Document:

exv10w48

Exhibit 10.48

APPENDIX

EMULEX CORPORATION

AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

FOR NON-U.S. GRANTEES

Terms and Conditions

This Appendix includes additional terms and conditions that govern the grant (the “Award”) of
restricted stock units (the “Restricted Stock Units”) to Grantee under the Emulex Corporation
Amended and Restated 2005 Equity Incentive Plan (the “Plan”) if Grantee resides in one of the
countries listed below. Capitalized terms not otherwise defined herein shall have the same
meanings ascribed to them in the Plan and/or the Restricted Stock Unit Award Agreement (the
“Agreement”), as applicable.

Notifications

This Appendix also includes information regarding exchange control and other issues of which
Grantee should be aware with respect to his or her participation in the Plan. The information is
based on the exchange control, securities and other laws in effect in the respective countries as
of April 2010. Such laws are often complex and change frequently. As a result, the Company
strongly recommends that Grantee not rely on the information herein as the only source of
information relating to the consequences of participation in the Plan because the information may
be out of date at the time that the Restricted Stock Units vest or the shares of Common Stock
acquired under the Plan are sold.

In addition, the information contained herein is general in nature and may not apply to Grantee’s
particular situation and the Company is not in a position to assure Grantee of a particular result.
Accordingly, Grantee is advised to seek appropriate professional advice as to how the relevant
laws in Grantee’s country may apply to his or her situation.

Finally, if Grantee is a citizen or resident of a country other than the one in which Grantee is
currently working, or if Grantee transfers employment to another country after the Award of
Restricted Stock Units to Grantee, the information contained herein may not be applicable to
Grantee.

CHINA

Terms and Conditions

Conversion of Units and Issuance of Shares. The following provisions supplement Section 4 of the
Agreement.

Grantee acknowledges that the Restricted Stock Units may be settled in shares of Common Stock or in
cash, at the sole discretion of the Company and subject to any applicable regulatory requirements.

To facilitate compliance with applicable laws or regulations in China, Grantee agrees and
acknowledges that the Company and/or the Company’s designated broker is entitled to (a) immediately
sell all shares of Common Stock issued to Grantee upon vesting of the Restricted Stock Units (on
Grantee’s behalf pursuant to this authorization), either at the time the Restricted Stock Units
vest or when Grantee ceases employment with the Employer, the Company or an Affiliate, or (b)
require that any shares of Common Stock acquired under the Plan be held with a broker designated by
the Company until the shares of Common Stock are sold. Grantee acknowledges that the Company
and/or the Company’s designated broker are under no obligation to arrange for the sale of the
shares of Common Stock at any particular price. In any event, when the shares of Common Stock
acquired under the Plan are sold, the proceeds of the sale of the shares of Common Stock, less any
applicable Tax-Related Items and broker’s fees or commissions, will be remitted to Grantee in
accordance with applicable exchange control law and regulations, as further described below.

 

 

Exchange Control Requirements. Grantee understands and agrees that, if he or she is subject to
exchange control laws in China, Grantee will be required to repatriate the cash proceeds from the
sale of the shares of Common Stock acquired under the Plan to China. Grantee further understands
that, under local law, such repatriation of the cash proceeds may need to be effectuated through a
special exchange control account established by the Company, an Affiliate or the Employer, and
Grantee hereby consents and agrees that any cash proceeds from the sale of shares of Common Stock
acquired under the Plan may be transferred to such special account prior to being delivered to
Grantee. The proceeds may be paid to Grantee in U.S. dollars or local currency at the Company’s
discretion. If the proceeds are paid to Grantee in U.S. dollars, Grantee understands that he or
she will be required to set up a U.S. dollar bank account in China so that the proceeds may be
deposited into this account. If the proceeds are paid to Grantee in local currency, Grantee
acknowledges that the Company is under no obligation to secure any particular exchange conversion
rate and the Company may face delays in converting the proceeds to local currency due to exchange
control restrictions. Grantee agrees to bear any currency fluctuation risk between the
time the shares of Common Stock are sold and the time the proceeds are distributed to Grantee.
Grantee further agrees to comply with any other requirements that may be imposed by the
Company in the future in order to facilitate compliance with exchange control requirements in
China.

