<HTML><HEAD>
<TITLE>8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): November&nbsp;11, 2013 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>EMULEX CORPORATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>001-31353</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>51-0300558</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(State of incorporation)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File No.)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>3333 Susan Street </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Costa Mesa, California 92626 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices, including zip code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (714)&nbsp;662-5600 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry into a Material Definitive Agreement. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Elliott Agreement</U>. On November&nbsp;11, 2013, the
Corporation and Elliott Associates, L.P. and certain of its affiliates (&#147;Elliott&#148;) entered into an agreement (the &#147;Elliott Agreement&#148;) that reinstates the Elliott standstill that had expired on October&nbsp;20, 2013 until the
earlier of November&nbsp;11, 2014 and 10 days prior to the deadline for director nominations for the annual meeting of shareholders for fiscal 2015, subject to certain exceptions. In addition, the Elliott Agreement provides that the Corporation will
(i)&nbsp;at the time of its next annual meeting of shareholders, reduce the number of directors to 11 from the current 12 (subject to increase in certain circumstances), (ii)&nbsp;include in its proxy statement and cause proxies to be voted pro-rata
for 3 director nominees, which are to be selected by the Corporation&#146;s board of directors (the &#147;Board&#148;) in collaboration with Elliott, and (iii)&nbsp;publish the press release attached hereto as Exhibit 99.1. It also provides that
Elliott will vote its shares pro-rata for these three nominees as well as eight incumbent directors. The foregoing description of the Elliott Agreement is qualified in its entirety by the copy of the Elliott Agreement attached hereto as Exhibit
10.1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Lock-Up Agreements</U>. Certain directors and officers of the Corporation have each executed a Lock-Up Agreement with Goldman, Sachs&nbsp;&amp;
Co. (&#147;Goldman&#148;) relating to the issuance of convertible senior notes by the Corporation. A press release relating to the issuance of the convertible senior notes is attached hereto as Exhibit 99.2. Each Lock-Up Agreement restricts sales of
the Corporation&#146;s stock by the particular Board members and officers and others for a period of 90 days following November&nbsp;12, 2013, subject to exceptions for transactions pursuant to 10b5-1 plans and transactions necessary to meet tax
obligations resulting from vesting of awards made under any of the Corporation&#146;s stock plans. Lock-Up Agreements were entered into by the following Board members or officers: Jeffrey W. Benck, Gregory S. Clark, Bruce C. Edwards, Margaret A.
Evashenk, Paul F. Folino, Eugene J. Frantz, Jeffrey L. Hoogenboom, Beatriz V. Infante, Nersi Nazari, Michael J. Rockenbach, Randall G. Wick, and Dean A. Yoost. The foregoing description of the Lock-Up Agreements is qualified in its entirety by the
copy of the form of the Lock-Up Agreement attached hereto as Exhibit 10.2. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Accelerated Stock Buyback Master Confirmation</U>. The Corporation expects
to enter into (a)&nbsp;an Accelerated Stock Buyback Master Confirmation (the &#147;ASB Agreement&#148;) with Goldman, Sachs&nbsp;&amp; Co. (&#147;Goldman&#148;) on November&nbsp;12, 2013 and (b)&nbsp;a Supplemental Confirmation with Goldman, in the
form specified in the ASB, for the repurchase of one hundred million dollars ($100,000,000) worth of the Corporation&#146;s common stock, on November&nbsp;12, 2013. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) <U>McCluney Departure</U>. Effective February&nbsp;6, 2014, James M. McCluney will no longer be an employee and will no longer be Executive Chairman of the
Corporation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) <U>McCluney Employment Agreement</U>. In connection with the appointment of James M. McCluney as Executive Chairman, the Corporation
entered into an Employment Agreement with </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form 8-K Page 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Mr.&nbsp;McCluney, dated July&nbsp;12, 2013 (the &#147;Employment Agreement&#148;), which is attached as an exhibit to the Corporation&#146;s Current Report on Form 8-K filed with the Securities
and Exchange Commission on July&nbsp;15, 2013. Mr.&nbsp;McCluney&#146;s employment with the Corporation will end on February&nbsp;6, 2014, and pursuant to the terms of the Employment Agreement, he will be provided with certain payments and benefits,
in accordance with a letter from Jeffrey W. Benck, the chief executive officer of the Corporation to Mr.&nbsp;Benck which is attached hereto as Exhibit 10.3 (the &#147;McCluney Letter&#148;). The Employment Agreement includes provisions that will
result in payments and stock plan award acceleration as described below: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Base salary through the departure date at a weekly rate of $11,288 </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Base salary severance payment of one year which is equal to $587,000 </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Executive Incentive Compensation Plan (&#147;EICP&#148;) payment for the pro-rata portion of the fiscal quarter completed as of the departure date, with payment to be made when EICP payments are made to other executives
