Document:

EX-10.3 Registration Rights Agreement

 

EXHIBIT
10.3

 

 

 

 

 

 

REGISTRATION RIGHTS AGREEMENT

Between

HARRIS CORPORATION

and

HARRIS STRATEX NETWORKS, INC.

Dated:
January 26, 2007

 

 

 

 

 

 

 

 

REGISTRATION RIGHTS AGREEMENT

     REGISTRATION
RIGHTS AGREEMENT (the
“Agreement”), dated as of January 26, 2007,
between HARRIS CORPORATION, a Delaware corporation (“Harris”), and HARRIS STRATEX NETWORKS,
INC., a Delaware corporation (the “Company”).

     WHEREAS,
Harris, the Company, Stratex Networks, Inc., a Delaware corporation
(“Stratex”), and Stratex Merger Corp., a Delaware
corporation and a wholly owned subsidiary of the Company, have
entered into an Amended and Restated Formation, Contribution and
Merger Agreement, dated as of December 18, 2006 as amended by
that certain letter agreement, dated January 26, 2007 (the
“Formation Agreement”), among the parties thereto, pursuant to which the Company was formed to acquire Stratex through
the Merger and to receive the Contributed Assets from Harris in the Contribution Transaction, in
each case on the terms and subject to the conditions set forth in the Formation Agreement;

     WHEREAS, in the Contribution Transaction, Harris will receive all of the outstanding shares of
Class B Common Stock of the Company;

     WHEREAS, Harris was not willing to enter into the Formation Agreement without the undertakings
of the Company contained in this Agreement and the execution and delivery of this Agreement by the
Company is a condition to closing under Formation Agreement;

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants in the Agreements
the parties agree as follows:

     1. Definitions. (a) All capitalized terms used but not defined in this Agreement shall
have the meanings assigned to them in the Formation Agreement. In addition, the following terms
shall be defined as follows:

          “Affiliate” shall have the meaning assigned to such term under Rule 405 under the
Securities Act.

          “Applicable Securities” means, with respect to any Registration Statement, the
Registrable Securities identified in the Demand Notice or Piggyback Notice relating to such
Registration Statement and any Registrable Securities which any other Holder is entitled to, and
requests, be included is such registration statement within 20 days after receiving such notice.

          “Commission” means the Securities and Exchange Commission.

          “Common Stock” means, collectively, the shares of the Class A Common Stock and the
Class B Common Stock of the Company.

          “Demand Notice” means a notice given by a Holder pursuant to Section 2(a).

 

 

          “Demand Registration” means a registration under the Securities Act of an offer and
sale of Registrable Securities effected pursuant to Section 2 hereof.

          “Demand Registration Statement” means a registration statement filed under the
Securities Act by the Company pursuant to the provisions of Section 2 hereof, including the
Prospectus contained therein, any amendments and supplements to such registration statement,
including post-effective amendments, and all exhibits and all material incorporated by reference in
such registration statement.

          “Effectiveness Period” means, with respect to any Registration Statement, the period
during which such Registration Statement is effective.

          “Effective Time” means, with respect to any Registration Statement, the date on which
the Commission declares such Registration Statement effective or on which such Registration
Statement otherwise becomes effective under the Securities Act.

          “Electing Holder” means, with respect to any Registration, each Holder that is
entitled and elects to sell Registrable Securities pursuant to such Registration and this
Agreement.

          “Exchange Act” means the Securities Exchange Act of 1934, as amended.

          “Holder” means, at any time, a registered owner of any Registrable Securities or
securities convertible into, or exercisable or exchangeable for, Registrable Securities.

          “NASD” means the National Association of Securities Dealers, Inc.

          “NASD Rules” means the Rules of the NASD, as amended from time to time.

          “Person” means any individual, corporation (including not-for-profit), general or
limited partnership, limited liability company, joint venture, estate, trust, association,
organization, Government Entity or other entity of any kind or nature.

          “Piggyback Demand Registration” means a registration under the Securities Act of an
offer and sale of Registrable Securities effected pursuant to Section 3 hereof.

          “Prospectus” means the prospectus (including, without limitation, any preliminary
prospectus, any final prospectus and any prospectus that discloses information previously omitted
from a prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A
under the Act) included in a Registration Statement, as amended or supplemented by any prospectus
supplement with respect to the terms of the offering of any portion of the Applicable Securities
covered by a Registration Statement and by all other amendments and supplements to such prospectus,
including all material incorporated by

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reference in such prospectus and all documents filed after the date of such prospectus by the
Company under the Exchange Act and incorporated by reference therein.

          “Registrable Securities” means (a) any Common Stock or other securities acquired by
Harris pursuant to any of the Agreements or otherwise from the Company, (b) any securities issued
or distributed with respect to, or in exchange for, any such Common Stock or securities (whether
directly or indirectly or in one or a series of transactions) pursuant to any reclassification,
merger, consolidation, reorganization or other transaction or procedure and (c) any securities
issued or distributed with respect to, or in exchange for, any securities described in clause (b)
or this clause (c) (whether directly or indirectly or in one or a series of transactions) pursuant
to any reclassification, merger, consolidation, reorganization or other transaction or procedure,
other than, in the case of each of clauses (a), (b) and (c), any such securities that are
Unrestricted Securities.

          “Registration” means a Demand Registration or Piggyback Registration.

          “Registration Expenses” means all expenses incident to the Company’s performance of
its obligations in respect of any Registration of Registrable Securities pursuant to this
Agreement, including but not limited to all registration, filing and NASD fees, fees of any stock
exchange upon which the Registrable Securities are listed, all fees and expenses of complying with
securities or blue sky laws, all word processing, duplicating and printing expenses, messenger and
delivery expenses, the fees and disbursements of counsel for the Company and of its independent
public accountants, including the expenses of any special audits or “comfort” letters required by
or incident to such performance and compliance, premiums and other costs of policies of insurance
obtained by the Company against liabilities arising out of the public offering of Registrable
Securities being registered and any fees and disbursements of underwriters customarily paid by
issuers; provided, however, that notwithstanding the foregoing Registration Expenses shall not
include any fees and disbursements of counsel retained by any Holders or any transfer taxes or
underwriting discounts or commissions relating to the sale of the Registrable Securities.

          “Registration Statement” means a registration statement filed by the Company with the
Commission under the Securities Act pursuant to the provisions of Section 2 or Section
3 hereof, including the Prospectus contained therein, any amendments and supplements to such
registration statement, including post-effective amendments, and all exhibits and all material
incorporated by reference in such registration statement.

          “Rules and Regulations” means the published rules and regulations of the Commission
promulgated under the Securities Act or the Exchange Act, as in effect at any relevant time.

          “Securities Act” means the Securities Act of 1933, as amended.

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          “Unrestricted Security” means any Registrable Security that (a) has been offered and
sold pursuant to a registration statement that has become effective under the Securities Act, (b)
has been transferred in compliance with Rule 144 under the Securities Act (or any successor
provision thereto) under circumstances after which such Registrable Securities became freely
transferable without registration under the Securities Act and any legend relating to transfer
restrictions under the Securities Act has been removed or (c) is transferable pursuant to paragraph
(k) of Rule 144 (or any successor provision thereto).

     (b) The following terms shall have the meanings set forth in the Sections indicated:

	 	 	 	 	 	 
	 
	 	Defined Term	 	 	Section	 
	 	Agreement
	 	 	Preamble	 
	 	Company
	 	 	Preamble	 
	 	Demand Date
	 	 	Section
2(a)	 
	 	Demand Notice
	 	 	Section 2(a)	 
	 	Demanding Holder
	 	 	Section 2(a)	 
	 	Formation Agreement
	 	 	Recitals	 
	 	Harris
	 	 	Preamble	 
	 	Indemnified Person
	 	 	Section 6(a)	 
	 	Indemnitee
	 	 	Section 6(c)	 
	 	Indemnitor
	 	 	Section 6(c)	 
	 	Intended Offering Notice
	 	 	Section 3(a)	 
	 	Maximum Number
	 	 	Section 2(d)	 
	 	Piggyback Notice
	 	 	Section 3(a)	 
	 	Postponement Period
	 	 	Section 4(c)	 
	 	Stratex
	 	 	Recitals	 
	 	underwritten offering
	 	 	Section 2(d)	 
	 

     2. Demand Registrations. (a) Each Holder shall have the right, subject to the terms
of this Agreement, to require the Company to register for offer and sale under the Securities Act
all or a portion of the Registrable Securities then owned by such Holder subject to the
requirements and limitations in this Section 2. In order to exercise such right, the Holder
(the “Demanding Holder”) must give written notice to the Company (a “Demand
Notice”) requesting that the Company register under the Securities Act the offer and sale of
Registrable Securities (i)

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having a market value on the date the Demand Notice is received (the “Demand Date”) of
at least $50 million based on the then prevailing market price, (ii) representing at least 5% of
the outstanding Common Stock (on a fully diluted basis) or (iii) representing all of the
Registrable Securities then held by such Holder and its Affiliates. Upon receipt of the Demand
Notice, the Company shall (i) promptly notify the other Holders of the receipt of such Demand
Notice, (ii) prepare and file with the Commission as soon as practicable and in no event later than
90 days after the Demand Date a Demand Registration Statement relating to the offer and sale of the
Applicable Securities on any available form requested by the Demanding Holder (which may include a
“shelf” Registration Statement under Rule 415 promulgated under the Securities Act solely for use
in connection with delayed underwritten offerings under Rule 415 promulgated under the Securities
Act) and (iii) use reasonable efforts to cause such Demand Registration Statement to be declared
effective under the Securities Act as promptly as practicable. The Company shall use reasonable
efforts to have each Demand Registration Statement remain effective until the earlier of (i) two
years (in the case of a shelf Demand Registration Statement) or 90 days (in the case of any other
Demand Registration Statement) from the Effective Time of such Registration Statement and (ii) such
time as all of the Applicable Securities have been disposed of by the Electing Holders.

     (b) The Company shall have the right to postpone (or, if necessary or advisable, withdraw) the
filing, or to delay the effectiveness, of a Registration Statement or offers and sales of
Applicable Securities registered under a shelf Demand Registration Statement if the board of
directors of the Company determines in good faith that such Registration would interfere with any
pending financing, acquisition, corporate reorganization or other corporate transaction involving
the Company or any of its Subsidiaries, or would otherwise be seriously detrimental to the Company
and its Subsidiaries, taken as a whole, and furnishes to the Electing Holders a copy of a
resolution of the board of directors of the Company setting forth such determination; provided,
however, that the Company may postpone a Demand Registration or offers and sales of Applicable
Securities under a shelf Demand Registration Statement no more than once in any 12 month period and
that no single postponement shall exceed 90 days in the aggregate. The Company shall advise the
Electing Holders of any such determination as promptly as practicable.

     (c) Notwithstanding anything in this Section 2, the Company shall not be obligated to
take any action under this Section 2:

	 	(i)	 	with respect to more than four non-shelf Demand Registration
Statements relating to underwritten offerings which have become effective and
which covered all the Registrable Securities requesting to be included therein,
or
	 
	 	(ii)	 	with respect to more than two shelf Demand Registration
Statements which have become and remained effective as required by this
Agreement.

     (d) The Company may include in any registration requested pursuant to Section 2(a)
hereof other securities for sale for its own account or for the account of another Person, subject
to the following sentence. In connection with an underwritten offering, if the managing

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underwriter advises the Company and the Electing Holders in writing that in its opinion the
number of securities requested to be registered exceeds the maximum number which can be sold in
such offering without materially adversely affecting the pricing, timing or likely success of the
offering (with respect to any offering, the “Maximum Number”), the Company shall include
such Maximum Number in such Registration as follows: (i) first, the Applicable Securities requested
to be registered by the Demanding Holder, (ii) second, the Applicable Securities requested to be
included by any other Electing Holders, if any, (iii) third, any securities proposed to be included
by the Company and (iv) fourth, any other securities requested to be included in such Registration.
For purposes of this Agreement, an “underwritten offering” shall be an offering pursuant to
which securities are sold to a broker-dealer or other financial institution or group thereof for
resale by them to investors.

     (e) The Demanding Holder shall have the right to withdraw its Demand Notice (in which case
such Demand Notice shall be deemed never to have been given for purposes of Section 2(a))
(i) at any time prior to the time the Demand Registration Statement has been declared or becomes
effective if the Demanding Holder reimburses the Company for the reasonable out-of-pocket expenses
incurred by it prior to such withdrawal in effecting such Registration, (ii) upon the issuance by
the Commission or any court or other governmental agency or authority of a stop order, injunction
or other order which prohibits or interferes with such Registration, (iii) if the conditions to
closing specified in the purchase agreement or underwriting agreement entered into in connection
with such registration are not satisfied other than as a result of default by the Demanding Holder,
(iv) there has been a material adverse change in market conditions or in the Company’s business,
financial condition, results of operations or prospects since the date of such Demand Notice, or
(v) if the Company exercises any of its rights under Section 2(b) of this Agreement. If the
Holders withdraw a Demand Notice pursuant to this Section 2(e) and the Company nevertheless
decides to continue with the Registration as to securities other than the Applicable Securities,
then the Holders shall be entitled to participate in such Registration pursuant to Section
3 hereof, but in such case the Intended Offering Notice must be given to the Holders at least
10 business days prior to the anticipated filing date of the Registration Statement and the Holders
shall be required to give the Piggyback Notice no later than five business days after the Company’s
delivery of such Intended Offering Notice.

