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SUMMARY ANNUAL COMPENSATION OF
OUTSIDE DIRECTORS
The following
table summarizes the annual compensation of our outside directors
as in effect on August 28, 2009. Employee directors are not
compensated for service as a director.
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$55,000
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Audit Committee
Chairperson Retainer
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$10,000
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Committee
Chairperson Retainer
[other than Audit
Committee]
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$5,000
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Board Meeting
Attendance Fee
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$2,000
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Committee
Meeting Attendance Fee
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$2,000
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Deferred
Compensation Plan (1)
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Travel and
Other Expenses
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Actual expenses
incurred in the performance of their services as Directors are
reimbursed.
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Director
education institutes/activities
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Reimbursed for
costs and expenses.
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Accident, Death
and Disability Insurance and Business Travel Insurance
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Up to $200,000
and an additional $200,000 in the event a director is involved in
an accident while traveling on business relating to our
affairs.
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Charitable
Matching Gift Program
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Annual maximum
of $10,000 per director is matched to eligible educational
institutions and charitable organizations.
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(1)
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Under the terms
of the Harris Corporation 2005 Directors’ Deferred
Compensation Plan, as amended and restated (the “2005
Directors’ Plan”), on January 1, April 1,
July 1, and October 1 (each such day an “Award
Date”) of each year, Harris credits each non-employee
director’s account with a number of Harris stock equivalent
units having a fair market value equal to $26,500 (for an annual
rate of $106,000), which amount may be changed from time to time by
the Board. In addition, under the 2005 Directors’ Plan, prior
to the commencement of a calendar year each non-employee director
may make an ir
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