# EDGAR Filing Document

**Accession Number:** 0002101698
**File Stem:** 0001213900-26-048069
**Filing Date:** 2026-4
**Character Count:** 114904
**Document Hash:** e3a0f40856f227a58b29f7f83e503501
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-048069.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0001213900-26-048069

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**EFFECTIVENESS DATE**: 20260427

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Elmet Group Co.
- **CENTRAL INDEX KEY:** 0002101698
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS FABRICATED METAL PRODUCTS [3490]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 331881598
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-295353
- **FILM NUMBER:** 26901878

**BUSINESS ADDRESS:**
- **STREET 1:** 2 PORTLAND FISH PIER, SUITE 214
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101
- **BUSINESS PHONE:** 207-518-6791

**MAIL ADDRESS:**
- **STREET 1:** 2 PORTLAND FISH PIER, SUITE 214
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101

**As filed with the Securities and Exchange Commission on April 27, 2026**

**Registration Statement No. 333-** 

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

**The Elmet Group Co.** 

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **33-1881598** |
| **(State or incorporation or organization)** | **(IRS Employer Identification No.)** |

---

---

| | |
|:---|:---|
| **2 Portland Fish Pier, Suite 214**<br> **Portland, ME** | **04101** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**The Elmet Group Co.**

**2026 Equity Incentive Plan**

(Full Title of Plan)

**Peter V. Anania**

**Chief Executive Officer**

**The Elmet Group Co.**

**2 Portland Fish Pier**

**Suite 214**

**(207) 518-6791**

**(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)**

**with copies to:** 

**Adam Berkaw, Esq.**

**Ellenoff Grossman & Schole LLP**

**1345 Avenue of the Americas; Suite 1100**

**New York, New York 10105**

**Telephone: (212) 370-1300**

**Fax: (212) 370-7889**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**EXPLANATORY NOTE**

This Registration Statement is being filed by The Elmet Group Co. (the "Company") with the Securities and Exchange Commission (the "Commission") to register the grant of up to 3,616,003 shares of common stock of the Company, par value $0.001 per share, to certain employees of and consultants to the Company either as stock grants, stock options or other equity-based incentives, and the subsequent exercise of any stock options or other equity-based incentives pursuant to the 2026 Equity Incentive Plan.

**PART I** 

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

**Item 1. Plan Information**

The documents containing the information specified in Part I of this Registration Statement will be sent or given to eligible employees as specified by Rule 428(b)(1) of the Securities Act of 1933, as amended as of the date of this Registration Statement (the "Securities Act"). Such documents are not required to be and are not filed with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of this Form S-8, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**Item 2. Registrant Information and Employee Plan Annual Information.**

Upon written or oral request, any of the documents incorporated by reference in Item 3 of Part II of this Registration Statement (which documents are incorporated by reference in this Section 10(a) Prospectus), other documents required to be delivered to eligible employees pursuant to Rule 428(b) or additional information about the Offering are available without charge by contacting:

Corporate Secretary

The Elmet Group Co.

2 Portland Fish Pier, Suite 214

Portland, ME 04101

(207) 518-6791

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

*In this registration statement, The Elmet Group Co. is sometimes referred to as "Registrant," "we," "us" or "our."*

**Item 3. Incorporation of Documents by Reference.**

The Commission allows us to "incorporate by reference" the information we filed with them, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be part of this registration statement, and later information filed with the Commission will update and supersede this information. The following documents and information heretofore filed with the Commission by the Registrant are incorporated herein by reference in this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant's [Form 8-A12B](http://www.sec.gov/Archives/edgar/data/2101698/000121390026046565/ea0287293-8a12b_elmet.htm) , which was filed with the Commission on April 22, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Registrant's registration statement on [Form S-1](http://www.sec.gov/Archives/edgar/data/2101698/000121390026035970/ea0270360-04.htm) , File No. 333-294725, initially filed
 with the Commission on March 30, 2026, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Registrant's registration statement on [Form S-1](http://www.sec.gov/Archives/edgar/data/2101698/000121390026046716/ea0287273-s1mef_elmet.htm) , File No. 333-295251, which was filed with the Commission on April 22, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Registrant's current report on [Form 8-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/2101698/000121390026047521/ea0287495-8k_elmet.htm) filed with the Commission on April 24, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The description of the common stock contained in the section entitled "Description of Capital
 Stock" in the prospectus included in the Company's Registration Statement on [Form S-1](http://www.sec.gov/Archives/edgar/data/2101698/000121390026035970/ea0270360-04.htm) (File No. 333-294725), initially
 filed with the Commission on March 30, 2026, as amended.

In addition, all documents subsequently filed with the Commission by the Registrant pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective amendment which indicates that all securities offered hereunder have been sold or which deregisters all securities then remaining unsold under this Registration Statement, shall be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing of such documents. Any statement contained herein or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such earlier statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.

Under no circumstances shall any information furnished under Item 2.02 or 7.01 of Form 8-K be deemed incorporated herein by reference unless such Form 8-K expressly provides to the contrary.

