Document:

Exhibit

Exhibit 10(c)

EXECUTION VERSION

SEPARATION AGREEMENT AND RELEASE OF ALL CLAIMS
MIGUEL A. LOPEZ

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.  

		
	1.
	Separation Date.  Your employment with Harris will end at close of business on February 11, 2016 (your “Separation Date”).  

		
	2.
	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 $540,800 (the “Separation Pay”).  As set forth in Section 7, you will also be entitled to a Fiscal Year 2016 Annual Incentive Plan (“AIP”) payment at target pro-rated for the portion of Fiscal 2016 prior to your Separation Date (rather than subject to Harris’ financial results and your individual performance goals 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 August 12, 2016 (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 2 is conditional on your timely executing and delivering this Agreement to Harris and not revoking the Release of All Claims set forth herein.

		
	3.
	Benefits Coverage; Relocation Reimbursement.  (a)  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 maintained by Harris in accordance with the applicable terms thereof.  If you participate in the Medical, Dental, or Vision Care Plans or the Health Care Spending Accounts, 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 the Medical, Dental or Vision Care Plans (but not Health Care Spending Accounts) for a period of up to the shorter of (A) twelve (12) months following your Separation Date or (B) the time when you are eligible for group medical plans maintained by another employer.  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 within thirty (30) days of the receipt of applicable enrollment documents, your healthcare benefits and Health Care Spending Account participation will end on your Separation Date.  (b)  You will be reimbursed in the amount of $50,000 in respect of a partial offset of your relocation expenses.

		
	4.
	Vacation Pay Deferred Payment.  You will be paid $31,760, which is the value of your deferred compensation account attributable to certain vacation and/or paid time off that was converted into non-qualified deferred compensation.  But for the application of the Specified Employee Requirement, your account would have been paid to you within thirty (30) days following your Separation Date.  Due to the Specified Employee Requirement, your account may not be paid to you during the period beginning on your Separation Date and ending on the date that six (6) months following your Separation Date (or if earlier, on the date of your death).  Accordingly, your account will be paid to you in a lump sum on August 12, 2016 (or if earlier, within ninety (90) days following your death).  The payment will be subject to applicable taxes and withholdings (FICA deductions have already been taken from this amount).

		
	5.
	Retirement Plan Participation.  Benefit accruals and contributions under the Retirement Plan and Supplemental Executive Retirement Plan, including matching contributions, will end as of your Separation Date; provided however, that your deferral elections, if any, with respect to any compensation payable to you pursuant to the Fiscal Year 2016 AIP shall remain in full force and effect.  

	
			
	ML
	 
	RLD

	Employee
	Page 1 of 8
	Harris

		
	6.
	Performance Reward Plan (PRP).  Under the terms of the PRP, you will not be eligible for any PRP payment in respect of Fiscal Year 2016.  

		
	7.
	Annual Incentive Plan.  In lieu of a pro-rated Fiscal Year 2016 AIP payout subject to Harris’ financial results and your individual performance against established goals, you will receive a Fiscal Year 2016 AIP payment of $253,800, which is equal to your pro-rated Fiscal Year 2016 AIP at target.  The timing of such payment will be governed by the terms and conditions of the AIP.  You acknowledge and agree that the payment described in this Section 7 is conditional on your timely executing and delivering this Agreement to Harris and not revoking the Release of All Claims set forth herein. 

  
		
	8.
	Stock Options.  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 immediately cancelled and forfeited.

		
	9.
	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 2015-2017 and Fiscal 2016-2018 cycles granted to you will be immediately cancelled and forfeited on the Separation Date.

		
	10.
	Restricted Unit and Stock Awards.  Your outstanding restricted unit award 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 the grant, it being agreed that your separation shall be treated as an involuntary separation for purposes of the restricted unit award of 12,500 units granted to you on March 3, 2014, with such award being pro-rated through your Separation Date and paid in shares as soon as administratively practicable following the Separation Date or if applicable, following the applicable six-month delay under Section 409A.  The restricted stock award granted to you on June 1, 2015, will not satisfy the minimum one year vesting period and will be immediately cancelled and forfeited on the Separation Date.

