Document:

exv10w1

Exhibit 10.1

HARRIS CORPORATION

2005 EQUITY INCENTIVE PLAN

STOCK OPTION AWARD AGREEMENT

TERMS AND CONDITIONS

(AS OF JULY 4, 2009)

     1. Stock Option — Terms and Conditions. Under and subject to the provisions of the
Harris Corporation 2005 Equity Incentive Plan (as amended from time to time, the “Plan”) and upon
the terms and conditions set forth herein (these “Terms and Conditions”), Harris Corporation (the
“Corporation”) has granted to the employee receiving these Terms and Conditions (the “Employee”) a
Non-Qualified Stock Option (the “Option”) to purchase such number of shares of common stock, $1.00
par value per share (the “Common Stock”), of the Corporation at such designated exercise price per
share as set forth in the Award Letter (as defined below) from the Corporation to the Employee.
Such grant is subject to the following Terms and Conditions (these Terms and Conditions, together
with the Corporation’s letter to the Employee specifying the number of shares issuable upon
exercise of the Option, the exercise price and certain other terms (the “Award Letter”), are
referred to as the “Agreement”).

          (a) Except as set forth in Sections 1(e), 2(b), 2(c) and 2(d), the Option shall not be
exercisable to any extent until and unless the Employee shall have remained continuously in the
employ of the Corporation until the Option shall become exercisable. The grant of the Option shall
not limit or restrict the Corporation’s rights to terminate the Employee’s employment.

          (b) During the lifetime of the Employee, the Option shall be exercisable only by the Employee,
and, except as otherwise set forth in Section 2, only while the Employee continues as an Employee
of the Corporation.

          (c) Notwithstanding any other provision of these Terms and Conditions and the Agreement, the
Option shall expire no later than ten years from the grant date (the “Expiration Date”), and shall
not be exercisable thereafter.

          (d) Except as otherwise provided in the Award Letter, the Option shall vest and become
exercisable as to the following shares issuable upon exercise of the Option:

               (i) After the end of one year from the grant date and prior to the end of two years from the
grant date, not more than one-third of the aggregate shares issuable upon exercise of the Option;

               (ii) After the end of two years from the grant date and prior to the end of three years from
the grant date, not more than two-thirds of the aggregate shares issuable upon exercise of the
Option; and

               (iii) After the end of three years from the grant date, all shares issuable upon exercise of
the Option.

          (e) Upon a Change of Control of the Corporation as defined in Section 11.1 of the Plan, any
outstanding Option shall immediately become fully vested and exercisable.

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     2. Termination of Employment.

          (a) Termination of Employment. In the event of termination of employment with the
Corporation other than as a result of circumstances described in Sections 2(b), 2(c), 2(d), and
2(e) below, the Option, whether exercisable or not, shall terminate immediately upon termination of
employment.

          (b) Death. Notwithstanding Section 1(d), in the event of the death of the Employee
(x) while employed by the Corporation, (y) following the Employee’s cessation of employment with
the Corporation due to permanent disability of the Employee while employed by the Corporation, or
(z) following the retirement of the Employee if the retirement occurred after the Employee reached
age 62 and had ten or more years of full-time service with the Corporation, the Option shall
immediately become fully vested and exercisable, and may be exercised by the Employee’s Beneficiary
(as defined in Section 4) but only until the earlier of (i) the date that is twelve (12) months
following the date of death of the Employee or (ii) the Expiration Date. In the event of the death
of the Employee following termination of or cessation of employment with the Corporation, unless
the first sentence of this Section 2(b) is applicable, the Option may be exercised by the
Employee’s Beneficiary but only until the earlier of (i) the date that is twelve (12) months
following the date of death of the Employee or (ii) the Expiration Date, and only to the extent
that the Option was exercisable on the day immediately prior to the date of the Employee’s death.

          (c) Disability. In the event of cessation of employment with the Corporation due to
permanent disability of the Employee (as determined by the Corporation) while employed by the
Corporation, unless the first sentence of Section 2(b) becomes applicable, the Option shall
immediately become fully vested and exercisable and may be exercised by the Employee until the
Expiration Date.

