QLogic Approves Grant of Equity-Based Award

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QLogic Corp
QLGC
, a leading supplier of high performance network infrastructure solutions, today announced that on December 10, 2014, the Compensation Committee of the Board of Directors of QLogic Corporation approved a grant of an equity-based award to an individual in connection with his commencing employment with the company and its subsidiaries and as an inducement material to his accepting such employment. The grant consisted of an award of 30,000 restricted stock units to a newly-hired non-executive employee that will vest based on the achievement of certain pre-established performance and service requirements. The grant was not individually negotiated and was made in accordance with Nasdaq Listing Rule 5635(c)(4).
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