		
	11.
	Outplacement Assistance.  You will be eligible for a six (6) month executive outplacement program (the “Program”) administered by Right Management Associates.  Participation in the Program is voluntary, but must be elected by March 11, 2016.  If you do not elect to participate in the Program, you will not receive cash in lieu thereof.

		
	12.
	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 your 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 dated February 4, 2014, the Harris Corporation Severance Pay Plan, or any other severance program, policy or arrangement maintained by Harris or otherwise.

		
	13.
	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 Executive Change in Control Severance Agreement between you and Harris dated February 28, 2014 (the “Change in Control Severance Agreement”) and the Indemnification Agreement between you and Harris dated February 28, 2014 (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.

		
	14.
	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.  

	
			
	ML
	 
	RLD

	Employee
	Page 2 of 8
	Harris

		
	15.
	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;

		
	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.

		
	16.
	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 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.

		
	17.
	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 subsidiaries and affiliates, and you agree that you will not retain copies of same.  You further certify that, no later than your 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.  

		
	18.
	Confidentiality.  In addition to your agreement to return company information and property to Harris, you acknowledge that, while employed by Harris, you had access to, acquired and/or assisted in the development of confidential or proprietary information, inventions, and trade secrets relating to the present and anticipated business and operations of Harris or its subsidiaries and affiliates, including without limitation: research projects; manufacturing processes; sales and marketing 

	
			
	ML
	 
	RLD

	Employee
	Page 3 of 8
	Harris

methods; business opportunities; marketing plans; sales forecasts and product plans; distributor and customer pricing information; personnel data regarding employees of Harris or its subsidiaries and affiliates, including salaries; and other information of a similar confidential nature not available to the public.  You agree to keep confidential and not to disclose or use such confidential and proprietary information, inventions and trade secrets without the prior written consent of Harris or until such time as the information, inventions and trade secrets become public knowledge.  You further agree not to use or disclose such confidential or proprietary information, inventions and trade secrets to solicit business directly or indirectly on behalf of any subsequent employer from any present or prospective customer(s) of Harris or its subsidiaries or affiliates.  You understand that these obligations continue after you leave Harris’ employ.  The provisions of this Section 18 are separate from and in addition to the confidentiality restrictions contained in the equity awards granted to you by Harris or in any other confidentiality agreement entered into between you and Harris or any subsidiary or affiliate thereof.  Any breach of the above-described additional confidentiality provisions will also constitute a violation and breach of this Agreement. 

		
	19.
	Standards of Business Conduct.  You acknowledge that you have read and understand Harris’ Code of Conduct and that you do not have any information or knowledge as to non‐compliance with, or violation of, the policies and standards set forth therein.

		
	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 is hereby acknowledged, commencing on the date hereof and continuing through February 11, 2017, you agree that you will not, directly or indirectly, individually or on behalf of any other employer or any other business, person or entity: (i) recruit, induce, solicit or attempt to recruit, induce or solicit any individual employed by Harris or any of its subsidiaries to terminate, abandon or otherwise leave or discontinue employment with Harris or any of its subsidiaries; or (ii) hire or cause or assist any individual employed by Harris or any of its subsidiaries to become employed by or provide services to any other business, person or entity whether as an employee, consultant, contactor or otherwise.  You also agree that this restriction is reasonable and necessary for the protection of Harris’ legitimate business interests and that a violation of this restriction will cause irreparable harm to Harris.  The provisions of this Section 20 are separate from and in addition to any other non-solicit agreement between you and Harris or its subsidiaries or affiliates, including but not limited to: (i) your Employee Agreement, which you signed on February 4, 2014, and (ii) the terms and conditions of equity awards granted to you.  Any breach of the above-described additional non-solicitation provisions will constitute a violation and breach of this Agreement. 