          (d) Retirement. In the event of retirement of the Employee, the Option may, if the
retirement occurs after the Employee has reached age 55 and has ten or more years of full-time
service with the Corporation, be exercised by the Employee until the Expiration Date, but only to
the extent that the Option was vested and exercisable at the date of such retirement. In the event
of retirement of the Employee, the Option may, if the retirement occurs after the Employee has
reached age 62 and has ten or more years of full-time service with the Corporation, unless the
first sentence of Section 2(b) becomes applicable, be exercised by the Employee until the
Expiration Date and shall continue to vest and become exercisable after such retirement according
to the schedule set forth in Section 1(d).

          (e) Involuntary or Voluntary Termination. In the event of termination of
employment of the Employee by the Corporation other than for Misconduct, the Option may be
exercised by the Employee but only until the earlier of (i) the date that is ninety (90) days
following such termination of employment or (ii) the Expiration Date, and only to the extent that
the Option was vested and exercisable at the date of such termination of employment. In the event
of termination of employment of the Employee by the Corporation for deliberate, willful or gross
misconduct (“Misconduct”), as determined by the Corporation, the Option shall immediately terminate
and shall not be exercisable. In the event of termination of employment of the Employee by the
Employee other than as a result of death, permanent disability or retirement (in a circumstance in
which Section 2(d) applies), the Option may be exercised by the Employee but only until the earlier
of (i) the date that is thirty (30) days following such termination of employment or (ii) the
Expiration Date, and only to the extent that the Option was vested and exercisable at the date of
such termination of employment.

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     3. Exercise of Option. The Option may be exercised by delivering to the Corporation
at the office of the Corporate Secretary (i) a written notice, signed by the person entitled to
exercise the Option, stating the designated number of shares such person then elects to purchase;
provided, however, that in the discretion of the Corporation, notice sent through an approved
electronic means may be substituted for a signed, written notice, (ii) payment in an amount equal
to the full exercise price for the shares to be purchased, and (iii) in the event the Option is
exercised by any person other than the Employee, such as the Employee’s Beneficiary, evidence
satisfactory to the Corporation that such person has the right to exercise the Option. Payment of
the exercise price shall be made (a) in cash, (b) in previously acquired shares of Common Stock of
the Corporation, or (c) in any combination of cash and such shares. Shares tendered in payment of
the exercise price which have been acquired through an exercise of a stock option must have been
held at least six months prior to exercise of the Option and shall be valued at the Fair Market
Value. Upon the exercise of the Option, the Corporation shall cause the shares in respect of which
the Option shall have been so exercised to be issued and delivered by crediting such shares to a
book-entry account for the benefit of the Employee or the Employee’s Beneficiary maintained by the
Corporation’s stock transfer agent or its designee. The Employee does not have any rights as a
shareholder in respect of any shares as to which the Option shall not have been duly exercised and
no rights as a shareholder shall exist prior to the proper exercise of such Option.

     4. Prohibition Against Transfer; Designation of Beneficiary. The Option and rights
granted by the Corporation under these Terms and Conditions and the Agreement are not transferable
except to family members or trusts by will or by the laws of descent and distribution, provided
that the Option may not be so transferred to family members or trusts except as permitted by
applicable law or regulations. The Employee may designate a beneficiary or beneficiaries (the
“Employee’s Beneficiary”) to exercise any rights or receive any benefits under Section 2(b)
following the Employee’s death. To be effective, such designation must be made in accordance with
such rules and on such form as prescribed by the Corporation for such purpose, which completed form
must be received by the office of the Corporate Secretary prior to the Employee’s death. If the
Employee fails to designate a beneficiary, or if no designated beneficiary survives the Employee’s
death, the Employee’s estate shall be deemed the Employee’s Beneficiary. Without limiting the
generality of the foregoing, except as aforesaid, the Option may not be sold, exchanged, assigned,
transferred, pledged, hypothecated, encumbered or otherwise disposed of, shall not be assignable by
operation of law, and shall not be subject to execution, attachment, charge, alienation or similar
process. Any attempt to effect any of the foregoing shall be null and void and without effect.

     5. Employment by Corporation, Subsidiary or Successor; Termination or Cessation of
Employment. For the purpose of these Terms and Conditions and the Agreement, (a) employment by
the Corporation, any Subsidiary of or a successor to the Corporation shall be considered employment
by the Corporation, and (b) references to “termination of employment,” “cessation of employment,”
“ceases to be employed,” “ceases to be an Employee” or similar phrases shall mean the last day
actually worked (as determined by the Corporation), and shall not include any notice period, or any
period of severance or separation pay or pay continuation (whether required by law or custom or
otherwise provided) following the last day actually worked.