2

 

APPENDIX

EMULEX CORPORATION

AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

FOR NON-U.S. GRANTEES

Terms and Conditions

This Appendix includes additional terms and conditions that govern the grant (the “Award”) of
restricted stock units (the “Restricted Stock Units”) to Grantee under the Emulex Corporation
Amended and Restated 2005 Equity Incentive Plan (the “Plan”) if Grantee resides in one of the
countries listed below. Capitalized terms not otherwise defined herein shall have the same
meanings ascribed to them in the Plan and/or the Restricted Stock Unit Award Agreement (the
“Agreement”), as applicable.

Notifications

This Appendix also includes information regarding exchange control and other issues of which
Grantee should be aware with respect to his or her participation in the Plan. The information is
based on the exchange control, securities and other laws in effect in the respective countries as
of April 2010. Such laws are often complex and change frequently. As a result, the Company
strongly recommends that Grantee not rely on the information herein as the only source of
information relating to the consequences of participation in the Plan because the information may
be out of date at the time that the Restricted Stock Units vest or the shares of Common Stock
acquired under the Plan are sold.

In addition, the information contained herein is general in nature and may not apply to Grantee’s
particular situation and the Company is not in a position to assure Grantee of a particular result.
Accordingly, Grantee is advised to seek appropriate professional advice as to how the relevant
laws in Grantee’s country may apply to his or her situation.

Finally, if Grantee is a citizen or resident of a country other than the one in which Grantee is
currently working, or if Grantee transfers employment to another country after the Award of
Restricted Stock Units to Grantee, the information contained herein may not be applicable to
Grantee.

FRANCE

Notifications

Exchange Control Notification. Grantee may hold shares of Common Stock acquired under the Plan
outside of France provided that Grantee declares all foreign accounts (including any accounts that
were opened or closed during the tax year) on Grantee’s annual income tax return. Furthermore,
Grantee must declare to the customs and excise authorities any cash or securities Grantee imports
or exports without the use of a financial institution when the value of the cash or securities
exceeds a certain threshold which is set annually (€10,000 for 2010).

3

 

APPENDIX

EMULEX CORPORATION

AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

FOR NON-U.S. GRANTEES

Terms and Conditions

This Appendix includes additional terms and conditions that govern the grant (the “Award”) of
restricted stock units (the “Restricted Stock Units”) to Grantee under the Emulex Corporation
Amended and Restated 2005 Equity Incentive Plan (the “Plan”) if Grantee resides in one of the
countries listed below. Capitalized terms not otherwise defined herein shall have the same
meanings ascribed to them in the Plan and/or the Restricted Stock Unit Award Agreement (the
“Agreement”), as applicable.

Notifications

This Appendix also includes information regarding exchange control and other issues of which
Grantee should be aware with respect to his or her participation in the Plan. The information is
based on the exchange control, securities and other laws in effect in the respective countries as
of April 2010. Such laws are often complex and change frequently. As a result, the Company
strongly recommends that Grantee not rely on the information herein as the only source of
information relating to the consequences of participation in the Plan because the information may
be out of date at the time that the Restricted Stock Units vest or the shares of Common Stock
acquired under the Plan are sold.

In addition, the information contained herein is general in nature and may not apply to Grantee’s
particular situation and the Company is not in a position to assure Grantee of a particular result.
Accordingly, Grantee is advised to seek appropriate professional advice as to how the relevant
laws in Grantee’s country may apply to his or her situation.

Finally, if Grantee is a citizen or resident of a country other than the one in which Grantee is
currently working, or if Grantee transfers employment to another country after the Award of
Restricted Stock Units to Grantee, the information contained herein may not be applicable to
Grantee.

GERMANY

Notifications

Exchange Control Notification. Cross-border payments in excess of €12,500 must be reported monthly
to the German Federal Bank. If Grantee uses a German bank to transfer a cross-border payment in
excess of €12,500 in connection with the sale of shares of Common Stock acquired under the Plan,
the bank will make the report for Grantee. In addition, Grantee must report any receivables,
payables or debts in foreign currency exceeding an amount of €5,000,000 in any month.

