Document:

EX-10.1

COOPER CAMERON CORPORATION

NON-QUALIFIED [INCENTIVE] STOCK OPTION AGREEMENT

Effective Date: {DATE}

1. Purpose. As an additional incentive and inducement to the employee herein granted
a stock option (the “Optionee”) to remain in the employment of the Company and its subsidiaries and
to acquire an ownership position in the Company, thereby aligning the interests of the Optionee
with those of the Company and its stockholders, the Company hereby grants to the Optionee the
option to purchase from the Company at the times and upon the terms and conditions set forth on the
attached Notice of Grant of Stock Options and Option Agreement (the “Agreement”).

2. Terms subject to the Plan. The Agreement is expressly subject to the terms and
provisions of the Company’s Amended and Restated Long-Term Incentive Plan (the “Plan”), a copy of
which is attached hereto, and in the event there is a conflict between the terms of the Plan and
the Agreement, the terms of the Plan shall control.

3. Purchase Price. The purchase price of the shares of Stock subject to the Agreement
shall be ${PRICE} per share.

4. Vesting. The option granted pursuant to the Agreement (“Option”) may be exercised
during the period beginning {DATE} (one year from the date on which it was granted), and ending
{DATE}, (seven years from the date on which it was granted), in whole at any time or in part from
time to time, but only as to the number of shares as to which the right to exercise has vested at
the time of exercise as set forth in the Agreement.

5. Exercise of Option. The Option granted herein may be exercised, in whole or in
part, from time to time by the Optionee by giving written notice to the Secretary of the Company on
or prior to the date on which the Option terminates. Such notice shall identify the Option and
specify the number of whole shares of Common Stock that the Optionee desires to purchase. Any
notice of exercise shall be in a form substantially similar to the form attached hereto. Payment
of the purchase price of the shares of Stock that the Optionee desires to purchase shall be
tendered in full at the time of giving notice by (i) cash, check, or bank draft payable and
acceptable to the Company (or the equivalent thereof acceptable to the Company), (ii) shares of
Company Common Stock theretofore owned and held by the Optionee for more than six months, (iii) a
combination of cash and shares of Company Common Stock theretofore owned and held by the Optionee
for more than six months, or (iv) the Optionee delivering to the Company a properly executed
exercise notice together with irrevocable instructions to a broker to promptly deliver to the
Company cash or a check payable and acceptable to the Company to pay the exercise price. The
notice shall not be considered to be properly given unless accompanied by all documentation deemed
appropriate by the Company to reflect exercise of the Option and compliance with all applicable
laws, rules and regulations. The notice shall state a requested delivery date for the share
certificate or certificates at least fifteen days after the delivery of such notice; provided,
however, that if the Optionee is exercising any Option granted pursuant to this Agreement in
connection with a broker’s transaction described in 5(iv) above, such notice shall state a
requested date of delivery to the broker of such share certificate or certificates which shall be
no later than five business days after delivery of such notice or such greater or lesser time as
may be required or permitted by law.

6. Shares Subject to Listing and Registration. The Option granted herein shall be
subject to the listing, registration or qualification of the shares of Stock subject to such Option
upon any securities exchange or under any applicable state or federal law. This Option may not be
exercised in whole or in part unless such listing, registration or qualification shall have been
effected or obtained free of any conditions not reasonably acceptable to the Board of Directors.

7. Changes in the Company’s Capital Structure. The number of shares of Stock subject
to the Option and the price per share payable upon exercise of the Option may be adjusted in an
equitable manner determined by the Compensation Committee of the Board of Directors, in its sole
discretion and without liability to any person, in the event of (i) a subdivision or consolidation
of shares of Stock or other capital adjustments, (ii) the payment of a stock dividend or a
recapitalization, or (iii) a “corporate transaction”, as such term is defined in Treasury
Regulation §1.425-1(a)(1)(ii), or any other transaction which, in the opinion of the Committee, is
similar to a “corporate transaction”, as defined by such Treasury Regulations as in effect on the
date hereof, including without limitation any spin-off or other distribution to the security
holders of the Company of securities or property of the Company or a subsidiary thereof. No
adjustment pursuant to this provision shall require the Company to issue or sell a fractional share
upon exercise of the Option, such Option to be adjusted down to the nearest full share in the event
of such adjustment.

