Document:

EX-10.C

 Exhibit 10(c) 

SEPARATION AGREEMENT AND RELEASE OF ALL CLAIMS 

Gary L. McArthur 
 The intent of this
Separation Agreement and Release of All Claims (this “Agreement”) is to mutually and finally resolve all matters relating to your employment with and separation from Harris Corporation (“Harris”). All matters
between you and Harris have been settled and you have agreed to enter into a full and binding settlement releasing Harris from any and all liability, except as provided in Section 13 hereof. 

 

	1.	Separation Date. Your employment with Harris will end at close of business on February 28, 2014, (your “Separation Date”). Your last day providing services as Chief Financial Officer
will be February 9, 2014. From that date until your Separation Date (your “Transition Period”), you agree to remain available to facilitate an orderly transition of your responsibilities, including to answer questions, provide
information and perform such other services as reasonably requested. Your employment records will reflect that you are eligible for rehire at Harris. For purposes of post-separation benefits, your separation shall be treated as an involuntary
separation. 

  

	2.	Transition Period Pay; Accrued Rights and Expenses. For services performed during the Transition Period, Harris will continue to pay you your annual base salary at the rate currently in effect (your
“Transition Pay”). The Transition Pay will be paid to you in a lump sum on the Separation Payment Date (as defined in Section 3.) In addition, on the next regularly scheduled pay period following the Separation Date, you will
be paid an amount equal to all accrued, but unpaid salary, and, subject to submission of proper receipts and compliance with expense reimbursement policies, all accrued, but unreimbursed business or travel expenses. 

 

	3.	Separation Pay. As a result of your separation from Harris, you will receive a lump sum amount equal to your current annual base salary of $585,000 (the “Separation Pay”). As set forth in
Section 8, you will also be entitled to a Fiscal Year 2014 Annual Incentive Plan (“AIP”) payout equal to your full Fiscal Year 2014 AIP at target (rather than pro rata and rather than subject to Harris’ financial results
and your individual performance against established goals). But for the application of the six-month delay under Section 409A of the Internal Revenue Code (“Section 409A”) due to your status as a Specified Employee (the
“Specified Employee Requirement”), your Separation Pay would have been paid to you within sixty (60) days following your separation from service. Due to the Specified Employee Requirement, no separation pay may be paid to you
during the period beginning on the date of your separation from service and ending on the date that is six months following the date of your separation from service (or if earlier, on the date of your death). Accordingly, your Separation Pay will be
paid to you in a lump sum on September 2, 2014 (the “Separation Payment Date”) (or if earlier, within ninety (90) days following your death) and will be subject to withholdings and deductions. You acknowledge and agree
that the payment described in this Section 3 is conditional on your timely executing and delivering this Agreement to Harris and not revoking the Release of All Claims set forth herein. 

 

	4.	 Benefits Coverage. Effective as of the close of business on the Separation Date, you will cease to be eligible for the employee benefit
plans, programs and arrangements 

  
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maintained by Harris for its active employees in accordance with the applicable terms thereof. If you participate in the Medical, Dental, or Vision Care Plans, you will be offered the opportunity
to elect continued coverage for yourself and your qualifying dependents in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Harris will pay all premiums otherwise due under such plans for a
period of up to twelve (12) months following the Separation Date. Following such twelve (12) month period, you may continue coverage for the remainder of the COBRA period at the full monthly cost plus a 2% administrative fee. If you do not
elect COBRA, your healthcare benefits and participation will end on the Separation Date. 

  

	5.	Vacation Pay and Incidentals. As soon as practicable but no later than thirty (30) days following the Separation Date, Harris will pay you in a lump sum for any unused accrued vacation time as of your
Separation Date, it being agreed that such amount is $112,500. In addition, Harris will pay you an additional $25,000 to cover incidental expenses in connection with your separation, $17,500 of which will be paid no later than thirty
(30) days following the Separation Date and the remaining $7,500 will be paid to you on the Separation Payment Date. 

  

	6.	Retirement Plan Participation. Benefit accruals and contributions under the Retirement Plan and Supplemental Executive Retirement Plan, including matching contributions, will end as of the Separation Date;
provided, however, that your deferral elections with respect to (i) the lump sum payment to you pursuant to Section 5 of this Agreement with respect to unused accrued vacation; and (ii) compensation payable to you pursuant to the
Fiscal Year 2014 AIP as described in Section 8 of this Agreement, shall remain in full force and effect. 

  

	7.	Performance Reward Plan (PRP). The timing and amount of payment owed to you under the Fiscal Year 2014 PRP will be governed by the terms and conditions of that plan. Payment, if any, will be based on your
Fiscal Year 2014 eligible earnings and will be made in September 2014. The Separation Pay you receive pursuant to this Agreement is not considered eligible earnings for purposes of the PRP. 

 

	8.	Annual Incentive Plan. In lieu of a pro-rated Fiscal Year 2014 AIP payout subject to Harris’ financial results and your individual performance against established goals, you will receive a Fiscal Year
2014 AIP payment equal to your full $417,000 Fiscal Year 2014 AIP at target. The timing of such payment will be governed by the terms and conditions of the AIP but in no event will such payment be made earlier than the Separation Payment Date.

  

	9.	Stock Options. The vesting (if any) and exercisability of the stock options you hold as of the Separation Date will be governed by the terms of the applicable Harris Equity Incentive Plan(s) and terms and
conditions thereunder in effect at the time of the grant. You will have ninety (90) days from the Separation Date to exercise vested options. Options not vested as of the Separation Date will be forfeited. 

 

	10.	 Performance Unit Awards. Your outstanding performance unit awards which you hold as of the Separation Date will be governed by the terms
of the applicable Harris Equity Incentive Plan(s) and terms and conditions thereunder in effect at the time of grant. The performance unit awards for the Fiscal 2012-2014 and Fiscal 2013-2015 cycles granted to you will be pro-rated through your
Separation Date, and final payout of such performance unit awards shall remain subject to adjustment for Harris’ financial performance and to the extent payable, such awards will be settled in shares, less applicable withholdings, in September
following the end of the applicable performance period. The performance unit 

  
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award granted to you for the Fiscal 2014-2016 cycle will not satisfy the minimum one year vesting period and will be forfeited. 

 

	11.	Restricted Unit Awards. Your outstanding restricted unit award which you hold as of the Separation Date will, notwithstanding your separation and the terms and conditions initially applicable to such
award, remain outstanding and eligible to vest, as if you had remained employed by Harris, as of the completion of the applicable restricted period. Except as modified by the provisions of this Section 11, such award will continue to be
governed by the applicable Harris Equity Incentive Plan and terms and conditions thereunder in effect at the time of the grant. Such award will be settled in shares following the end of the applicable restricted period. 