     (f) If any Registration pursuant to this Section 2 shall relate to an underwritten
offering, the Demanding Holder shall select the managing underwriter or underwriters with the
consent of the Company, which consent shall not be unreasonably withheld or delayed, and the right
of any other Holder to participate therein shall be conditioned upon such Holder’s participation in
the underwriting agreements and arrangements required by this Agreement.

     3. Piggyback Registrations. (a) If at any time the Company intends to file on its
behalf or on behalf of any holder of its securities a Registration Statement under the Securities
Act in connection with a public offering of any securities of the Company (other than a
registration statement on Form S-8 or Form S-4 or their successor forms), then the Company shall
give written notice of such intention (an “Intended Offering Notice”) to each Holder at
least

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20 business days prior to the date such Registration Statement is filed. Such Intended
Offering Notice shall offer to include in such Registration Statement for offer to the public the
number or amount of Registrable Securities as each such Holder may request, subject to the
conditions set forth herein, and shall specify, to the extent then known, the number and class of
securities proposed to be registered, the proposed date of filing of such Registration Statement,
any proposed means of distribution of such securities, any proposed managing underwriter or
underwriters of such securities, together with a good faith estimate by the Company of the proposed
maximum offering price of such securities. Any Holder that elects to have its Registrable
Securities offered and sold pursuant to such Registration Statement shall so advise the Company in
writing (such written notice from any such Holder being a “Piggyback Notice”) not later
than seven business days after the date on which such Holder received the Intended Offering Notice,
setting forth the number of Registrable Securities that such Holder desires to have offered and
sold pursuant to such Registration Statement. Upon the request of the Company, the Electing Holders
shall enter into such underwriting, custody and other agreements as shall be customary in
connection with registered secondary offerings or necessary or appropriate in connection with the
offering. Each Holder shall be permitted to withdraw all or part of its Applicable Securities from
any Registration pursuant to this Section 3 at any time prior to the sale thereof (or, if
applicable, the entry into a binding agreement for such sale). If any Registration pursuant to this
Section 3 shall relate to an underwritten offering, the right of any Holder to participate
therein shall be conditioned upon such Holder’s participation in the underwriting agreements and
arrangements required by this Agreement.

     (b) In connection with an underwritten offering, if the managing underwriter or underwriters
advise the Company in writing that in its or their opinion the number of securities proposed to be
registered exceeds the Maximum Number with respect to such offering, the Company shall include in
such Registration such Maximum Number as follows: (i) first, the securities that the Company
proposes to sell, (ii) second, the Applicable Securities requested to be included in such
Registration pro rata among the Electing Holders thereof based on the respective amount of
Applicable Securities owned by them and (iii) third, if any, securities held by other holders of
securities of the Company who have requested that their securities be included in such Registration
Statement and who hold contractual registration rights with respect to such securities.

     (c) The rights of the Holders pursuant to Section 2 hereof and this Section 3
are cumulative, and the exercise of rights under one such Section shall not exclude the subsequent
exercise of rights under the other such Section (except to the extent expressly provided otherwise
herein). Notwithstanding anything herein to the contrary, the Company may abandon and/or withdraw
any registration as to which rights under Section 3 may exist (or have been exercised) at
any time and for any reason without liability hereunder. In such event, the Company shall notify
each Holder that has delivered a Piggyback Notice to participate therein. No Registration of
Registrable Securities effected pursuant to a request under this Section 3 shall be deemed
to be, or shall relieve the Company of its obligation to effect, a Registration upon request under
Section 2 hereof. The Company may enter into other registration rights agreements;
provided,

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however, that the rights and benefits of a holder of securities of the Company with respect to
registration of such securities as contained in any such other agreement shall not be inconsistent
with, or adversely affect, the rights and benefits of holders of Registrable Securities as
contained in this Agreement.

     4. Registration Procedures. In connection with a Registration Statement, the
following provisions shall apply:

     (a) Each Electing Holder shall in a timely manner (i) deliver to the Company and its counsel a
duly completed copy of any form of notice and questionnaire reasonably requested by the Company and
(ii) provide the Company and its counsel with such other information as to itself as may be
required by law for inclusion in the Registration Statement.

     (b) The Company shall furnish to each Electing Holder, prior to the Effective Time, a copy of
the Registration Statement initially filed with the Commission, and shall furnish to such Electing
Holders copies of each amendment thereto and each amendment or supplement, if any, to the
Prospectus included therein.

     (c) The Company shall promptly take such action as may be reasonably necessary so that (i)
each of the Registration Statement and any amendment thereto and the Prospectus forming part
thereof and any amendment or supplement thereto (and each report or other document incorporated
therein by reference in each case), when it becomes effective, complies in all material respects
with the Securities Act and the Exchange Act and the respective rules and regulations thereunder,
(ii) each of the Registration Statement and any amendment thereto does not, when it becomes
effective, contain an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not misleading and (iii) each of
the Prospectus forming part of the Registration Statement, and any amendment or supplement to such
Prospectus, does not at any time during the period during which the Company is required to keep a
Registration Statement continuously effective under Section 2(a) (other than any period
during which it is entitled and elects to postpone offers and sales under Section 2(b)
(each, a “Postponement Period”)) include an untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading.

     (d) The Company shall, promptly upon learning thereof, advise each Electing Holder, and shall
confirm such advice in writing if so requested by any such Electing Holder:

	 	(i)	 	when the Registration Statement and any amendment thereto has
been filed with the Commission and when the Registration Statement or any
post-effective amendment thereto has become effective;
	 
	 	(ii)	 	of any request by the Commission for amendments or supplements
to the Registration Statement or the Prospectus included therein or for
additional information;

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	 	(iii)	 	of the issuance by the Commission of any stop order suspending
the effectiveness of the Registration Statement or the initiation of any
proceedings for such purpose;
	 
	 	(iv)	 	of the receipt by the Company of any notification with respect
to the suspension of the qualification of the securities included in the
Registration Statement for sale in any jurisdiction or the initiation of any
proceeding for such purpose;
	 
	 	(v)	 	following the effectiveness of any Registration Statement, of
the happening of any event or the existence of any state of facts that requires
the making of any changes in the Registration Statement or the Prospectus
included therein so that, as of such date, such Registration Statement and
Prospectus do not contain an untrue statement of a material fact and do not
omit to state a material fact required to be stated therein or necessary to
make the statements therein (in the case of the Prospectus, in light of the
circumstances under which they were made) not misleading (which advice shall be
accompanied by an instruction to such Electing Holders to suspend the use of
the Prospectus until the requisite changes have been made which instruction
such Electing Holders agree to follow); and
	 
	 	(vi)	 	if at any time any of the representations and warranties of the
Company contemplated by paragraph (l) below cease to be true and correct or
will not be true and correct as of the closing date for the offering.

     (e) The Company shall use its reasonable best efforts to prevent the issuance, and if issued
to obtain the withdrawal, of any order suspending the effectiveness of the Registration Statement
at the earliest possible time.

     (f) The Company shall furnish to each Electing Holder, without charge, at least one copy of
the Registration Statement and all post-effective amendments thereto, including financial
statements and schedules, and, if such Electing Holder so requests in writing, all reports, other
documents and exhibits that are filed with or incorporated by reference in the Registration
Statement.

     (g) The Company shall, during the period during which the Company is required to keep a
Registration Statement continuously effective under Section 2(a) or elects to keep
effective under Section 3(a), deliver to each Electing Holder and any managing underwriter
or agent, without charge, as many copies of the Prospectus (including each preliminary Prospectus)
included in the Registration Statement and any amendment or supplement thereto and other documents
as they may reasonably request to facilitate the distribution of the Registrable Securities; and
the Company consents (except during the continuance of any event described in Section
4(d)(v) hereof) to the use of the Prospectus, with any amendment or supplement thereto, by each
of the Electing Holders and any managing underwriter or agent in connection with the

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offering and sale of the Applicable Securities covered by the Prospectus and any amendment or
supplement thereto during such period.

     (h) Prior to any offering of Applicable Securities pursuant to the Registration Statement, the
Company shall (i) use reasonable efforts to register or qualify or cooperate with the Electing
Holders and their respective counsel in connection with the registration or qualification of such
Applicable Securities for offer and sale under any applicable securities or “blue sky” laws of such
jurisdictions within the United States as any Electing Holder may reasonably request, (ii) use
reasonable efforts to keep such registrations or qualifications in effect and comply with such laws
so as to permit the continuance of offers and sales in such jurisdictions for the period during
which the Company is required to keep a Registration Statement continuously effective under
Section 2(a) or elects to keep effective under Section 3(a) and (iii) take any and
all other actions reasonably requested by an Electing Holder which are necessary or advisable to
enable the disposition in such jurisdictions of such Applicable Securities; provided, however, that
nothing contained in this Section 4(h) shall require the Company to (A) qualify as a
foreign corporation or as a dealer in securities in any jurisdiction where it would not otherwise
be required to qualify but for this Section 4(h) or (B) take any action which would subject
it to general service of process or taxation in any such jurisdiction if it is not then so subject.

     (i) The Company shall, if requested by the Electing Holders, use reasonable best efforts to
cause all such Applicable Securities to be sold pursuant to the Registration Statement to be listed
on any securities exchange or automated quotation service on which securities of the Company are
listed or quoted.

     (j) The Company shall cooperate with the Electing Holders to facilitate the timely preparation
and delivery of certificates representing Applicable Securities to be sold pursuant to the
Registration Statement, which certificates shall comply with the requirements of any securities
exchange or automated quotation service on which any securities of the Company are listed and
quoted, and which certificates shall be free of any restrictive legends and in such permitted
denominations and registered in such names as Electing Holders or any managing underwriter or agent
may request in connection with the sale of Applicable Securities pursuant to the Registration
Statement.

     (k) Upon the occurrence of any fact or event contemplated by Section 4(d)(v) hereof,
the Company shall promptly prepare a post-effective amendment or supplement to the Registration
Statement or the Prospectus, or any document incorporated therein by reference, or file any other
required document so that, after such amendment or supplement, such Registration Statement and
Prospectus do not contain an untrue statement of a material fact and do not omit to state a
material fact required to be stated therein or necessary to make the statements therein (in the
case of the Prospectus, in light of the circumstances under which they were made) not misleading;
provided, however, that the Company shall not be required to take any such action during a
Postponement Period (but it shall promptly thereafter). In the event that the Company notifies the
Electing Holders of the occurrence of any fact or event contemplated by Section 

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4(d)(v) hereof, each Electing Holder agrees, as a condition of the inclusion of any of
such Electing Holder’s Applicable Securities in the Registration Statement, to suspend the use of
the Prospectus until the requisite changes to the Prospectus have been made.

     (l) The Company shall, together with all Electing Holders, enter into such customary
agreements (including an underwriting agreement in customary form in the event of an underwritten
offering) and take all other reasonable and appropriate action in order to expedite and facilitate
the registration and disposition of the Registrable Securities, and in connection therewith, if an
underwriting agreement is entered into, cause the same to contain indemnification provisions and
procedures substantially similar to those set forth in Section 6 hereof with respect to all
parties to be indemnified pursuant to Section 6 hereof. In addition, in such agreements,
the Company will make such representations and warranties to the Electing Holder(s) and the
underwriters or agents, if any, in form, substance and scope as are customarily made by issuers in
primary equity offerings. The Electing Holder(s) shall be party to such agreements and may, at
their option, require that any or all of the representations and warranties by, and the other
agreements on the part of, the Company to and for the benefit of such underwriters shall also be
made to and for the benefit of the Electing Holders and that any or all of the conditions precedent
to the obligations of such underwriters under such underwriting agreement be conditions precedent
to the obligations of the Electing Holders. No Electing Holder shall be required to make any
representations or warranties to or agreements with the Company or the underwriters or agents other
than representations, warranties or agreements relating to such Electing Holder, its Registrable
Securities and its intended method of distribution or any other representations required by law.

     (m) If requested by the managing underwriter in any underwritten offering, the Company and
each Holder (whether or not an Electing Holder) will agree to such limitations on sale, transfer,
short sale, hedging, option, swap and other transactions as are then customary in underwriting
agreements for registered underwritten offerings; provided, however, that such limitations shall
not continue beyond the 180th day after the effective date of the Registration Statement in
question or, if later, the commencement of the public distribution of securities to the extent
timely notified in writing by the managing underwriters.