		
	21.
	Non-Disparagement.  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, you agree that you will not criticize, disparage, defame, or otherwise attempt to impugn the character, integrity or reputation of Releasees or the products or services of Harris and its subsidiaries or affiliates (verbally, in writing or otherwise), nor will you unlawfully interfere with any of the business relationships of Harris and its subsidiaries or affiliates. The provisions of this Section 21 are separate from and in addition to any other non-disparagement agreement between you and Harris or its subsidiaries or affiliates, including but not limited to, the non-disparagement restrictions contained in the equity awards granted to you by Harris.  Any breach of the above-described additional non-disparagement provisions will also constitute a violation and breach of this Agreement.    

		
	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 is hereby acknowledged, you agree that from your Separation Date through February 11, 2017, you shall not, directly or indirectly, as an employee, independent contractor, consultant, officer, director, principal, lender or investor engage or otherwise participate in any activities with, or provide services to, a Competitive Business, without the prior written consent of the Senior Vice President, Human Resources or other designated executive officer of Harris (which consent shall be at such officer’s discretion to give or withhold).  Nothing in this section shall preclude you from owning up to 1% of the equity in any publicly traded company.  For purposes of this Agreement, “Competitive Business” means any business, person or entity that is engaged, or planning or contemplating to engage within a period of twelve (12) months, in any business activity that is competitive with the business and business activities engaged in by a business unit of Harris at the Separation Date.  The provisions of this Section 22 are separate from and in addition to any other non-competition agreement between you and Harris or its subsidiaries or affiliates, including but not limited to the non-competition restrictions contained in the equity awards granted to you by Harris.  Any breach of the above-described additional non-competition provisions will constitute a violation and breach of this Agreement. 

	
			
	ML
	 
	RLD

	Employee
	Page 4 of 8
	Harris

		
	23.
	Customer and Potential Customer Non-Interference.  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, you agree that from your Separation Date through February 11, 2017, you shall not, directly or indirectly, individually or: (i) on behalf of any other employer or any other business, person or entity, entice, induce, solicit or attempt or participate in enticing, inducing or soliciting, any Customer or Potential Customer of Harris or its subsidiaries to cease or reduce or refrain from doing business with Harris or its subsidiaries; or (ii) on behalf of any Competitive Business, entice, induce, solicit, or attempt or participate in enticing, inducing or soliciting or accept or attempt or participate in accepting, business from any Customer or Potential Customer of Harris or its subsidiaries.  For purposes of this Agreement: (a) “Customer” means any business, person or entity who purchased any products, goods, systems or services from Harris or its subsidiaries at any time during the preceding twenty-four months; and (b) “Potential Customer” means any business, person or entity targeted during the preceding twelve (12) months as a customer to purchase any products, goods, systems or services from Harris or its subsidiaries.  The provisions of this Section 23 are separate from and in addition to any other customer non-solicit agreement between you and Harris or its subsidiaries or affiliates, including but not limited to, the customer non-solicit restrictions contained in the equity awards granted to you by Harris.  Any breach of the above-described additional customer non-solicit provisions will constitute a violation and breach of this Agreement.

		
	24.
	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, breach the restrictive covenants applicable to you under this Agreement 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 20, 21, 22 and 23, 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.

		
	25.
	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.

		
	26.
	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;

		
	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 45 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 45-day period explained above, you may do so;

	
			
	ML
	 
	RLD

	Employee
	Page 5 of 8
	Harris

		
	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 herein.

		
	27.
	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.

		
	28.
	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 provisions of your Harris Employee Agreement dated February 4, 2014, a copy of which has been provided to you, or any other obligations you may have regarding confidentiality, non-disclosure, intellectual property, ownership of inventions, non-competition and/or non-solicitation pursuant to any agreement with Harris or its subsidiaries or affiliates.  You acknowledge and agree that the terms of your Offer Letter dated February 4, 2014 providing for severance in the event of your termination of employment under certain circumstances is no longer in force or effect and that you have no rights to any payment of severance or any other amounts pursuant to such Offer Letter.

		
	29.
	Withholding.  Notwithstanding any other provision of this Agreement, Harris may withhold from amounts payable under this Agreement all amounts that are required or authorized to be withheld, including, but not limited to, federal, state, local and foreign taxes to be withheld by applicable laws or regulations.