 

	12.	Outplacement Assistance. You will be eligible for a twelve (12) month executive outplacement program (the “Program”) administered by Right Management Associates. Participation in the
Program is voluntary, but must be elected by March 15, 2014. If you do not elect to participate in the Program, you will not receive cash in lieu thereof. 

  

	13.	No Further Benefits. Unless otherwise expressly provided herein or pursuant to applicable employee compensation or benefit arrangements, you will not be entitled to any pay, compensation, severance,
insurance, or employment benefits from Harris after the Separation Date. You acknowledge and agree that the payments and benefits specified under this Agreement satisfy in their entirety any and all obligations of Harris to you under your Offer
Letter, the Harris Corporation Severance Pay Plan, or any other severance program, policy or arrangement maintained by Harris or otherwise; provided, however, that nothing contained in this Agreement shall
(i) release your rights to any benefits under the 401(k) Plan or with respect to the right to elect health care continuation under COBRA, (ii) release any entitlement to or with respect to indemnification which you may have pursuant to
Harris’ bylaws, any policy of insurance maintained by Harris or otherwise under law, or (iii) be construed to release your rights under this Agreement or be construed to prohibit or restrict you in any manner from bringing appropriate
proceedings to enforce this Agreement. 

  

	14.	Executive Change in Control Severance and Indemnification Agreements; Resignation from Office. You acknowledge that effective as of the Separation Date, based on this Agreement and the consideration you
receive pursuant hereto, and notwithstanding any provision therein to the contrary, the Amended and Restated Executive Change in Control Severance Agreement between you and Harris dated December 23, 2008 (the “Change in Control
Severance Agreement”) and the Indemnification Agreement between you and Harris dated November 1, 2012 (the “Indemnification Agreement”) are terminated in their entirety by mutual agreement and no longer have any force
or effect. Notwithstanding the foregoing, obligations of Harris under the Indemnification Agreement with respect to your activity prior to the Separation Date shall continue in accordance with Section 26 of the Indemnification Agreement. You
agree that no later than the Separation Date you will resign from any offices, directorships, trusteeships, committee memberships or other positions you hold with Harris or any of its affiliates. You agree to execute any documents provided by Harris
to effectuate your resignation from such offices, directorships, trusteeships, committee memberships or other positions. 

  

	15.	Releasees. For purposes of this Agreement, “Releasees” include Harris and its subsidiaries and affiliated companies and their officers, directors, shareholders, employees, agents,
representatives, plans, trusts, administrators, fiduciaries, insurance companies, successors, and assigns. 

  
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	16.	Release of All Claims. You, on behalf of yourself and your personal and legal representatives, heirs, executors, successors and assigns, hereby acknowledge full and complete satisfaction of, and fully and
forever waive, release, and discharge Releasees from, any and all claims, causes of action, demands, liabilities, damages, obligations, and debts (collectively referenced as “Claims”), of every kind and nature, whether known or
unknown, suspected or unsuspected, that you hold as of the date you sign this Agreement, or at any time previously held, against any Releasee arising out of any matter whatsoever (except for breach of this Agreement). This release specifically
includes, but is not limited to, any and all Claims: 

  

	 	a.	Arising out of or in any way related to your employment with or separation from Harris, or any contract or agreement between you and Harris, except as provided in Section 13 hereof; 

 

	 	b.	Arising under or based on: the Equal Pay Act of 1963 (EPA); Title VII of the Civil Rights Act of 1964 (Title VII); Section 1981 of the Civil Rights Act of 1866 (42 U.S.C. §1981); the Civil Rights Act of 1991
(42 U.S.C. §1981a); the Americans with Disabilities Act of 1990 (ADA); the Family and Medical Leave Act of 1993 (FMLA); the Genetic Information Nondiscrimination Act of 2008 (GINA); the National Labor Relations Act (NLRA); the Worker Adjustment
and Retraining Notification Act of 1988 (WARN); the Uniform Services Employment and Reemployment Rights Act (USERRA); the Rehabilitation Act of 1973; the Occupational Safety and Health Act (OSHA); the Employee Retirement Income Security Act of 1974
(ERISA) (except claims for vested benefits, if any, to which you are legally entitled); the False Claims Act; Title VIII of the Corporate and Criminal Fraud and Accountability Act (18 U.S.C. §1514A) (Sarbanes-Oxley Act); the federal
Whistleblower Protection Act and any state whistleblower protection statute(s); the Florida Civil Rights Act or any other fair employment practice statute(s) of any state, in each case as amended from time to time; 

 

	 	c.	Arising under or based on any other federal, state, county or local law, statute, ordinance, decision, order, policy or regulation prohibiting employment discrimination; providing for the payment of wages or benefits
(including overtime and workers’ compensation); or otherwise creating rights or claims for employees, including, but not limited to, any and all claims alleging breach of public policy; the implied obligation of good faith and fair dealing; or
any express, implied, oral or written contract, handbook, manual, policy statement or employment practice; or alleging misrepresentation; defamation; libel; slander; interference with contractual relations; intentional or negligent infliction of
emotional distress; invasion of privacy; assault; battery; fraud; negligence; harassment; retaliation; or wrongful discharge; and 

  

	 	d.	Arising under or based on the Age Discrimination in Employment Act of 1967 (“ADEA”), as amended by the Older Workers Benefit Protection Act (“OWBPA”), and alleging a violation thereof
by any Releasee, at any time on or prior to the date this Agreement is executed. 

  

	17.	 Filing an Action Despite Release. You agree that you will not file a civil action, lawsuit or administrative proceeding against any
Releasee with respect to any of the Claims released herein (this does not include claims which, by law, cannot be waived). This provision prohibits you from recovering monetary or other relief in any legal proceeding brought by you or on your
behalf, but does not apply to or limit your right to initiate or participate in an EEOC or other administrative proceeding in which you do not seek 

  
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personal relief. This provision also does not preclude you from bringing suit to challenge the validity or enforceability of this Agreement under the ADEA, as amended by the OWBPA.

  

	18.	Return of Property. You agree that, no later than your Separation Date, you will return to Harris all company information and property, in whatever form, including but not limited to laptop, phone,
tablets, documents, records, reports, notebooks, drawings, photographs, technical data, credit cards, keys, equipment, computer software, supplies, or other information or property containing confidential or proprietary information of Harris or its
affiliates, and you agree that you will not retain copies of same. You further certify that, no later than the Separation Date, you will permanently delete from your personal computers, tablets or storage devices any and all confidential or
proprietary documents and/or information relating to Harris and its subsidiaries and affiliates. 