     6. Miscellaneous. These Terms and Conditions and the other portions of the Agreement:
(a) shall be binding upon and inure to the benefit of any successor to the Corporation; (b) shall
be governed by the laws of the State of Delaware and any applicable laws of the United States; and
(c) except as permitted under Sections 3.2, 12 and 13.6 of the Plan, may not be amended without the
written consent of both the Corporation and the Employee. The Agreement shall not in any way
interfere with or limit the right of the Corporation to terminate
the Employee’s employment or service with the Corporation at any time, and no contract or right of
employment shall be implied by these Terms and Conditions and the Agreement of which they form a
part.

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     7. Securities Law Requirement. The Corporation shall not be required to issue shares
upon exercise of the Option unless and until: (a) such shares have been duly listed upon each stock
exchange on which the Corporation’s Common Stock is then registered; and (b) a registration
statement under the Securities Act of 1933 with respect to such shares is then effective.

     8. Board Committee Administration. The Board Committee shall have authority, subject
to the express provisions of the Plan as in effect from time to time, to construe these Terms and
Conditions and the Agreement and the Plan, to establish, amend and rescind rules and regulations
relating to the Plan, and to make all other determinations in the judgment of the Board Committee
necessary or desirable for the administration of the Plan. The Board Committee may correct any
defect or supply any omission or reconcile any inconsistency in these Terms and Conditions and the
Agreement in the manner and to the extent it shall deem expedient to carry the Plan into effect,
and it shall be the sole and final judge of such expediency.

     9. Incorporation of Plan Provisions. These Terms and Conditions and the Agreement are
made pursuant to the Plan, the provisions of which are hereby incorporated by reference.
Capitalized terms not otherwise defined herein have the meanings set forth for such terms in the
Plan. In the event of a conflict between the terms of these Terms and Conditions and the Agreement
and the Plan, the terms of the Plan shall govern.

4Exhibit 10.1

Exhibit 10.1

United States Department of the Treasury

1500 Pennsylvania Avenue, NW

Washington, D.C. 20220

September 2, 2009

Ladies and Gentlemen:

Reference is made to that certain Letter Agreement incorporating the Securities Purchase
Agreement — Standard Terms (the “Securities Purchase Agreement”), dated as of the date set forth
on Schedule A hereto, between the United States Department of the Treasury (the “Investor”) and the
company set forth on Schedule A hereto (the “Company”). Capitalized terms used but not defined
herein shall have the meanings assigned to them in the Securities Purchase Agreement. Pursuant to
the Securities Purchase Agreement, at the Closing, the Company issued to the Investor the number of
shares of the series of its preferred stock set forth on Schedule A hereto (the “Preferred Shares”)
and a warrant to purchase the number of shares of its common stock set forth on Schedule A hereto
(the “Warrant”).

In connection with the consummation of the repurchase (the “Repurchase”) by the Company from
the Investor, on the date hereof, of the number of Preferred Shares listed on Schedule A hereto
(the “Repurchased Preferred Shares”), as permitted by the Emergency Economic Stabilization Act of
2008, as amended by the American Recovery and Reinvestment Act of 2009:

(a) The Company hereby acknowledges receipt from the Investor of the share certificate
set forth on Schedule A hereto representing the Preferred Shares; and

(b) The Investor hereby acknowledges receipt from the Company of a wire transfer to the
account of the Investor set forth on Schedule A hereto in immediately available funds of the
aggregate purchase price set forth on Schedule A hereto, representing payment in full for
the Repurchased Preferred Shares at a price per share equal to the Liquidation Amount per
share, together with any accrued and unpaid dividends to, but excluding, the date hereof.

The Investor and the Company hereby agree that, notwithstanding Section 4.4 of the Securities
Purchase Agreement, immediately following consummation of the Repurchase, but subject to compliance
with applicable securities laws, the Investor shall be permitted to Transfer all or a portion of
the Warrant or Substitute Warrant (as defined below) with respect to, and/or exercise the Warrant
or Substitute Warrant for, all or a portion of the number of shares of Common Stock issuable
thereunder, at any time and without limitation, and Section 4.4 of the Securities Purchase
Agreement shall be deemed to be amended in order to permit the foregoing. The Company shall take
all steps as may be reasonably requested by the Investor to facilitate any such Transfer.