		
	30.
	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.

		
	31.
	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.

		
	32.
	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 

	
			
	ML
	 
	RLD

	Employee
	Page 6 of 8
	Harris

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.    

		
	33.
	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.

		
	34.
	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.

		
	35.
	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]

	
			
	ML
	 
	RLD

	Employee
	Page 7 of 8
	Harris

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, VACATION PAY AND/OR OTHER 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/ Miguel Lopez    
	 
	By:
	/s/ Robert L. Duffy

	Signature
	 
	Name:
	Robert L. Duffy

	 
	 
	 
	 
	Title:
	Senior Vice President

	 
	 
	 
	 
	 
	 
	Human Resources and Administration

	Miguel Lopez
	 
	 
	 
	 

	Print Name
	 
	Date:
	1/29/2016

	 
	 
	 
	 
	 
	 
	 

	Date:
	1/29/2016
	 
	 
	 
	 

	
			
	ML
	 
	RLD

	Employee
	Page 8 of 8
	HarrisExhibit

EXHIBIT 10.1

ST. JUDE MEDICAL, INC. 2007 STOCK INCENTIVE PLAN
AS AMENDED AND RESTATED (2014)

RESTRICTED STOCK AWARD CERTIFICATE
This certifies that                  is granted a Restricted Stock Award for        shares of Common Stock, $.10 par value, of St. Jude Medical, Inc., a Minnesota corporation.
Social Security/ID Number: 	
	
	 

    
Grant Date: _________    , 20__    
Expiration Date of Restricted Period: 	
	
	 

Vesting Schedule:
This Restricted Stock Award (the “Award”) is governed by, and subject in all respects to, the terms and conditions of the Restricted Stock Award Agreement, a copy of which is attached to and made a part of this document, and the St. Jude Medical, Inc. 2007 Stock Incentive Plan, as Amended and Restated (2014) (the “Plan”), a copy of which is available upon request.  By receiving the Award, you hereby acknowledge and agree that the Award is governed by the terms and conditions of the accompanying Restricted Stock Award Agreement and the terms and provisions of the Plan.
ST. JUDE MEDICAL, INC.
	
		
	By:
	 

	 
	 

	Name:
	 

	 
	 

	Title:
	 

    
ST. JUDE MEDICAL, INC.
2007 STOCK INCENTIVE PLAN
as Amended and Restated (2014)
RESTRICTED STOCK AWARD AGREEMENT
This Restricted Stock Award Agreement is between St. Jude Medical, Inc., a Minnesota corporation (the “Company”), and you, the person named in the attached Restricted Stock Award Certificate (the “Award Certificate”), who is an employee or a director of the Company.  This Agreement is effective as of the date of grant set forth in the attached Award Certificate (the “Grant Date”).
The Company wishes to award to you a number of shares of the Company’s Common Stock, $.10 par value (the “Common Stock”), subject to certain restrictions as provided in this Agreement, in order to carry out the purpose of the St. Jude Medical, Inc. 2007 Stock Incentive Plan, as Amended and Restated (2014) (the “Plan”).  All capitalized terms not defined in this Agreement shall have the same meaning as set forth in the Plan.  See Section 12 for a list of defined terms.
Accordingly, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and you hereby agree as follows:
1.Award of Restricted Stock.
The Company hereby grants to you, effective as of the Grant Date, an Award of Restricted Stock for that number of shares of Common Stock set forth in the attached Award Certificate (the “Shares”), on the terms and conditions set forth in this Agreement and the Award Certificate and in accordance with the terms of the Plan.  
2.Rights with Respect to the Shares.  
With respect to the Shares, you shall be entitled to exercise the rights of a shareholder of Common Stock of the Company, including the right to vote the Shares and the right to receive cash dividends thereon as provided in Section 8 of this Agreement, unless and until the Shares are forfeited pursuant to Section 5 hereof.  Your rights with respect to the Shares shall remain forfeitable at all times prior to the date or dates on which such rights become vested, and the restrictions with respect to the Shares lapse, in accordance with Section 3, Section 4 or Section 5 hereof.
3.Vesting.
Subject to the terms and conditions of this Agreement, the Shares shall vest, and the restrictions with respect to the Shares shall lapse, on the date or dates and in the amount or amounts set forth in the attached Award Certificate if you remain continuously employed by the Company or if you continuously serve on the Company’s Board of Directors until the respective vesting dates.
4.Change in Control.
(a)In the event of a Change in Control, this Restricted Stock Award Agreement shall be assumed by the successor corporation, an affiliate thereof or other successor entity or person, or shall be replaced with an award or grant that, solely in the discretionary judgment of the Committee, preserves the existing value of this Restricted Stock Award Agreement at the time of the Change in Control and provides for vesting and settlement terms that are at least as favorable to you as the vesting and payout terms applicable to this Restricted Stock Award Agreement, and the assumed Restricted Stock Award Agreement or such substitute therefore shall remain outstanding and shall be governed by its respective terms and shall include the following additional terms:

If you are an employee:  “If, within two years after a Change in Control you experience an involuntary termination of employment initiated by the Company for reasons other than Cause, or a termination of employment for Good Reason, the unvested portion of the Shares shall immediately vest and the restrictions with respect to such Shares shall lapse.” 
If you are a non-employee director: “If, within two years after a Change in Control, you cease to serve on the Board of Directors other than in connection with being removed for Cause or your voluntary resignation, 

the unvested portion of the Shares shall immediately vest and the restrictions with respect to such Shares shall lapse.” 
(b)If, in the event of a Change in Control, this Restricted Stock Award Agreement is not assumed or replaced as provided by subsection (a) above, then the unvested portion of the Shares shall immediately vest and the restrictions with respect to such Shares shall lapse upon the Change in Control.

5.Early Vesting; Forfeiture.
If your employment terminates or if you resign or are removed from or otherwise cease to serve on, the Company’s Board of Directors prior to the vesting of the Shares pursuant to Section 3 or Section 4 hereof, your rights to all of the unvested Shares shall be immediately and irrevocably forfeited, including the right to vote such Shares and the right to receive cash dividends on such Shares, unless otherwise determined by the Committee administering the Plan, except that if you die, become Disabled, or in the case of an employee, terminate employment by reason of Normal Retirement or Early Retirement prior to the vesting or forfeiture of all Shares pursuant to Section 3 or Section 4 hereof, you shall become immediately and unconditionally vested in all of the Shares for which vesting has occurred as a result of such event in accordance with the terms of the Award Certificate and your rights to all of the unvested Shares shall be immediately and irrevocably forfeited pursuant to the terms of this Agreement and the attached Award Certificate, and the restrictions with respect to all such vested Shares shall lapse, on the date of your death, that you become Disabled or you terminate employment by reason of Normal Retirement or Early Retirement.  No transfer by will or the applicable laws of descent and distribution of any Shares which vest by reason of your death shall be effective to bind the Company unless the Committee administering the Plan shall have been furnished with written notice of such transfer and a copy of the will or such other evidence as the Committee may deem necessary to establish the validity of the transfer.
6.Restriction on Transfer.  
Until the Shares vest pursuant to Section 3, Section 4 or Section 5 hereof, none of the Shares may be sold, assigned, transferred, pledged, attached or otherwise encumbered, and no attempt to transfer the Shares, whether voluntary or involuntary, by operation of law or otherwise, shall vest the transferee with any interest or right in or with respect to the Shares.
7.Issuance and Custody of Certificates.
(a)The Company shall cause the Shares to be issued in your name, either by book-entry registration or issuance of a stock certificate or certificates, which certificate or certificates shall be held by the Company.  The Shares shall be restricted from transfer and shall be subject to an appropriate stop-transfer order.  If any certificate is issued, the certificate shall bear an appropriate legend referring to the restrictions applicable to the Shares.

(b)If any certificate is issued, you shall be required to execute and deliver to the Company a stock power or stock powers relating to the Shares as a condition to the receipt of this Award of Restricted Stock.