4

 

APPENDIX

EMULEX CORPORATION

AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

FOR NON-U.S. GRANTEES

Terms and Conditions

This Appendix includes additional terms and conditions that govern the grant (the “Award”) of
restricted stock units (the “Restricted Stock Units”) to Grantee under the Emulex Corporation
Amended and Restated 2005 Equity Incentive Plan (the “Plan”) if Grantee resides in one of the
countries listed below. Capitalized terms not otherwise defined herein shall have the same
meanings ascribed to them in the Plan and/or the Restricted Stock Unit Award Agreement (the
“Agreement”), as applicable.

Notifications

This Appendix also includes information regarding exchange control and other issues of which
Grantee should be aware with respect to his or her participation in the Plan. The information is
based on the exchange control, securities and other laws in effect in the respective countries as
of April 2010. Such laws are often complex and change frequently. As a result, the Company
strongly recommends that Grantee not rely on the information herein as the only source of
information relating to the consequences of participation in the Plan because the information may
be out of date at the time that the Restricted Stock Units vest or the shares of Common Stock
acquired under the Plan are sold.

In addition, the information contained herein is general in nature and may not apply to Grantee’s
particular situation and the Company is not in a position to assure Grantee of a particular result.
Accordingly, Grantee is advised to seek appropriate professional advice as to how the relevant
laws in Grantee’s country may apply to his or her situation.

Finally, if Grantee is a citizen or resident of a country other than the one in which Grantee is
currently working, or if Grantee transfers employment to another country after the Award of
Restricted Stock Units to Grantee, the information contained herein may not be applicable to
Grantee.

INDIA

Notifications

Exchange Control Notification. Any proceeds from the sale of shares of Common Stock acquired under
the Plan and any cash dividends received in connection with the Plan must be repatriated to India
and converted into local currency within ninety (90) days of receipt. A foreign inward remittance
certificate (“FIRC”) will be issued by the bank where the foreign currency is deposited. Grantee
should maintain the FIRC as evidence of the repatriation of the proceeds in the event the Reserve
Bank of India or the Employer requests proof of repatriation.

5

 

APPENDIX

EMULEX CORPORATION

AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

FOR NON-U.S. GRANTEES

Terms and Conditions

This Appendix includes additional terms and conditions that govern the grant (the “Award”) of
restricted stock units (the “Restricted Stock Units”) to Grantee under the Emulex Corporation
Amended and Restated 2005 Equity Incentive Plan (the “Plan”) if Grantee resides in one of the
countries listed below. Capitalized terms not otherwise defined herein shall have the same
meanings ascribed to them in the Plan and/or the Restricted Stock Unit Award Agreement (the
“Agreement”), as applicable.

Notifications

This Appendix also includes information regarding exchange control and other issues of which
Grantee should be aware with respect to his or her participation in the Plan. The information is
based on the exchange control, securities and other laws in effect in the respective countries as
of April 2010. Such laws are often complex and change frequently. As a result, the Company
strongly recommends that Grantee not rely on the information herein as the only source of
information relating to the consequences of participation in the Plan because the information may
be out of date at the time that the Restricted Stock Units vest or the shares of Common Stock
acquired under the Plan are sold.

In addition, the information contained herein is general in nature and may not apply to Grantee’s
particular situation and the Company is not in a position to assure Grantee of a particular result.
Accordingly, Grantee is advised to seek appropriate professional advice as to how the relevant
laws in Grantee’s country may apply to his or her situation.

Finally, if Grantee is a citizen or resident of a country other than the one in which Grantee is
currently working, or if Grantee transfers employment to another country after the Award of
Restricted Stock Units to Grantee, the information contained herein may not be applicable to
Grantee.

IRELAND

Notifications

Director Notification Obligation. If Grantee is a director, shadow director1 or
secretary of the Company’s Irish Affiliate, he or she must notify the Irish Affiliate in writing
within five (5) business days of receiving or disposing of an interest in the Company (e.g.,
Restricted Stock Units, shares of Common Stock, etc.), or within five (5) business days of becoming
aware of the event giving rise to the notification requirement or within five days of becoming a
director or secretary if such an interest exists at the time. This notification requirement also
applies with respect to the interests of a spouse or children under the age of 18 (whose interests
will be attributed to the director, shadow director or secretary).

