prevails in any suit or proceeding under this Agreement, Employee will pay
Company all of the Company's attorney's fees, costs and expenses incurred in
connection with such suit or proceeding or the enforcement of the Company's
rights under this Agreement.

                  This Agreement was entered into in the State of New Jersey.

Employee                                            Company

 /s/ Andrew K. Hughson
----------------------                          -------------------------------

Date:  9/17/02                                  By:  /s/ D. R. Conant
     --------------------                          ----------------------------

                                                Title: President & CEO
                                                       ------------------------

                                                Date:  September 30, 2002
                                                       ------------------------

                                       7
<PAGE>
         EMPLOYEE: PLEASE SELECT AND COMPLETE ONE OF THE PARAGRAPHS BELOW.

         I, Andrew K. Hughson , have read all of the terms of this Agreement. I
have been informed by the Company that I have the right to consult with an
attorney who is not associated with the Company. I have been given sufficient
time and opportunity to consult with an attorney, and I have voluntarily chosen
not to do so. I understand the terms of this Agreement, including the fact that
my employment relationship with the Company is permanently ended, and that the
Agreement releases the Company forever from any legal action arising from my
employment relationship with or my separation from the Company.

                                   Employee  /s/ Andrew K. Hughson
                                            -----------------------------
                                   Date:    9/17/02
                                         --------------------------------

         Prior to signing this Agreement I, __________________, consulted
_____________________, at the law firm of ___________________ located at
_________________________, who reviewed the Severance Agreement and General
Release and provided advice to me. I understand the terms of this Agreement,
including the fact that my employment relationship with the Company is
permanently ended, and that the Agreement releases the Company forever from any
legal action arising from my employment relationship with or my separation from
the Company.

                                   Employee _______________________________

                                   Date:    _______________________________

                                        8
<PAGE>
                                    ADDENDUM
                     SEVERANCE AGREEMENT AND GENERAL RELEASE
                                     BETWEEN
                              CAMPBELL SOUP COMPANY
                                       AND
                                ANDREW K. HUGHSON

1.       Employee will be eligible for Annual Incentive Plan (AIP) participation
         for all of fiscal 2002, as determined in accordance with the terms of
         Campbell Soup Company's Management Worldwide Incentive Plan. Employee
         understands and agrees that any award of compensation which is payable
         under this Plan will be at the sole discretion of the Compensation and
         Organization Committee of the Company's Board of Directors
         ("Compensation Committee") which is permitted to make performance
         related reductions in bonus payments. Decisions regarding bonus awards
         are normally made at the end of September.

2.       Pursuant to the Agreement to Irrevocably Exchange Stock Options for
         Time-Lapse Restricted Stock dated as of January 12, 2001, after the
         Employee's Termination Date (SEPTEMBER 30, 2002) the Employee shall
         immediately be entitled to the elimination of the restrictions on 3,362
         time-lapse restricted shares and the remaining 2,105 time-lapse
         restricted shares shall be immediately forfeited.

3.       Company will permit Employee to exercise, in accordance with the
         relevant plan and related agreements, any previously-granted
         unexercised stock options on or before the earlier of the expiration
         date of the options or three years from Employee's Termination Date
         (SEPTEMBER 30, 2005), provided that such options are, by their terms,
         exercisable on Employee's Termination Date. Options not exercisable as
         of the Termination Date will be forfeited. In the event of Employee's
         death, the special rules set forth in the relevant plan shall govern.
         In the event of any conflict between this Addendum and the relevant
         plan and related agreements, the relevant plan and related agreements
         will govern.

4.       Employee was granted a Special FY'02 Long-Term Incentive Award of
         $245,438 in cash and 27,000 stock options. Rights to the cash were to
         vest without restriction, and the stock options were to vest, on
         September 28, 2003. In accordance with the terms of this Award,
         Employee will forfeit the 27,000 stock options as of the Termination
         Date. Also in accordance with the terms of this Award, $122,719 in cash
         shall vest and be payable to Employee on September 28, 2003, provided
         Employee does not violate the terms of this Agreement. The other 50% of
         the cash portion of the Award will be forfeited as of the Termination
         Date.

5.       Employee will not be eligible for any additional awards under the 1994
         Long-Term Incentive Plan.

6.       All fully vested investment account balances held for the account of
         Employee in Campbell Soup Company's Deferred Compensation Program
         ("Program") will be distributed in accordance with Employee's
         applicable Distribution Election form or, if Employee has not made a
         valid election, in accordance with the default distribution provisions
         in the Program.

                                       9
<PAGE>
         Applicable federal, state and local taxes will be withheld from the
         payment of any installment amounts from Employee's deferral account.

7.       Employee will be entitled to allowable benefits under the Company's
         Personal Choice Program through SEPTEMBER 30, 2002.

8.       Employee will be provided with outplacement assistance, at a level and
         manner as determined by the Company.

Employee                                        Company

 /s/ Andrew K. Hughson
-----------------------                         -------------------------------

Date:   9/17/02                                 By:  /s/ D. R. Conant
      -----------------                            ----------------------------

                                                Title: President & CEO
                                                       ------------------------

                                                Date: September 30, 2002
                                                      -------------------------

                                       10

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