8. Covenant Not To Compete, Solicit or Disclose Confidential Information.

(a) The Optionee acknowledges that the Optionee is in possession of and has access to
confidential information, including material relating to the business, products or services of the
Company and that he or she will continue to have such possession and access during employment by
the Company. The Optionee also acknowledges that the Company’s business, products and services are
highly specialized and that it is essential that they be protected, and, accordingly, the Optionee
agrees that as partial consideration for the Option granted herein that should the Optionee engage
in any “Detrimental Activity,” as defined below, at any time during his or her employment or during
a period of one year following his or her termination the Company shall be entitled to: (i) cancel
any un-exercised portion of the Option; (ii) recover from the Optionee the value of any portion of
the Option that has been exercised; (iii) seek injunctive relief against the Optionee; (iv) recover
all damages, court costs, and attorneys’ fees incurred by the Company in enforcing the provisions
of this Option grant, and (v) set-off any such sums to which the Company is entitled hereunder
against any sum which may be owed the Optionee by the Company.

(b) “Detrimental Activity” for the purposes hereof, other than with respect to involuntary
termination without cause, termination in connection with or as a result of a “Change of Control”
(as defined in the Plan), or termination following a reduction in job responsibilities, shall
include: (i) rendering of services for any person or organization, or engaging directly or
indirectly in any business, which is or becomes competitive with the Company; (ii) disclosing to
anyone outside the Company, or using in other than the Company’s business, without prior written
authorization from the Company, any confidential information including material relating to the
business, products or services of the Company acquired by the Optionee during employment with the
Company; (iii) soliciting, interfering, inducing, or attempting to cause any employee of the
Company to leave his or her employment, whether done on Optionee’s own account or on account of any
person, organization or business which is or becomes competitive with the Company, or (iv) directly
or indirectly soliciting the trade or business of any customer of the Company. “Detrimental
Activity” for the purposes hereof with respect to involuntary termination without cause,
termination in connection with or as a result of a “Change of Control”, or termination following a
reduction in job responsibilities, shall include only part (ii) of the preceding sentence.

9. Exchange Option

The acceptance of this grant shall constitute acceptance of and consideration for the
amendment to the Plan and, if applicable to you, to the Company’s Broadbased 2000 Incentive Plan
(the “Broadbased Plan”) changing the method by which the number and exercise price of Exchange
Options are determined in the event the Company is merged into or consolidated with another entity.
This change is explained in the Appendix to the Prospectus, dated November 14, 2002. Such
amendment affects all outstanding option grants of the Optionee under the Plan and, where
applicable, the Broadbased Plan.

10. Termination of Employment.

(a) Except as stated in 10 (b) below with respect to retirement, if the Optionee’s employment
is terminated by reason of retirement or disability, the Optionee shall have the right to exercise
the Option granted hereunder at any time within the term of the option or a three (3) year period
commencing on the day next following such termination, whichever is less, to the extent that the
individual was entitled to exercise the same on the day immediately prior to such termination. No
additional shares shall vest for the benefit of the Optionee after the termination date.

(b) If the Optionee’s employment is terminated by reason of retirement and the Optionee is age
65 or older with at least ten years of service, the Optionee shall have the right to exercise the
Option granted hereunder at any time within the term of the option or a three (3) year period
commencing on the day next following such termination, whichever is less, and any unvested options
will accelerate and become immediately vested (exercisable).

(c) If the Optionee’s employment is terminated for reasons other than as stated in 10 (a) and
10 (b) above and 10 (d) below, the Option shall be exercisable by the Optionee only within a three
(3) month period after such termination or the term of the option, whichever is less, but only to
the extent it was exercisable immediately prior to the date of termination. No additional shares
shall vest for the benefit of the Optionee after the termination date.

