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SEC Filings
DEF 14A
QLOGIC CORP filed this Form DEF 14A on 07/23/1996
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<PAGE>   10
 
                  EXECUTIVE COMPENSATION AND OTHER INFORMATION
 
     The following table sets forth information concerning compensation of each
person who served as chief executive officer of the Company during the most
recent fiscal year and each other executive officer of the Company or its
subsidiary whose total annual salary and bonus exceeded $100,000 for the most
recent fiscal year:
 
                         SUMMARY COMPENSATION TABLE(1)
 

<TABLE>
<CAPTION>
                                                                                             LONG-TERM
                                                                                            COMPENSATION
                                                 ANNUAL COMPENSATION               ------------------------------
                                      ------------------------------------------      STOCK
         NAME AND                                                 OTHER ANNUAL        OPTION         ALL OTHER
    PRINCIPAL POSITION       YEAR      SALARY           BONUS    COMPENSATION(2)    GRANTS(3)     COMPENSATION(4)
- ---------------------------  ----     --------         -------   ---------------   ------------   ---------------
<S>                          <C>      <C>              <C>       <C>               <C>            <C>
H.K. Desai                   1994     $126,070             -0-          -0-                 -0-       $ 3,091
  President and CEO(5)       1995      139,534(7)       41,500          -0-         15,000 shs.         3,160
                             1996      167,009(7)       82,500          -0-        120,000 shs.         5,686
Melvin G. Gable              1994      190,953             -0-          -0-         75,000 shs.         5,344
  Former President and
    CEO(6)                   1995      226,583          63,000          -0-                 -0-         5,887
                             1996      168,117(7)(8)       -0-          -0-         30,000 shs.         1,685
Joseph F. Pleso              1994      195,236             -0-          -0-                 -0-         3,374
  Former Interim             1995      227,050             -0-          -0-         10,000 shs.         2,940
  President and CEO(6)       1996      188,751(7)(9)    20,000          -0-         12,500 shs.         3,980
Thomas R. Anderson           1994       98,274(7)          -0-          -0-         20,000 shs.           879
  V.P., Chief Financial
    Officer                  1995      144,544          31,500          -0-         10,000 shs.         4,625
                             1996      147,424          35,000          -0-          6,250 shs.         4,801
David Tovey                  1995      139,534(7)       41,500          -0-         25,000 shs.         3,160
  V.P. Marketing             1996      144,777          35,000          -0-          5,000 shs.         3,254
Michael Manning              1994      115,595             -0-          -0-                 -0-         3,798
  Treasurer and Secretary    1995      129,664          19,000          -0-          7,000 shs.         4,233
                             1996      123,221          23,000          -0-          6,500 shs.         4,028
</TABLE>

 
- ---------------
 
(1) The table includes compensation and stock option grants earned or received
    by each named individual during fiscal year 1994 as an employee of Emulex
    prior to the date of the Distribution as well as compensation paid by the
    Company subsequent to the Distribution.
 
(2) Except where indicated in the Summary Compensation Table, perquisites and
    other personal benefits did not in the aggregate equal or exceed the lesser
    of $50,000 for any named individual or 10% of the total of annual salary and
    bonus reported in this table for such person.
 
(3) The amounts in the table represent shares of the Company's common stock
    covered by stock options granted to the named individual under the QLogic
    Corporation Stock Awards Plan, as well as common stock covered by stock
    options granted to the named individual under the Emulex Employee Stock
    Option Plan which were converted into options to purchase Emulex common
    stock and Company common stock as a result of the Distribution.
 
(4) This column includes the Company's matching contributions to the Emulex
    Retirement Savings Plan prior to the Distribution and to the QLogic
    Corporation Retirement Savings Plan subsequent to the Distribution and group
    term life insurance premiums paid with respect to the named executive.
 
(5) Mr. Desai served as the Company's Vice President of Engineering from the
    time of the Distribution until his resignation on May 1, 1995. He was
    rehired on August 4, 1995 as President and Chief Technical Officer. Mr.
    Desai was subsequently appointed as the Company's President and Chief
    Executive Officer effective January 25, 1996.
 
(6) Mr. Gable resigned as a director and officer of the Company effective June
    7, 1995. Mr. Pleso, who was the Company's Vice President of Worldwide Sales,
    was appointed as interim President and Chief Executive Officer effective
    June 7, 1995. Mr. Pleso resigned as an officer of the Company effective
    October 10, 1995.
 
                                        8

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