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">EICP severance payment of one times annual target (90% of base salary), which is equal to $528,300 </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">COBRA insurance payments for 12 months as a lump sum for Mr.&nbsp;McCluney and his dependents, which is $16,714 </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Acceleration of the vesting of equity awards by one year, which specifically includes the following grants: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Performance cash settled unit granted 9/15/12, additional vesting of 22,594 units </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Cash settled unit granted 9/15/12, additional vesting of 15,960 units </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Performance restricted stock units granted 9/15/12, additional vesting of 22,594 units </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Performance restricted stock units granted 9/2/11, additional vesting of 50,400 units </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Restricted stock units granted 9/15/13, additional vesting of 27,943 units </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Restricted stock units granted 9/15/12, additional vesting of 10,620 units </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Restricted stock units granted 9/2/11, additional vesting of 36,000 units </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">ISO stock options granted 9/15/12 at $7.74, additional vesting of 12,919 options </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">ISO stock options granted 9/15/13 at $7.73, additional vesting of 0 options </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">NQ stock options granted 9/15/12 at $7.74, additional vesting of 81 options </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">NQ stock options granted 9/15/13 at $7.73, additional vesting of 8,732 options </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following is a summary of
the amounts above: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">$22,576 base salary for each two week period until the departure date </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">$88,050 EICP adjusted pro-rata for the departure date, assuming target is met </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">$1,115,300 for base salary and EICP as one-year severance </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">$16,714 for COBRA to cover one year </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">186,111 units/shares of restricted stock/cash settled units as accelerated vesting </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">21,732 stock option accelerated vesting </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form 8-K Page 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing description of the McCluney Letter is a summary and is qualified in its entirety by the terms of
the McCluney Letter, a copy of which is attached hereto as Exhibit 10.3 and is incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;7.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Regulation FD Disclosure. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of September&nbsp;29, 2013, the Corporation has 10,676,581 securities
remaining available for future issuance under equity compensation plans (excluding the number of securities to be issued upon exercise of outstanding options, warrants and rights). This updates the number provided in the table of item 12 in the
Corporation&#146;s Form 10-K/A filed on October&nbsp;25, 2013 which contained data as of June&nbsp;30, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of November&nbsp;7, 2013, the Corporation
had 92,226,858 shares of common stock outstanding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of November&nbsp;7, 2013, the Corporation had 338 registered holders of its common stock. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Other Events. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Size of the Board</U>. The Board intends, and approved an agreement with Elliott, to
decrease the number of authorized directors from 12 to 11 at the time of the next annual meeting of shareholders (the &#147;Annual Meeting&#148;), subject to increase in certain circumstances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Nominees for Board Candidates</U>. The Board intends to include three candidates, who are expected to be independent under NYSE rules and not incumbents,
selected in collaboration with Elliott, as provided in the Elliott Agreement attached hereto as Exhibit 10.1, for election to the Board at the next Annual Meeting. The Board expects to nominate the following incumbent Board members for re-election
at the Annual Meeting: Jeffrey W. Benck, Gregory S. Clark, Bruce C. Edwards, Paul F. Folino, Eugene J. Frantz, Beatriz V. Infante, Nersi Nazari, and Dean A. Yoost. The following incumbent Board members will not stand for re-election at the Annual
Meeting: Michael P. Downey, Robert H. Goon, Don M. Lyle, and James M. McCluney. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Press Releases</U>. On November&nbsp;11, 2013, the Corporation
published a press release announcing the Corporation&#146;s new three-part initiative to improve profitability and enhance shareholder value, which includes a $200 million share repurchase program. A copy of the press release is attached hereto as
Exhibit 99.1 and is incorporated herein by reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Also on November&nbsp;11, 2013, the Corporation published a second press release announcing that it
intends to offer, subject to market and other conditions, $125 million of convertible senior notes due 2018 in a private offering to qualified institutional buyers. A copy of the press release is attached hereto as Exhibit 99.2 and is incorporated
