Contract
Exhibit 10.3
0000 Xxxxx Xxxxxx | T (000) 000-0000 | xxxxxx.xxx | ||||
Xxxxx Xxxx, XX 00000 | F (000) 000-0000 |
July 12, 2013
Xx. Xxxxxxx X. Xxxxx
0 Xxxx Xxxxxxx Xxxx
Xxxxxx Xxxxx, XX 00000
Dear Xxxx:
Reference is made to that certain Key Employee Retention Agreement between you and Emulex Corporation (“Emulex”), effective as of January 1, 2013 (the “KERA”), which sets forth certain severance benefits that you may be entitled to receive in the event of a qualifying termination of your employment with Emulex. This letter agreement sets forth our mutual understanding with respect to amendment of the KERA as set forth herein. Accordingly, we hereby agree as follows:
Section 3(n) of the KERA is hereby amended and restated in its entirety as follows:
“(n) “Severance Period” means twenty four (24) months.”
Except as specifically amended hereby, the KERA will remain unchanged. As amended hereby, the KERA will continue in full force and effect.
Very truly yours, | ||
EMULEX CORPORATION | ||
By: | /s/ Xxxxx X. XxXxxxxx | |
Name: | Xxxxx X. XxXxxxxx | |
Title: | Executive Chairman |
Accepted and Agreed to:
XXXXXXX X. XXXXX
By: | /s/ Xxxxxxx X. Xxxxx | |
Date: | July 12, 2013 |