     (n) The Company shall use best efforts to:

	 	(i)	 	(A) make reasonably available for inspection by Electing
Holders, any underwriter participating in any disposition pursuant to the
Registration Statement, and any attorney, accountant or other agent retained by
such Holders or any such underwriter all relevant financial and other records,
pertinent corporate documents and properties of the Company and its
subsidiaries, and (B) cause the Company’s officers, directors and employees to
participate in road shows or other customary marketing activities and to supply
all information reasonably requested by such Electing Holders or any such
underwriter, attorney, accountant or agent in connection with the Registration
Statement as is customary for similar due

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	 	 	 	diligence examinations; provided, however, that all records, information and
documents that are designated by the Company, in good faith, as confidential
shall be kept confidential by such Holders and any such underwriter,
attorney, accountant or agent, unless such disclosure is required in
connection with a court proceeding after such advance notice to the Company
(to the extent practicable in the circumstances) so as to permit the Company
to contest the same, or required by law, or such records, information or
documents become available to the public generally or through a third party
without an accompanying obligation of confidentiality; and provided further
that, the foregoing inspection and information gathering shall, to the
greatest extent possible, be coordinated on behalf of the Electing Holders
and the other parties entitled thereto by one counsel designated by and on
behalf of the Electing Holders and such other parties;
	 	(ii)	 	in connection with any underwritten offering, obtain opinions
of counsel to the Company (which counsel and opinions (in form, scope and
substance) shall be reasonably satisfactory to the underwriters) addressed to
the underwriters, covering the matters customarily covered in opinions
requested in secondary underwritten offerings of equity securities, to the
extent reasonably required by the applicable underwriting agreement;
	 
	 	(iii)	 	in connection with any underwritten offering, obtain “cold
comfort” letters and updates thereof from the independent public accountants of
the Company (and, if necessary, from the independent public accountants of any
Subsidiary of the Company or of any business acquired by the Company for which
financial statements and financial data are, or are required to be, included in
the Registration Statement), addressed to each Electing Holder participating in
such underwritten offering (if such Electing Holder has provided such letter,
representations or documentation, if any, required for such cold comfort letter
to be so addressed) and the underwriters, in customary form and covering
matters of the type customarily covered in “cold comfort” letters in connection
with secondary underwritten offerings of equity securities;
	 
	 	(iv)	 	in connection with any underwritten offering, deliver such
documents and certificates as may be reasonably requested by any Electing
Holders participating in such underwritten offering and the underwriters, if
any, including, without limitation, certificates to evidence compliance with
any conditions contained in the underwriting agreement or other agreements
entered into by the Company; and
	 
	 	(v)	 	use its best efforts to comply with all applicable rules and
regulations of the Commission and make generally available to its security
holders, as

-12-

 

	 	 	 	soon as reasonably practicable (but not more than fifteen months) after the
effective date of the Registration Statement, an earnings statement
satisfying the provisions of Section 11(a) of the Securities Act and
the rules and regulations promulgated thereunder.

     (o) Not later than the effective date of the applicable Registration Statement, the Company
shall provide a CUSIP number for all Registrable Securities and provide the applicable transfer
agent with printed certificates for the Registrable Securities which are in a form eligible for
deposit with The Depository Trust Company.

     (p) The Company shall cooperate with each Electing Holder and each underwriter or agent
participating in the disposition of such Registrable Securities and their respective counsel in
connection with any filings required to be made with the NASD.

     (q) As promptly as practicable after filing with the Commission of any document which is
incorporated by reference into the Registration Statement or the Prospectus, the Company shall
provide copies of such document to counsel for each Electing Holder and to the managing
underwriters and agents, if any.

     (r) The Company shall provide and cause to be maintained a transfer agent and registrar for
all Registrable Securities covered by such Registration Statement from and after a date not later
than the effective date of such Registration Statement.

     (s) The Company shall use reasonable best efforts to take all other steps necessary to effect
the timely registration, offering and sale of the Applicable Securities covered by the Registration
Statements contemplated hereby.

     5. Registration Expenses. The Company shall bear all of the Registration Expenses and
all other expenses incurred by it in connection with the performance of its obligations under this
Agreement. The Electing Holders shall bear all other expenses relating to any Registration or sale
in which such Electing Holders participate, including without limitation the fees and expenses of
counsel to such Electing Holders and any applicable underwriting discounts or commissions.

     6. Indemnification and Contribution. (a) Upon the Registration of Applicable
Securities pursuant to Section 2 or Section 3 hereof, the Company shall indemnify
and hold harmless each Electing Holder and each underwriter, selling agent or other securities
professional, if any, which facilitates the disposition of Applicable Securities, and each of their
respective officers and directors and each person who controls such Electing Holder, underwriter,
selling agent or other securities professional within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act (each such Person, an “Indemnified
Person”) against any losses, claims, damages or liabilities, joint or several, to which such
Indemnified Person may become subject under the Securities Act or otherwise, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based
upon an untrue

-13-

 

statement or alleged untrue statement of a material fact contained in any Registration
Statement under which such Applicable Securities are to be registered under the Securities Act, or
any Prospectus contained therein or furnished by the Company to any Indemnified Person, or any
amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission
to state therein a material fact required to be stated therein or necessary to make the statements
therein not misleading, and the Company hereby agrees to reimburse such Indemnified Person for any
legal or other expenses reasonably incurred by them in connection with investigating or defending
any such action or claim as such expenses are incurred; provided, however, that the Company shall
not be liable to any such Indemnified Person in any such case to the extent that any such loss,
claim, damage, liability or expense arises out of or is based upon an untrue statement or alleged
untrue statement or omission or alleged omission made in such Registration Statement or Prospectus,
or amendment or supplement, in reliance upon and in conformity with written information furnished
to the Company by such Indemnified Person or its agent expressly for use therein; and provided,
further, that the Company shall not be liable to the extent that any loss, claim, damage, liability
(or action or proceeding in respect thereof) or expense arises out of or is based upon the use of
any Prospectus after such time as the Company has advised the Electing Holder in writing that a
post-effective amendment or supplement thereto is required, except such Prospectus as so amended or
supplemented.

     (b) Each Electing Holder agrees, as a consequence of the inclusion of any of such Holder’s
Applicable Securities in such Registration Statement, and shall cause each underwriter, selling
agent or other securities professional, if any, which facilitates the disposition of Applicable
Securities shall agree, as a consequence of facilitating such disposition of Applicable Securities,
severally and not jointly, to indemnify and hold harmless the Company, its directors and officers
and each person, if any, who controls the Company within the meaning of either Section 15 of the
Securities Act or Section 20 of the Exchange Act, against any losses, claims, damages or
liabilities to which the Company or such other persons may become subject, under the Securities Act
or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a
material fact contained in such Registration Statement or Prospectus, or any amendment or
supplement, or arise out of or are based upon the omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements therein not
misleading, in each case to the extent, but only to the extent, that such untrue statement or
alleged untrue statement or omission or alleged omission was made in reliance upon and in
conformity with written information furnished to the Company by such Holder, underwriter, selling
agent or other securities professional, as applicable, expressly for use therein; provided,
however, that notwithstanding anything herein to the contrary the maximum aggregate amount that any
Electing Holder shall be required to pay pursuant to this Section 6 in respect of any
Registration shall be the net proceeds received by such Electing Holder from sales of Registrable
Securities pursuant to such Registration.

     (c) Promptly after receipt by any Person entitled to indemnity under Section 6(a) or
(b) hereof (an “Indemnitee”) of any notice of the commencement of any action or claim, such

-14-

 

Indemnitee shall, if a claim in respect thereof is to be made against any other person under
this Section 6 (an “Indemnitor”), notify such Indemnitor in writing of the
commencement thereof, but the omission so to notify the Indemnitor shall not relieve it from any
liability which it may have to any Indemnitee except to the extent the Indemnitor is actually
prejudiced thereby. In case any such action shall be brought against any Indemnitee and it shall
notify an Indemnitor of the commencement thereof, such Indemnitor shall be entitled to participate
therein and, to the extent that it shall wish, jointly with any other Indemnitor similarly
notified, to assume the defense thereof with counsel reasonably satisfactory to such Indemnitee
(which shall not be counsel to the Indemnitor without the consent of the Indemnitee, such consent
not to be unreasonably withheld or delayed). After notice from the Indemnitor to such Indemnitee of
its election so to assume the defense thereof, such Indemnitor shall not be liable to such
Indemnitee under this Section 6 or otherwise for any legal expenses of other counsel or any
other expenses, in each case subsequently incurred by such Indemnitee, in connection with the
defense thereof (other than reasonable costs of investigation) unless the Indemnitee shall have
been advised by counsel that representation of the Indemnitee by counsel provided by the Indemnitor
would be inappropriate due to actual or potential conflicting interests between the Indemnitee and
the Indemnitor, including situations in which there are one or more legal defenses available to the
Indemnitee that are different from or additional to those available to Indemnitor; provided,
however, that the Indemnitor shall not, in connection with any one such action or separate but
substantially similar actions arising out of the same general allegations, be liable for the fees
and expenses of more than one separate counsel at any time for all Indemnitees, except to the
extent that local counsel, in addition to their regular counsel, is required in order to
effectively defend against such action. No Indemnitor shall, without the written consent of the
Indemnitee, effect the settlement or compromise of, or consent to the entry of any judgment with
respect to, any pending or threatened action or claim in respect of which indemnification or
contribution may be sought hereunder (whether or not the Indemnitee is an actual or potential party
to such action or claim) unless such settlement, compromise or judgment (i) includes an
unconditional release of the Indemnitee from all liability arising out of such action or claim and
(ii) does not include a statement as to, or an admission of, fault, culpability or a failure to
act, by or on behalf of any Indemnitee. No indemnification shall be available in respect of any
settlement of any action or claim effected by an Indemnitee without the prior written consent of
the Indemnitor, which consent shall not be unreasonably withheld or delayed.

     (d) If the indemnification provided for in this Section 6 is unavailable or
insufficient to hold harmless an Indemnitee under Section 6(a) or Section 6(b)
hereof in respect of any losses, claims, damages or liabilities (or actions in respect thereof)
referred to therein, then each Indemnitor shall contribute to the amount paid or payable by such
Indemnitee as a result of such losses, claims, damages or liabilities (or actions in respect
thereof) in such proportion as is appropriate to reflect the relative fault of the Indemnitor and
the Indemnitee in connection with the statements or omissions which resulted in such losses,
claims, damages or liabilities (or actions in respect thereof), as well as any other relevant
equitable considerations. The relative fault of such Indemnitor and Indemnitee shall be determined
by reference to, among other things, whether the untrue or alleged untrue statement of a material
fact or omission or

-15-

 

alleged omission to state a material fact relates to information supplied by such Indemnitor
or by such Indemnitee, and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The parties hereto agree that it
would not be just and equitable if contribution pursuant to this Section 6(d) were
determined solely by pro rata allocation (even if the Electing Holders or any underwriters, selling
agents or other securities professionals or all of them were treated as one entity for such
purpose) or by any other method of allocation which does not take account of the considerations
referred to in this Section 6(d). The amount paid or payable by an Indemnitee as a result
of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above
shall be deemed to include any legal or other fees or expenses reasonably incurred by such
Indemnitee in connection with investigating or defending any such action or claim. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The obligations of the Electing Holders and any underwriters,
selling agents or other securities professionals in this Section 6(d) to contribute shall
be several in proportion to the percentage of Applicable Securities registered or underwritten, as
the case may be, by them and not joint.

     7. Miscellaneous. (a) THIS AGREEMENT SHALL BE DEEMED TO BE MADE IN AND IN ALL
RESPECTS SHALL BE INTERPRETED, CONSTRUED AND GOVERNED BY AND IN ACCORDANCE WITH THE LAW OF THE
STATE OF DELAWARE WITHOUT REGARD TO THE CONFLICT OF LAW PRINCIPLES THEREOF. The parties hereby
irrevocably submit to the jurisdiction of the courts of the State of Delaware and the Federal
courts of the United States of America located in the State of Delaware solely in respect of the
interpretation and enforcement of the provisions of this Agreement and of the documents referred to
in this Agreement, and in respect of the transactions contemplated hereby, and hereby waive, and
agree not to assert, as a defense in any action, suit or proceeding for the interpretation or
enforcement hereof or of any such document, that it is not subject thereto or that such action,
suit or proceeding may not be brought or is not maintainable in said courts or that the venue
thereof may not be appropriate or that this Agreement or any such document may not be enforced in
or by such courts, and the parties hereto irrevocably agree that all claims with respect to such
action or proceeding shall be heard and determined in such a Delaware State or Federal court. The
parties hereby consent to and grant any such court jurisdiction over the person of such parties
and, to the extent permitted by law, over the subject matter of such dispute and agree that mailing
of process or other papers in connection with any such action or proceeding in the manner provided
in Section 7(d) or in such other manner as may be permitted by law shall be valid and
sufficient service thereof.

     (b) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS
AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY
HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT,

-16-

 

OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES
THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER, (II) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER,
(III) EACH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO
THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION
7(A) AND SECTION 7(B).

     (c) This Agreement may be amended, and waivers or consents to departures from the provisions
hereof may be given, only by a written instrument duly executed, in the case of an amendment, by
the Company and the Holders of a majority of the Registrable Securities then outstanding, or in the
case of a waiver or consent, by the party against whom such waiver or consent is to be effective.
Each Holder of Registrable Securities outstanding at the time of any such amendment, waiver or
consent or thereafter shall be bound by any amendment, waiver or consent effected pursuant to this
Section 7(c), whether or not any notice, writing or marking indicating such amendment,
waiver or consent appears on the Registrable Securities or is delivered to such Holder. Waiver by
any party of any breach in accordance with this Section 7(c) or failure to comply with any
provision of this Agreement by another party shall not be construed as, or constitute, a continuing
wavier of such provisions, or a waiver of any other breach of or failure to comply with any other
provisions of this Agreement.

     (d) All notices, requests and other communications to any party hereunder shall be in writing
(including facsimile transmission) and shall be effective (a) when delivered, (b) when transmitted
via telecopy (or other facsimile device) to the number set out below if the sender on the same day
sends a confirming copy of such notice by a recognized overnight delivery service (charges
prepaid), (c) the day following the day on which the same has been delivered prepaid to a reputable
national overnight air courier service or (d) the third Business Day following the day on which the
same is sent by certified or registered mail or by overnight courier, postage prepaid, in each case
to the respective parties at the address set forth below, or at such other address as such party
may specify by written notice to the other party hereto:

			
	          	 	if to the Company, to:

Harris Stratex Networks, Inc.