  

	19.	Confidentiality. You acknowledge that (i) while employed by Harris, you have had access to and/or acquired and assisted in the development of confidential and proprietary information, inventions, and
trade secrets relating to the present and anticipated business and operations of Harris and its affiliates which is not generally known to the public, including without limitation: research projects; manufacturing processes; sales and marketing
methods; business opportunities; marketing plans; sales forecasts and product plans; distributor and customer pricing information; personnel data regarding employees of Harris and its affiliates, including salaries; and other information of a
similar confidential nature not available to the public (collectively, “Confidential Information”); and (ii) such Confidential Information has been disclosed to you in confidence and only for the use of Harris. You agree that
at all times following the Separation Date, you shall keep secret and retain in strictest confidence, and shall not use or disclose, directly or indirectly, any Confidential Information; provided, however, that nothing in this Agreement shall
prevent you from disclosing Confidential Information (i) that becomes publicly available other than as a result of a breach of this Agreement or (ii) in response to any subpoena or court order, provided, however, that prior to making any
such disclosure, you shall provide Harris with written notice of the subpoena, court order or similar legal process sufficiently in advance of such disclosure to afford Harris a reasonable opportunity to challenge the subpoena, court order or
similar legal process. The provisions of this Section 19 hereby supersede and amend the confidentiality restrictions contained in the equity awards granted to you by Harris on August 22, 2013 or in any other confidentiality agreement or
agreement containing confidentiality provisions entered into between you and Harris. 

  

	20.	 Non-Solicitation. In consideration of the benefits and payments to be made to you under this Agreement and for other good and
valuable consideration, the receipt and sufficiency of which you hereby acknowledge, commencing on the date hereof and continuing through February 28, 2015, you shall not, in any manner, directly or indirectly (without the prior written consent
of an authorized executive officer of Harris): (i) “Solicit” (as hereinafter defined) any “Customer” (as hereinafter defined) to transact business with a Competitive Enterprise or to reduce or refrain from doing any business
with Harris or any of its subsidiaries, (ii) transact business with any Customer that would cause you to be engaged in or be associated with a Competitive Enterprise, (iii) interfere with or damage any business relationships of Harris or
its subsidiaries, including, but not limited to, any relationships between Harris or its subsidiaries and a Customer (as defined below), (iv) Solicit anyone who is then an employee of Harris or any of its subsidiaries (or who was an employee of
Harris or any of its subsidiaries within the prior 12 months) to resign from Harris or any of its subsidiaries or to apply for or accept employment with any other business or enterprise, or (v) Solicit for employment or personally hire any
anyone who is then an employee of Harris or any of its subsidiaries (or who was an employee of Harris or 

  
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any of its subsidiaries within the prior 12 months other than any employee whose employment was involuntarily terminated by Harris at least six months prior to such solicitation or hiring). For
purposes of this Agreement, a “Customer” means any customer or prospective customer of Harris or its subsidiaries whose identity became known to you in connection with your relationship with or employment by Harris or its
subsidiaries, and “Solicit” means any direct or indirect communication of any kind, regardless of who initiates it, that in any way invites, advises, encourages or requests any person to take or refrain from taking any action. The
provisions of this Section 20 hereby supersede and amend any other non-solicit agreement(s), or agreements containing non-solicit provisions, between you and Harris, including but not limited to: (i) your Employee Agreement, which you
signed on October 20, 2012, and (ii) the terms and conditions of equity awards granted to you after July 3, 2010. 

  

	21.	Non-Disparagement. You agree that, from and after the Separation Date, you will not directly or indirectly (either through your own efforts or through the efforts of any third person) make or publish, or
cause to be made, any statement, observation or opinion, whether oral or written, that (a) criticizes, disparages, defames, or otherwise impugns the character, integrity or reputation of any of the Releasees or Harris’ products or
services; or (b) accuses or implies that Harris or any of the Releasees engaged in any wrongful, unlawful or improper conduct, whether relating to your employment with Harris (or the termination thereof), the business or operations of Harris,
or otherwise. Harris agrees that it shall instruct each member of its executive committee to not, directly or indirectly (either through such person’s own efforts or through the efforts of any third person) make or publish, or cause to be made,
any statement, observation or opinion, whether oral or written, to a third party that (a) criticizes, disparages, defames, or otherwise impugns your character, integrity or reputation or (b) accuses or implies that you engaged in any
wrongful, unlawful or improper conduct, whether relating to your employment with Harris (or the termination thereof), the business or operations of Harris, or otherwise. The above shall not preclude you or Harris from providing truthful testimony in
response to legal subpoena or as required by law, provided that the other party is given notice of such subpoena and that you or Harris, as appropriate, reasonably cooperates with the other party in any action you or Harris may bring to limit or
restrict the scope of the disclosure. The provisions of this Section 21 hereby supersede and amend the non-disparagement restrictions contained in the equity awards granted to you by Harris on August 22, 2013 and any other
non-disparagement agreements or agreements containing non-disparagement provisions between you and Harris 

  

	22.	 Non-Competition. In consideration of the benefits and payments to be made to you under this Agreement and for other good and valuable
consideration, the receipt and sufficiency of which you hereby acknowledge, commencing on the date hereof and continuing through February 28, 2015, you shall not, directly or indirectly (without Harris’ prior written consent):
(i) hold a five percent (5%) or greater equity (including stock options, whether or not exercisable), voting or profit participation interest in a “Competitive Enterprise” (as hereinafter defined), or (ii) associate
(including as a director, officer, employee, partner, consultant, agent or advisor) with a Competitive Enterprise and in connection with your association engage, or directly or indirectly manage or supervise personnel engaged, in any activity:
(A) that is substantially related to any activity that you were engaged in with Harris or its subsidiaries during the 12 months prior to the Separation Date, (B) that is substantially related to any activity for which you had direct or
indirect managerial or supervisory responsibility with Harris or its subsidiaries during the 12 months prior to the Separation Date, (C) that calls for the application of specialized knowledge or skills substantially related to those used by
you in your activities with Harris or its subsidiaries, or (D) that involves any customer or business relationship you 

  
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developed during your employment with Harris or any of its subsidiaries. “Competitive Enterprise” means any business enterprise that either (i) engages in any activity conducted
anywhere in the world which is the same as, similar to or otherwise competitive with one or more of the following Harris business units: (A) RF Communication, including the U.S. Department of Defense and International Tactical Communications;
(B) Public Safety and Professional Communications; (C) IT Services; (D) Managed Satellite and Terrestrial Communications Solutions; (E) Healthcare Solutions; (F) Civil Programs; (G) Defense Programs; or
(H) National Intelligence Programs (however such units may be subsequently denominated or reorganized), or (ii) holds a five percent (5%) or greater, equity, voting or profit participation interest in any enterprise that engages in
such activity. Notwithstanding the foregoing, nothing contained in this Section 22 shall prohibit you from associating (including as a director, officer, employee, partner, consultant, agent or advisor) with a Competitive Enterprise, provided
that you are not engaged or any way involved in, have no direct or indirect managerial or supervisory authority over, and have no access to confidential or proprietary information in any way relating to any activities conducted by such Competitive
Enterprise that competes (in products or services) directly or indirectly with any of the business units described in this Section 22. The provisions of this Section 22 hereby supersede and amend the non-competition restrictions contained
in the equity awards granted to you by Harris on August 22, 2013 or any other non-competition agreement or agreement containing non-competition provisions between you and Harris. 