**Item 4. Description of Securities.**

The class of securities to be offered is registered under Section 12 of the Exchange Act and accordingly, no information under Item 202 of Regulation S-K is required.

**Item 5. Interests of Named Experts and Counsel.**

None.

**Item 6. Indemnification of Directors and Officers.**

Section 145 of the Delaware General Corporation Law provides that a corporation may indemnify directors and officers as well as other employees and individuals against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with any threatened, pending or completed actions, suits or proceedings in which such person is made a party by reason of such person being or having been a director, officer, employee or agent of the corporation. Section 145 of the Delaware General Corporation Law also provides that expenses (including attorneys' fees) incurred by a director or officer in defending an action may be paid by a corporation in advance of the final disposition of an action if the director or officer undertakes to repay the advanced amounts if it is determined such person is not entitled to be indemnified by the corporation. The Delaware General Corporation Law provides that Section 145 is not exclusive of other rights to which those seeking indemnification may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise. Our amended and restated bylaws provide that, to the fullest extent permitted by law, we shall indemnify and hold harmless any person who was or is made or is threatened to be made a party or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative by reason of the fact that such person, or the person for whom he is the legally representative, is or was a director or officer of ours, against all liabilities, losses, expenses (including attorney's fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such proceeding.

Section 102(b)(7) of the Delaware General Corporation Law permits a corporation to provide in its certificate of incorporation that a director of the corporation shall not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) for unlawful payments of dividends or unlawful stock repurchases, redemptions or other distributions, or (iv) for any transaction from which the director derived an improper personal benefit. Our second amended and restated certificate of incorporation includes this provision.

Additionally, our second amended and restated certificate of incorporation provides that we shall, to the maximum extent permitted from time to time under the law of the State of Delaware, indemnify and upon request shall advance expenses to any person who is or was a party or is threatened to be made a party to any threatened, pending or completed action, suit, proceeding or claim, whether civil, criminal, administrative or investigative, by reason of the fact that such person is or was or has agreed to be a director or officer of ours or while a director or officer is or was serving at our request as a director, officer, partner, trustee, employee or agent of any corporation, partnership, joint venture, trust or other enterprise, including service with respect to employee benefit plans, against expenses (including attorneys' fees and expenses), judgments, fines, penalties and amounts paid in settlement incurred in connection with the investigation, preparation to defend or defense of such action, suit, proceeding or claim; provided, however, that the foregoing shall not require us to indemnify or advance expenses to any person in connection with any action, suit, proceeding or claim initiated by or on behalf of such person or any counterclaim against us initiated by or on behalf of such person. Such indemnification shall not be exclusive of other indemnification rights arising under any by-law, agreement, vote of directors or stockholders or otherwise and shall inure to the benefit of the heirs and legal representatives of such person. Any person seeking indemnification shall be deemed to have met the standard of conduct required for such indemnification unless the contrary shall be established. Any repeal or modification of our second amended and restated certificate of incorporation shall not adversely affect any right or protection of a director or officer of ours with respect to any acts or omissions of such director or officer occurring prior to such repeal or modification.

Expenses incurred by such a person in defending a civil or criminal action, suit or proceeding by reason of the fact that such person is or was, or has agreed to become, a director or officer of ours, or is or was serving, or has agreed to serve, at our request, as a director, officer or trustee of, or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise, including any employee benefit plan, or by reason of any action alleged to have been taken or omitted in such capacity shall be paid by us in advance of the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such person to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by us as authorized by relevant sections of the Delaware General Corporation Law. Notwithstanding the foregoing, we shall not be required to advance such expenses to a person who is a party to an action, suit or proceeding brought by us and approved by a majority of our board of directors that alleges willful misappropriation of corporate assets by such person, disclosure of confidential information in violation of such person's fiduciary or contractual obligations to us or any other willful and deliberate breach in bad faith of such person's duty to us or our stockholders.

We shall not indemnify any such person seeking indemnification in connection with a proceeding (or part thereof) initiated by such person unless the initiation thereof was approved by our board of directors.

The indemnification rights provided in our amended and restated bylaws shall not be deemed exclusive of any other rights to which those indemnified may be entitled under any by-law, agreement or vote of stockholders or disinterested directors or otherwise, both as to action in their official capacities and as to action in another capacity while holding such office, continue as to such person who has ceased to be a director or officer, and inure to the benefit of the heirs, executors and administrators of such a person.

If the Delaware General Corporation Law is amended to expand further the indemnification permitted to indemnitees, then we shall indemnify such persons to the fullest extent permitted by the Delaware General Corporation Law, as so amended.

We may, to the extent authorized from time to time by our board of directors, grant indemnification rights to other employees or agents of ours or other persons serving us and such rights may be equivalent to, or greater or less than, those set forth in our amended and restated bylaws.

Our obligation to provide indemnification under our amended and restated bylaws shall be offset to the extent of any other source of indemnification or any otherwise applicable insurance coverage under a policy maintained by us or any other person.

