exv10wl






Exhibit 10(1)




AMENDMENT NUMBER TWO

TO THE

HARRIS CORPORATION

1997 DIRECTORS’ DEFERRED COMPENSATION

AND ANNUAL STOCK UNIT AWARD PLAN

(AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2006)




     WHEREAS, Harris Corporation, a Delaware corporation (the “Corporation”), heretofore
has adopted and maintains the Harris Corporation 1997 Directors’ Deferred Compensation and Annual
Stock Unit Award Plan (Amended and Restated Effective January 1, 2006) (the “Plan”);



     WHEREAS, pursuant to Paragraph 12 of the Plan, the Board of Directors of the Corporation (the
“Board”) has the authority to amend the Plan; and



     WHEREAS, the Board has approved an amendment to the Plan to modify the definition of “Change
of Control”, effective as of August 28, 2010;



     NOW, THEREFORE, pursuant to action by the Board, the Plan hereby is amended, effective as of
August 28, 2010, as follows:




	 	1.	 	Paragraph 2 of the Plan hereby is amended to delete the definition of “Change of Control”
in its entirety and replace it with the following:
	 
	 	 	 	““Change in Control” shall be deemed to have occurred if:”






          (i) any “person” (as such term is defined in Section 3(a)(9) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”) and as used in Sections 13(d)(3) and 14(d)(2)
of the Exchange Act) is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the
Exchange Act), directly or indirectly, of securities of the Corporation representing 20% or
more of the combined voting power of the Corporation’s then outstanding securities eligible
to vote for the election of the Board (the “Corporation Voting Securities”); provided,
however, that the event described in this paragraph (i) shall not be deemed to be a Change
in Control by virtue of any of the following acquisitions: (a) by the Corporation or any
Subsidiary, (b) by any employee benefit plan sponsored or maintained by the Corporation or
any Subsidiary, (c) by any underwriter temporarily holding securities pursuant to an
offering of such securities, or (d) pursuant to a Non-Control Transaction (as defined in
paragraph (iii));




          (ii) individuals who, on July 3, 2010, constitute the Board (the “Incumbent Directors”)
cease for any reason to constitute at least a majority of the Board, provided that any
person becoming a director subsequent to July 3, 2010, whose appointment, election or
nomination for election was approved by a vote of at least two-thirds of the Incumbent
Directors who remain on the Board (either by a specific vote or by approval of the proxy
statement of the Corporation in which such person is named as a nominee for director,
without objection to such nomination) shall also be deemed to be an Incumbent Director;
provided, however, that no individual initially elected or nominated as a director of the
Corporation as a result of an actual or threatened election contest with respect to
directors or any other actual or threatened solicitation of proxies or consents by or on
behalf of any person other than the Board shall be deemed to be an Incumbent Director;




          (iii) there is consummated a merger, consolidation, share exchange or similar form of
corporate reorganization of the Corporation or any such type of transaction involving the
Corporation or any of its Subsidiaries that requires the approval of the Corporation’s
shareholders (whether for such transaction or the issuance of securities in the transaction
or otherwise) (a “Business Combination”), unless immediately following such Business
Combination: (a) more than 60% of the total voting power of the corporation resulting from
such Business Combination (including, without limitation, any company which directly or
indirectly has beneficial ownership of 100% of the Corporation Voting Securities) eligible
to elect directors of such corporation is represented by shares that were Corporation Voting
Securities immediately prior to such Business Combination (either by remaining outstanding
or being converted), and such voting power is in substantially the same proportion as the
voting power of such Corporation Voting Securities immediately prior to the Business
Combination, (b) no person (other than any publicly traded holding company resulting



 









 







from such Business Combination, or any employee benefit plan sponsored or maintained by the
Corporation (or the corporation resulting from such Business Combination)) becomes the
beneficial owner, directly or indirectly, of 20% or more of the total voting power of the
outstanding voting securities eligible to elect directors of the corporation resulting from
such Business Combination, and (c) at least a majority of the members of the board of
directors of the corporation resulting from such Business Combination were Incumbent
Directors at the time of the Board’s approval of the execution of the initial agreement
providing for such Business Combination (any Business Combination which satisfies the
conditions specified in (a), (b) and (c) shall be deemed to be a “Non-Control
Transaction”);




          (iv) the shareholders of the Corporation approve a plan of complete liquidation or
dissolution of the Corporation; or




          (v) the Corporation consummates a direct or indirect sale or other disposition of all
or substantially all of the assets of the Corporation and its Subsidiaries.




          Notwithstanding the foregoing, a Change in Control of the Corporation shall not be
deemed to occur solely because any person acquires beneficial ownership of more than 20% of
the Corporation Voting Securities as a result of the acquisition of Corporation Voting
Securities by the Corporation which reduces the number of Corporation Voting Securities
outstanding; provided, that if after such acquisition by the Corporation such person
becomes the beneficial owner of additional Corporation Voting Securities that increases the
percentage of outstanding Corporation Voting Securities beneficially owned by such person, a
Change in Control of the Corporation shall then occur.




          For the purposes of this definition of “Change in Control” the term “Subsidiary” shall
mean any entity of which the Corporation owns or controls, either directly or indirectly,
50% or more of the outstanding shares of stock normally entitled to vote for the election of
directors or of comparable equity participation and voting power.”




	 	2.	 	The Plan is hereby amended to replace all references to the phrase “Change of Control”
set forth therein with the phrase “Change in Control”. Notwithstanding the foregoing, any
document incorporating by reference the definition of “Change of Control” previously set
forth in the Plan shall be deemed to incorporate by reference the definition of “Change in
Control” set forth in the Plan by virtue of this amendment.




 









 











     IN WITNESS WHEREOF, Harris Corporation has caused this amendment to the Harris
Corporation 1997 Directors’ Deferred Compensation and Annual Stock Unit Award Plan to be executed
by its duly authorized officer on October 27, 2010.



	 	 	 	 	 
	 	HARRIS CORPORATION

 	 
	 	By:  	/s/ Jeffrey S. Shuman
 	 
	 	 	Jeffrey S. Shuman 	 
	 	 	Senior Vice President, Human Resources

and Corporate Relations 	 
	 



	 	 	 	 	 
	ATTEST

 	 	 
	/s/ Scott T. Mikuen
 	 	 
	Scott T. Mikuen 	 	 
	Secretary

Harris Corporation