 

	23.	Breach of Agreement. If you file or permit to be filed any civil action, lawsuit, or administrative proceeding against any Releasee seeking personal legal or equitable relief in connection with any matter
relating to your employment with or separation from Harris, or otherwise breach a provision of this Agreement, in addition to any other rights, remedies, or defenses Harris or the other Releasees may have, Harris may: (1) immediately terminate
this Agreement, if still in effect, without further obligation or liability to you of any kind; (2) recover from you the aggregate dollar value of all pay, insurance, and other benefits provided to you following the Separation Date; and
(3) recover from you all damages, costs and expenses, including reasonable attorneys’ fees and costs, incurred by Harris or the other Releasee(s) in defending such civil action, lawsuit or administrative proceeding or in connection with
such breach. You further agree that any breach or threatened breach by you, intentional or otherwise, of the non-solicitation, non-competition or other provisions of this Agreement, including Sections 19, 20, 21, and 22 will entitle Harris, in
addition to other available remedies, to a temporary or permanent injunction or any other appropriate degree of specific performance (without bond or security being required) in order to enjoin such breach or threatened breach. 

 

	24.	No Admission of Liability. By entering into this Agreement, Harris does not admit to, and expressly denies, any liability or wrongdoing. In addition, you acknowledge and agree that this Agreement may not
be used as evidence to claim or prove any alleged wrongdoing by Harris, other than failure to comply with the terms of this Agreement. 

  

	25.	Acknowledgement of ADEA Rights. You acknowledge as follows: 

  

	 	a.	You are advised to consult with an attorney or other representative of your choice prior to signing this Agreement; 

  

	 	b.	By executing this Agreement, you waive all rights or claims, if any, that you have or may have against any Releasee under the ADEA, as amended by the OWBPA, and under any state or local laws prohibiting age
discrimination; 

  
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	 	c.	You are waiving rights and claims that you may have under the ADEA in exchange for consideration that is additional to anything of value to which you are already entitled; 

 

	 	d.	You are not waiving rights and claims that you may have under the ADEA that may arise after the date this Agreement is signed; 

  

	 	e.	You fully understand this Agreement and are signing it voluntarily and of your own free will; 

  

	 	f.	You received this Agreement on or prior to your Separation Date, and you have up to 21 calendar days from that date to consider whether to sign it; 

 

	 	g.	If you wish to sign this Agreement prior to the expiration of the 21-day period explained above, you may do so; 

  

	 	h.	You have 7 calendar days following the date you sign this Agreement to revoke your release of claims under the ADEA, and your release of such claims will not become effective until the revocation period has
expired without your revoking it (at which time it will become fully enforceable and irrevocable); and 

  

	 	i.	To revoke your release of claims under the ADEA, you must deliver to Harris (via both U.S. mail and facsimile), within the 7-day revocation period, a signed written statement that you revoke your release of
claims under the ADEA. The revocation must be postmarked within the period stated above and addressed to: 

  

	
	Robert L. Duffy
	Senior Vice President, Human Resources and Administration
	Harris Corporation
	1025 W. NASA Blvd.
	Melbourne, Florida 32919
	Facsimile No. 321-409-4377

 If you revoke your release of claims under the ADEA, you understand that you will not be entitled to
receive the separation pay and other benefits described in this Agreement. 
  

	26.	Section 409A. This Agreement will be interpreted and construed in a manner that avoids the imposition of taxes and other penalties under Section 409A (“409A Penalties”). In the
event that the terms of this Agreement provide deferred compensation within the meaning of Section 409A and do not comply with such section and regulations promulgated thereunder, the parties will cooperate diligently to amend the terms of this
Agreement to avoid 409A Penalties, to the extent possible. In addition, in the event that the terms of this Agreement provide deferred compensation within the meaning of Section 409A, each payment of separation pay or other amount, or provision
of benefits, pursuant to this Agreement will constitute a “separately identified” amount within the meaning of Treasury Reg. §1.409A-2(b)(2). Notwithstanding the foregoing, no particular tax result with respect to any income
recognized in connection with this Agreement is guaranteed, and under no circumstances will Harris be responsible for any taxes, penalties, interest or other losses or expenses incurred by you due to any failure to comply with Section 409A
other than Harris’ failure to comply with the terms and conditions of the applicable plan that is otherwise subject to Section 409A. 

  
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	27.	Entire Understanding. This Agreement constitutes the entire agreement between you and Harris with respect to the subjects addressed herein. However, this Agreement is not intended to supersede the
assignment of inventions provisions of your Harris Employee Agreement dated October 20, 2012, a copy of which has been provided to you. 

  

	28.	Withholding. Notwithstanding any other provision of this Agreement, Harris may withhold from amounts payable under this Agreement all amounts that are required to be withheld, including, but not limited
to, federal, state, local and foreign taxes to be withheld by applicable laws or regulations. 

  

	29.	Successors and Assigns. This Agreement will be binding in all respects upon, and will inure to the benefit of, the parties’ representatives, heirs, executors, successors, and assigns.

  

	30.	Governing Law. The validity and interpretation of this Agreement will be governed by Florida law without giving effect to principles of conflicts of law. The parties stipulate that jurisdiction and venue
will lie exclusively in Brevard County, Florida or the United States District Court for the Middle District of Florida for any action involving the validity, interpretation and enforcement of this Agreement, for any claim for breach of this
Agreement, and for damages or any other relief sought under this Agreement. 

  

	31.	Severability. In the event that any provision of this Agreement is found to be partially or wholly invalid, illegal or unenforceable, the parties agree that such provision shall be modified or restricted
as necessary to render it valid, legal and enforceable. It is expressly understood and agreed that such modification or restriction may be accomplished by mutual accord between the parties or, alternatively, by disposition of a court. The parties
further agree that if such provision cannot under any circumstances be so modified or restricted, it shall be excised from this agreement without affecting the validity, legality or enforceability of any of the remaining provisions.

  

	32.	Preparation of Agreement. This Agreement will be interpreted in accordance with the plain meaning of its terms and not strictly for or against any of the parties hereto. Regardless of which party initially
drafted this Agreement, it will not be construed against any one party, and will be construed and enforced as a mutually-prepared document. 