To assure indemnification under our amended and restated bylaws of all directors, officers, employees or agents who are determined by us or otherwise to be or to have been "fiduciaries" of any employee benefit plan of ours that may exist from time to time, Section 145 of the Delaware General Corporation Law shall, for the purposes of our amended and restated bylaws be interpreted as follows: an "other enterprise" shall be deemed to include such an employee benefit plan, including without limitation, any plan of ours that is governed by the Act of Congress entitled "Employee Retirement Income Security Act of 1974," as amended from time to time; we shall be deemed to have requested a person to serve an employee benefit plan where the performance by such person of his duties to us also imposes duties on, or otherwise involves services by, such person to the plan or participants or beneficiaries of the plan; and excise taxes assessed on a person with respect to an employee benefit plan pursuant to such Act of Congress shall be deemed "fines."

Our amended and restated bylaws shall be deemed to be a contract between us and each person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that person is or was, or has agreed to become, a director or officer of ours, or is or was serving, or has agreed to serve, at our request, as a director, officer or trustee of, or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise, including any employee benefit plan, or by reason of any action alleged to have been taken or omitted in such capacity, at any time while this by-law is in effect, and any repeal or modification thereof shall not affect any rights or obligations then existing with respect to any state of facts then or theretofore existing or any action, suit or proceeding theretofore or thereafter brought based in whole or in part upon any such state of facts.

The indemnification provision of our amended and restated bylaws does not affect directors' responsibilities under any other laws, such as the federal securities laws or state or federal environmental laws.

We may purchase and maintain insurance on behalf of any person who is or was a director, officer or employee of ours, or is or was serving at our request as a director, officer, employee or agent of another company, partnership, joint venture, trust or other enterprise against liability asserted against him and incurred by him in any such capacity, or arising out of his status as such, whether or not we would have the power to indemnify him against liability under the provisions of this section. We currently maintain such insurance.

The right of any person to be indemnified is subject to our right, in lieu of such indemnity, to settle any such claim, action, suit or proceeding at our expense of by the payment of the amount of such settlement and the costs and expenses incurred in connection therewith.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling our company pursuant to the foregoing provisions, or otherwise, we have been advised that in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.

In the event that a claim for indemnification against such liabilities (other than the payment of expenses incurred or paid by a director, officer or controlling person in a successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered herewith, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to the court of appropriate jurisdiction the question whether such indemnification by us is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

**Item 7. Exemption from Registration Claimed.**

Not applicable.

**Item 8. Exhibits.**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 4.1\*+ | [The Elmet Group Co. 2026 Equity Incentive Plan](ea028761601ex4-1.htm) |
| 4.2 | [Second Amended and Restated Certificate of Incorporation of The Elmet Group Co. (incorporated by reference to Exhibit 3.3 of Amendment No. 1 to the Company's Registration Statement on Form S-1 (File No. 333-294725), filed with the SEC on April 14, 2026).](http://www.sec.gov/Archives/edgar/data/2101698/000121390026043190/ea027036005ex3-3.htm) |
| 4.3 | [Amended and Restated Bylaws of The Elmet Group Co. (incorporated by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K, filed with the SEC on April 24, 2026).](https://www.sec.gov/Archives/edgar/data/2101698/000121390026047521/ea028749501ex3-1.htm) |
| 5.1\* | [Opinion of Ellenoff Grossman & Schole LLP.](ea028761601ex5-1.htm) |
| 23.1\* | [Consent of Ellenoff Grossman & Schole LLP (contained in its opinion filed herewith in Exhibit 5.1).](ea028761601ex5-1.htm) |
| 23.2\* | [Consent of RSM US LLP, Independent Registered Public Accounting Firm.](ea028761601ex23-2.htm) |
| 99.1 | [Form of Stock Option Award Agreement (incorporated by reference to Exhibit 10.40 of Amendment No. 1 to the Company's Registration Statement on Form S-1 (File No. 333-294725), filed with the SEC on April 14, 2026).](http://www.sec.gov/Archives/edgar/data/2101698/000121390026043190/ea027036005ex10-40.htm) |
| 99.2 | [Form of Restricted Stock Unit Award Agreement (incorporated by reference to Exhibit 10.41 of Amendment No. 1 to the Company's Registration Statement on Form S-1 (File No. 333-294725), filed with the SEC on April 14, 2026).](http://www.sec.gov/Archives/edgar/data/2101698/000121390026043190/ea027036005ex10-41.htm) |
| 107\* | [Calculation of Filing Fee Table.](ea028761601ex-fee.htm) |

---

\* Filed herewith. <br> + Indicates a management contract or compensation plan.

**Item 9. Undertakings.**

(a) The undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to include any prospectus required by Section 10(a)(3) of
the Securities Act of 1933;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to reflect in the prospectus any facts or events arising after
the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing,
any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which
was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change
in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration
statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) to include any material information with respect to the plan
of distribution not previously disclosed in the registration statement or any material change to such information in the registration
statement.

*Provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if this registration statement is on Form S-8, and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act of 1934 that are incorporated by reference in this registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under
the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned Registrant hereby undertakes that, for purposes
of determining any liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to Section
13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's
annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial *bona fide* offering thereof.

(c) Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions
or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against
public policy as expressed in the Securities Act of 1933, and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is
against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.

**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in Portland, Maine, on April 27, 2026.

---

| | |
|:---|:---|
| **THE ELMET GROUP CO.** | **THE ELMET GROUP CO.** |
| By: | /s/ Peter V. Anania |
|  | Peter V. Anania |
|  | Chief Executive Officer |

---

KNOW ALL PERSONS BY THESE PRESENTS that each individual whose signature appears below constitutes and appoints Peter V. Anania and Michael Steven Lee and each of them acting singly, his true and lawful attorney-in-fact and agent with full power of substitution, for him and in his name, place, and stead, in any and all capacities, to sign (1) any and all amendments (including post-effective amendments) to this Registration Statement, and (2) any registration statement or post-effective amendment thereto to be filed with the Securities and Exchange Commission pursuant to Rule 462(b) under the Securities Act, and to file the same, with all exhibits thereto and all documents in connection therewith, with the Securities and Exchange Commission or any other regulatory authority, granting unto each said attorney-in-fact and agent, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or his or their substitute or substitutes, may lawfully do or cause to be done or by virtue hereof.

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the date indicated:

---

| | | |
|:---|:---|:---|
| **Signature** | **Capacity** | **Date** |
| */s/ Peter V. Anania* | Chief Executive Officer and Chairman | April 27, 2026 |
| Peter V. Anania | *(Principal Executive Officer)* |  |
| */s/ Michael Lee* | Chief Financial Officer | April 27, 2026 |
| Michael Lee | *(Principal Financial Officer and Principal Accounting Officer)* |  |
| */s/ Scott Knoll* | Director | April 27, 2026 |
| Scott Knoll |  |  |
| */s/ Kimberly Anania* | Director | April 27, 2026 |
| Kimberly Anania |  |  |
| */s/ John Chandler* | Director | April 27, 2026 |
| John Chandler |  |  |
| */s/ Brian Deveaux* | Director | April 27, 2026 |
| Brian Deveaux |  |  |
| */s/ W. Jacob Homiller* | Director | April 27, 2026 |
| W. Jacob Homiller |  |  |
| */s/ Kathie Leonard* | Director | April 27, 2026 |
| Kathie Leonard |  |  |
| */s/ Mark Miklos* | Director | April 27, 2026 |
| Mark Miklos |  |  |
| */s/ Peter Woodward* | Director | April 27, 2026 |
| Peter Woodward |  |  |

---

## Exhibit 4.1

**Exhibit 4.1**

**THE ELMET GROUP CO.**

**2026 EQUITY INCENTIVE PLAN**

**1.**  **<u>Purpose</u>** 

The Plan's purpose is to attract, retain, and motivate persons who make important contributions to the Company by providing these individuals with the opportunity to acquire Shares. Additionally, the Plan is intended to align the interests of these individuals to those of the Company's other shareholders.

**2.**  **<u>Definitions</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;2.1.  ***Administrator*** means the Board or a Committee to the extent the Board's powers and
authorities under the Plan have been delegated to a Committee. "Administrator" also includes any officer that has been delegated
authority pursuant to Section 4.2 for such time as such delegation is in effect.

&nbsp;&nbsp;&nbsp;&nbsp;2.2.  ***Affiliate*** means (i) any person or entity that directly or indirectly controls, is controlled
by or is under common control with the Company and/or (ii) to the extent provided by the Board or a Committee, any person or entity in
which the Company has a significant interest as determined by the Board or a Committee in its discretion. The term "control"
(including, with correlative meaning, the terms "controlled by" and "under common control with"), as applied to
any person or entity, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and
policies of such person or entity, whether through the ownership of voting or other securities, by contract or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;2.3.  ***Applicable Law*** means any applicable law, including without limitation: (i) provisions of
the Code, the Securities Act, the Exchange Act and any rules or regulations thereunder, (ii) corporate, securities, tax or other laws,
statutes, rules, requirements, or regulations, whether federal, state, local, or foreign, and (iii) rules of any securities exchange or
automated quotation system on which the Shares are listed, quoted, or traded.

&nbsp;&nbsp;&nbsp;&nbsp;2.4.  ***Award*** means an Option award, Stock Appreciation Right award, Restricted Stock award, Restricted
Stock Unit award, Performance Award, Dividend Equivalents award, or Other Stock or Cash Based Award granted to a Participant under the
Plan.