(d) In the event of the death of the Optionee prior to the expiration of the Option granted
hereunder, the Option shall vest in full and his personal representatives, heirs, legatees or
distributees shall have the right for a period of three (3) years from the date of death or the
term of the option, whichever is less, to exercise the Option.

11. Employment. This Agreement is not an employment agreement. Nothing contained
herein shall be construed as creating any employment relationship.

12. Notices. All notices required or permitted under this Agreement shall be in
writing and shall be delivered personally or by mailing the same by registered or certified mail
postage prepaid, to the other party. Notice given by mail as below set out shall be deemed
delivered at the time and on the date the same is postmarked.

13. Definitions. All undefined capitalized terms used herein shall have the meanings
assigned to them in the Plan.

14. Successors and Assigns. Subject to the provisions of Paragraph 10 hereof, this
Agreement shall inure to the benefit of and be binding upon the heirs, legatees, distributees,
executors and administrators of the Optionee and the successors and assigns of the Company. This
Agreement shall be interpreted, construed, and enforced in accordance with the laws of the State of
Texas. In no event shall an Option granted hereunder be voluntarily or involuntarily sold,
pledged, assigned or transferred by the Optionee other than: (i) by will or the laws of descent
and distribution; or (ii) pursuant to the qualified domestic relations order (as defined by the
Internal Revenue Code); or (iii) with respect to Awards of nonqualified stock options, by transfer
by an Optionee to a member of the Optionee’s Immediate Family, or to a partnership or limited
liability company whose only partners or shareholders are the Optionee and members of his Immediate
Family. However, any Award transferred shall continue to be subject to all terms and conditions
contained in the Award Agreement.

15. Tax Withholding. Optionee agrees that as a condition to the exercise of the
Option granted hereby, any cash payment under the Plan shall be reduced by, or shall include such
additional amounts required to be withheld or paid with respect thereto under all applicable
federal, state and local taxes and other laws and regulations that may be in effect as of the date
of each such payment (“Tax Amounts”.) Any issuance of Stock pursuant to the exercise of an Option
shall not be made until appropriate arrangements have been made for the payment of any Tax Amounts
that may be required to be withheld or paid with respect thereto. Such arrangements may, at the
discretion of the Company, include allowing Optionee to tender to the Company shares of Stock owned
by Optionee, or to request the Company to withhold a portion of the shares of Stock being acquired
pursuant to the exercise, together with payment of any remaining portion of all Tax Amounts in cash
or by check payable and acceptable to the Company.

Notices to the Company should be addressed to:

Cooper Cameron Corporation

1333 West Loop South, Suite 1700

Houston, Texas 77027

Attention: Corporate Secretary

Telephone: 713-513-3322

1

Notice of Grant of Stock Options and Option Agreement.

Stock Option Grant Summary

     

Effective {DATE}, you have been granted a {Non-Qualified} {Incentive} Stock Option to buy {# of
Shares} shares of COOPER CAMERON CORPORATION (the Company) stock at ${PRICE} per share.

Vesting Schedule

Signatures

2EX-10.1

SEPARATION AGREEMENT AND RELEASE

The following is an agreement between Barry Morris (“Mr. Morris”) and Chiquita Brands
International, Inc. (the “Company”) regarding Mr. Morris’s cessation of employment with the
Company.

In consideration of the mutual promises contained in this Agreement, the Company and Mr.
Morris agree as follows:

1. Mr. Morris’s last day of employment with the Company will be December 31, 2004. (the
“Separation Date”).

2. The Company will pay Mr. Morris all salary due through his Separation Date and will also
pay him a lump sum payment of earned and accrued, banked and/or carryover vacation pay due under
the Company’s vacation policy, payable at the rate of Mr. Morris’s current base salary, less
appropriate tax withholdings and deductions. At November 20, 2004, the amount of such vacation
pay was $59,654 which represents 66 days.