 

			
	1	 	A shadow director is an individual who is not
on the board of directors of the Irish Affiliate but who has sufficient control
so that the board of directors of the Irish Affiliate acts in accordance with
the directions or instructions of the individual.

6

 

APPENDIX

EMULEX CORPORATION

AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

FOR NON-U.S. GRANTEES

Terms and Conditions

This Appendix includes additional terms and conditions that govern the grant (the “Award”) of
restricted stock units (the “Restricted Stock Units”) to Grantee under the Emulex Corporation
Amended and Restated 2005 Equity Incentive Plan (the “Plan”) if Grantee resides in one of the
countries listed below. Capitalized terms not otherwise defined herein shall have the same
meanings ascribed to them in the Plan and/or the Restricted Stock Unit Award Agreement (the
“Agreement”), as applicable.

Notifications

This Appendix also includes information regarding exchange control and other issues of which
Grantee should be aware with respect to his or her participation in the Plan. The information is
based on the exchange control, securities and other laws in effect in the respective countries as
of April 2010. Such laws are often complex and change frequently. As a result, the Company
strongly recommends that Grantee not rely on the information herein as the only source of
information relating to the consequences of participation in the Plan because the information may
be out of date at the time that the Restricted Stock Units vest or the shares of Common Stock
acquired under the Plan are sold.

In addition, the information contained herein is general in nature and may not apply to Grantee’s
particular situation and the Company is not in a position to assure Grantee of a particular result.
Accordingly, Grantee is advised to seek appropriate professional advice as to how the relevant
laws in Grantee’s country may apply to his or her situation.

Finally, if Grantee is a citizen or resident of a country other than the one in which Grantee is
currently working, or if Grantee transfers employment to another country after the Award of
Restricted Stock Units to Grantee, the information contained herein may not be applicable to
Grantee.

JAPAN

No country-specific provisions.

7

 

APPENDIX

EMULEX CORPORATION

AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

FOR NON-U.S. GRANTEES

Terms and Conditions

This Appendix includes additional terms and conditions that govern the grant (the “Award”) of
restricted stock units (the “Restricted Stock Units”) to Grantee under the Emulex Corporation
Amended and Restated 2005 Equity Incentive Plan (the “Plan”) if Grantee resides in one of the
countries listed below. Capitalized terms not otherwise defined herein shall have the same
meanings ascribed to them in the Plan and/or the Restricted Stock Unit Award Agreement (the
“Agreement”), as applicable.

Notifications

This Appendix also includes information regarding exchange control and other issues of which
Grantee should be aware with respect to his or her participation in the Plan. The information is
based on the exchange control, securities and other laws in effect in the respective countries as
of April 2010. Such laws are often complex and change frequently. As a result, the Company
strongly recommends that Grantee not rely on the information herein as the only source of
information relating to the consequences of participation in the Plan because the information may
be out of date at the time that the Restricted Stock Units vest or the shares of Common Stock
acquired under the Plan are sold.

In addition, the information contained herein is general in nature and may not apply to Grantee’s
particular situation and the Company is not in a position to assure Grantee of a particular result.
Accordingly, Grantee is advised to seek appropriate professional advice as to how the relevant
laws in Grantee’s country may apply to his or her situation.

Finally, if Grantee is a citizen or resident of a country other than the one in which Grantee is
currently working, or if Grantee transfers employment to another country after the Award of
Restricted Stock Units to Grantee, the information contained herein may not be applicable to
Grantee.

SINGAPORE

Notifications

Securities Law Notification. The Award is being made pursuant to the “Qualifying Person”
exemption” under section 273(1)(f) of the Securities and Futures Act (Chapter 289, 2006 Ed.)
(“SFA”). The Plan has not been lodged or registered as a prospectus with the Monetary Authority of
Singapore. Grantee should note that the Award is subject to section 257 of the SFA and Grantee
will not be able to make (i) any subsequent sale of shares of Common Stock in Singapore or (ii) any
offer of such subsequent sale of shares of Common Stock subject to the Award in Singapore, unless
such sale or offer in Singapore is made pursuant to the exemptions under Part XIII Division (1)
Subdivision (4) (other than section 280) of the SFA (Chapter 289, 2006 Ed.).