herein by reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Preliminary Offering Circular</U>. In connection with the offering of the notes, the Corporation expects to disclose certain
supplemental information concerning the Corporation to potential purchasers of the notes in a preliminary offering circular dated November&nbsp;11, 2013. An excerpt from the preliminary offering circular containing this supplemental information is
attached hereto as Exhibit&nbsp;99.3 and is incorporated herein by reference. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form 8-K Page 4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Exhibits </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:28.45pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit<BR>Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:85.25pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description of Document</B></P></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Settlement Agreement, by and between Emulex Corporation and Elliott Associates, L.P., dated November 11, 2013</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Lock-Up Agreement</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Letter, dated November 11, 2013, from Jeffrey W. Benck (President and Chief Executive Officer of Emulex Corporation) and James M. McCluney</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release, November 11, 2013, entitled &#147;Emulex Announces New Three-Part Initiative to Improve Profitability and Enhance Shareholder Value&#148;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release, November 11, 2013, entitled &#147;Emulex to Offer $125 Million of Convertible Senior Notes&#148;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Excerpt from preliminary offering circular</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form 8-K Page 5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>SIGNATURE </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned, hereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: November&nbsp;11, 2013 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">EMULEX CORPORATION</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ MICHAEL J. ROCKENBACH</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Michael J. Rockenbach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Executive Vice President and Chief Financial Officer</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form 8-K Page 6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:28.45pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit<BR>Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:85.25pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description of Document</B></P></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Settlement Agreement, by and between Emulex Corporation and Elliott Associates, L.P., dated November 11, 2013</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Lock-Up Agreement</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Letter, dated November 11, 2013, from Jeffrey W. Benck (President and Chief Executive Officer of Emulex Corporation) and James M. McCluney</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release, November 11, 2013, entitled &#147;Emulex Announces New Three-Part Initiative to Improve Profitability and Enhance Shareholder Value&#148;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release, November 11, 2013, entitled &#147;Emulex to Offer $125 Million of Convertible Senior Notes&#148;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Excerpt from preliminary offering circular</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form 8-K Page 7 </P>

</BODY></HTML>
[{"type": "8-K", "sequence": "1", "filename": "d627119d8k.htm", "description": "8-K", "secsgml_size_bytes": 37988}]
{"company-data": {"conformed-name": "EMULEX CORP /DE/", "cik": "0000350917", "assigned-sic": "3576", "irs-number": "510300558", "state-of-incorporation": "DE", "fiscal-year-end": "0629"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31353", "film-number": "131206765"}, "business-address": {"street1": "3333 SUSAN STREET", "city": "COSTA MESA", "state": "CA", "zip": "92626", "phone": "7146625600"}, "mail-address": {"street1": "3333 SUSAN STREET", "city": "COSTA MESA", "state": "CA", "zip": "92626"}}
8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 11, 2013
EMULEX CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
001-31353
51-0300558
(State of incorporation)
(Commission
File No.)
(IRS Employer
Identification No.)
3333 Susan Street
Costa Mesa, California 92626
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (714) 662-5600
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.
Entry into a Material Definitive Agreement.
Elliott Agreement
. On November 11, 2013, the
Corporation and Elliott Associates, L.P. and certain of its affiliates ("Elliott") entered into an agreement (the "Elliott Agreement") that reinstates the Elliott standstill that had expired on October 20, 2013 until the
earlier of November 11, 2014 and 10 days prior to the deadline for director nominations for the annual meeting of shareholders for fiscal 2015, subject to certain exceptions. In addition, the Elliott Agreement provides that the Corporation will
(i) at the time of its next annual meeting of shareholders, reduce the number of directors to 11 from the current 12 (subject to increase in certain circumstances), (ii) include in its proxy statement and cause proxies to be voted pro-rata
for 3 director nominees, which are to be selected by the Corporation's board of directors (the "Board") in collaboration with Elliott, and (iii) publish the press release attached hereto as Exhibit 99.1. It also provides that
Elliott will vote its shares pro-rata for these three nominees as well as eight incumbent directors. The foregoing description of the Elliott Agreement is qualified in its entirety by the copy of the Elliott Agreement attached hereto as Exhibit
10.1.