  

	33.	Burden of Proof. Any party contesting the validity or enforceability of any term of this Agreement will be required to prove by clear and convincing evidence fraud, concealment, failure to disclose
material information, unconscionability, misrepresentation, or mistake of fact or law. 

  

	34.	Counterparts. This Agreement may be executed in counterparts or by copies transmitted electronically, all of which have the same force and effect as the original. 

[Signature Page Follows] 

  
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 PLEASE READ AND CAREFULLY CONSIDER THIS AGREEMENT BEFORE SIGNING IT. THIS AGREEMENT CONTAINS A RELEASE OF ALL
KNOWN AND UNKNOWN CLAIMS, INCLUDING BUT NOT LIMITED TO THOSE MADE UNDER FEDERAL, STATE, AND/OR LOCAL LAWS PROHIBITING DISCRIMINATION IN EMPLOYMENT, TO THE EXTENT PERMITTED BY LAW. 

YOU AFFIRM AND ACKNOWLEDGE THAT, EXCEPT AS OTHERWISE PROVIDED HEREIN, HARRIS HAS PAID YOU ANY AND ALL WAGES, BONUSES, COMMISSIONS, INCENTIVES, SEVERANCE PAY,
AND/OR VACATION PAY OWED TO YOU AS A RESULT OF YOUR EMPLOYMENT BY HARRIS, AND YOU AGREE THAT NO SUCH FURTHER PAYMENTS OR AMOUNTS ARE OR WILL BE OWED. 

Agreed to: 
  

							
	Employee:	 	 	 	Harris Corporation
				
	 /s/ Gary L. McArthur
	 		 	By:	 	 /s/ Robert L. Duffy

	Signature	 		 	Name:	 	Robert L. Duffy
		 		 	Title:	 	Senior Vice President
		 		 		 	Human Resources and Administration
				
	 Gary L. McArthur
	 		 	Date:	 	February 12, 2014
	Print Name	 		 		 	

  

			
	Date:	 	February 12, 2014

  
 Page 10 of 10EX-10.1

 Exhibit 10.1 

AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT 

THIS AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of the 28th day of April, 2014
(the “Effective Date”), by and between Provectus Biopharmaceuticals, Inc., a Delaware corporation (the “Company”), and H. Craig Dees, a resident of Knoxville, Tennessee (“Employee”). 

WHEREAS, the Company is a development-stage biopharmaceutical company that is primarily engaged in the business of developing prescription
drug candidates PV-10 and PH-10, which are ethical pharmaceuticals for treatment of cancers and chronic severe skin afflictions such as psoriasis and atopic dermatitis, a type of eczema. For purposes of this Agreement, and specifically the
restrictive covenants set forth herein, the aforementioned activities and all related activities, of whatever nature, either being performed or planned by the Company during any part of the term of this Agreement are to be considered as part of
“the Business” protected by this Agreement (sometimes also referred to as “the Company’s Business”); 

WHEREAS, the Company and Employee previously entered into that certain Executive Employment Agreement, dated as of July 1, 2013 (the
“Prior Agreement”); 
 WHEREAS, the Company desires to continue to retain Employee as its Chief Executive Officer, and
Employee desires to be so employed by the Company, subject to the terms, conditions and covenants hereinafter set forth; and 
 WHEREAS, the
Company and Employee desire to amend and restate the Prior Agreement to set forth the terms and conditions pursuant to which the Company will continue to retain Employee as its Chief Executive Officer. 

AGREEMENT 
 NOW,
THEREFORE, for and in consideration of the premises, and the agreements, covenants, representations and warranties hereinafter set forth, and other good and valuable consideration, the receipt and adequacy all of which are forever acknowledged and
confessed, the parties hereto hereby agree as follows as of the Effective Date: 
 Section 1. Employment. In reliance on the representations and
warranties made herein, the Company hereby agrees to retain Employee to be its Chief Executive Officer, to perform services relating to ensuring that the financial and business operations conform with the Company’s overall corporate strategy,
and to perform such duties and services that are consistent with the position of Chief Executive Officer as may from time to time be assigned to Employee by the Company’s Board of Directors (the “Board”). 

Section 2. Performance. Employee shall use Employee’s best efforts and skills, on a full-time basis, to perform the duties of his employment,
as they may be established from time to time by the Board, consistent with the position and office of Chief Executive Officer occupied by the Employee. Employee shall obey all rules and regulations of the Company, follow all laws and regulations of
appropriate government authorities, and be governed by any and all decisions and instructions of the Board. 

 Section 3. Compensation. Except as otherwise provided for herein, for all services to be performed by
Employee in any capacity hereunder, including without limitation any services as an officer, director, member of any committee, or any other duties assigned him, throughout the Employment Period (as defined herein), the Company shall pay or provide
Employee with the following, and Employee shall accept the same, as compensation for the performance of his undertakings and the services to be rendered by him: 

(a) Base Salary. Employee will be entitled to an annual gross salary of Five-Hundred Thousand Dollars and no cents ($500,000.00) (the
“Base Salary”), which shall be paid in accordance with the Company’s policies and procedures. Any and all increases to Employee’s Base Salary shall be determined by the Compensation Committee of the Company’s Board of
Directors (the “Committee”) in its sole discretion. 
 (b) Bonus. In addition to the Base Salary,
prior to the end of each fiscal year, Employee shall be eligible to receive an annual bonus (the “Annual Bonus”) based upon achievement of performance criteria established by the Committee; provided,
however, that the performance criteria required to be satisfied before any Annual Bonus may be paid, and the amount and terms of any Annual Bonus based upon the extent to which those performance criteria are achieved or exceeded
shall be determined by the Committee in its sole discretion. 
 (c) Equity Awards. With respect to each fiscal year of
the Company ending during the Employment Period, Employee shall be eligible to receive an annual equity incentive award upon the terms and conditions as determined in the sole discretion of the Committee. 

(d) Benefit Plans. Employee shall receive, subject to the applicable plan, contract, policy or agreement terms, the benefit of all
available employee benefit plans, policies, practices, and arrangements, as may be offered by the Company from time to time, including without limitation any stock option or equity plan, defined benefit retirement plan, excess or supplementary plan,
profit sharing plan, savings plan, health and dental plan, disability plan, survivor income and life insurance plan, executive financial planning program, other arrangement, or any successors thereto (collectively hereinafter referred to as the
“Benefit Plans”). Employee’s eligibility and entitlement to any compensation or benefit shall be determined in accordance with the terms and conditions of the Benefit Plans and other applicable programs, practices, and
arrangements then in effect. 
 (e) Vacation and Fringe Benefits. The Employee will be entitled to paid vacations in accordance with
policies adopted by the Company with regard to its executives generally. All fringe benefits and perquisites will be in accordance with the Company’s existing policies, and the same may be amended from time to time, in the Company’s
discretion. 
 (f) Withholding Taxes. The Company shall have the right to deduct from all payments made to Employee hereunder any
federal, state, or local taxes required by law to be withheld. 
 (g) Expenses. During Employee’s employment, the Company shall
promptly pay or reimburse Employee for all reasonable out-of-pocket expenses incurred by Employee in the performance of his duties hereunder in accordance with the Company’s policies and procedures then
in effect. Such policies will be subject to change in the Company’s discretion. 