 

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In addition, the Company agrees that within 15 calendar days of the date hereof the Company
shall either (a) deliver to the Investor a notice of intent to repurchase the Warrant in accordance
with Section 4.9(b) of the Securities Purchase Agreement (the “Warrant Repurchase Notice”), or (b)
issue and deliver to the Investor a new warrant, in substantially the form of the Warrant, except
with the deletion of Section 13(H) thereof, to purchase the number of shares of Common Stock into
which the Warrant is then exercisable (the “Substitute Warrant”), which Substitute Warrant shall be
deemed the “Warrant” for all purposes under the Securities Purchase Agreement.

In the event that the Company delivers a Warrant Repurchase Notice and the Company and the
Investor fail to agree on the Fair Market Value of the Warrant pursuant to the procedures
(including the Appraisal Procedure), and in accordance with the time periods, set forth in Section
4.9(c) of the Securities Purchase Agreement or the Company revokes the delivery of such Warrant
Repurchase Notice, then the Company shall deliver a Substitute Warrant to the Investor within 5
calendar days of the earlier of the failure to agree on the Fair Market Value and the revocation of
the Warrant Repurchase Notice.

Effective as of the date of receipt of the Substitute Warrant, if applicable, the Investor
hereby provides notice, pursuant to Section 4.5(p) of the Securities Purchase Agreement, of its
intention to sell the Substitute Warrant.

This letter agreement will be governed by and construed in accordance with the federal law of
the United States if and to the extent such law is applicable, and otherwise in accordance with the
laws of the State of New York applicable to contracts made and to be performed entirely within such
State.

This letter agreement may be executed in any number of separate counterparts, each such
counterpart being deemed to be an original instrument, and all such counterparts will together
constitute the same agreement. Executed signature pages to this letter agreement may be delivered
by facsimile and such facsimiles will be deemed sufficient as if actual signature pages had been
delivered.

[Remainder of this page intentionally left blank]

 

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In witness whereof, the parties have duly executed this letter agreement as of the date first
written above.

	 	 	 	 	 
	 	 	UNITED STATES DEPARTMENT OF

THE TREASURY
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Herbert M. Allison, Jr.
	 

	 	 	 	 
	 

	 	 	 	Name: Herbert M. Allison, Jr.
	 

	 	 	 	Title: Assistant Secretary for Financial Stability
	 
	 	 	 	 
	 	 	COMPANY:
	 
	 	 	 	 
	 	 	CVB FINANCIAL CORP.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Christopher D. Myers
	 

	 	 	 	 
	 

	 	 	 	Name: Christopher D. Myers
	 

	 	 	 	Title: President & CEO

 

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SCHEDULE A

	 	 	 
	General Information:
	 	 
	 
	 	 
	Date of Letter Agreement incorporating the
	 	December 5, 2008
	Securities Purchase Agreement:
	 	 
	 
	 	 
	Name of the Company:
	 	CVB Financial Corp.
	 
	 	 
	Corporate or other organizational form of the
	 	Corporation
	Company:
	 	 
	 
	 	 
	Jurisdiction of organization of the Company:
	 	California
	 
	 	 
	Number and series of preferred stock issued to
	 	130,000 shares of Series B Fixed Rate Cumulative
	the Investor at the Closing:
	 	Perpetual Preferred Stock
	 
	 	 
	Number of Initial Warrant Shares:
	 	1,669,521
	 
	 	 
	Terms of the Repurchase:
	 	 
	 
	 	 
	Number of Preferred Shares repurchased by the
	 	32,500 shares of Series B Fixed Rate Cumulative
	Company:
	 	Perpetual Preferred Stock
	 
	 	 
	Share certificate number (representing the
	 	PB00002
	Preferred Shares previously issued to the
Investor at the Closing):
	 	 
	 
	 	 
	Per share Liquidation Amount of Preferred Shares:
	 	$1,000 per share
	 
	 	 
	Accrued and unpaid dividends on Preferred Shares:
	 	$76,736.11
	 
	 	 
	Aggregate purchase price for Repurchased
	 	$32,576,736.11
	Preferred Shares:
	 	 
	 
	 	 
	Investor wire information for payment of purchase
	 	Redacted
	price:
	 	 

 

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