3. Separation Benefits. Provided Mr. Morris fulfills his obligations hereunder, the
Company will provide the following Separation benefits to Mr. Morris:

(a) Separation Pay. The Company will pay Mr. Morris a lump sum payment of $235,000
(“Separation Pay”) which represents 52 weeks (the “Separation Payment Period”) of Mr. Morris’s
current base salary, less appropriate tax withholdings and deductions. All payments will be made
on the first payday of the payroll processing cycle immediately following either Mr. Morris’s
Separation Date or the effective date of this Agreement after Mr. Morris’s acceptance of it,
whichever is later.

(b) Medical Benefits. Mr. Morris will retain any medical and/or dental coverage in
which he is enrolled through the last day of the month in which the Separation Date occurs. Mr.
Morris may extend the ChiquitaFlex medical and dental benefits in which he is enrolled as of the
Separation Date by electing coverage under COBRA. The Company will pay the full premium for up to
12 months of COBRA coverage. For the balance of the COBRA period, Mr. Morris will be responsible
for paying the full premium for COBRA coverage. All other benefits in which Mr. Morris is enrolled
or eligible as of the Separation Date will cease as of the Separation Date.

(c) Outplacement Service. The Company will provide Mr. Morris with twelve months of
Senior Executive outplacement service through Right Management Consultants or Drake Beam and Morin.
The outplacement service will be forfeited by Mr. Morris if he does not initiate outplacement
services within six months following his Separation Date.

(e) Stock Options. Mr. Morris currently has options to purchase 165,000 shares of
Company stock, 50% of which are vested. The Company will accelerate the vesting of an additional
25%, or 41,250 shares, as of the Separation Date. Mr. Morris will have twelve months after the
Separation Date in which to exercise all vested stock options. The unvested stock options will
terminate as of the Separation Date.

(f) Long Term Incentive Plan. The Company will vest as of the Separation date the
2,496 restricted shares granted under the Long Term Incentive Plan on February 20, 2004. Such
shares will be delivered within thirty days of the Separation date.

(g) 2004 Bonus. Mr. Morris will receive the amount of $58,750 as a bonus for 2004,
payable at the time bonuses are paid for 2004, but no later than March 31, 2005.

(h) Computer. Mr. Morris will be entitled to retain the Dell laptop computer
currently used by him as his own personal property with all company-licensed programs and all
company-related files and information removed from the computer.

(i) The Company will reimburse Mr. Morris for attorneys’ fees incurred by him in connection
with this Agreement up to a maximum of $5,000.00 upon presentation to the Company of an itemized
invoice.

4. Indemnification. The Company shall indemnify and defend Mr. Morris from and against
all claims and causes of action which arose prior to the Separation Date asserted against Mr.
Morris by third parties by reason of his actions or omissions as an Executive Officer of the
Company to the extent permitted by law, the Company’s Certificate of Incorporation or Bylaws. The
Company affirms that it will not cancel any coverage for Mr. Morris that exists under any director
and officer liability insurance policy maintained by the Company and will not discriminate against
Mr. Morris vis-à-vis other officers and former officers in any purchase or renewal of any such
policy or any purchase of an extended reporting period under a policy that is not renewed.

5. Mr. Morris’s Post-Separation Obligations. In consideration of the payments and
benefits provided in Section 3 above, Mr. Morris will:

(a) transfer his responsibilities before the Separation Date in an appropriate manner and take
such actions as are necessary to assure a smooth transition;

(b) not represent or bind the Company or enter into any agreement on behalf of the Company at
any time after the Separation Date;

(c) return to the Company on his Separation Date his Company credit card(s), identification
card and office keys;

(d) return to the Company not later than five (5) days after the Separation Date, all other
Company property and materials, including but not limited to all files, books, documents, records
and memoranda, and repay all outstanding cash advances. Mr. Morris will also file a final expense
report within a reasonable period of time after the Separation Date, if he has any unreimbursed
expenses;

(e) not use or disclose, directly or indirectly, to anyone not connected with the Company any
confidential, commercial or financial information, or trade or business secrets obtained during the
term of employment, or make copies of any memoranda, books, records, customer lists, price lists or
other documents (whether on computer or not) for use outside the Company, except as specifically
authorized in writing by an officer of the Company, or as may be required by applicable law;