(c)After any Shares vest pursuant to Section 3, Section 4 or Section 5 hereof, and following payment of the applicable withholding taxes pursuant to Section 9 hereof, the Company shall promptly cause such vested Shares (less any Shares withheld to pay taxes), free of the restrictions and/or legend described in Section 7(a) hereof, to be delivered, either by book-entry registration or in the form of a certificate or certificates, registered in your name or in the names of your legal representatives, beneficiaries or heirs, as the case may be.

8.Distributions and Adjustments.
(a)If any Shares vest subsequent to any change in the number or character of the Common Stock of the Company (through any stock dividend or other distribution, recapitalization, stock split, reverse stock split, reorganization, merger, consolidation split-up, spin-off, combination, repurchase or exchange of shares or otherwise), you shall then receive upon such vesting the number and type of securities or other consideration which you would have received if such Shares had vested prior to the event changing the number or character of the outstanding Common Stock.

(b)Any additional shares of Common Stock of the Company, any other securities of the Company and any other property (except for cash dividends or other cash distributions) distributed with respect to the Shares prior to the date or dates the Shares vest shall be subject to the same restrictions, terms and conditions as the Shares to which they relate and shall be promptly deposited with the Secretary of the Company or a custodian designated by the Secretary.

(c)Any cash dividends or other cash distributions payable with respect to the Shares shall be distributed to you at the same time cash dividends or other cash distributions are distributed to shareholders of the Company generally.

9.Taxes.
(a)You acknowledge that you will consult with your personal tax advisor regarding the income tax consequences of the grant of the Shares, payment of dividends on the Shares, the vesting of the Shares and any other matters related to this Agreement.  In order to comply with all applicable federal, state, local or foreign income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that all applicable federal, state, local or foreign payroll, withholding, income or other taxes, which are your sole and absolute responsibility, are withheld or collected from you.

(b)In accordance with the terms of the Plan, and such rules as may be adopted by the Committee administering the Plan, you may elect to satisfy any applicable tax withholding obligations arising from the receipt of, or the lapse of restrictions relating to, the Shares by (i) delivering cash (including check, draft, money order or wire transfer made payable to the order of the Company), (ii) having the Company withhold a portion of the Shares otherwise to be delivered having a Fair Market Value equal to the amount of such taxes, or (iii) delivering to the Company shares of Common Stock having a Fair Market Value equal to the amount of such taxes.  The Company will not deliver any fractional Share but will pay, in lieu thereof, the Fair Market Value of such fractional Share.  Your election must be made on or before the date that the amount of tax to be withheld is determined.

10.Covenants.
In consideration of benefits described elsewhere in this Agreement and the attached Award Certificate, and in recognition of the fact that, as a result of your employment with the Company or any of its Affiliates, you have had or will have access to and gain knowledge of highly confidential or proprietary information or trade secrets pertaining to the Company or its Affiliates, as well as the customers, suppliers, joint ventures, distributors or other persons and entities with whom the Company or any of its Affiliates does business (“Confidential Information”), which the Company or its Affiliates have expended time, resources and money to obtain or develop and which have significant value to the Company and its Affiliates, you agree for the benefit of the Company and its Affiliates, and as a material condition to your receipt of benefits described elsewhere in this Agreement and the attached Award Certificate, as follows:
(a)Non-Competition Agreement.  In the event of your termination of employment for any reason, whether voluntary or involuntary, you, either personally or through an agent, servant, employee, partner, representative, affiliate or other entity, shall not for a period of one year following termination, without the prior written consent of the Company, directly or indirectly, seek or accept employment with or render services to any other person or entity that competes in any sense with the Company or any of its Affiliates in connection with the design, development, manufacture, marketing or sale of any product, process or service that is being designed, developed, manufactured, marketed or sold by the Company or any of its Affiliates and in which you participated in the design, development, manufacture, marketing or sale during your employment with the Company or any of its Affiliates or about which you acquired Confidential Information.