  
 2 

 Section 4. Restrictions. 

(a) Acknowledgements. Employee acknowledges and agrees that during the term of Employee’s employment because of the nature of
Employee’s responsibilities and the resources provided by the Company: (1) Employee will acquire valuable and confidential skills, information, trade secrets, and relationships with respect to the Company’s business practices and
operations; (2) Employee may develop on behalf of the Company a personal acquaintance and/or relationship with various persons, including, but not limited to, customers and suppliers, which acquaintances may constitute Employee’s only
contact with such persons, and, as a consequence of the foregoing, (3) Employee will occupy a position of trust and confidence with respect to the Company’s affairs and the Business involved, as described earlier, throughout the entire
world; (4) the Company’s competitors, both in the United States and internationally, consist of both domestic and international businesses, and the services to be performed by Employee for the Company involve aspects of both the
Company’s domestic and international business; and (5) it would be impossible or impractical for Employee to perform his duties for the Company without access to the Company’s confidential and proprietary information and contact with
persons that are valuable to the goodwill of the Company. Therefore, Employee acknowledges that if he went to work for or otherwise performed services for a third party engaged in a business similar to the Business of the Company, the disclosure by
Employee to a third party of such confidential and proprietary information and/or the exploitation of such relationships would be inevitable. 

(b) Reasonableness. In view of the foregoing and in consideration of the remuneration to be paid to Employee, Employee agrees that it
is reasonable and necessary for the protection of the goodwill and business of the Company that Employee make the covenants contained in this Agreement regarding the conduct of Employee during and subsequent to Employee’s employment by the
Company, and that the Company will suffer irreparable injury if Employee engages in conduct prohibited by this Agreement. 
 (c)
Non-Compete. During the term of Employee’s employment by the Company, and for a period of twenty-four (24) months following termination of employment, in the event that Employee voluntarily terminates his employment with the Company
other than for Good Reason (as defined below) or Employee is terminated for Cause (as defined below), neither Employee nor any other person or entity with Employee’s assistance, shall manage, operate, control, be employed by, solicit sales for,
participate in, advise, consult with, or be connected with the ownership, management, operation, or control of any business within the United States which is engaged, in whole or in part, in any business that is directly competitive with the
Company’s Business or any portion thereof. 
 (d) No Solicitation. In addition, during the term of Employee’s employment by
the Company, and for a period of twenty-four (24) months following termination of employment, in the event that Employee voluntarily terminates his employment with the Company or Employee is terminated for Cause, neither Employee nor any person
or entity with his assistance nor any entity which Employee or any person with his assistance or any person who he directly or 

  
 3 

 
indirectly controls shall, directly or indirectly, (1) solicit or take any action to induce any employee of the Company to quit or terminate their employment with the Company or the
Company’s affiliates, or (2) employ as an employee, independent contractor, consultant, or in any other position, any person who was an employee of the Company or the Company’s affiliates within the preceding six months, provided
that this paragraph will not prevent the Employee or any other person or entity from providing employment to a person who applied for the employment in response a job listing that was not directed primarily at employees or former employees of
the Company. 
 (e) Confidentiality. Without the express written consent of the Company, Employee shall not at any time (either
during or after the termination of Employee’s employment) use (other than for the benefit of the Company) or disclose to any other business entity proprietary or confidential information concerning the Company, any of their affiliates, or any
of its officers. Neither shall Employee disclose any of the Company’s or the Company’s affiliates’ trade secrets or inventions of which Employee has gained knowledge during his employment with the Company. This paragraph shall not
apply to any such information that: (1) Employee is required to disclose by law; (2) has been otherwise disseminated, disclosed, or made available to the public; or (3) was obtained after his employment with the Company ended and from
some source other than the Company, which source was under no obligation of confidentiality of which the Employee is aware. 
 (f) Effect
of Breach. Employee agrees that a breach of any obligation in this Section 4 cannot adequately be compensated by money damages and, therefore, the Company shall be entitled, in addition to any other right or remedy available to it
(including, but not limited to, an action for damages), to an injunction restraining such breach or a threatened breach and to specific performance of such provisions, and Employee hereby consents to the issuance of such injunction and to the
ordering of specific performance, without the requirement of the Company to post any bond or other security. 
 (g) Other Rights
Preserved. Nothing in this Section 4 eliminates or diminishes rights which the Company may have with respect to the subject matter hereof under other agreements, the governing statutes, or under provisions of law, equity, or otherwise.
Without limiting the foregoing, this section does not limit any rights the Company may have under any agreement with Employee regarding trade secrets and confidential information. 

Section 5. Termination. This Agreement shall terminate upon the following circumstances: 

(a) General. This Agreement shall be effective as of the Effective Date and shall terminate on the fifth anniversary following the
Effective Date, unless terminated earlier as provided hereunder (the “Employment Period”); provided, however, that this Agreement shall be automatically renewed for successive one (1) year periods, unless Employee or the
Company notifies the other in writing at least 120 days prior to the termination date of the Agreement of the party’s intent not to renew this Agreement, in which event this Agreement shall terminate on the termination date. 

  
 4 

 (b) Termination for Good Reason. This Agreement, and the Employee’s employment under
it, may be terminated by the Employee at any time for Good Reason (as that term is defined in Section 6(c)). 
 (c) Termination
Without Cause. This Agreement, and the Employee’s employment under it, may be terminated by the Company without Cause but subject to the provisions of this Agreement. It is expressly understood that Employee’s employment is strictly
“at will.” 
 (d) Cause. This Agreement may be terminated at any time by the Company for Cause. “Cause” for this
purpose shall mean (i) Employee committing a material breach of this Agreement and failing to cure that breach, or to discontinue the activity that is breaching this Agreement, within 30 days after being notified by the Company that failure to
cure the breach or to discontinue the breaching activity will result in termination of this Agreement for Cause, or (ii) conviction of the Employee of a crime involving moral turpitude, including such acts as fraud or dishonesty, or
(iii) the commission by the Employee of a felony, or (iv) Employee willfully or recklessly refusing to perform the material duties reasonably assigned to him by the Company’s Board that are consistent with the provisions of this
Agreement, when such willful or reckless refusal does not result from a Disability, or (v) Employee’s continued willful or gross malfeasance or nonfeasance of the material duties reasonably assigned to him by the Company’s Board that
are consistent with the provisions of this Agreement, when such malfeasance or nonfeasance does not result from a Disability. 
 (e)
Death/Disability. This Agreement may be terminated by the Company upon Employee’s death or his being unable to render the services required to be rendered by him during the Employment Period for a period of one hundred eighty
(180) days during any twelve-month period (“Disability”). 
 (f) Implied Covenant of Good Faith and Fair
Dealing. The parties acknowledge that the State of Tennessee recognizes that an implied covenant of good faith and fair dealing is a part of every contract, even an employee at will contract. Although such covenant cannot change the express
terms of this contract, such covenant applies to this contract. 
 Section 6. Effect of Termination. 

