Summary of QLOGIC CORP - Yahoo! Finance

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 21, 2009, the Compensation Committee of the Board of Directors of QLogic Corporation, a Delaware corporation (the "Company"), approved the following annual cash incentive payments with respect to fiscal year 2009 for the Company's principal executive officer and principal financial officer and certain of the Company's executive officers whose compensation was disclosed in the Summary Compensation Table included in the Company's proxy statement for its last annual meeting of stockholders (together with the Company's principal executive officer and principal financial officer, the "Named Executive Officers"). There were no changes to the base salaries of the Named Executive Officers.

                                                                              FY2009 Annual
Name and Principal Position                                                  Cash Incentive
H.K. Desai, Chairman and Chief Executive Officer                             $     715,000
Simon Biddiscombe, Senior Vice President and Chief Financial Officer         $     195,000
Douglas D. Naylor, Vice President, Finance (1)                               $      75,000
Roger J. Klein, Senior Vice President and General Manager, Host
Solutions Group                                                              $     165,000
Jesse L. Parker, Vice President and General Manager, Network Solutions
Group                                                                        $     135,000

(1) Mr. Naylor served as Interim Chief Financial Officer from January 25, 2008 until April 22, 2008.

On May 21, 2009, the Compensation Committee also granted options and awarded restricted stock units under the Company's 2005 Performance Incentive Plan to the following Named Executive Officers.

                                                                     No. of Shares
Name and Principal Position                                        Subject to Option         No. of RSUs
H.K. Desai, Chairman and Chief Executive Officer                             370,000              89,600
Simon Biddiscombe, Senior Vice President and Chief Financial
Officer                                                                      100,000              24,200
Douglas D. Naylor, Vice President, Finance (1)                                25,000               7,600
Roger J. Klein, Senior Vice President and General Manager,
Host Solutions Group                                                         100,000              23,500
Jesse L. Parker, Vice President and General Manager, Network
Solutions Group                                                               60,000              14,800

(1) Mr. Naylor served as Interim Chief Financial Officer from January 25, 2008 until April 22, 2008.

The exercise price for each option is $13.96, representing the closing price of a share of the Company's Common Stock on the grant date (May 21, 2009) and each option vests over a four year term, with 25% vesting on the first anniversary of the grant date, and 6.25% vesting on a quarterly basis for the remaining three years.
Restricted stock units vest in equal annual installments over a four year term and are payable upon vesting in shares of the Company's common stock on a one - for -one basis.

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