Research Triangle Park

637 Davis Drive

Morrisville, NC 27560

Attn: General Counsel

fax: (919) 767-3233

-17-

 

			
	          	 	with a copy (which shall not constitute notice) to:

Bingham McCutchen LLP

1900 University Avenue

East Palo Alto, CA 94303

Attn: Bart Deamer

fax: (650) 849-4800

if to Harris, to:

Harris Corporation

1025 West NASA Blvd.

Melbourne, FL 32919

Attn: Scott T. Mikuen

fax: (321) 727-9222

with a copy (which shall not constitute notice) to:

Sullivan & Cromwell LLP

125 Broad Street

New York, New York 10004

Attn: Duncan C. McCurrach

fax: (212) 558-3588

or to such other Persons or addresses as may be designated in writing by the party to receive such
notice as provided above.

     (e) Any Holder of Registrable Securities shall be entitled to assign all or any part of its
rights hereunder to any person in connection with any transfer to such person of Registrable
Securities permitted by Law and the Investor Agreement and upon any such assignment and transfer
such person shall be entitled to receive the benefits so assigned, and shall be bound by the terms
and provisions of, this Agreement; provided, however, that no such assignment of rights hereunder
may be made if it would result in their being more than four Holders (treating any Holder and its
Affiliates collectively as one Holders). Except as provided in the preceding sentence, the rights
and obligations of the parties under this Agreement shall not be assignable or transferable and
there shall be no third party beneficiaries hereto. All the terms and provisions of this Agreement
shall be binding upon, shall inure to the benefit of, and shall be enforceable by, the legal
successors and permitted assigns of the parties hereto and any Holder.

     (f) This Agreement may be executed by the parties in any number of separate counterparts, each
of which when so executed shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement.

     (g) The headings in this Agreement are for convenience of reference only and shall not limit
or otherwise affect the meaning hereof.

     (h) In any action or proceeding related to or arising out of the enforcement of, or defense
against, any provision of this Agreement, the non-prevailing party in such action or proceeding
shall pay, and the prevailing party shall be entitled to, all reasonable out-of-pocket

-18-

 

costs and expenses (including reasonable attorneys’ fees) of the prevailing party incurred in
connection with such action or proceeding.

     (i) The provisions of this Agreement shall be deemed severable and the invalidity or
unenforceability of any provision shall not affect the validity or enforceability of the other
provisions hereof. If any provisions of this Agreement, or the application thereof to any Person
or entity or any circumstance, is invalid or unenforceable, (i) a suitable and equitable provision
shall be substituted therefor in order to carry out, so far as may be valid and enforceable the
intent of such provision and (ii) the remainder of this Agreement and the application of such
provision to other Persons, entities or circumstances shall not be affected by such invalidity or
unenforceability, nor shall such invalidity or unenforceability affect the validity or
enforceability of such provision, or the application thereof, in any other jurisdiction.

     (j) The respective indemnities, agreements, representations, warranties and other provisions
set forth in this Agreement or made pursuant hereto shall remain in full force and effect,
regardless of any investigation (or any statement as to the results thereof) made by or on behalf
of any Electing Holder, any director, officer or partner of such Electing Holder, any agent or
underwriter, any director, officer or partner of such agent or underwriter, or any controlling
person of any of the foregoing, and shall survive the transfer and registration of the Applicable
Securities of such Holder.

     (k) This Agreement has been negotiated by the parties and their respective counsel in good
faith and will be fairly interpreted in accordance with its terms and without any strict
construction in favor of or against any party. Time shall be of the essence of this Agreement.

     (l) Each party hereby acknowledges and agrees that because the obligations undertaken by them
hereunder are unique and the breach of any such obligations would cause irreparable harm and
significant injury that would be difficult to ascertain and would not be adequately compensable by
damages alone, each party will have the right to enforce such provisions by injunction, specific
performance or other equitable relief without prejudice to any other rights and remedies the
enforcing party may have.

     (m) Harris agrees that a majority of the Class A Directors (as defined in the Investor
Agreement) shall have the sole and exclusive right to direct the exercise and enforcement of all
rights of the Company hereunder.

-19-

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective authorized officers as of the day and year first above written.

	 	 	 	 	 
	 	HARRIS STRATEX NETWORKS, INC.

 	 
	 	By:  	/s/
Guy M. Campbell
 	 
	 	 	Name:  	Guy M. Campbell 	 
	 	 	Title:  	Chief Executive Officer and President 	 
	 
	 	HARRIS CORPORATION

 	 
	 	By:  	/s/
R. Kent Buchanan
 	 
	 	 	Name:  	R. Kent Buchanan 	 
	 	 	Title:  	Vice President, Corporate

Technology and Development 	 
	 

-20-EX-10.1 Investor Agreement

Table of Contents

EXHIBIT 10.1

 

 

INVESTOR AGREEMENT

Between

HARRIS CORPORATION

and

HARRIS STRATEX NETWORKS, INC.

Dated: January 26, 2007

 

 

E-1

Table of Contents

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	
    ARTICLE I
	
    Definitions and Construction
	 	1.1.	 	 	
    Certain Definitions	 	 	E-4	 
	 	1.2.	 	 	
    Additional Definitions	 	 	E-6	 
	 	1.3.	 	 	
    Terms Generally	 	 	E-6	 
	 
	
    ARTICLE II
	
    Scope of Agreement
	 	2.1.	 	 	
    Scope of Agreement	 	 	E-7	 
	 	2.2.	 	 	
    Governing Instruments and Class B Common Stock	 	 	E-7	 
	 
	
    ARTICLE III
	
    Boards of Directors
	 	3.1.	 	 	
    Role and Composition of the Board	 	 	E-7	 
	 	3.2.	 	 	
    Removal and Vacancies	 	 	E-8	 
	 	3.3.	 	 	
    Committees	 	 	E-9	 
	 	3.4.	 	 	
    Voting Requirements	 	 	E-9	 
	 	3.5.	 	 	
    Determination of Total Voting Power	 	 	E-9	 
	 
	
    ARTICLE IV
	
    Covenants
	 	4.1.	 	 	
    Standstill Provisions	 	 	E-9	 
	 	4.2.	 	 	
    Access to Information, Audit and Inspection	 	 	E-9	 
	 	4.3.	 	 	
    Related Party Transactions	 	 	E-10	 
	 	4.4.	 	 	
    Freedom of Action	 	 	E-10	 
	 	4.5.	 	 	
    Preemptive Right	 	 	E-11	 
	 	4.6.	 	 	
    Covenants Relating to Financial, Accounting and Disclosure
    Matters	 	 	E-12	 
	 	4.7.	 	 	
    Option Exercise	 	 	E-16	 

E-2

Table of Contents

	 	 	 	 	 	 	 	 	 
	 
	
    ARTICLE V
	
    Miscellaneous
	 	5.1.	 	 	
    Termination	 	 	E-16	 
	 	5.2.	 	 	
    Governing Law and Venue; Waiver Of Jury Trial	 	 	E-16	 
	 	5.3.	 	 	
    Severability	 	 	E-17	 
	 	5.4.	 	 	
    Amendment; Waiver	 	 	E-17	 
	 	5.5.	 	 	
    Assignment	 	 	E-17	 
	 	5.6.	 	 	
    No Third-Party Beneficiaries	 	 	E-18	 
	 	5.7.	 	 	
    Notices	 	 	E-18	 
	 	5.8.	 	 	
    Entire Agreement	 	 	E-19	 
	 	5.9.	 	 	
    No Challenges; Specific Performance	 	 	E-19	 
	 	5.10.	 	 	
    Headings	 	 	E-19	 
	 	5.11.	 	 	
    Counterparts	 	 	E-19	 
	 	5.12.	 	 	
    Relationship of Parties	 	 	E-19	 
	 	5.13.	 	 	
    Construction	 	 	E-19	 
	 	5.14.	 	 	
    Effectiveness	 	 	E-19	 
	 	5.15.	 	 	
    Enforcement by the Company	 	 	E-19	 
	 	Exhibit A—	 	 	
    Amended and Restated Certificate of Incorporation	 	 	A-1	 
	 	Exhibit B—	 	 	
    Amended and Restated Bylaws	 	 	B-1	 

E-3

Table of Contents

INVESTOR AGREEMENT

     
INVESTOR AGREEMENT
(the “Agreement”), dated as of
January 26, 2007, between HARRIS CORPORATION, a
Delaware corporation (“Harris”), and HARRIS
STRATEX NETWORKS, INC., a Delaware corporation (the
“Company”).

     
WHEREAS, Harris, the Company, and Stratex Networks, Inc., a Delaware
corporation (“Stratex”), and Stratex Merger Corp., a
Delaware Corporation and wholly owned subsidiary of the Company have
entered into an Amended and Restated
Formation, Contribution and Merger Agreement, dated as of
December 18, 2006 as amended by that certain letter agreement,
dated January 26, 2007 (the “Formation
Agreement”), among the parties thereto pursuant to which the Company was formed
to acquire Stratex pursuant to the Merger and to receive the
Contributed Assets from Harris in the Contribution Transaction,
in each case on the terms and subject to the conditions set
forth in the Formation Agreement; and

     
WHEREAS, Harris and Stratex would not have entered into the
Formation Agreement without the undertakings contained in this
Agreement and the execution and delivery of this Agreement is a
condition to closing under the Formation Agreement.

     
NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants in the Agreements the parties agree as follows:

ARTICLE I

Definitions and Construction

     
1.1.     Certain Definitions.
All capitalized terms used but not defined in this Agreement
shall have the meanings assigned to them in the Formation
Agreement. In addition, the following terms shall have the
meanings specified below:

     
“Affiliate” shall have the meaning assigned to
such term by Rule 405 under the Securities Act;
provided, however, that neither the Company nor any of
its Subsidiaries shall be deemed to be an Affiliate of Harris or
any of its other Subsidiaries.

     
“Agreements” means, collectively, the Formation
Agreement, the Ancillary Agreements attached thereto as exhibits
and any other agreements provided or contemplated by any of the
foregoing.

     
“Arm’s Length Terms” means, with respect
to any transaction, terms and conditions for such transaction
that are no less favorable in any material respect to the
Company and its Subsidiaries, taken as a whole, than those which
could have been obtained in an arm’s length negotiation
between informed and willing unrelated parties under no
compulsion to act taking into account all the facts and
circumstances then prevailing; provided, however, that
notwithstanding the foregoing any terms and conditions of a
transaction approved by a majority of the Class A Directors
shall be deemed to be Arm’s Length Terms.

     
“Audit Independent Director” means any Director
who satisfies the requirements of Rule 4350(d)(2)(A) of the
NASDAQ Rules with respect to the Company.

     
A Person shall be deemed the “beneficial owner”
of, and shall be deemed to “beneficially own”,
any securities which such Person or any of its Affiliates would
be deemed to “beneficially own” within the meaning of
Rule 13d-3 under
the Exchange Act if the references to “within
60 days” in
Rule 13d-3(d)(1)(i)
were omitted.

     
“Board” means the board of directors of the
Company.

     
“Business Day” means any day other than a
Saturday, a Sunday or a day on which banks in The City of New
York are authorized or obligated by Law or executive order to
close.

     
“Class A Common Stock” means the
Class A Common Stock, par value $0.01, of the Company.

     
“Class A Director” means any Director
other than a Class B Director.

     
“Class B Common Stock” means the
Class B Common Stock, par value $0.01, of the Company.

E-4

Table of Contents

     
“Class B Director” means any of the
Initial Harris Directors, any Director elected by a separate
class vote of the holders of the Class B Common Stock and
any Director appointed to replace or fill any vacancy created by
the removal, resignation, death or incapacity of any
Class B Director.

     
“Closing Date” means the date on which the
Closing occurred under the Formation Agreement.

     
“Common Stock” means, collectively, the Class A Common Stock and the Class B Common Stock.

     
“Director” means any director who is a member
of the Board.

     
“Exchange Act” shall mean the Securities
Exchange Act of 1934, as amended.

     
“Fair Market Value” means, with respect to any
transaction, the fair market value of the total consideration
paid or payable for goods or services pursuant to such
transaction.

     
“Governing Instruments” means, collectively,
the Amended and Restated Certificate of Incorporation and Amended and
Restated By-Laws of the Company
attached hereto as Exhibit A and
Exhibit B, respectively, as they may be amended from
time to time.

     
“Government Entity” means any domestic or
foreign governmental, regulatory or administrative authority,
agency, instrumentality, commission, body, court or other
entity, whether legislative, executive, judicial or otherwise,
and any arbitration panel, arbitrator or other entity with
authority to resolve any dispute.

     
“Initial Directors” means, collectively, the
Initial Harris Directors and Initial Stratex Directors.

     
“Initial Harris Directors” means Guy M. Campbell, Eric C.
Evans, Howard L. Lance, Dr. Mohsen Sohi and Dr. James C.
Stoffel.

     
“Initial Stratex Directors”
means William A. Hasler, Clifford H. Higgerson, Charles D. Kissner,
and Edward F. Thompson.

     
“Law” means any federal, state, local or
foreign law, statute, ordinance, rule, regulation, judgment,
order, injunction, decree, arbitration award, agency
requirement, license or permit of any Government Entity.