(f) fully cooperate and assist the Company with any litigation matters or agency proceedings
for which his testimony or cooperation is requested, provided that he is compensated for his time
at his current rate of pay and for any reasonable and necessary expenses incurred as a result of
his cooperation and assistance;

(g) sign all necessary resignations from the Boards of Directors and/or officer positions of
the Company and its subsidiaries;

(h) for a period extending until twelve (12) months after the Separation Date, not directly or
indirectly solicit or attempt to solicit any officer or management-level employee to leave the
employ of the Company;

(i) not directly or indirectly inappropriately interfere with or disrupt any relationship,
contractual or otherwise, between the Company and its customers, suppliers, distributors or other
similar parties or contact any customer for the purpose of influencing the directing or
transferring of any business or patronage away from the Company.

(j) not directly or indirectly engage or hold an interest in any company listed in Exhibit A
or any subsidiary or affiliate of such business (the “Competing Businesses”), or directly or
indirectly have any interest in, own, manage, operate, control, be connected with as a stockholder
(other than as a stockholder of less than five percent (5%) ), joint venturer, officer, director,
partner, employee or consultant, or otherwise engage or invest or participate in, any business
conducted by a Competing Business, for a period of twenty-four (24) months following the Separation
Date.

6. Remedies. Mr. Morris expressly acknowledges that the restrictive covenants set
forth in this Agreement, including, without limitation, the duration, the business scope and the
geographic scope of such covenants, are necessary in order to protect and maintain the proprietary
interests and other legitimate business interests of the Company. Mr. Morris further acknowledges
that the remedy at law for any breach or threatened breach of this Agreement will be inadequate
and, accordingly, that the Company shall, in addition to all other available remedies (including,
without limitation, seeking such damages as it can show it has sustained by reason of such breach),
be entitled to injunctive or any other appropriate form of equitable relief.

7. Confidentiality. Mr. Morris understands that the Company intends to describe this
Agreement in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission
within four days after this Agreement becomes effective. Until such filing is made, Mr. Morris
will hold in confidence, and will not disclose to anyone, any of the terms of separation other than
immediate family members and advisors, except as required by law. Mr. Morris shall not make any
public derogatory remarks concerning the Company or any of its officers, directors, employees or
shareholders, and shall not initiate any contact with the press or any other media, and the Company
will direct its officers and directors not to make any public derogatory remarks regarding Mr.
Morris

8. General Release. In exchange for the payments and benefits identified in the
Agreement, which Mr. Morris acknowledges are in addition to anything of value to which he is
already entitled, Mr. Morris hereby releases, settles and forever discharges the Company, its
parent, subsidiaries, affiliates, successors and assigns, together with their past and present
directors, officers, employees, agents, insurers, attorneys, and any other party associated with
the Company, to the fullest extent permitted by applicable law, from any and all claims, causes of
action, rights, demands, debts, liens, liabilities or damages of whatever nature, whether known or
unknown, suspected or unsuspected, which Mr. Morris ever had or may now have against the Company or
any of the foregoing. This includes, without limitation, any claims, liens, demands, or
liabilities arising out of or in any way connected with Mr. Morris’s employment with the Company
and the termination of that employment, pursuant to any federal, state or local laws regulating
employment such as the Civil Rights Act of 1964, the Civil Rights of 1991, the Americans with
Disabilities Act of 1990, the Family and Medical Leave Act of 1993, the Civil Rights Act known as
42 USC 1981, the Employee Retirement Income Security Act of 1974 (“ERISA”), the Worker Adjustment
and Retraining Notification Act (“WARN”), the Fair Labor Standards Act of 1938, as well as all
federal, state and local laws, except that this release shall not affect any rights of Mr. Morris
for benefits payable under any Company benefit plans, Social Security, Worker’s Compensation or
Unemployment laws or rights arising out of any breach of this Agreement by the Company.