(a) If Employee’s employment is terminated (i) voluntarily by Employee without Good Reason, or (ii) by the Company for Cause,
the Company shall pay Employee’s compensation only through the last day of the Employment Period and, except as may otherwise be expressly provided in this Agreement or in any Benefit Plan, the Company shall have no further obligation to
Employee. 
 (b) If Employee’s employment is terminated by the Company other than for Cause, including any discharge without Cause,
liquidation or dissolution of the Company (other than due to bankruptcy), discharge within six (6) months following a Change of Control (as defined below), or a termination caused by death or Disability, or if Employee voluntarily resigns for
Good Reason, for so long as Employee is not in breach of his continuing obligations under Section 4, the Company shall continue to pay Employee (or his estate) an amount equal to his Base Salary in effect immediately prior to the termination of
his employment for a period of 

  
 5 

 
twenty-four (24) months, to be paid in accordance with the Company’s regular payroll practices through the end of the fiscal year in which termination occurs and then in one lump sum
payable to Employee in the first month of the fiscal year following termination, as well as pro rated bonuses based upon the bonuses paid with regard to the prior fiscal year, plus benefits on a substantially equivalent basis to those which would
have been provided to Employee in accordance with the Benefit Plans described in Section 3(d) of this Agreement. Except as may otherwise be expressly provided in this Agreement, the Company shall have no further obligation to Employee. 

(c) For purposes of this Agreement, “Good Reason” shall mean: 

 

	 	(i)	a material reduction in the Employee’s duties or responsibilities to which he does not agree in advance; 

  

	 	(ii)	any failure by the Company to comply with any material provision of this Agreement other than an isolated, insubstantial and inadvertent failure not occurring in bad faith that is remedied by the Company promptly after
receipt of notice thereof given by Employee; or 

  

	 	(iii)	the requirement by the Company to which the Employee does not consent in advance that the Employee relocate his principal place of employment to a location more than fifty (50) miles outside of Knoxville,
Tennessee. 

 For purposes of this Agreement, “Change of Control” shall mean the sale of all or substantially all the assets of the
Company; any merger, consolidation or acquisition of the Company with, by or into another corporation, entity or person; or after the effective date of this Agreement, any “person” (as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)) becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 35% or more of
the voting power of the then outstanding securities of the Company. 
 A resignation by the Employee for Good Reason will not become effective until at
least 10 days after the Employee notifies the Company of that resignation. In the event that within ten days after the notice from the Employee, the Company challenges Employee’s determination that there is Good Reason, the resignation will be
suspended and will not become effective until such, if any, time as it is determined by an agreement between the Employee and the Company that is approved by the Company’s Board, or through the procedures described in Section 8, that there
is Good Reason, at which time the resignation will become effective and will be deemed to constitute a termination of employment by the Employee for Good Reason. If the Company does not challenge the Employee’s determination that there is Good
Reason within that ten day period, the Company will be conclusively deemed for all purposes to have agreed that there is Good Reason. While a resignation for Good Reason is suspended, the Employee will continue to be employed by the Company under
this Agreement and the Employee and the Company will have all the rights and obligations provided in this Agreement. 
 (d) On termination
of employment, Employee (or if terminated by death or Disability, his executor or his authorized agent) shall deliver all trade secrets, confidential information, 

  
 6 

 
records, notes, data, memoranda, and equipment of any nature that are in Employee’s (or his estate’s) possession or under his control and that are the property of the Company or relate
to the business of the Company. 
 (e) The obligations of Section 4 through Section 9 of this Agreement shall survive the
expiration or termination of this Agreement. 
 Section 7. Representations and Warranties. 

(a) No Conflicts. Employee represents and warrants to the Company that Employee is under no duty (whether contractual, fiduciary, or
otherwise) that would prevent, restrict, or limit Employee from fully performing all duties and services for the Company, and the performance of such duties and services shall not conflict with any other agreement or obligation to which Employee is
bound. 
 (b) No Hardship. Employee represents and acknowledges that Employee’s experience and/or abilities are such that
observance of the covenants contained in this Agreement will not cause Employee any undue hardship nor will they unreasonably interfere with Employee’s ability to earn a livelihood. 

Section 8. Alternative Dispute Resolution. 

(a) Mediation. Employee and the Company agree to submit, prior to arbitration, all unsettled claims, disputes, controversies, and other
matters in question between them arising out of or relating to this Agreement (including but not limited to any claim that the Agreement or any of its provisions is invalid, illegal, or otherwise voidable or void or any claim by the Employee that he
is entitled to resign for Good Reason) or the dealings or relationship between Employee and the Company (“Disputes”) to mediation in Knoxville, Tennessee, and in accordance with the Commercial Mediation Rules of the American
Arbitration Association in effect at the time. The mediation shall be private, confidential, voluntary, and nonbinding. Any party may withdraw from the mediation at any time before signing a settlement agreement upon written notice to the other
party and to the mediator. The mediator shall be mutually selected by and agreed upon by both Employee and the Company and shall be neutral and impartial. The mediator shall be disqualified as a witness, consultant, expert, or counsel for either
party with respect to the matters in Dispute and any related matters. The Company and Employee shall pay their respective attorneys’ fee and other costs associated with the mediation, and the Company and Employee shall equally bear the costs
and fees of the mediator. If a Dispute cannot be resolved through mediation within ninety (90) days of being submitted to mediation, the parties agree to submit the Dispute to arbitration. 