&nbsp;&nbsp;&nbsp;&nbsp;2.5.  ***Award Agreement*** means an agreement (written or electronic) made and delivered in accordance
with Section 12.3 of this Plan, evidencing the grant of an Award hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;2.6.  ***Board*** means the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;2.7.  ***Cause*** means, in the case of a particular Award, unless the applicable Award Agreement states
otherwise, (i) the Company or an Affiliate having "cause" to terminate a Participant's employment or service, as defined
in any employment or consulting agreement or similar document or policy between the Participant and the Company or an Affiliate in effect
at the time of such termination or (ii) in the absence of any such employment or consulting agreement, document or policy (or the absence
of any definition of "Cause" contained therein), (A) a continuing material breach or material default (including, without
limitation, any material dereliction of duty) by Participant of any agreement between the Participant and the Company, except for any
such breach or default which is caused by the Participant's Disability, or a continuing failure by the Participant to follow the
direction of a duly authorized representative of the Company; (B) gross negligence, willful misfeasance or breach of fiduciary duty to
the Company or Affiliate by the Participant; (C) the commission by the Participant of an act of fraud, embezzlement or any felony or other
crime of dishonesty in connection with the Participant's duties to the Company or Affiliate; or (D) the Participant's conviction
of, or plea of *nolo contendere* to, a felony or any other crime that would materially and adversely affect: (i) the business reputation
of the Company or Affiliate or (ii) the performance of the Participant's duties to the Company or an Affiliate. Any determination
of whether Cause exists shall be made by the Administrator in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;2.8.  ***Change in Control*** shall, in the case of a particular Award, unless the applicable Award
Agreement provides otherwise or contains a different definition of "Change in Control" be deemed to occur upon:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8.1. A tender offer (or
series of related offers) which is made and consummated for the ownership of 50% or more of the outstanding voting securities of the Company,
unless as a result of such tender offer more than 50% of the outstanding voting securities of the surviving or resulting corporation or
entity are owned in the aggregate by (A) the shareholders of the Company (as of the time immediately prior to the commencement of such
offer), or (B) any employee benefit plan of the Company or its Subsidiaries, and their Affiliates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8.2. The consummation of the Company's merger or consolidation with another corporation, unless as a
result of such merger or consolidation, more than 50% of the outstanding voting securities of the surviving or resulting corporation or
entity shall be owned in the aggregate by (A) the shareholders of the Company (as of the time immediately prior to such transaction);
provided, that a merger or consolidation of the Company with another company which is controlled by persons owning more than 50% of the
outstanding voting securities of the Company shall constitute a Change in Control unless the Administrator, in its discretion, determine
otherwise, or (B) any employee benefit plan of the Company or its Subsidiaries, and their Affiliates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8.3. The consummation of the Company's sale of substantially all of its assets to another entity that
is not wholly owned by the Company, unless as a result of such sale more than 50% of such assets shall be owned in the aggregate by (A)
the shareholders of the Company (as of the time immediately prior to such transaction), or (B) any employee benefit plan of the Company
or its Subsidiaries, and their Affiliates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8.4. The consummation of a transaction, or series of transactions, in which a Person acquires 50% or more of
the outstanding voting securities of the Company (whether directly, indirectly, beneficially or of record), unless as a result of such
acquisition more than 50% of the outstanding voting securities of the surviving or resulting corporation or entity shall be owned in the
aggregate by (A) the shareholders of the Company (as of the time immediately prior to the first acquisition of such securities by such
Person), or (B) any employee benefit plan of the Company or its Subsidiaries, and their Affiliates; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8.5. The Incumbent Directors cease to constitute a majority of the Board for any reason.

For purposes of this Section 2.8, ownership of voting securities shall take into account and shall include ownership as determined by applying the provisions of Rule 13d-3(d)(1)(i) (as in effect on the date hereof) under the Exchange Act.

Notwithstanding the foregoing, if a Change in Control constitutes a payment event with respect to any Award or portion thereof that provides for the deferral of compensation that is subject to Section 409A, then to the extent required to avoid the imposition of additional taxes under Section 409A, the transaction or event described above in this Section 2.8 with respect to such Award or portion thereof shall only constitute a Change in Control for purposes of the payment timing of such Award if such transaction also constitutes a "change in control event," as defined in Treasury Regulation Section 1.409A-3(i)(5).

The Administrator shall have the authority, in its sole discretion, to determine whether a Change in Control has occurred, the effective date of such Change in Control, and any incidental matters relating thereto; provided that any exercise of authority in conjunction with a determination of whether a Change in Control is a "change in control event" as defined in Treasury Regulation Section 1.409A-3(i)(5) shall be consistent with such regulation.

&nbsp;&nbsp;&nbsp;&nbsp;2.9.  ***Clawback Policies*** means any policy of the Company regarding the reduction, recoupment, clawback
or recovery of compensation, as such policies may be amended from time to time. "Clawback Policies" includes the Company's
policies to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Sarbanes-Oxley Act, or other Applicable Law,
as well as any implementing regulations and/or listing standards.

&nbsp;&nbsp;&nbsp;&nbsp;2.10.  ***Code*** means the Internal Revenue Code of 1986, as amended, and any successor thereto. References
in this Plan to any section of the Code shall be deemed to include any regulations or other interpretative guidance issued by any governmental
authority under such section, and any amendments or successor provisions to such section, regulations or guidance.