     
“Litigation” means any claim, suit, action,
arbitration, inquiry, investigation or other proceeding of any
nature (whether criminal, civil, legislative, administrative,
regulatory, prosecutorial or otherwise) by or before any
arbitrator or Government Entity.

     
“NASDAQ Rules” means the rules promulgated by
The Nasdaq Stock Market, Inc. which apply to issuers whose
common stock is listed on the Nasdaq Global Market

     
“Nominee” means, with respect to any Person,
any nominee, custodian or other Person who holds shares of
Common Stock for such Person without investment discretion.

     
“Person” means any individual, corporation
(including not-for-profit), general or limited partnership,
limited liability company, joint venture, estate, trust,
association, organization, Government Entity or other entity of
any kind or nature.

     
“Securities Act” shall mean the Securities Act
of 1933, as amended.

     
“Subsidiary” means, with respect to any Person,
(i) any corporation more than 50% of the outstanding Voting
Power of which is owned, directly or indirectly, by such Person,
any of its other Subsidiaries or any combination thereof or
(ii) any Person other than a corporation in which such
Person, any of its other Subsidiaries or any combination thereof
has, directly or indirectly, majority economic ownership or the
power to direct or cause the direction of the policies,
management and affairs thereof; provided, however, that
notwithstanding the foregoing neither the Company nor any of its
Subsidiaries shall be deemed to be a Subsidiary of Harris or any
of its other Subsidiaries for purposes of this Agreement.

     
“Transfer” means to sell, transfer or assign.

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“Total Voting Power” means, at any time, the
total number of votes then entitled to be cast generally in the
election of Class A Directors by all holders of Voting
Securities (including the holders of Class B Common Stock).

     
“Voting Securities” means, at any time, all
classes of capital stock or other securities of the Company then
outstanding and entitled to vote generally in the election of
the Class A Directors.

     
1.2.     Additional Definitions.
The following terms are defined in the Sections indicated:

	 	 	 
	Defined Term:	 	Section:
	 	 	 
	
    
    “Additional Voting Rights”

    	 	
    2.2
	
    
    “Affiliate Transaction”

    	 	
    4.3
	
    
    “Agreement”

    	 	
    Introductory Paragraph
	
    
    “Annual Financial Statements”

    	 	
    4.6(j)
	
    
    “Company”

    	 	
    Introductory Paragraph
	
    
    “Company Auditors”

    	 	
    4.6(j)
	
    
    “Corporate Opportunity”

    	 	
    4.4(c)
	
    
    “Delaware Courts”

    	 	
    5.2(a)
	
    
    “Filing Party”

    	 	
    4.6(e)
	
    
    “Formation Agreement”

    	 	
    Recitals
	
    
    “GAAP”

    	 	
    4.6(a)
	
    
    “Harris”

    	 	
    Introductory Paragraph
	
    
    “Harris Annual Statements”

    	 	
    4.6(j)
	
    
    “Harris Auditors”

    	 	
    4.6(j)
	
    
    “Harris Entities”

    	 	
    4.4(c)
	
    
    “Harris Public Filings”

    	 	
    4.6(g)
	
    
    “Monthly Exercise Notice”

    	 	
    4.5(b)
	
    
    “Monthly Offer Notice”

    	 	
    4.5(b)
	
    
    “Nominating Committee”

    	 	
    3.1(b)
	
    
    “Non-Competition Agreement”

    	 	
    4.4(b)
	
    
    “Offered Securities”

    	 	
    4.5(a)
	
    
    “Offer Notice”

    	 	
    4.5(a)
	
    
    “Proposed Issuance”

    	 	
    4.5(a)
	
    
    “Stratex”

    	 	
    Recitals
	
    
    “Tax Return”

    	 	
    4.2(b)
	
    
    “Voting Percentage”

    	 	
    3.1(c)

     
1.3.     Terms Generally. The
definitions set forth or referred to above shall apply equally
to both the singular and plural forms of the terms defined.
Whenever the context may require, any pronoun shall include the
corresponding masculine, feminine and neuter forms. The words
“include”, “includes” and
“including” shall be deemed to be followed by the
phrase “without limitation”. All references herein to
Articles, Sections, Exhibits and Schedules shall be deemed to be
references to Articles and Sections of, and Exhibits and
Schedules to, this Agreement unless the context shall otherwise
require. Unless the context shall otherwise require, any
reference to any contract, instrument, statute, rule or
regulation is a reference to it as amended and supplemented from
time to time (and, in the case of a statute, rule or regulation,
to any successor provision). Any reference in this Agreement to
a “day” or a number of “days” (without the
explicit qualification of “Business”) shall be
interpreted as a reference to a calendar day or number of
calendar days.

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ARTICLE II

Scope of Agreement

     
2.1.     Scope of Agreement.
Harris and the Company desire to set forth in this Agreement
certain terms and conditions upon which Harris will hold its
equity interests in the Company, including but not limited its
rights as a holder of Class B Common Stock. Solely with
respect to Harris’ rights as a holder of Class B
Common Stock, if there is any inconsistency between the terms of
this Agreement and the Governing Instruments as a result of any
amendment of this Agreement or otherwise, the parties agree to
take promptly all necessary action to amend the Governing
Instruments to eliminate such inconsistency to the fullest
extent permitted by Law.

     
2.2.     Governing Instruments and
Class B Common Stock. On or prior to the execution and
delivery of this Agreement, Harris and Stratex have caused the
Company to be incorporated under the laws of the State of
Delaware with Governing Instruments in the form attached hereto
as Exhibit A and Exhibit B. As of the
date of this Agreement, Harris owns, directly or indirectly
through its Affiliates, all the outstanding Class B Common
Stock and the shareholders of Stratex immediately prior to the
Effective Time own all the outstanding Class A Common
Stock. Pursuant to the Governing Instruments, the rights and
privileges of the Class A Common Stock and the Class B
Common Stock are identical in all respects except that the
holders of the Class B Common Stock have the additional
right to vote separately as a class to elect, remove and replace
the Class B Directors (the “Additional Voting
Rights”), the right to receive Class B Common
Stock instead of Class A Common Stock in certain
circumstances, the absence of certain duties and obligations
with respect to Corporate Opportunities (as defined in the
Governing Instruments) and preemptive rights consistent with
those granted in Section 4.5 hereof. The holders of
Class B Common Stock also have the right at any time to
exchange (a) any outstanding shares of Class A Common
Stock held by such holder for an equal number of shares of
Class B Common Stock or (b) any outstanding shares of
Class B Common Stock for an equal number of shares of
Class A Common Stock, in each case as provided in the
Governing Instruments. Each outstanding share of Class B
Common Stock shall convert into one outstanding share of
Class A Common Stock automatically and without any further
action by the Company or any other Person if: (i) the
holders of all of the outstanding shares of Class B Common
Stock (assuming that all the outstanding shares of Class A
Common Stock which are then exchangeable for Class B Common
Stock have been so exchanged) are collectively entitled to cast
less than 10% of the Total Voting Power or (ii) such
Class B Common Stock is transferred by a holder to any
Person who is not an Affiliate of such holder or a Nominee of
such holder or one of its Affiliates; provided, however,
that notwithstanding the foregoing no such conversion shall
occur if such transfer is part of a transfer by such holder and
its Affiliates of all of the shares of Class B Common Stock
then owned by them (either directly or through a Nominee (as
defined below)) to any other Person or to any other Person and
its Affiliates. As of the date of this Agreement, the
Class B Common Stock represents 56% of the outstanding
Common Stock determined on a fully diluted basis using the
treasury stock method assuming a market price per share of
Class A Common Stock equal to $20.80.

ARTICLE III

Boards of Directors

     
3.1.     Role and Composition of the
Board. (a) As of the date of this Agreement, the Board
is comprised of nine directors of which the Initial Harris
Directors are the five Class B Directors and the Initial
Stratex Directors are the four Class A Directors. Of the
Initial Harris
Directors, Eric C. Evans is
an Audit Independent
Director, James C. Stoffel is
not an employee of Harris or any of its Subsidiaries
and Guy M. Campbell is
the chief executive officer of the Company, in each case as of
the date of this Agreement. Of the Initial Stratex
Directors, William A. Hasler and Edward F. Thompson are
Audit Independent Directors
and Charles D. Kissner is
the Chairman of the Board, in each case as of the date of this
Agreement. All Directors shall be elected at each annual meeting
of the Company’s shareholders and the Initial Directors
shall serve until their successors are elected at the first such
annual meeting. Until the second anniversary of the date of this

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Agreement, one of the Class B Directors must be an Audit
Independent Director and one of the other Class B Directors
must not be an employee of Harris or any of its Subsidiaries.

     
(b) At all times when the holders of all the outstanding
shares of Class B Common Stock (assuming that all the
outstanding shares of Class A Common Stock which are then
exchangeable for Class B Common Stock have been so
exchanged) are collectively entitled to cast a majority of the
Total Voting Power, (i) the Company will rely on the
Controlled Company exemption contained in Rule 4350(c)(5)
of the NASDAQ Rules, (ii) the Board will be comprised of
nine Directors, (iii) the holders of Class B Common
Stock shall be entitled to elect five of the Directors pursuant
to the Additional Voting Rights and the quorum for action by the
Board shall be a majority of the Board, which majority shall
include at least four Class B Directors and (iv) the
remaining four Directors will be Class A Directors
nominated by a nominating committee consisting solely of the
Class A Directors then in office (the “Nominating
Committee”), and elected by the holders of the Common
Stock, voting together as a single class; provided,
however, that at all times when Rule 4350(d)(2)(A) of
the NASDAQ Rules applies to the Company a sufficient number of
the Class A Directors must satisfy the requirements of that
Rule with respect to the Company so that, together with any
Class B Directors which are required or otherwise satisfy
such requirements with respect to the Company, there are enough
Directors to constitute an audit committee of the Board which
complies with the requirements of Rule 4350(d) of the
NASDAQ Rules. Harris agrees to vote, or caused to be voted, all
Voting Securities owned by it, its Affiliates and their
respective Nominees in favor of the election of the Class A
Directors nominated by the Nominating Committee pursuant to this
Section 3.1(b).

     
(c) At all times when the holders of all of the outstanding
shares of Class B Common Stock (assuming that all the
outstanding shares of Class A Common Stock which are then
exchangeable for Class B Common Stock have been so
exchanged) are collectively entitled to cast a percentage of the
Total Voting Power (the “Voting Percentage”)
which is less than a majority but equal to or greater than 10%
of the Total Voting Power (i) the Class B Common Stock
shall be entitled to elect pursuant to the Additional Voting
Rights a number of Class B Directors which represents the
Voting Percentage of the total number of Directors then
comprising the entire Board (rounded down to the next whole
number of Directors), and (ii) the remaining Directors will
be Class A Directors nominated by the Nominating Committee
(the composition of which shall comply with the requirements of
Rule 4350(c)(4) of the NASDAQ Rules) and elected by the
holders of the Common Stock, voting together as a single class;
provided, however, that at all times when such rules
apply to the Company a sufficient number of the Class A
Directors must (A) qualify as an Independent Director with
respect to the Company as such term is defined in
Rule 4200(15) of the NASDAQ Rules so that Board complies
with Rule 4350(c)(1) of the NASD Rules and (B) satisfy
the requirements of Rule 4350(d)(2)(A) of the NASDAQ Rules
with respect to the Company so that, together with any
Class B Directors which are required to or otherwise
satisfy such requirements with respect to the Company, there are
enough Directors to constitute an audit committee which complies
with the requirements of Rule 4350(d) of the NASDAQ Rules.
The Nominating Committee will nominate individuals for election
as Class A Directors who comply with the foregoing
requirements and Harris agrees to vote, or cause to be voted,
all Voting Securities owned by it, its Affiliates and their
respective Nominees in favor of the election of such nominees.

     
3.2.     Removal and Vacancies.
(a) Without limiting Harris’ obligations under
Section 3.1(a), the holders of the Class B Common
Stock, voting separately as a class, shall have the sole right
to remove the Class B Directors with or without cause at
any time and for any reason and the sole right to elect
successor Directors to fill any vacancies on the Board caused by
any such removals. Any vacancy created by any resignation, death
or incapacity of any Class B Director shall be filled by
the remaining Class B Directors then in office or, if there
are none, by the holders of the Class B Common Stock,
voting separately as a class.

     
(b) The holders of the Class A Common Stock, voting
separately as a class, shall have the sole right to remove the
Class A Directors without cause and the sole right to
appoint successor Directors to fill any vacancies on the Board
caused by any such removals. Any vacancy created by the
resignation, death or incapacity of any Class A Director
shall be filled by the remaining Class A Directors then in
office or, if

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there are none, by the holders of the Class A Common Stock,
voting separately as a class. Harris agrees that none of the
shares of Class A Common Stock owned by it, any of its
Affiliates or any of their respective Nominees will be voted for
the removal of any Class A Director without cause and all
such shares will be voted for the election of the individual
nominated by the Nominating Committee to replace any
Class A Director who has been removed with or without cause.

     
(c) The holders of the Common Stock, voting together as a
single class, shall have the sole right to remove the
Class A Directors for cause and the sole right to elect
successor Directors to fill any vacancies on the Board caused by
any such removals.

     
3.3.     Committees. At all
times, the audit, nominating and compensation committees of the
Board shall comply with the applicable requirements of
Rule 4350 of the NASDAQ Rules (after taking advantage of
all available exemptions for Controlled Companies under such
Rules).