Director Notification Obligation. If Grantee is a director, associate director or shadow
director2 of the Company’s Singapore Affiliate, Grantee is subject to certain
notification requirements under the Singapore Companies Act, regardless of whether Grantee is a
Singapore resident or employed in Singapore. Among these requirements is an obligation to notify
the Company’s Singapore Affiliate of an interest in the Company (e.g., Restricted Stock Units,
shares of Common Stock, etc.) or a related company within two business days of (i) acquiring or
disposing of such interest in the Company, (ii) any change in a previously disclosed interest in
the Company (e.g., acquisition of
shares of Common Stock pursuant to the Award, sale of shares of Common Stock), or (iii) becoming a
director, associate director or shadow director of the Company’s Singapore Affiliate if such an
interest exists at the time.

 

			
	2	 	A shadow director is an individual who is
not on the board of directors of the Singapore Affiliate but who has sufficient
control so that the board of directors acts in accordance with the directions
or instructions of the individual.

8

 

APPENDIX

EMULEX CORPORATION

AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

FOR NON-U.S. GRANTEES

Terms and Conditions

This Appendix includes additional terms and conditions that govern the grant (the “Award”) of
restricted stock units (the “Restricted Stock Units”) to Grantee under the Emulex Corporation
Amended and Restated 2005 Equity Incentive Plan (the “Plan”) if Grantee resides in one of the
countries listed below. Capitalized terms not otherwise defined herein shall have the same
meanings ascribed to them in the Plan and/or the Restricted Stock Unit Award Agreement (the
“Agreement”), as applicable.

Notifications

This Appendix also includes information regarding exchange control and other issues of which
Grantee should be aware with respect to his or her participation in the Plan. The information is
based on the exchange control, securities and other laws in effect in the respective countries as
of April 2010. Such laws are often complex and change frequently. As a result, the Company
strongly recommends that Grantee not rely on the information herein as the only source of
information relating to the consequences of participation in the Plan because the information may
be out of date at the time that the Restricted Stock Units vest or the shares of Common Stock
acquired under the Plan are sold.

In addition, the information contained herein is general in nature and may not apply to Grantee’s
particular situation and the Company is not in a position to assure Grantee of a particular result.
Accordingly, Grantee is advised to seek appropriate professional advice as to how the relevant
laws in Grantee’s country may apply to his or her situation.

Finally, if Grantee is a citizen or resident of a country other than the one in which Grantee is
currently working, or if Grantee transfers employment to another country after the Award of
Restricted Stock Units to Grantee, the information contained herein may not be applicable to
Grantee.

UNITED KINGDOM

Terms and Conditions

Conversion of Units and Issuance of Shares. This provision supplements Section 4 of the Agreement.

Notwithstanding any discretion or anything to the contrary in the Plan and/or the Agreement, the
Award does not provide any right for Grantee to receive a cash payment and the Restricted Stock
Units will be settled in shares of Common Stock only.

Tax Obligations. This provision supplements Section 6 of the Agreement:

If payment or withholding of the Tax-Related Items (including the Employer’s Liability, as defined
below) is not made within ninety (90) days of the event giving rise to the Tax-Related Items (the
“Due Date”) or such other period specified in Section 222(1)(c) of the U.K. Income Tax (Earnings
and Pensions) Act 2003, the amount of any uncollected Tax-Related Items will constitute a loan owed
by Grantee to the Employer, effective on the Due Date. Grantee agrees that the loan will bear
interest at the then-current official rate of Her Majesty’s Revenue and Customs (“HMRC”), it will
be immediately due and repayable, and the Company or the Employer may recover it at any time
thereafter by any of the means referred to in Section 6 of the Agreement. Notwithstanding the
foregoing, if Grantee is a director or executive officer of the Company (within the meaning of
Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), Grantee will not be
eligible for such a loan to cover the Tax-Related Items.