&nbsp;&nbsp;&nbsp;&nbsp;2.11.  ***Committee*** means one or more committees or subcommittees of the Board, which shall be comprised,
unless otherwise determined by the Board, solely of not less than two members who shall be (i) Non-Employee Directors, and (ii) "Non-Employee
Directors" within the meaning of Rule 16b-3.

&nbsp;&nbsp;&nbsp;&nbsp;2.12.  ***Company*** means The Elmet Group Co., a Delaware corporation.

&nbsp;&nbsp;&nbsp;&nbsp;2.13.  ***Consultant*** means any person, including any adviser, engaged by the Company or a Subsidiary
to render services to such entity if the consultant or adviser: (i) renders bona fide services to the Company or a Subsidiary, (ii) renders
services not in connection with the offer or sale of securities in a capital-raising transaction and does not directly or indirectly promote
or maintain a market for the Company's securities, and (iii) who qualifies as a consultant or advisor under Instruction A.1.(a)(1)
of Form S-8 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;2.14.  ***Designated Beneficiary*** means, if permitted by the Company, the beneficiary or beneficiaries
the Participant designates, in a manner the Company determines, to receive amounts due or exercise the Participant's rights if the
Participant dies. If a Participant does not make an effective designation, then the "Designated Beneficiary" will mean the
Participant's estate or legal heirs.

&nbsp;&nbsp;&nbsp;&nbsp;2.15.  ***Director*** means a Board member.

&nbsp;&nbsp;&nbsp;&nbsp;2.16.  ***Disability*** means a permanent and total disability under Code Section 22(e)(3).

&nbsp;&nbsp;&nbsp;&nbsp;2.17.  ***Dividend Equivalents*** means a right granted to a Participant to receive the equivalent value
(in cash or Shares) of dividends paid on a specified number of Shares. Such Dividend Equivalents shall be converted to cash or additional
Shares, or a combination of cash and Shares, by such formula and at such time and subject to such limitations as may be determined by
the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;2.18.  ***Effective Date*** has the meaning ascribed to such term in Section 21.

&nbsp;&nbsp;&nbsp;&nbsp;2.19.  ***Employee*** means any employee of the Company or any of its Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;2.20.  ***ERISA*** means the Employee Retirement Income Security Act of 1974, as amended.

 ****

&nbsp;&nbsp;&nbsp;&nbsp;2.21.  ***Exchange Act*** means the United States Securities Exchange Act of 1934, as amended, and all
regulations, guidance, and other interpretive authority issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;2.22.  ***Fair Market Value*** means unless otherwise provided by the Administrator in accordance with
Applicable Law, on a given date, (i) if the Shares are listed on a national securities exchange, the closing sales price on the principal
exchange of the Shares on such date, as reported in *The Wall Street Journal* or another source the Administrator deems reliable,
or, in the absence of reported sales on such date, the closing sales price on the immediately preceding date on which sales were reported,
or (ii) if the Shares are not listed on a national securities exchange, the mean between the bid and offered prices as quoted by any nationally
recognized interdealer quotation system for such date, as reported in *The Wall Street Journal* or another source the Administrator
deems reliable, provided that if the Shares are not quoted on an interdealer quotation system or it is determined that the fair market
value is not properly reflected by such quotations, Fair Market Value will be determined by such other method as the Administrator determines
in good faith to be reasonable and in compliance with Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;2.23.  ***GAAP*** means United States Generally Accepted Accounting Principles.

&nbsp;&nbsp;&nbsp;&nbsp;2.24.  ***Greater Than 10% Shareholder*** means an individual then owning (within the meaning of Code
Section 424(d)) more than 10% of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;2.25.  ***Incentive Stock Option*** means an Option that meets the requirements to qualify as an "incentive
stock option" as defined in Code Section 422.

&nbsp;&nbsp;&nbsp;&nbsp;2.26.  ***Incumbent Directors*** means, for any period of 12 consecutive months, individuals who, at
the beginning of such period, constitute the Board together with any new Director(s) (other than a Director designated by a person who
shall have entered into an agreement with the Company to effect a transaction described in clause 2.8.1 or 2.8.3 of the Change in Control
definition) whose election or nomination for election to the Board was approved by a vote of at least a majority (either by a specific
vote or by approval of the proxy statement of the Company in which such person is named as a nominee for Director without objection to
such nomination) of the Directors then still in office who either were Directors at the beginning of the 12-month period or whose election
or nomination for election was previously so approved. No individual initially elected or nominated as a director of the Company as a
result of an actual or threatened election contest with respect to Directors or as a result of any other actual or threatened solicitation
of proxies by or on behalf of any person other than the Board shall be an Incumbent Director.

&nbsp;&nbsp;&nbsp;&nbsp;2.27.  ***Non-Employee Director*** means a Director who is not an Employee.

&nbsp;&nbsp;&nbsp;&nbsp;2.28.  ***Nonqualified Option*** means an Option that by its terms, or in operation, does not qualify
or is not intended to qualify as an Incentive Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;2.29.  ***Option*** means an Award granted pursuant to Section 6 hereof (excepting Stock Appreciation
Rights) to purchase a specified number of Shares at a specified price per Share during a specified time period, each as specified in an
Award Agreement. An Option may be either an Incentive Stock Option or a Nonqualified Option.