The preceding paragraph specifically prohibits you from rendering services to a competitor of the Company or any of its Affiliates in the capacity as an employee, agent, or representative of a competitor; as a partner, director, officer or shareholder of a competitor; or through any other form of ownership interest in a competitor, including self-employment. This does not prohibit you from holding less than five percent of the issued and outstanding stock of a competitor which is a publicly held corporation.  The preceding paragraph further specifically prohibits you from rendering services to any company where rendering such services would be expected to require or involve your using or disclosing Confidential Information.
(b)Restriction on Solicitation of Employees and Former Employees.  You agree that you will not, during your employment and for a period of one year following your termination of employment with the Company or any of its Affiliates, directly or indirectly solicit, or assist anyone else in the solicitation of, any of the Company’s or any of its Affiliates’ employees, or former employees who worked for the Company or any of its Affiliates for the purpose of hiring them, engaging them as consultants, or inducing them to leave their employment with the Company or any of its Affiliates. If you are approached by one of the Company’s or any of its Affiliates’ employees or former employees regarding potential employment, consultation or contract, as described above during the restrictive period of non-solicitation, you must immediately (i) fully inform the employee or former employee of the 

non-solicitation obligation described above and (ii) refrain from engaging in any communication with the employee or former employee regarding potential employment consultation or contract.

(c)Other More Restrictive Covenants.
In the event that you are a party to any other agreement with the Company or its Affiliates that restrict you from competing with the Company or soliciting employees or former employees of the Company, then the terms of such covenants, to the extent more restrictive than the covenants set forth in subsections (a) and (b) above, shall be deemed to modify and replace the covenants set forth in subsections (a) and (b) above.
(d)Remedies.
In the event you breach any of the covenants contained in this Section 10, you recognize that irreparable injury will result to the Company, that the Company’s remedy at law for damages will be inadequate, and that the Company shall be entitled to an injunction to restrain the continuing breach by you, your partners, agents, servants or employees, or any other persons or entities acting for or with you. The Company shall further be entitled to damages, reasonable attorney’s fees, and all other costs and expenses incurred in connection with the enforcement of this Agreement, in addition to any other rights and remedies which the Company may have at law or in equity.  
In addition to the remedies set forth in the preceding paragraph, you agree that upon your breach of any covenant contained in this Section 10, (i) the Shares shall be immediately and irrevocably forfeited and (ii) if you have received delivery of shares of Common Stock or cash upon the vesting of the Shares under this Agreement within the period beginning six months prior to the date of your termination of employment and ending twelve months following the date of your termination of employment, the Company, in its sole discretion, may require you to return or forfeit such shares (as adjusted for any events described in Section 8 of this Agreement that occurred following the date of vesting) or cash. The Company’s right to require forfeiture must be exercised no later than 180 days after the Company acquires actual knowledge of such an activity, but in no event later than twelve months after your termination of employment.  Such right shall be deemed to be exercised upon the Company’s mailing written notice of such exercise to your most recent home address as shown on the personnel records of the Company. 
If you fail or refuse to forfeit the shares of Common Stock or cash demanded by the Company, you shall be liable to the Company for damages (which, in the case of Common Stock, shall equal the number of shares of Common Stock demanded times the highest closing price per share of the Common Stock during the period between the date of your termination of employment and the date of any judgment or award to the Company, as adjusted for any events described in Section 8 of this Agreement), together with all costs and attorneys’ fees incurred by the Company to enforce this provision.
Notwithstanding the foregoing, this Section 10 shall have no application following a Change in Control or to the extent prohibited under applicable local law.
11.General Provisions.
(a)Interpretations.  This Agreement is subject in all respects to the terms of the Plan.  A copy of the Plan is available upon your request.  Terms used herein which are defined in the Plan shall have the respective meanings given to such terms in the Plan, unless otherwise defined herein.  In the event that any provision of this Agreement is inconsistent with the terms of the Plan, the terms of the Plan shall govern.  Any question of administration or interpretation arising under this Agreement shall be determined by the Committee administering the Plan, and such determination shall be final, conclusive and binding upon all parties in interest.
(b)No Right to Employment or Board Service.  Nothing in this Agreement or the Plan shall be construed as giving you the right to be retained as an employee of the Company or to continue to serve on the Company’s Board of Directors.  In addition, the Company may at any time dismiss you from employment, free from any liability or any claim under this Agreement, unless otherwise expressly provided in this Agreement.
(c)Securities Matters.  The Company shall not be required to deliver any Shares until the requirements of any federal or state securities or other laws, rules or regulations (including the rules of any securities exchange) as may be determined by the Company to be applicable are satisfied.
(d)Headings.  Headings are given to the sections and subsections of this Agreement solely as a convenience to facilitate reference.  Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Agreement or any provision hereof.
(e)Governing Law.  The internal law, and not the law of conflicts, of the State of Minnesota will govern all questions concerning the validity, construction and effect of this Agreement.