9

 

In the event that Grantee is such a director or executive officer and the Tax-Related Items are not
collected from or paid by Grantee by the Due Date, the amount of any uncollected Tax-Related Items
will constitute a benefit to Grantee on which additional income tax and national insurance
contributions (including the Employer’s Liability, as defined below) will be payable. Grantee will
be responsible for reporting and paying any income tax and national insurance contributions
(including the Employer’s Liability, as defined below) due on this additional benefit directly to
HMRC under the self-assessment regime.

Joint Election. As a condition of Grantee’s participation in the Plan and the vesting of the
Restricted Stock Units, Grantee agrees to accept any liability for secondary Class 1 national
insurance contributions which may be payable by the Company and/or the Employer in connection with
the Restricted Stock Units and any event giving rise to Tax-Related Items (the “Employer’s
Liability”). To accomplish the foregoing, Grantee agrees to execute the following joint election
with the Company, the form of such Joint Election being formally approved by HMRC (the “Joint
Election”), and any other required consent or elections. Grantee further agrees to execute such
other joint elections as may be required between Grantee and any successor to the Company and/or
the Employer. Grantee further agrees that the Company and/or the Employer may collect the
Employer’s Liability from Grantee by any of the means set forth in Section 6 of the Agreement.

If Grantee does not enter into the Joint Election prior to the vesting of the Restricted Stock
Units, Grantee will forfeit the Restricted Stock Units and any shares of Common Stock that have
been issued will be returned to the Company at no cost to the Company, without any liability to the
Company and/or the Employer.

10

 

EMULEX CORPORATION

AMENDED AND RESTATED 2005 EQUITY INCENTIVE PLAN

Restricted Stock Units

for Employees in the United Kingdom

FORM OF ELECTION TO TRANSFER THE EMPLOYER’S SECONDARY

CLASS 1 NATIONAL INSURANCE LIABILITY TO THE EMPLOYEE

	1.	 	Parties
	 
	 	 	This Election is between:

	 	(A)	 	[Insert name of Employee] (the “Employee”), whose National Insurance number is
[                                        ], who is employed by one of the employing companies listed in the
attached schedule (the “Employer”), and who is eligible to receive restricted stock
units pursuant to the terms and conditions of the Emulex Corporation Amended and
Restated 2005 Equity Incentive Plan (the “Plan”), and
	 
	 	(B)	 	Emulex Corporation, of 3333 Susan Street, Costa Mesa, CA 92626, U.S.A. (the
“Company”) which may grant restricted stock units under the Plan and is entering this
Election on behalf of the Employer.

	2.	 	Purpose of Election

	 	2.1	 	This Election relates to the Employer’s secondary Class 1 national
insurance contributions (the “Employer’s Liability”) which may arise on the
occurrence of a “Taxable Event” pursuant to section 4(4) (a) of the Social
Security Contributions and Benefits Act 1992, including:

	 	(i)	 	the acquisition of securities pursuant to the
restricted stock units, including any dividend equivalents paid out in
securities of the Company (pursuant to section 477(3)(a) ITEPA); and/or
	 
	 	(ii)	 	the assignment or release of the restricted stock units
in return for consideration (pursuant to section 477(3)(b) ITEPA);
and/or
	 
	 	(iii)	 	the receipt of a benefit in connection with the
restricted stock units other than a benefit within (i) or (ii) above
(pursuant to section 477(3)(c) ITEPA).

	 	 	 	In this Election, ITEPA means the Income Tax (Earnings and Pensions) Act
2003.
	 
	 	2.2	 	This Election is made in accordance with paragraph 3B(1) of Schedule 1
to the Social Security Contributions and Benefits Act 1992.
	 
	 	2.3	 	This Election applies to all restricted stock units granted to the
Employee under the Plan, including any dividend equivalents paid out in
securities of the Company with respect to the restricted stock units, on or
after [insert date] up to the termination date of the Plan.

