EX-10.1






Exhibit 10.1




SUMMARY OF ANNUAL COMPENSATION OF OUTSIDE DIRECTORS




The following table summarizes the annual compensation of our outside directors effective as of
January 1, 2012. Employee directors are not separately compensated for service as a director.



Cash Retainer




	 	•	 	$55,000





Non-Executive Chairman of the Board Retainer




	 	•	 	$150,000





Audit Committee Chairperson Retainer




	 	•	 	$20,000





Committee Chairperson Retainer (other than Audit Committee) 




	 	•	 	$15,000





Board Meeting Attendance Fee




	 	•	 	$2,000





Committee Meeting Attendance Fee




	 	•	 	$2,000





CEO Search Committee Fee




	 	•	 	One-time fee payable to the three directors comprising the special CEO Search
Committee established in May 2011 for their service on the CEO Search Committee, as
approved by the Board of Directors on October 28, 2011 in the amounts of $25,000 for
Thomas A. Datillo, Chairperson of the CEO Search Committee, and $15,000 for each of
Stephen P. Kaufman and Gregory T. Swienton.





Deferred Compensation Plan 




	 	•	 	Under the terms of the Harris Corporation 2005 Directors’ Deferred Compensation Plan
(As Amended and Restated Effective January 1, 2009), as amended (the “2005 Directors’
Plan”), on January 1, April 1, July 1, and October 1 (each such day an “Award Date”) of
each year, Harris credits each non-employee director’s account with a number of Harris
stock equivalent units having a fair market value equal to $29,000 (for an annual rate of
$116,000), which amount may be changed from time to time by the Board. In addition, under
the 2005 Directors’ Plan, prior to the commencement of a calendar year each non-employee
director may make an irrevocable election to defer all or a portion of his or her
director compensation for the subsequent year or years. Amounts deferred at the election
of the non-employee director may be invested in investment alternatives similar to those
available under the Harris Corporation 401(k) Retirement Plan or in Harris stock
equivalent units, pursuant to which a non-employee director’s account is credited with a
number of units of Harris stock equivalents based upon the fair market value of Harris
common stock on the date of deferral. Such Harris stock equivalent units are equivalent
in value to our shares of common stock. A non-employee director may not transfer or
reallocate amounts invested in other investments into Harris stock equivalents. Amounts
credited in Harris stock equivalents may be reallocated into any other investment
alternatives, provided director minimum stock ownership guidelines are satisfied.
Deferred amounts and investment earnings on such amounts are payable in cash following
the non-employee director’s resignation, retirement, or death. Each Harris stock
equivalent unit is credited with dividend equivalents, which are deemed reinvested in
additional Harris stock equivalent units on the dividend payment date.






	 	•	 	Amounts invested in Harris stock equivalents shall be appropriately adjusted in the
event of any stock dividend or split, recapitalization, merger, spin-off, extraordinary
dividends, or other similar events.






	 	•	 	A non-employee director may elect to receive amounts deferred under the 2005
Directors’ Plan, including amounts deferred in the form of Harris stock equivalent units,
either in a cash lump sum on a date certain within five years of his or her resignation
or retirement or in annual substantially equal cash installments over a designated number
of years beginning on a date certain within five years of a director’s resignation or
retirement, provided that all amounts are fully paid within ten years of resignation or
retirement.






	 	•	 	Within ninety (90) days of a Change of Control (as defined in the 2005 Directors’
Plan), and to the extent permitted by Section 409A of the Internal Revenue Code, each
non-employee director (or former non-employee director) will receive a lump sum cash
payment equal to the then remaining balance in his or her account.






	 	•	 	The foregoing summary description of the 2005 Directors’ Plan is not complete and is
qualified in its entirety by, and should be read in conjunction with, the complete text
of the 2005 Directors’ Deferred Compensation Plan.





Travel and Other Expenses




	 	•	 	Actual expenses incurred in the performance of their services as directors are
reimbursed.





Director Education Institutes/Activities




	 	•	 	Reimbursed for costs and expenses.





Accidental Death and Dismemberment Insurance and Business Travel Insurance




	 	•	 	Up to $200,000 accidental death and dismemberment insurance and an additional $200,000
in the event a director is involved in an accident while traveling on business relating
to our affairs.





Charitable Gift Matching Program




	 	•	 	Annual maximum of $10,000 per director is matched to eligible educational institutions
and charitable organizations.