     
3.4.     Voting Requirements.
All actions of the Board must be approved by a majority of a
quorum.

     
3.5.     Determination of Total
Voting Power. Notwithstanding anything in this Agreement to
the contrary, if any transaction or transactions occur which
entitle the holders of Class B Common Stock to preemptive
rights under Section 4.5, then no determination of the
percentage of the Total Voting Power collectively entitled to be
cast by the holders of all the outstanding shares of
Class B Common Stock (assuming that all the outstanding
shares of Class A Common Stock which are then exchangeable
for Class B Common Stock have been so exchanged) shall be
made for any purpose under this Agreement until after the
exercise or expiration of all such preemptive rights in respect
of all such transactions by such holders.

ARTICLE IV

Covenants

     
4.1.     Standstill Provisions.
For a period of two years from the Closing Date, Harris may not
acquire or dispose of beneficial ownership of any Voting
Securities of the Company through open-market transactions,
third party purchases, business combinations or otherwise except
(i) pursuant to Section 4.5, (ii) as a result of
any actions taken by the Company that do not increase or
decrease the percentage of Voting Power which Harris and its
Affiliates are entitled to cast in respect of all Voting
Securities beneficially owned by Harris or (iii) with the
prior approval of a majority of the Class A Directors. From
the second to the fourth anniversary of the Closing Date, Harris
may not beneficially own Voting Securities which entitle Harris
and its Affiliates to cast more than 80% of the Voting Power
without the prior approval of a majority of the Class A
Directors. From the second until the fourth anniversary of the
Closing Date, Harris may not Transfer Voting Securities entitled
to cast a majority of the Voting Power in a single transaction
or series of related transactions if a single Person would
acquire beneficial ownership of all of such Voting Securities or
a portion of such Voting Securities that would entitle such
Person to cast a majority of the Total Voting Power unless
(i) such Transfer is approved in advance by a majority of
the Class A Directors or (ii) such Person offers to
acquire all the Voting Securities then owned by each other
holder of Voting Securities at the same price and on the same
terms and conditions as apply to the Transfer from Harris.
Notwithstanding the foregoing, nothing in this Section 4.1
shall prohibit or restrict any pro rata dividend or other pro
rata distributions of Voting Securities to Harris’
shareholders or any bona fide sale to the public of Voting
Securities pursuant to Rule 144 under the Securities Act or
a bona fide registered public offering. For all purposes of this
Agreement, Harris shall be deemed to beneficially own all Voting
Securities beneficially owned by any of its Affiliates.

     
4.2.     Access to Information,
Audit and Inspection. As long as Harris continues to
beneficially own Voting Securities that entitle it to cast at
least 20% of the Total Voting Power:

     
(a) Harris and its Representatives shall have (and the
Company shall cause its Subsidiaries to provide Harris and its
Representatives with) full access at reasonable times and during
normal business hours to all the books and records of the
Company and its Subsidiaries and their respective businesses
(including those books and records pertaining to periods prior
to the Closing Date), including the right to

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examine and audit any of such books and records and to make
copies and extracts therefrom. Harris shall bear all expenses
incurred by it or its Representatives in making any such
examination or audit and will reimburse the Company for all
reasonable
out-of-pocket expenses
incurred by it or its Subsidiaries in connection therewith. The
Company shall, and shall cause each of its Subsidiaries to, make
arrangements for Harris and its Representatives to have prompt
access at reasonable times and during normal business hours to
its officers, directors and employees to discuss the business
and affairs of the Company and its Subsidiaries and the books
and records pertaining thereto. The provisions of this
Section 4.2(a) shall continue to apply to the Company and
its Subsidiaries and be enforceable by Harris after Harris
ceases to beneficially own any Voting Securities of the Company
or Voting Securities of the Company that entitle it to cast at
least 20% of the Voting Power, but only to the extent, in each
case, that such books and records and such access to officers,
directors and other employees are reasonably requested by Harris
in connection with any pending or threatened Litigation,
proceeding or investigation involving Harris or any of its
Affiliates insofar as such matter relates to the business or
affairs of the Company or such Subsidiary (including any matters
relating to the business and affairs of any predecessor
businesses, including relating to periods prior to the Closing
Date).

     
(b) The Company shall provide Harris with copies of each
completed tax return required to be filed by the Company or any
of its Subsidiaries by applicable Law (each, a “Tax
Return”) at least 20 Business Days prior to the due
date (including any extensions of such due date) of the filing
of such Tax Return, and Harris may review such Tax Return prior
to its filing with the appropriate Government Entity. The
Company shall consult with Harris and negotiate in good faith to
resolve any issues arising as a result of the Harris’
review of such Tax Return. Harris, the Company and its
Subsidiaries shall use all reasonable good faith efforts to
resolve any issue in dispute as promptly as possible, but in any
event prior to the due date for the filing of such Tax Return.
In the event an issue resulting from the review by Harris of
such Tax Return remains in dispute as of the due date for the
filing of such Tax Return, the Tax Return shall be filed with
the appropriate Government Entity in accordance with the
recommendation of the Company’s external tax advisors.

     
4.3.     Related Party
Transactions. Harris will not, and will not permit any of
its Affiliates to, directly or indirectly, enter into any
transaction or series of related transactions (including any
Transfer of any assets or the provision of any goods or
services) with the Company or any of its Subsidiaries (each, an
“Affiliate Transaction”) unless (i) such
Affiliate Transaction is on Arm’s Length Terms and
(ii) if the Affiliate Transaction has a Fair Market Value
of more than $5 million, such Affiliate Transaction shall
have been approved in advance by a majority of the Class A
Directors. The foregoing shall not apply to:

		
	 	     
    (i) any issuance of securities to, or other payments,
    awards or grants of in cash, securities or otherwise pursuant
    to, or the funding of, employment arrangements, employee
    benefits, stock options and stock ownership plans approved by
    the Board,
	 
	 	     
    (ii) the payment of reasonable and customary fees to
    Directors who are not employees of the Company or any of its
    Subsidiaries,
	 
	 	     
    (iii) indemnification or insurance arrangements covering
    directors and officers of the Company and its
    Subsidiaries, and
	 
	 	     
    (iv) any payments or other transactions pursuant to any
    tax-sharing agreement between the Company and any other Person
    with which the Company files a consolidated tax return or with
    which the Company is part of a consolidated group for tax
    purposes.

     
4.4.     Freedom of Action.
(a) Nothing in this Section 4.4 will impair the
Company’s ability to enter into contractual arrangements
with a shareholder of the Company which restrict the shareholder
from engaging in activities otherwise allowed by this Section
and the following provisions shall be subject to the terms of
any such contractual arrangements.

     
(b) Except as expressly provided in the Non-Competition
Agreement, dated as of the date hereof, among the Company,
Harris and Stratex (the “Non-Competition
Agreement”) or the proviso at the end of
Section 4.4(c), Harris and its Affiliates shall have the
right to, and none of them shall have any

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fiduciary duty or other obligation to the Company, any of its
Subsidiaries or any of their shareholders not to, take any of
the following actions:

		
	 	     
    (i) engage in the same or similar activities or lines of
    business as the Company or any Subsidiary or develop or market
    any products or services that compete, directly or indirectly,
    with those of the Company or any of its Subsidiaries;
	 
	 	     
    (ii) invest or own any interest in, or develop a business
    relationship with, any Person engaged in the same or similar
    activities or lines of business as, or otherwise in competition
    with, the Company or any of its Subsidiaries;
	 
	 	     
    (iii) do business with any client or customer of the
    Company or any of its Subsidiaries; or
	 
	 	     
    (iv) employ or otherwise engage any former officer or
    employee of the Company or any of its Subsidiaries.

     
(c) Neither Harris nor any of its Affiliates nor any
officer, director, employee or former employee of Harris or any
of its Affiliates that is not currently an employee of the
Company or any of its Subsidiaries (including any Class B
Directors) shall have any obligation, or be liable, to the
Company, any of its Subsidiaries or any of their shareholders
for or arising out of the conduct described in
Section 4.4(b) or the exercise of Harris’ rights under
any of the Agreements and none of them shall be deemed to have
acted (i) in bad faith, (ii) in a manner inconsistent
with the best interests of the Company, any of its Subsidiaries
or any of their shareholders or (iii) in a manner
inconsistent with, or opposed to, any fiduciary duty owed by
them to the Company, any of its Subsidiaries or any of their
shareholders by reason of any such conduct or exercise of such
rights or any of their participation therein. If Harris or any
of its Subsidiaries or any of their directors, officers or
employees, including any such individuals who are also
directors, officers or employees of the Company or any of its
Subsidiaries, (collectively, the “Harris
Entities”) acquires knowledge of a potential
opportunity, transaction or matter which may be a corporate
opportunity for both Harris or any of its Subsidiaries, on the
one hand, and the Company or any of its Subsidiaries, on the
other hand, (each, a “Corporate Opportunity”),
then each of the Harris Entities shall have the right to, and
none of them shall have any fiduciary duty or other obligation
not to, pursue such Corporate Opportunity for itself or to
direct such Corporate Opportunity to any of its Affiliates or to
any third party and none of the Harris Entities (i) shall
have any duty to communicate, offer or present such Corporate
Opportunity to the Company or any of its Subsidiaries,
directors, officers or employees, (ii) shall have any
liability to the Company, any of its Subsidiaries or any of
their shareholders for breach of any fiduciary duty or other
duty, as a shareholder, director, officer or employee of the
Company or any of its Subsidiaries or otherwise,
(iii) shall be deemed to have acted (x) in bad faith,
(y) in a manner inconsistent with the best interests of the
Company, any of its Subsidiaries or any of their shareholders or
(z) in a manner inconsistent with, or opposed to, any
fiduciary duty owed by them to the Company, any of its
Subsidiaries or any of their shareholders, in each case by
reason of the fact that any Harris Entity pursues or acquires
such Corporate Opportunity for itself, directs such Corporate
Opportunity to any of its Affiliates or any third party, or does
not communicate information regarding such Corporate Opportunity
to the Company or any of its Subsidiaries, directors, officers
or employees; provided, however, that notwithstanding
anything in this Section 4.4 to the contrary a Corporate
Opportunity offered to a person who is a director or officer of
both the Company and Harris shall belong to the Company if such
Corporate Opportunity is expressly offered to such person in
writing solely in his or her capacity as a director or officer
of the Company.

     
(d) The provisions of this Section 4.4 shall be
effective to the maximum extent permitted by Law and are not
intended to be enforceable to any further extent.

     
4.5.     Preemptive Right.
(a) If the Company proposes to issue
(a “Proposed Issuance”) any capital stock
of the Company or any securities convertible into, or
exercisable or exchangeable for, such capital stock
(collectively, the “Offered Securities”) at any
time when the holders of all the outstanding shares of
Class B Common Stock (assuming that all the outstanding
shares of Class A Common Stock which are then exchangeable
for Class B Common Stock have been so exchanged) are
collectively entitled to cast a

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majority of the Total Voting Power, the Company shall give
written notice of the Proposed Issuance to the holders of
Class B Common Stock (the “Offer Notice”)
at least 30 days prior to such issuance. Such notice shall
describe all the material terms and conditions of such Proposed
Issuance. Each holder of Class B Common Stock shall have
the right to acquire at the same price and on the same terms and
conditions, an additional amount of the Offered Securities so
that the percentage of the outstanding Common Stock and Total
Voting Power then owned by such holder shall not change as a
result of such acquisition and Proposed Issuance; provided,
however, that notwithstanding the foregoing (i) such holder
may elect to acquire a lesser number of additional Offered
Securities as it may determine in its sole discretion and
(ii) if the Offered Securities are, or are convertible into
or exercisable or exchangeable for, Class A Common Stock,
then in lieu thereof such holder shall be entitled to purchase
Class B Common Stock or Offered Securities convertible into
or exercisable or exchangeable for Class B Common Stock, as
applicable. If any holder of Class B Common Stock fails to
accept such offer by written notice received by the Company
within fifteen (15) days following the date on which such
holder received the Offer Notice, the Proposed Issuance may be
consummated free and clear of the preemptive right granted to
the holders of Class B Common Stock under this
Section 4.5. Notwithstanding the foregoing, if the purchase
price for any Proposed Issuance is to be paid in whole or in
part other than in cash, then the holders of Class B Common
Stock may pay the purchase price in cash in an amount per
Offered Security equal to the fair market value of the aggregate
non-cash consideration so payable, as reasonably determined in
good faith by the Board, divided by the total number of Offered
Securities to be issued without giving effect to the preemptive
right granted by this Section 4.5.

     
(b) Notwithstanding the foregoing, the preemptive right
granted by this Section 4.5 shall not apply to any Proposed
Issuance pursuant to any stock option, restricted stock or
employee benefit plan of the Company; provided, however,
at the end of each month the Company shall give the holders of
Class B Common Stock written notice of all such Proposed
Issuances during such month (the “Monthly Offer
Notice”) and each holder of Class B Common Stock
shall have the right, exercisable by delivering written notice
to the Company (each, a “Monthly Exercise
Notice”) within fifteen days after the date on which
such holder received the Monthly Offer Notice, to purchase for
cash a sufficient number of shares of Class B Common Stock
so that the percentage of the outstanding Common Stock and Total
Voting Power then owned by such holder shall not change as a
result of such acquisition and Proposed Issuances; provided,
however, that such holder may elect to acquire a lesser
number of such shares of Class B Common Stock as it may
determine it its sole discretion. The per share purchase price
for any purchase of Class B Common Stock pursuant to a
Monthly Exercise Notice shall be (i) if the Class A
Common Stock is then listed on a national securities exchange or
quoted on an automated inter-dealer quotation system, the
closing price of the Class A Common Stock on the trading
day immediately preceding the date on which the Company received
the Monthly Exercise Notice or (ii) in all other cases, the
fair market value of one share of Class A Common Stock as
determined in good faith by the Board.