11

 

	 	2.4	 	This Election does not apply in relation to any liability, or any part
of any liability, arising as a result of regulations being given retrospective
effect by virtue of section 4B(2) of either the Social Security Contributions
and Benefits Act 1992, or the Social Security Contributions and Benefits
(Northern Ireland) Act 1992.
	 
	 	2.5	 	This Election will not apply to the extent that it relates to relevant
employment income which is employment income of the earner by virtue of Chapter
3A of Part 7 of ITEPA 2003 (employment income: securities with artificially
depressed market value).

	3.	 	The Election

	 	 	 	The Employee and the Company jointly elect that the entire liability of the
UK Employer to pay the Employer’s Liability on the Taxable Event is hereby
transferred to the Employee. The Employee understands that by signing this
Election, he or she will become personally liable for the Employer’s
Liability covered by this Election.

	4.	 	Payment of the Employer’s Liability

	 	4.1	 	Notwithstanding that pursuant to this Election the Employer’s Liability
is transferred to the Employee, the Employee authorises the Employer, and the
Employer agrees, to remit the Employer’s Liability to Her Majesty’s Revenue &
Customs (“HMRC”) on behalf of the Employee. The Employee agrees to pay to the
Employer the Employer’s Liability on demand at any time on or after the Event.
	 
	 	4.2	 	Without limitation to Clause 4.1 above, the Employee hereby authorises
the Company and/or the Employer to collect the Employer’s Liability from the
Employee at any time on or after the Taxable Event:

	 	(i)	 	directly from the Employee by payment in cash or
cleared funds; and/or
	 
	 	(ii)	 	by deduction from salary or any other payment payable
to the Employee at any time on or after the date of the Taxable Event;
and/or
	 
	 	(iii)	 	by arranging, on behalf of the Employee, for the sale
of some of the securities which the Employee is entitled to receive in
respect of the restricted stock units; and/or
	 
	 	(iv)	 	through any other method set forth in the Restricted
Stock Unit Award Agreement entered into between the Employee and the
Company.

	 	4.3	 	The Company hereby reserves for itself and the Employer the right to
withhold the transfer of any securities to the Employee until full payment of
the Employer’s Liability is received.

	5.	 	Duration of Election

	 	5.1	 	The Employee and the Company agree to be bound by the terms of this
Election regardless of whether the Employee is transferred abroad or is not
employed by the Employer on the date on which the Employer’s Liability becomes
due.
	 
	 	5.2	 	This Election will continue in effect until the earliest of the following:

12

 

	 	(i)	 	such time as both the Employee and the Company agree in
writing that it should cease to have effect;
	 
	 	(ii)	 	on the date the Company serves written notice on the
Employee terminating its effect;
	 
	 	(iii)	 	on the date HMRC withdraws approval of this Form of
Election; or
	 
	 	(iv)	 	on the date the Election ceases to have effect in
accordance with its terms in respect of any outstanding restricted
stock units granted under the Plan.

In signing this Election, both the Employer and the Employee agree to be bound by its terms as
stated above.

Signed by [Insert name of Employee]

	 	 	 	 	 

	The Employee

	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Date
	 	 	 	 
	 

	 	 	 	 

Signed for and on behalf of Emulex Corporation

	 	 	 

	 

	 	 
	[Insert name and title of signatory]
	 	 
	Emulex Corporation
	 	 
	[Insert Date]
	 	 

13

 

Schedule to Form of Election — Employing Companies

The Employing Companies to which this Form of Election relates are:

Emulex Limited

	 	 	 

	Registered Office:

	 	Trinity Court, Molly Millars Lane, Wokingham, Berkshire, RG41 2PY, UK
	Company Number:

	 	5942715 
	Corporation Tax District:

	 	Reading
	Corporation Tax Reference:

	 	610 28946 09952 
	PAYE District:

	 	Kent
	PAYE Reference:

	 	577/BA13319 

14exv10w52

Exhibit 10.52

EMULEX CORPORATION

2005 EQUITY INCENTIVE PLAN

AMENDMENT TO RESTRICTED STOCK UNIT AGREEMENTS

          This Amendment (the “Amendment”) to any and all Restricted Stock Unit Agreements (the
“Agreements”) by and between Emulex Corporation, a Delaware corporation (the
“Company”), and the person named below as Grantee, is hereby entered into effective April
20, 2010. All capitalized terms used herein not otherwise defined shall have the same meanings
ascribed to them in the Agreements.