(b) Arbitration. Subject to Section 8(a), all Disputes will be submitted for binding arbitration to the American Arbitration
Association on demand of either party. Such arbitration proceeding will be conducted in Knoxville, Tennessee, and, except as otherwise provided in this Agreement, will be heard by one (1) arbitrator in accordance with the Commercial Arbitration
Rules of the American Arbitration Association then in effect. All matters relating to arbitration will be governed by the Federal Arbitration Act (9 U.S.C. §§ 1 et. seq.) and not by any state arbitration law. The arbitrator will have the
right to award or include in his award any relief 

  
 7 

 
which he deems proper under the circumstances, including, without limitation, money damages (with interest on unpaid amounts from the date due), specific performance, injunctive relief, and other
enforcement of this Agreement, reasonable attorneys’ fees and costs, provided that the arbitrator will not have the right to amend or modify the terms of this Agreement. The award and decision of the arbitrator will be conclusive and binding
upon all parties hereto, and judgment upon the award may be entered in any court of competent jurisdiction. Except as specified above, the Company and Employee shall pay their respective attorneys’ fee and other costs associated with the
arbitration, and the Company and Employee shall equally bear the costs and fees of the arbitrator. 
 (c) Confidentiality. Employee
and the Company agree that they will not disclose, or permit those acting on their behalf to disclose, any aspect of the proceedings under Section 8(a) and Section 8(b), including but not limited to the resolution or the existence or
amount of any award, to any person, firm, organization, or entity of any character or nature, unless divulged (i) to an agency of the federal or state government, (ii) pursuant to a court order, (iii) pursuant to a requirement of law,
(iv) pursuant to prior written consent of the other of the Company or Employee, or (v) in connection with a legal proceeding to enforce a settlement agreement or arbitration award. This provision is not intended to prohibit nor does it
prohibit Employee’s or the Company’s disclosures of the terms of any settlement or arbitration award to their attorney(s), accountant(s), financial advisor(s), or family members, provided that they comply with the provisions of this
paragraph. 
 (d) Injunctions. Notwithstanding anything to the contrary contained in this Section 8, the Company and Employee
shall have the right in a proper case to obtain temporary restraining orders and temporary or preliminary injunctive relief from a court of competent jurisdiction; provided, however, that the moving party must contemporaneously submit the Dispute(s)
for non-binding mediation under Section 8(a) and then for arbitration under Section 8(b) on the merits as provided herein if such Disputes cannot be resolved through mediation. 

Section 9. General. 
 (a)
Notices. All notices required or permitted under this Agreement shall be in writing, may be made by personal delivery or facsimile or email transmission, effective on the day of such delivery or receipt of such transmission, or may be mailed
by registered or certified mail, effective two (2) business days after the date of mailing, addressed as follows: 
 To the Company:

 PROVECTUS BIOPHARMACEUTICALS, INC. 

7327 Oak Ridge Highway, Suite A 

Knoxville, TN 37931 
 Attn: Chief
Financial Officer 
 or such other person or address as designated in writing to Employee. 

  
 8 

 To Employee: 

H. Craig Dees 
 Provectus
Biopharmaceuticals, Inc. 
 7327 Oak Ridge Highway, Suite A 

Knoxville, TN 37931 
 or to such
other address as designated by him in writing to the Company. 
 (b) Successors. This Agreement shall not be assignable or
transferable (whether by pledge, grant of a security interest, sales contract or otherwise) by the Company, except that the Company may assign this agreement to a successor which acquires all or substantially all of the Company’s Business and
which agrees in writing to be bound by, and fulfill the Company’s obligations under, this Agreement. This Agreement shall be binding upon and shall inure to the benefit of the Company, its permitted successors and assigns, and the Employee and
his heirs or legatees. If Employee dies during the term of this Agreement, the obligation to pay salary and provide benefits shall immediately cease; and, absent actual notice of any probate proceeding, the Company shall pay any compensation due for
the period preceding Employee’s death to the following person(s) in order of preference: (i) spouse of Employee; (ii) children of Employee eighteen years of age and over, in equal shares; (iii) brothers, in equal shares; or
(d) the person to whom funeral expenses are due. Upon payment of such sum, the Company shall be relieved of all further obligations hereunder. 

(c) Waiver, Modification, and Interpretation. No provisions of this Agreement may be modified, waived, or discharged unless such
waiver, modification, or discharge is agreed to in a writing signed by Employee and an appropriate officer of the Company empowered to sign the same by the Committee. No waiver by either party at any time of any breach by the other party of, or
compliance with, any condition or provision of this Agreement to be performed by the other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same time or at any prior to subsequent time. The validity,
interpretation, construction, and performance of this Agreement shall be governed by the laws of the State of Tennessee. Except as provided in Section 8, any action brought to enforce or interpret this Agreement shall be maintained exclusively
in the state and federal courts located in Knoxville, Tennessee. 
 (d) Interpretation. The headings contained herein are for
reference purposes only and shall not in any way affect the meaning or interpretation of any provision of this Agreement. No provision of this Agreement shall be interpreted for or against any party hereto on the basis that such party was the
draftsman of such provision; and no presumption or burden of proof shall arise disfavoring or favoring any party by virtue of the authorship of any of the provisions of this Agreement. 

(e) Counterparts. The Company and Employee may execute this Agreement in any number of counterparts, each of which shall be deemed to
be an original but all of which shall constitute but one instrument. In proving this Agreement, it shall not be necessary to produce or account for more than one such counterpart. 

  
 9 

 (f) Invalidity of Provisions. If a court of competent jurisdiction shall declare that any
provision of this Agreement is invalid, illegal, or unenforceable in any respect, and if the rights and obligations of the Parties to this Agreement will not be materially and adversely affected thereby, in lieu of such illegal, invalid, or
unenforceable provision the court may add as a part of this Agreement a legal, valid, and enforceable provision as similar in terms to such illegal, invalid, or unenforceable provision as is possible. If such court cannot so substitute or declines
to so substitute for such invalid, illegal, or unenforceable provision, (i) such provision will be fully severable; (ii) this Agreement will be construed and enforced as if such illegal, invalid, or unenforceable provision had never
comprised a part hereof; and (iii) the remaining provisions of this Agreement will remain in full force and effect and not be affected by the illegal, invalid, or unenforceable provision or by its severance herefrom. The covenants contained in
this Agreement shall each be construed to be a separate agreement independent of any other provision of this Agreement, and the existence of any claim or cause of action of Employee against the Company, predicated on this Agreement or otherwise,
shall not constitute a defense to the enforcement by the Company of any of said covenants. 
 (g) Entire Agreement. This Agreement
and the Recitals (together with the documents expressly referenced herein) constitute the entire agreement between the parties, supersedes in all respects any prior agreement between the Company and Employee and may not be changed except by a
writing duly executed and delivered by the Company and Employee in the same manner as this Agreement. This Agreement amends and restates, but does not novate, the Prior Agreement. 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the date and year first written above. 

 

			
	PROVECTUS BIOPHARMACEUTICALS, INC.
		
	By:	 	 /s/ Peter R. Culpepper

	Name:	 	 Peter R. Culpepper

	Title:	 	 CFO & COO

 

			
	EMPLOYEE
	
	 /s/ H. Craig Dees

	H. Craig Dees

  
 10

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