9. Waiver and Release Under ADEA and OWBPA. Mr. Morris further expressly and
specifically waives any and all rights or claims under the Age Discrimination in Employment Act of
1967 and the Older Workers Benefit Protection Act (collectively the “Act”). Mr. Morris
acknowledges and agrees that this waiver of any right or claim under the Act (the “Waiver”) is
knowing and voluntary, and specifically agrees as follows: (a) that this Agreement and this Waiver
is written in a manner which he understands; (b) that this Waiver specifically relates to rights or
claims under the Act; (c) that he does not waive any rights or claims under the Act that may arise
after the date of execution of this Agreement; (d) that he waives rights or claims under the Act in
exchange for consideration in addition to anything of value to which he is already entitled; and
(e) that he is hereby advised in writing to consult with an attorney prior to executing this
Agreement.

10. It is understood and agreed that for purposes of this Agreement, the term “Company” as
used herein, shall include not only Chiquita Brands International, Inc., but also all of its direct
or indirect subsidiaries or affiliated companies, and all officers, directors, and employees of any
of the foregoing.

11. This Agreement shall bind the Mr. Morris’s heirs, executors, administrators, personal
representatives, spouse, dependents, successors and assigns.

12. This Agreement shall not be construed as an admission by the Company of any wrongdoing or
any violation of any federal, state or local law, regulation or ordinance, and the Company
specifically disclaims any wrongdoing whatsoever against Mr. Morris on the part of itself, its
employees, representatives or agents.

13. Neither this Agreement, nor any right or interest hereunder, shall be assignable by Mr.
Morris, his beneficiaries or legal representatives, without the prior written consent of an officer
of the Company.

14. This Agreement sets forth the entire agreement between the parties with the exception of
any previous Agreement regarding confidentiality, non-solicitation and non-competition. The terms
of this Agreement may not be modified other than in a writing signed by the parties.

15. This Agreement shall in all respects be interpreted, enforced and governed by the laws of
the State of Ohio. The parties agree that any action relating in any manner to this Agreement or
to Mr. Morris’s relationship with the Company must be pursued in federal or state court located in
Hamilton County, Ohio, and the parties specifically consent and submit to the jurisdiction of the
courts in Hamilton County, Ohio.

16. If any provision of this Agreement is determined to be unenforceable by any court, then
such provision will be modified or omitted to the extent necessary to make the remaining provisions
of this Agreement enforceable.

17. Mr. Morris acknowledges that he understands that he has twenty-one (21) days after receipt
of this Agreement to decide whether to accept it and that he may revoke any acceptance of this
Agreement within (7) days of such acceptance. This Agreement shall not become effective until the
seven (7) day revocation period has expired.

	 	 	 	 	 	 	 
	TAKE THIS AGREEMENT HOME, READ IT AND CAREFULLY CONSIDER ALL OF ITS PROVISIONS BEFORE SIGNING IT.	IT INCLUDES A RELEASE OF KNOWN AND UNKNOWN
	CLAIMS.
	IN WITNESS WHEREOF, the Company hereby offers this Agreement to Mr. Morris on this	 	 
	4th day of January, 2004.	 	 	 	 
	 	 	CHIQUITA BRANDS INTERNATIONAL, INC.
	 	 
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Robert W. Olson

	 
	 	 	 	 	 	 
	 	 	 	 	 

	 
	 	 	 	 	 	 
	 	 	 	 	Senior Vice President

	 
	 	 	 	 	 	 
	ACCEPTANCE
	 	 	 	 
	 
	 	 	 	 	 	 
	I hereby agree to the terms of this Agreement and acknowledge my acceptance of it this 6th
	 	 
	 
	 	 	 	 	 	 
	 
	 	 
	 
	 	 	 	 	 	 
	day of January, 2004.
	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 	 	 
	WITNESS:

	 	

	 	

	 	

	 
	 	 	 	 	 	 
	/s/

	 	 	 	/s/
	 	

	 

	 	 	 	 
	 	

	 
	 	 	 	 	 	 
	
 
	 	 	 	Barry H. Morris

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