RECITALS

          WHEREAS, Grantee has been granted restricted stock units of the Company’s common stock (the
“RSUs”) pursuant to the Company’s 2005 Equity Incentive Plan (the “2005 Plan”),
subject to the vesting restrictions set forth in the Agreements;

          WHEREAS, Section 3 of the Agreements provides that if Grantee shall cease Continuous Service
for any reason, the RSUs that have not vested as of such time shall be immediately cancelled.

          WHEREAS, on November 19, 2008, the Board of Directors of the Company (the “Board”)
approved the Change in Control Retention Plan (the “Retention Plan”), effective November
20, 2008, and on January 15, 2009, the Compensation Committee of the Board approved amendments to
certain Key Employee Retention Agreements (“KERAs”), effective January 16, 2009, and
Grantee is either a participant in the Retention Plan or party to a KERA;

          WHEREAS, Section 5(a) of the Retention Plan and Section 5(a) of the KERAs, as amended,
provides that upon a Termination Event during a Change in Control Period (each as defined in the
Retention Plan), the right of a participant to vest in stock units held as of the termination date
shall be fully accelerated so that all grants of stock units received the participant shall
thereafter be fully vested and non-forfeitable.

          WHEREAS, pursuant to Section 3.3 of the 2005 Plan, the Administrator has the authority, inter
alia, to amend outstanding units granted under the 2005 Plan, including for the purpose of
modifying the time or manner of vesting and/or the term of any such unit; and

          WHEREAS, pursuant to Section 13 of the Agreement, the parties desire to amend the Agreement so
that Grantee may benefit from the protections afforded in Section 5(a) of the Retention Plan or
Section 5(a) of the KERA, as applicable, in the case that Grantee experiences a Termination Event
during the Change in Control Period.

AGREEMENTS

          NOW, THEREFORE, in consideration of the foregoing recitals and the covenants set forth herein,
the parties hereto hereby agree as follows:

 

 

          1. Vesting. Section 3 of each of the Agreements is amended by adding the following
provisions at the end thereof:

Notwithstanding the foregoing, in the event that Grantee’s Continuous Service is
terminated by the Company (or its successor) without Cause or by Grantee for Good
Reason (as such terms is are defined in the Company’s Change in Control Retention
Plan (the “Retention Plan”) or Grantee’s Key Employee Retention Agreement (“KERA”),
as applicable), either (i) prior to a Change in Control (as defined in the Retention
Plan or the KERA, as applicable), at a time at which the Compensation Committee
determines that there is a reasonable likelihood that the Company will undergo a
Change in Control within the next 12 months, or (ii) within 24 months after a Change
in Control, then the following provisions will apply:

     (A) In the case of clause (i) above, any unvested Restricted Stock Units shall
not be forfeited at the time Grantee’s Continuous Service is terminated, but rather,
shall be retained by Grantee and shall remain unvested, with no further vesting, for
a period of up to 12 months after Grantee’s Continuous Service. If a Change in
Control occurs during such 12-month period, the unvested Restricted Stock Units
immediately shall become 100% vested as provided in Section 5(a) of the Retention
Plan or Section 5(a) of the KERA, as applicable. If no Change in Control occurs
during such 12-month period, then the unvested Restricted Stock Units shall be
forfeited.

     (B) In the case of clause (ii) above, any unvested Restricted Stock Units shall
not be forfeited at the time Grantee’s Continuous Service is terminated, but rather,
immediately shall become 100% vested as provided in Section 5(a) of the Retention
Plan or Section 5(a) of the KERA, as applicable.

          3. Ratification and Affirmance. Subject to the foregoing, the parties hereto hereby
ratify and affirm the Agreements in each and every respect.

          IN WITNESS WHEREOF, the Company and Grantee have duly executed this Amendment, to be effective
as of April 20, 2010.

	 	 	 	 	 	 	 

	 	 	EMULEX CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:  	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	GRANTEE	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

2

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