&nbsp;&nbsp;&nbsp;&nbsp;2.30.  ***Other Stock or Cash Based Awards*** means cash awards, awards of Shares, and other awards valued
by reference to or based on, Shares or other property.

&nbsp;&nbsp;&nbsp;&nbsp;2.31.  ***Parent*** means a "parent corporation," whether now or hereafter existing, as defined
by Code Section 424(e).

 ****

&nbsp;&nbsp;&nbsp;&nbsp;2.32.  ***Participant*** means a Service Provider who has been granted an Award.

&nbsp;&nbsp;&nbsp;&nbsp;2.33.  ***Performance Award*** means an Award granted hereunder that vests or is earned based at least
in part upon the attainment of performance criteria established by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;2.34.  ***Period of Restriction*** means the period during which the transfer of Restricted Stock is
subject to restrictions and a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of
certain performance criteria, or the occurrence of other events as determined by the Administrator.

 ****

&nbsp;&nbsp;&nbsp;&nbsp;2.35.  ***Person*** means as defined in Section 3(a)(9) of the Exchange Act, as modified and used in
Sections 13(d) and 14(d) thereof; however, a Person shall not include (A) the Company or any of its Subsidiaries; (B) a trustee or other
fiduciary holding securities under an employee benefit plan of the Company or any of its Subsidiaries; (C) an underwriter temporarily
holding securities pursuant to an offering of such securities; or (D) a corporation owned, directly or indirectly, by the shareholders
of the Company in substantially the same proportion as their ownership of stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;2.36.  ***Plan*** means this The Elmet Group Co. 2026 Equity Incentive Plan.

&nbsp;&nbsp;&nbsp;&nbsp;2.37.  ***Restricted Stock*** means Shares, subject to a Period of Restriction or certain other specified
restrictions (including, without limitation, a requirement that the Participant remain continuously employed or provide continuous service
for a specified period of time), granted under Section 7 or issued pursuant to the early exercise of an Option.

&nbsp;&nbsp;&nbsp;&nbsp;2.38.  ***Restricted Stock Unit*** or  ***RSU*** means an unfunded and unsecured promise to deliver
Shares, cash, other securities, or other property, subject to certain restrictions (including, without limitation, a requirement that
the Participant remain continuously employed or provide continuous service for a specified period of time), granted under Section 8.

&nbsp;&nbsp;&nbsp;&nbsp;2.39.  ***Restrictive Covenant*** means any non-competition, non-solicitation, confidentiality, non-disparagement,
non-disclosure, or similar agreement between a Participant and the Company or an Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;2.40.  ***Rule 16b-3*** means Rule 16b-3 promulgated under the Exchange Act, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;2.41.  ***Securities Act*** means the United States Securities Act of 1933, as amended, and all regulations,
guidance, and other interpretive authority issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;2.42.  ***Section 409A*** means Code Section 409A and the regulations and other guidance promulgated
thereunder by the United States Treasury Department, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;2.43.  ***Service Provider*** means an Employee, Consultant, or a Director.

&nbsp;&nbsp;&nbsp;&nbsp;2.44.  ***Share Limit*** has the meaning ascribed to such term in Section 5.1.

 ****

&nbsp;&nbsp;&nbsp;&nbsp;2.45.  ***Shares*** means shares of the common stock, par value $0.01 per share, of the Company (and
any stock or other securities into which such common shares may be converted or into which they may be exchanged).

&nbsp;&nbsp;&nbsp;&nbsp;2.46.  ***Stock Appreciation Right*** or  ***SAR*** means a right granted under Section 6 hereof
to receive a payment equal to the excess of the Fair Market Value of a specified number of Shares on the date the right is exercised over
the exercise price set forth in the applicable Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;2.47.  ***Subsidiary*** means a "subsidiary corporation," whether now or hereafter existing,
as defined by Code Section 424(f).

&nbsp;&nbsp;&nbsp;&nbsp;2.48.  ***Substitute Awards*** means Awards granted or Shares issued by the Company in assumption of,
or in substitution or exchange for, awards previously granted, or the right or obligation to make future awards, in each case by a company
or other entity acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines.

&nbsp;&nbsp;&nbsp;&nbsp;2.49.  ***Tax Obligations*** means any United States and non-United States federal, state, and/or local
taxes, including income tax, social insurance contributions, fringe benefit tax, employment tax, stamp tax, and any employer tax liability
which has been transferred to a Participant, for which a Participant is liable in connection with Awards and/or Shares.

&nbsp;&nbsp;&nbsp;&nbsp;2.50.  ***Termination of Service*** means the time at which a Participant has terminated from all service
with the Company and its Affiliates, for any reason. A Termination of Service shall occur when a Participant is no longer a Consultant,
Employee, or Non-Employee Director. The Company, in its sole discretion, shall make all determinations regarding whether a Termination
of Service has occurred.