     
4.6.     Covenants Relating to
Financial, Accounting and Disclosure Matters. (a) The
Company agrees to comply with the requirements of all of the
following paragraphs of this Section 4.6 other than
paragraph (m) at all times when Harris is required by
U.S. generally accepted accounting principles
(“GAAP”) to consolidate the Company or any of
its Subsidiaries. The Company agrees to comply with the
requirements of paragraphs (d), (e), (f), (j), (m) and
(n) of this Section 4.6 at all time when Harris is
required by GAAP to account for its investment in the Company or
any of its Subsidiaries under the equity method of accounting.

     
(b) Disclosure and Internal Controls. The Company
will (and will cause each of its Subsidiaries to) maintain
effective disclosure controls and procedures and internal
control over financial reporting as defined in
Rule 13a-15 under
the Exchange Act or any similar or successor rule applicable to
Harris. The Company shall cause each of its principal executive
and principal financial officers to (i) sign and deliver
certifications to its periodic reports and shall include the
certifications in its periodic reports, as and when required
pursuant to Exchange Act
Rule 13a-14 and
Item 601 of
Regulation S-K or
any similar or successor rule applicable to Harris and
(ii) sign and deliver to Harris such certification and
representation documents, and to participate in discussions of
related matters, with respect to Harris’ periodic reports

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under the Exchange Act as Harris may reasonably request. The
Company shall cause its management to evaluate its disclosure
controls and procedures and internal control over financial
reporting (including any change in internal control over
financial reporting) as and when required pursuant to Exchange
Act Rule 13a-15 or
any similar or successor rule applicable to Harris. The Company
shall disclose in its periodic reports filed with the SEC
information concerning its management’s responsibilities
for and evaluation of its disclosure controls and procedures and
internal control over financial reporting (including the annual
management report and attestation report of its independent
auditors relating to internal control over financial reporting)
as and when required under Items 307 and 308 of
Regulation S-K and
other applicable SEC rules. Without limiting the general
application of the foregoing, the Company shall (and shall cause
each of its Subsidiaries to) maintain internal systems and
procedures which provide reasonable assurance that (i) its
financial statements are reliable and timely prepared in
accordance with GAAP and applicable Law, (ii) all
transactions of the Company and its Subsidiaries are recorded as
necessary to permit the preparation of their respective
financial statements, (iii) the receipts and expenditures
of the Company and its Subsidiaries are authorized at the
appropriate internal level, and (iv) unauthorized use or
disposition of the assets of any the Company or any of its
Subsidiaries that could have material effect on their financial
statements is prevented or detected in a timely manner. The
Company shall report in reasonable detail to Harris any of the
following events or circumstances promptly after any executive
officer of the Company or any Director becomes aware of such
matter: (i) any significant deficiency or material weakness
in the design or operation of internal control over financial
reporting that is reasonably likely to adversely affect the
Company’s or any of its Subsidiaries ability to record,
process, summarize and report financial information,
(ii) any fraud, whether or not material, that involves
management or other employees who have a significant role in the
internal control over financial reporting of the Company and its
Subsidiaries, (iii) any illegal act within the meaning of
Section 10A(b) and (f) of the Exchange Act, and
(iv) any report of a material violation of Law that an
attorney representing the Company or any of its Subsidiaries has
formally made to any officers or directors of the Company
pursuant to the SEC’s attorney conduct rules
(17 C.F.R. Part 205).

     
(c)     Fiscal Year, Fiscal Quarter
and Fiscal Monthly Accounting Periods. The Company shall
(and shall cause each of its Subsidiaries to) maintain the same
fiscal year, fiscal quarter and fiscal monthly accounting
periods as Harris as they may change from time to time.

     
(d)     Quarterly and Annual
Information. The Company shall cooperate with Harris and use
its commercially reasonable efforts to deliver to Harris
consolidated quarterly and annual financial statements of the
Company by such dates as Harris shall reasonably determine in
order to give Harris reasonable time to review and include such
information in its Quarterly Report on
Form 10-Q or
Annual Report on
Form 10-K, as
applicable. The Company hereby acknowledges that Harris’
internal policies and procedures will impose certain
requirements on its divisions and subsidiaries with respect to
the type and format of financial information provided to
Harris’ management at the end of each fiscal quarter and
fiscal year end and that Harris currently requires such
information to be so provided no later than the eighth (8th)
Business Day following the end of each fiscal quarter and fiscal
year end. The Company acknowledges that Harris is a Large
Accelerated Filer (as such term is defined in
Rule 12b-2 under
the Exchange Act) and is required to file its Quarterly Reports
on Form 10-Q and
Annual Reports on
Form 10-K with the
SEC on an accelerated basis and must make file such reports with
the SEC before the Company is currently required to file its
Quarterly Reports on
Form 10-Q or
Annual Reports on
Form 10-K or may
be required to file such reports in the future. Senior employees
of the Company and Harris with responsibility for preparation
and review of SEC filings will actively consult with each other
regarding the details of the Quarterly Reports on
Form 10-Q and
Annual Reports on
Form 10-K to be
filed by the Company and in particular review any changes
(whether or not substantive) that the Company is considering or
plans to make to the most recent draft provided to Harris before
such documents are filed with the SEC.

     
(e)     Other SEC Filings. Each
of the Company and each of its Subsidiaries which files any
information with the SEC (each, a “Filing
Party”) shall promptly deliver to Harris: preliminary
and substantially final drafts, as soon as the same are
prepared, of (i) all reports, notices and proxy and
information statements to be sent or made available by such
Filing Party to its security holders, (ii) all

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regular, periodic and other reports (other than those on
Form 10-K or
Form 10-Q) to be
filed or furnished by such Filing Party under Sections 13,
14 and 15 of the Exchange Act, and (iii) all registration
statements and prospectuses to be filed by such Filing Party
with the SEC or any securities exchange pursuant to the listed
company manual (or similar requirements) of such exchange.
Thereafter, senior employees of the Company and Harris with
responsibility for preparation and review of SEC filings will
actively consult with each other regarding any changes (whether
or not substantive) that the Company may consider making to such
documents before they are filed with, or furnished to, the SEC.

     
(f)     Earnings Releases and
Financial Guidance. Senior employees from the Company and
Harris with responsibility for such matters shall consult with
each other as to the timing of their annual and quarterly
earnings releases and any interim financial guidance for a
current or future period and the Company shall give Harris the
opportunity to review and comment on the information contained
in such releases or guidance. The Company shall make reasonable
efforts to issue its respective annual and quarterly earnings
releases at approximately the same time on the same date as
Harris. No later than eight hours prior to the time and date
(or, if the same will be published before noon, no later than
5 p.m. Melbourne, Florida time on the previous Business
Day) on which the Company intends to publish its regular annual
or quarterly earnings release, any financial guidance for a
current or future period or any other matters that could be
reasonably likely to have a material financial impact on the
earnings, results of operations, financial condition or
prospects of the Company and its Subsidiaries, taken as a whole,
the Company shall use commercially reasonable efforts to deliver
to Harris copies of substantially final drafts of all press
releases and other statements relating thereto which will be
made available by the Company or any of its Subsidiaries to
employees or public and senior employees with responsibility for
such maters shall consult regarding any changes (other than
typographical or other similar minor changes) to such
substantially final drafts. Immediately following the issuance
thereof, the Company shall deliver to Harris copies of final
versions of all such press releases and other public statements.

     
(g)     Harris Public Filings.
The Company shall use its commercially reasonable efforts to
cooperate and to cause its auditors to cooperate with Harris to
the extent reasonably requested by Harris in the preparation of
Harris public earnings or other press releases, Quarterly
Reports on
Form 10-Q, Annual
Reports to Shareholders, Annual Reports on
Form 10-K, Current
Reports on
Form 8-K and any
other proxy, information and registration statements, reports,
notices, prospectuses and any other filings made by Harris with
the SEC or any national securities exchange or otherwise made
publicly available by or on behalf of Harris (collectively, the
“Harris Public Filings”) and Harris shall
reimburse the Company for all reasonable
out-of-pocket expenses
incurred by the Company or any of its Subsidiaries in connection
therewith. The Company shall use commercially reasonable efforts
to provide to Harris all information Harris reasonably requests
in connection with any Harris Public Filings or that, in the
reasonable judgment of legal advisors to Harris, is required to
be disclosed or incorporated by reference therein under
applicable Law. The Company shall provide such information in a
timely manner on the dates requested by Harris (which may be
earlier than the dates on which the Company otherwise would be
required hereunder to have such information available) to enable
Harris to prepare, print and release all Harris Public Filings
on such dates as Harris shall reasonably determine but in no
event later than as required by applicable Law. The Company
shall use its commercially reasonable efforts to cause the
Company Auditors to consent to any reference to them as experts
in any Harris Public Filings if required under applicable Law.
If and to the extent requested by Harris, the Company shall
diligently and promptly review all drafts of such Harris Public
Filings and prepare in a diligent and timely fashion any portion
of such Harris Public Filing pertaining to the Company. Prior to
any printing or public release of any Harris Public Filing, an
appropriate executive officer of the Company shall, if requested
by Harris, certify that the information relating to the Company,
any of its Subsidiaries or any of their businesses in such
Harris Public Filing is accurate, true, complete and correct in
all material respects. Unless required by Law, the Company shall
not publicly release any financial or other information that
conflicts with the information with respect to the Company, any
of its Subsidiaries or any of their respective businesses that
is included in any Harris Public Filing without Harris’
prior written consent. Prior to the release or filing thereof,
Harris shall provide the Company with a draft of any portion of
a Harris Public Filing containing information relating

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to the Company, any of its Subsidiaries or any of their
businesses and shall give the Company an opportunity to review
such information and comment thereon.

     
(h)     Company Disclosures.
Nothing in Section 4.6(d), Section 4.6(e),
Section 4.6(f) or Section 4.6(n) shall prevent or
otherwise limit the ability of the Company to make any
disclosure which the Company reasonably believes is necessary to
comply with applicable Law, including any changes to drafts
previously furnished to Harris. Nothing in Section 4.6(d),
Section 4.6(e), Section 4.6(f) or Section 4.6(n)
shall prevent or otherwise limit the ability of Harris to make
any disclosure which Harris reasonably believes is necessary to
comply with applicable Law, including any changes to drafts
previously furnished to the Company.

     
(i)     Consistency of Accounting
Principles, Policies and Practices. All information to be
provided to Harris by, or with respect to, the Company or any of
its Subsidiaries or controlled Affiliates pursuant to this
Agreement shall be consistent in terms of format, detail and
otherwise with the accounting principles, policies and practices
of Harris, with such changes therein as may be requested by
Harris from time to time consistent with changes in such
accounting principles, policies and practices. Subject to the
foregoing, the Company shall give Harris as much prior notice as
reasonably practicable of any proposed determination of, or any
significant changes in, the Company’s accounting estimates
or accounting principles. Senior employees of Harris and the
Company with responsibility for accounting and financial
reporting shall consult with each other (and their respective
auditors, if requested) with respect to any such proposed
determination or change. Unless otherwise required by applicable
Law, the Company shall not make any such determination or
changes without the prior written consent of Harris if such a
determination or change would be sufficiently material to be
required to be disclosed in financial statements or other
disclosure documents filed by the Company or Harris with the SEC.

     
(j)     Auditors.
Ernst & Young shall initially serve as the independent
certified public accountants of the Company and its Subsidiaries
(the “Company Auditors”). The Company shall
thereafter maintain as the Company Auditors the same firm (and
its affiliated firms) as Harris appoints to act as the
independent certified public accountants for Harris and its
Subsidiaries, unless and until the audit committee of the
Company determines in good faith that it is required by Law or
that it is in the best interest of the stockholders of the
Company to appoint a different independent certified public
accountant for the Company than that appointed by Harris for
Harris and its Subsidiaries. The Company shall use commercially
reasonable efforts to enable the Company Auditors to complete
their audit such that they may date their opinion on the audited
financial statements of the Company (the “Annual
Financial Statements”) on the same date that
Harris’ independent certified public accountants (the
“Harris Auditors”) date their opinion on the
audited annual financial statements of Harris (the
“Harris Annual Statements”) and to enable
Harris to meet its timetable for the printing, filing and public
dissemination of the Harris Annual Statements, all in accordance
with this Agreement and as required by applicable Law. The
Company shall request that the Company Auditors date their
opinion on the Annual Financial Statements on the same date that
the Harris Auditors date their opinion on the Harris Annual
Statements. The Company shall provide to Harris on a timely
basis all information Harris reasonably requires to meet its
schedule for the preparation, printing, filing and public
dissemination of the Harris Annual Statements in accordance with
this Agreement and as required by applicable Law. Without
limiting the generality of the foregoing, the Company shall
provide all required financial information with respect to the
Company and its Subsidiaries to the Company Auditors in a
sufficient and reasonable time and in sufficient detail to
permit the Company Auditors to take all steps and perform all
reviews necessary to provide sufficient assistance to Harris
Auditors with respect to information to be included or contained
in the Harris Annual Statements. The Company shall authorize the
Company Auditors to make available to the Harris Auditors both
the personnel who performed, or are performing, the annual audit
of the Company and work papers related to the annual audit of
the Company, in all cases within a reasonable time prior to the
opinion date for the Company Auditors, so that the Harris
Auditors are able to perform the procedures they consider
necessary to take responsibility for the work of the Company
Auditors as it relates to the report of the Harris Auditors on
the Harris financial statements, all within sufficient time to
enable Harris to meet its timetable for the printing, filing and
public dissemination of the Harris Annual Statements.