Lock-Up Agreements
. Certain directors and officers of the Corporation have each executed a Lock-Up Agreement with Goldman, Sachs &
Co. ("Goldman") relating to the issuance of convertible senior notes by the Corporation. A press release relating to the issuance of the convertible senior notes is attached hereto as Exhibit 99.2. Each Lock-Up Agreement restricts sales of
the Corporation's stock by the particular Board members and officers and others for a period of 90 days following November 12, 2013, subject to exceptions for transactions pursuant to 10b5-1 plans and transactions necessary to meet tax
obligations resulting from vesting of awards made under any of the Corporation's stock plans. Lock-Up Agreements were entered into by the following Board members or officers: Jeffrey W. Benck, Gregory S. Clark, Bruce C. Edwards, Margaret A.
Evashenk, Paul F. Folino, Eugene J. Frantz, Jeffrey L. Hoogenboom, Beatriz V. Infante, Nersi Nazari, Michael J. Rockenbach, Randall G. Wick, and Dean A. Yoost. The foregoing description of the Lock-Up Agreements is qualified in its entirety by the
copy of the form of the Lock-Up Agreement attached hereto as Exhibit 10.2.
Accelerated Stock Buyback Master Confirmation
. The Corporation expects
to enter into (a) an Accelerated Stock Buyback Master Confirmation (the "ASB Agreement") with Goldman, Sachs & Co. ("Goldman") on November 12, 2013 and (b) a Supplemental Confirmation with Goldman, in the
form specified in the ASB, for the repurchase of one hundred million dollars ($100,000,000) worth of the Corporation's common stock, on November 12, 2013.
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b)
McCluney Departure
. Effective February 6, 2014, James M. McCluney will no longer be an employee and will no longer be Executive Chairman of the
Corporation.
(e)
McCluney Employment Agreement
. In connection with the appointment of James M. McCluney as Executive Chairman, the Corporation
entered into an Employment Agreement with
Form 8-K Page 2
Mr. McCluney, dated July 12, 2013 (the "Employment Agreement"), which is attached as an exhibit to the Corporation's Current Report on Form 8-K filed with the Securities
and Exchange Commission on July 15, 2013. Mr. McCluney's employment with the Corporation will end on February 6, 2014, and pursuant to the terms of the Employment Agreement, he will be provided with certain payments and benefits,
in accordance with a letter from Jeffrey W. Benck, the chief executive officer of the Corporation to Mr. Benck which is attached hereto as Exhibit 10.3 (the "McCluney Letter"). The Employment Agreement includes provisions that will
result in payments and stock plan award acceleration as described below:
•
Base salary through the departure date at a weekly rate of $11,288
•
Base salary severance payment of one year which is equal to $587,000
•
Executive Incentive Compensation Plan ("EICP") payment for the pro-rata portion of the fiscal quarter completed as of the departure date, with payment to be made when EICP payments are made to other executives
•
EICP severance payment of one times annual target (90% of base salary), which is equal to $528,300
•
COBRA insurance payments for 12 months as a lump sum for Mr. McCluney and his dependents, which is $16,714
•
Acceleration of the vesting of equity awards by one year, which specifically includes the following grants:
•
Performance cash settled unit granted 9/15/12, additional vesting of 22,594 units
•
Cash settled unit granted 9/15/12, additional vesting of 15,960 units
•
Performance restricted stock units granted 9/15/12, additional vesting of 22,594 units
•
Performance restricted stock units granted 9/2/11, additional vesting of 50,400 units
•
Restricted stock units granted 9/15/13, additional vesting of 27,943 units
•
Restricted stock units granted 9/15/12, additional vesting of 10,620 units
•
Restricted stock units granted 9/2/11, additional vesting of 36,000 units
•
ISO stock options granted 9/15/12 at $7.74, additional vesting of 12,919 options
•
ISO stock options granted 9/15/13 at $7.73, additional vesting of 0 options
•
NQ stock options granted 9/15/12 at $7.74, additional vesting of 81 options
•
NQ stock options granted 9/15/13 at $7.73, additional vesting of 8,732 options
The following is a summary of
the amounts above:
•
$22,576 base salary for each two week period until the departure date
•
$88,050 EICP adjusted pro-rata for the departure date, assuming target is met
•
$1,115,300 for base salary and EICP as one-year severance
•
$16,714 for COBRA to cover one year
•
186,111 units/shares of restricted stock/cash settled units as accelerated vesting
•
21,732 stock option accelerated vesting
Form 8-K Page 3
The foregoing description of the McCluney Letter is a summary and is qualified in its entirety by the terms of
the McCluney Letter, a copy of which is attached hereto as Exhibit 10.3 and is incorporated herein by reference.
