Print Page | Close Window
SEC Filings
DEF 14A
QLOGIC CORP filed this Form DEF 14A on 07/23/1996
Entire Document
 << Previous Page | Next Page >>
<PAGE>   9
 
     In June 1996, the Director Plan was amended, subject to approval of the
stockholders of the Company, to (i) extend the termination date of the plan by
five years to December 31, 2001, (ii) increase the number of shares of common
stock subject to the Plan by 75,000, (iii) provide for initial grants to new
directors of options to purchase 8,000 shares of common stock and (iv) provide
for annual grants to each non-employee director (other than the chairman of the
board) of options to purchase 3,000 shares of common stock, and annual grants to
the chairman of the board of options to purchase 5,000 shares of common stock,
all as described below under "Amendment of the Non-Employee Director Stock
Option Plan."
 
     In March 1993, Mr. Liebl was granted an option to purchase 25,000 shares of
common stock of Emulex at a purchase price of $6.375, the fair market value of
the common stock of Emulex on the date of grant. As a result of the Distribution
and related transactions, Mr. Liebl's options were converted into options to
purchase 12,500 shares of the Company's common stock and 12,500 shares of
Emulex's common stock. The exercise price of Mr. Liebl's options to purchase
shares of the Company's common stock was adjusted in the Distribution to $8.56.
 
     Other Compensation. Gary E. Liebl was paid a total of $136,714 for
consulting services rendered to the Company at the request of the Board of
Directors in fiscal year 1996.
 
                                        7

 << Previous Page | Next Page >>