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(k) Inaccuracies. If Harris determines in good faith
that there may be an inaccuracy in any financial statements of
the Company or any of its Subsidiaries or any deficiency in the
internal accounting controls or operations of the Company or any
of its Subsidiaries that could materially impact Harris’
financial statements, then upon request the Company shall
provide to Harris’ internal auditors access to the books
and records of Harris and its Subsidiaries so that Harris may
conduct reasonable audits relating to the financial statements
provided by the Company under this Agreement as well as to the
internal accounting controls and operations of the Company or
any of its Subsidiaries. Harris shall be responsible for the
fees and expense of its internal auditors in connection with
such audits but shall not be required to reimburse the Company
for any expenses incurred by the Company and its Subsidiaries in
connection therewith.

     
(l) Information for Equity Accounting Periods. The
Company shall provide to Harris on a timely basis all
information Harris reasonably requires to meet its schedule for
the preparation, printing, filing and public dissemination of
the Harris Annual Statements in accordance with this Agreement
and as required by applicable Law, and without limiting the
generality of the foregoing, the Company shall provide all
required financial information with respect to the Company and
its Subsidiaries to the Company Auditors in a sufficient and
reasonable time and in sufficient detail to permit the Company
Auditors to take all steps and perform all reviews necessary to
provide sufficient assistance to Harris Auditors with respect to
information to be included or contained in the Harris Annual
Statements.

     
(m) Certifications. The Company shall provide to
Harris certifications from appropriate employees of the Company,
at the times and in form and substance reasonably requested by
Harris, to provide backup support for any certifications by any
officers of Harris which are required to be included as part of,
or as an exhibit to, any report filed by Harris under the
Exchange Act pursuant to
Rule 13a-14 under
the Exchange Act, Item 601 of
Regulation S-K or
any successor or additional rule or regulation; provided,
however, that such employees need only provide such
certifications to the extent they believe they accurately
characterize the matters described therein.

     
(n) Nonpublic Information. Each party recognizes
that information shared pursuant to this Article IV may
constitute material nonpublic inside information, and will use
commercially reasonable efforts (i) to treat such material
nonpublic information as confidential, (ii) in the case of
Stratex only, not to disclose it to any Person who is not an
employee or director of such party or any of its Subsidiaries or
any of their advisers who need to know such information for
purposes of carrying out the provisions of this
Section 4.6. and (iii) in the case of Harris only, not
to disclose it to any Person who is not an employee or director
of such party or any of its Subsidiaries or any of their
advisers who need to know such information for purposes of
advising Harris with respect to its investment in the Company or
carrying out the provisions of this Section 4.6.

     
4.7.     Option Exercise. If and
to the extent the Company shall determine to use the proceeds
from the exercise of any options to acquire Common Stock to
repurchase shares of Class A Common Stock in the market at
the then prevailing market price, at the request of Harris or
otherwise, such determination or repurchase shall not be deemed
to be an Affiliate Transaction or a breach by Harris or any
Class B Director of any duty or obligation they may have to
the Company or its stockholders.

ARTICLE V

Miscellaneous

     
5.1.     Termination. This
Agreement shall terminate at the first time at which the Total
Voting Power of Voting Securities owned by Harris, its
Affiliates and their respective Nominees collectively represent
less than 10% of the Total Voting Power.

     
5.2.     Governing Law and Venue;
Waiver Of Jury Trial. (a) THIS AGREEMENT SHALL BE
DEEMED TO BE MADE IN AND IN ALL RESPECTS SHALL BE INTERPRETED,
CONSTRUED AND GOVERNED BY AND IN ACCORDANCE WITH THE LAW OF THE
STATE OF DELAWARE WITHOUT REGARD TO THE CONFLICT OF LAW
PRINCIPLES THEREOF. The

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parties hereby irrevocably submit to the jurisdiction of the
courts of the State of Delaware and the Federal courts of the
United States of America located in the State of Delaware
(collectively, the “Delaware Courts”) solely in
respect of the interpretation and enforcement of the provisions
of this Agreement and of the documents referred to in this
Agreement, and in respect of the transactions contemplated
hereby, and hereby waive, and agree not to assert, as a defense
in any action, suit or proceeding for the interpretation or
enforcement hereof or of any such document, that it is not
subject thereto or that such action, suit or proceeding may not
be brought or is not maintainable in any Delaware Court or that
the venue thereof may not be appropriate or that this Agreement
or any such document may not be enforced in or by such courts,
and the parties hereto irrevocably agree that all claims with
respect to such action or proceeding shall be heard and
determined in any Delaware Court; provided, however, that
notwithstanding the foregoing each party agrees that any claim
which primarily seeks injunctive relief and related monetary
claims that cannot be brought in any Delaware Court for
jurisdiction reasons may be commenced, heard and determined in
any other court having proper jurisdiction over such claim. The
parties hereby consent to and grant any Delaware Court
jurisdiction over the person of such parties and, to the extent
permitted by law, over the subject matter of such dispute and
agree that mailing of process or other papers in connection with
any such action or proceeding in the manner provided in
Section 5.7 or in such other manner as may be
permitted by law shall be valid and sufficient service thereof.

     
(b) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY
WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE
COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY
HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH
PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS
AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.
EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER, (II) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE
IMPLICATIONS OF THIS WAIVER, (III) EACH PARTY MAKES THIS
WAIVER VOLUNTARILY, AND (IV) EACH PARTY HAS BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.2.

     
5.3.     Severability. If any
provision of this Agreement shall be held to be illegal, invalid
or unenforceable, that provision will be enforced to the maximum
extent permissible so as to effect the intent of the parties,
and the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.
If necessary to effect the intent of the parties, the parties
will negotiate in good faith to amend this Agreement to replace
the unenforceable language with enforceable language which as
closely as possible reflects such intent.

     
5.4.     Amendment; Waiver. This
Agreement may be amended or any performance, term or condition
waived in whole or in part only by a writing signed by persons
authorized to so bind each party (in the case of an amendment)
or the waiving party (in the case of a waiver). Any such
amendment or waiver by the Company shall require the prior
approval of a majority of the Class A Directors. No failure
or delay by any party to take any action with respect to a
breach by another party of this Agreement or a default by
another party hereunder shall constitute a waiver of the former
party’s right to enforce any provision of this Agreement or
to take action with respect to such breach or default or any
subsequent breach or default. Waiver by any party of any breach
or failure to comply with any provision of this Agreement by
another party shall not be construed as, or constitute, a
continuing wavier of such provisions, or a waiver of any other
breach of or failure to comply with any other provisions of this
Agreement.

     
5.5.     Assignment. Harris
shall be entitled to assign all of its rights and obligations
under this Agreement to any Person to whom it transfers all of
the ownership interests in the Company then owned by Harris and
its Affiliates if such Person delivers a written undertaking to
the Company in which such Person expressly assumes all of
Harris’ obligations under this Agreement, and from and
after such a

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transfer all references herein to Harris shall be deemed to be
references to such Person. Except as provided in the immediately
preceding sentence, no party may assign this Agreement or any
rights, benefits, obligations or remedies hereunder without the
prior written consent of the other party hereto, except that no
such consent shall be required for a transfer by operation of
Law in connection with a merger or consolidation of such party.
Any attempt so to assign or to delegate any of the foregoing
without such consent shall be void and of no effect. This
Agreement shall be binding upon, inure to the benefit of and be
enforceable by and against the parties hereto and their
respective successors and permitted assigns. All certificates
representing shares subject to the terms and conditions of this
Agreement shall bear an appropriate legend with respect thereto.

     
5.6.     No Third-Party
Beneficiaries. This Agreement is intended to be for the sole
and exclusive benefit of the parties hereto and their respective
successors and permitted assigns. Nothing contained in this
Agreement is intended or shall be construed to give any other
Person any legal or equitable right, remedy, or claim under or
in respect to this Agreement or any provision herein contained.

     
5.7.     Notices. Any notice,
request, instruction or other document to be given hereunder by
any party to the others shall be in writing and delivered
personally or sent by registered or certified mail or by
overnight courier, postage prepaid, or by facsimile:

		
		
    if to Harris:
	 
		
    Harris Corporation 

     1025 West NASA Blvd. 

     Melbourne, FL 32919 

     Attn: Scott T. Mikuen 

     fax: (321) 727-9222
	 
		
    with a copy to (which shall not constitute notice):
	 
		
    Sullivan & Cromwell LLP 

     125 Broad Street 

     New York, NY 10004 

     fax: (212) 558-3588 

     Attention: Duncan C. McCurrach
	 
		
    if to the Company:
	 
		
    Harris Stratex Networks, Inc. 

     Research Triangle Park

     637 David Drive

     Morrisville, NC 27560

     Attn: General Counsel 

     fax: (919) 767-3233
	 
	 
		
    with a copy to (which shall not constitute notice): 

     

     Bingham McCutchen LLP

1900 University Avenue

East Palo Alto, CA 94303

Attn: Bart Deamer

fax: (650) 849-4800

or to such other Persons or addresses as may be designated in
writing by the party to receive such notice as provided above.
Any notice, request, instruction or other document given as
provided above shall be deemed given to the receiving party upon
actual receipt, if delivered personally; three Business Days
after deposit in the mail, if sent by registered or certified
mail; upon confirmation of successful transmission if sent by
facsimile (provided that if given by facsimile such notice,
request, instruction or other document shall be followed up
within one Business Day by dispatch pursuant to one of the other
methods described

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herein); or on the next Business Day after deposit with a
nationally recognized overnight courier, if sent by a nationally
recognized overnight courier.

     
5.8.     Entire Agreement. This
Agreement, the Non-Competition Agreement, the Registration
Rights Agreement, dated as of the date hereof, between Harris
and the Company and, solely with respect to the defined terms
therein which are incorporated by reference herein, the
Formation Agreement between Harris and Stratex constitute the
entire and only agreements between the parties relating to the
subject matter hereof and thereof and any and all prior
arrangements, representations, promises, understandings and
conditions in connection with said matters and any
representations, promises or conditions not expressly
incorporated herein or therein or expressly made a part hereof
or thereof shall not be binding upon any party.

     
5.9.     No Challenges; Specific
Performance. Each of Harris and the Company hereby
acknowledges and agrees that (a) it will not challenge the
validity of any provision of Articles III or IV hereof
in any Litigation or any other proceeding and (b) because
any breach of the provisions of Articles III or IV
would cause irreparable harm and significant injury that would
be difficult to ascertain and would not be adequately
compensable by damages alone, each party will have the right to
enforce such provisions by injunction, specific performance or
other equitable relief without prejudice to any other rights and
remedies the enforcing party may have. The reference to specific
Articles in this Section is not a waiver of any party’s
rights to seek equitable relief for breaches of other Articles
or Sections.

     
5.10.     Headings. The headings
in this Agreement are included for convenience of reference only
and shall not in any way limit or otherwise affect the meaning
or interpretation of this Agreement.

     
5.11.     Counterparts. This
Agreement may be executed in any number of counterparts, each of
which shall be deemed to be an original, but all of which, taken
together, shall constitute one and the same instrument.

     
5.12.     Relationship of
Parties. Nothing herein contained shall constitute the
parties hereto members of any partnership, joint venture,
association, syndicate, or other entity, or be deemed to confer
on any of them any express, implied, or apparent authority to
incur any obligation or liability on behalf of another party,
except as otherwise expressly provided in any Agreement.

     
5.13.     Construction. This
Agreement has been negotiated by the parties and their
respective counsel in good faith and will be fairly interpreted
in accordance with its terms and without any strict construction
in favor of or against any party. Time shall be of the essence
of this Agreement.

     
5.14.     Effectiveness. This
Agreement shall become effective only when one or more
counterparts shall have been signed by each party and delivered
to each other party

     
5.15.     Enforcement by the
Company. Harris agrees that a majority of the Class A
Directors shall have the sole and exclusive right to direct the
exercise and enforcement of all rights of the Company hereunder.

[Remainder of Page Intentionally Left Blank]

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IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be duly executed by their respective officers
thereunto duly authorized as of the date first above written.

		
	 	
    HARRIS CORPORATION

			
	 	By 	/s/ R. Kent Buchanan
     

		
	 	
     

	 	
    Name: R. Kent Buchanan
	 	
    Title:  Vice President, Corporate Technology and
Development
	 
	 	
    HARRIS STRATEX NETWORKS, INC.

			
	 	By 	/s/ Guy M. Campbell
     

		
	 	
     

	 	
    Name: Guy M. Campbell
	 	
    Title:  Chief Executive Officer and President

E-20

Table of Contents

Exhibit
A

Amended
and Restated Certificate of Incorporation

[omitted]

 

Table of Contents

Exhibit
B

Amended
and Restated Bylaws

[omitted]

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