Item 7.01.
Regulation FD Disclosure.
As of September 29, 2013, the Corporation has 10,676,581 securities
remaining available for future issuance under equity compensation plans (excluding the number of securities to be issued upon exercise of outstanding options, warrants and rights). This updates the number provided in the table of item 12 in the
Corporation's Form 10-K/A filed on October 25, 2013 which contained data as of June 30, 2013.
As of November 7, 2013, the Corporation
had 92,226,858 shares of common stock outstanding.
As of November 7, 2013, the Corporation had 338 registered holders of its common stock.
Item 8.01.
Other Events.
Size of the Board
. The Board intends, and approved an agreement with Elliott, to
decrease the number of authorized directors from 12 to 11 at the time of the next annual meeting of shareholders (the "Annual Meeting"), subject to increase in certain circumstances.
Nominees for Board Candidates
. The Board intends to include three candidates, who are expected to be independent under NYSE rules and not incumbents,
selected in collaboration with Elliott, as provided in the Elliott Agreement attached hereto as Exhibit 10.1, for election to the Board at the next Annual Meeting. The Board expects to nominate the following incumbent Board members for re-election
at the Annual Meeting: Jeffrey W. Benck, Gregory S. Clark, Bruce C. Edwards, Paul F. Folino, Eugene J. Frantz, Beatriz V. Infante, Nersi Nazari, and Dean A. Yoost. The following incumbent Board members will not stand for re-election at the Annual
Meeting: Michael P. Downey, Robert H. Goon, Don M. Lyle, and James M. McCluney.
Press Releases
. On November 11, 2013, the Corporation
published a press release announcing the Corporation's new three-part initiative to improve profitability and enhance shareholder value, which includes a $200 million share repurchase program. A copy of the press release is attached hereto as
Exhibit 99.1 and is incorporated herein by reference.
Also on November 11, 2013, the Corporation published a second press release announcing that it
intends to offer, subject to market and other conditions, $125 million of convertible senior notes due 2018 in a private offering to qualified institutional buyers. A copy of the press release is attached hereto as Exhibit 99.2 and is incorporated
herein by reference.
Preliminary Offering Circular
. In connection with the offering of the notes, the Corporation expects to disclose certain
supplemental information concerning the Corporation to potential purchasers of the notes in a preliminary offering circular dated November 11, 2013. An excerpt from the preliminary offering circular containing this supplemental information is
attached hereto as Exhibit 99.3 and is incorporated herein by reference.
Form 8-K Page 4
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number
Description of Document
10.1
Settlement Agreement, by and between Emulex Corporation and Elliott Associates, L.P., dated November 11, 2013
10.2
Form of Lock-Up Agreement
10.3
Letter, dated November 11, 2013, from Jeffrey W. Benck (President and Chief Executive Officer of Emulex Corporation) and James M. McCluney
99.1
Press release, November 11, 2013, entitled "Emulex Announces New Three-Part Initiative to Improve Profitability and Enhance Shareholder Value"
99.2
Press release, November 11, 2013, entitled "Emulex to Offer $125 Million of Convertible Senior Notes"
99.3
Excerpt from preliminary offering circular
Form 8-K Page 5
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned, hereunto duly authorized.
Dated: November 11, 2013
EMULEX CORPORATION
By:
/s/ MICHAEL J. ROCKENBACH
Michael J. Rockenbach
Executive Vice President and Chief Financial Officer
Form 8-K Page 6
EXHIBIT INDEX
Exhibit
Number
Description of Document
10.1
Settlement Agreement, by and between Emulex Corporation and Elliott Associates, L.P., dated November 11, 2013
10.2
Form of Lock-Up Agreement
10.3
Letter, dated November 11, 2013, from Jeffrey W. Benck (President and Chief Executive Officer of Emulex Corporation) and James M. McCluney
99.1
Press release, November 11, 2013, entitled "Emulex Announces New Three-Part Initiative to Improve Profitability and Enhance Shareholder Value"
99.2
Press release, November 11, 2013, entitled "Emulex to Offer $125 Million of Convertible Senior Notes"
99.3
Excerpt from preliminary offering circular
Form 8-K Page 7