(f)Notices.  You should send all written notices regarding this Agreement or the Plan to the Company at the following address:
St. Jude Medical, Inc.
One St. Jude Medical Drive
St. Paul, MN 55117
Attn: Stock Plan Administrator

(g)Award Certificate.  This Restricted Stock Award Agreement is attached to and made part of an Award Certificate and shall have no force or effect unless such Award Certificate is duly executed and delivered by the Company to you and accepted by you through an electronic medium in accordance with procedures established by the Company or, if required by applicable law, by signing and returning a copy of the Award Certificate to the Company.
12.Definitions.
(a)“Cause” shall mean (a) the felony conviction of the employee, (b) the failure of the employee to contest the prosecution of a felony, or (c) the willful misconduct, dishonesty or intentional violation of a statute, rule or regulation by the employee, any of which in the judgment of the Company, is harmful to the business or reputation of the Company.

(b)“Change in Control” shall mean:
(i)the acquisition by any person, entity or “group,” within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), other than the Company or any of its Affiliates, or any employee benefit plan of the Company and/or one or more of it Affiliates, of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 35% or more of either the then outstanding shares of Common Stock or the combined voting power of the Company’s then outstanding voting securities in a transaction or series of transactions; or
(ii)individuals who, as of the Grant Date, constitute the Board of Directors of the Company (generally the “Directors” and as of the Grant Date the “Continuing Directors”) cease for any reason to constitute at least a majority thereof, provided that any person becoming a Director subsequent to the Grant Date whose nomination for election was approved in advance by a vote of at least three-quarters of the Continuing Directors (other than a nomination of an individual whose initial assumption of office is in connection with an actual or threatened solicitation with respect to the election or removal of the Directors of the Company, as such terms are used in Rule 14a-11 of Regulation 14A under the Exchange Act) shall be deemed to be a Continuing Director; or
(iii)the consummation of a reorganization, merger, consolidation, liquidation or dissolution of the Company or of the sale (in one transaction or a series of related transactions) of all or substantially all of the assets of the Company.

(c) “Disability” shall mean total and permanent disability as approved by the Committee administering the Plan.
(d)“Early  Retirement” shall mean retirement with the consent of the Committee.

(e)“Good Reason” shall mean the occurrence of any of the following events, except for the occurrence of such an event in connection with the termination or reassignment of your employment by the Company for Cause, Disability, Early Retirement, Normal Retirement or death:
(i)a material reduction of your status, position or responsibilities with the Company from those in effect immediately prior to the Change in Control;
(ii)a reduction by the Company in your annual base salary or target amount of annual bonus in effect immediately prior to the Change in Control;
(iii)the Company’s requiring you to be based anywhere other than within 50 miles of your office location immediately prior to a Change in Control except for required travel on the Company’s business to an extent substantially consistent with your business travel obligations immediately prior to the Change in Control; or
(iv)the failure by the Company to continue to provide you with benefits that are, in the aggregate, at least as favorable as those enjoyed by you under any of the Company’s pension, life insurance, medical, health and accident, disability, deferred compensation, incentive, stock, stock purchase, stock option, savings, perk package, vacation or other plans or programs in which you participate that are in effect immediately prior to the Change in Control, except for broad-based changes to any such plans or programs that effect all employees of the Company or broad groups of employees who are similarly situated.

(f) “Normal Retirement” shall mean retirement on or after age 65.
* * * * * * * *

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00257-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00257-of-00352.parquet"}]]