**3.**  **<u>Eligibility</u>** 

Service Providers are eligible to receive Awards pursuant to the Plan, subject to the Plan's conditions and limitations. No Service Provider shall have any right to be granted an Award pursuant to the Plan, and neither the Company nor the Administrator is obligated to treat Service Providers, Participants, or other persons uniformly.

**4.**  **<u>Administration</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;4.1. <u>Generally</u>. The Plan will be administered by the Administrator. The Administrator is authorized,
subject to the provisions of the Plan, to establish such rules and regulations as it deems necessary for the proper administration of
the Plan and to make such determinations and interpretations, and to take such action in connection with the Plan and any benefits granted
hereunder as it deems necessary or advisable. Without limiting the foregoing, the Administrator shall have the sole discretion to (i)
designate Participants; (ii) determine the type or types of Awards to be granted to a Participant; (iii) determine the number of Shares
to be covered by, or with respect to which payments, rights, or other matters are to be calculated in connection with, Awards; (iv) determine
the terms and conditions of any Award; (v) determine whether, to what extent, and under what circumstances Awards may be settled or exercised
in cash, Shares, other securities, other Awards or other property, or canceled, forfeited, or suspended, and the method or methods by
which Awards may be settled, exercised, canceled, forfeited, or suspended; (vi) determine whether, to what extent, and under what circumstances
the delivery of cash, Shares, other securities, other Awards or other property and other amounts payable with respect to an Award shall
be made; (vii) interpret, administer, reconcile any inconsistency in, settle any controversy regarding, correct any defect in and/or complete
any omission in this Plan and any instrument or agreement relating to, or Award granted under, this Plan; (viii) establish, amend, suspend,
or waive any rules and regulations and appoint such agents as the Administrator shall deem appropriate for the proper administration of
this Plan; (ix) accelerate the vesting or exercisability of, payment for or lapse of restrictions on, Awards; (x) to reprice existing
Awards or to grant Awards in connection with or in consideration of the cancellation of an outstanding Award with a higher price; and
(xi) make any other determination and take any other action that the Administrator deems necessary or desirable for the administration
of the Plan. All determinations and interpretations made by the Administrator shall be binding and conclusive on all Participants and
their legal representatives.

&nbsp;&nbsp;&nbsp;&nbsp;4.2. <u>Delegation</u>. The Board or a Committee may delegate its powers and authorities to one or more Committees
or officers of the Company, provided, however, that no officer of the Company or any Subsidiary may be delegated authority to grant, amend,
modify, make any administrative determination to, or cancel any Awards held by either (A) any person subject to Section 16 of the Exchange
Act or (B) an officer who has been delegated any authority under the Plan. All delegations shall be subject to terms and conditions determined
by the Board or a Committee. Any delegation of authority under the Plan may be revoked at any time. Regardless of any delegation, the
Board or a Committee may act as the Administrator at any time in accordance with Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;4.3. <u>Liability</u>. Neither the Administrator nor any employee of the Company shall be liable for any act
or failure to act hereunder, except in circumstances involving his or her bad faith, gross negligence, or willful misconduct, or for any
act or failure to act hereunder by any other member or employee or by any agent to whom duties in connection with the administration of
this Plan have been delegated. The Company shall indemnify members of the Administrator and any agent of the Administrator who is an employee
of the Company, a Subsidiary, or an Affiliate against any and all liabilities or expenses to which they may be subjected by reason of
any act or failure to act with respect to their duties on behalf of the Plan, except in circumstances involving such person's bad
faith, gross negligence or willful misconduct.

&nbsp;&nbsp;&nbsp;&nbsp;4.4. <u>Administrative Delegation and Reliance</u>. The Administrator may delegate to one or more of its members,
or to one or more agents, such administrative duties as it may deem advisable, and the Administrator, or any person to whom it has delegated
duties as aforesaid, may employ one or more persons to render advice with respect to any responsibility the Administrator or such person
may have under the Plan. The Administrator may employ such legal or other counsel, consultants, and agents as it may deem desirable for
the administration of the Plan and may rely upon any opinion or computation received from any such counsel, consultant, or agent.

**5.**  **<u>Plan Limits</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;5.1. <u>Number of Shares Available for Issuance</u>. Subject to the provisions of Section 11, the maximum aggregate
number of Shares that may be issued under the Plan shall be the sum of (A) 3,616,003, plus (B) an increase commencing on January 1, 2027
and continuing annually on each anniversary thereof through and including January 1, 2036, equal to the lesser of (i) 3.0% of the Shares
outstanding on the last day of the immediately preceding calendar year and (ii) such smaller number of Shares as determined by the Board
or the Committee (the "  ***Share Limit*** "). The Shares subject to the Plan may be authorized, but unissued, or reacquired
shares.

&nbsp;&nbsp;&nbsp;&nbsp;5.2. <u>Share Recycling</u>. Upon payment in Shares pursuant to the exercise or settlement of an Award, the
number of Shares available for issuance under the Plan shall be reduced only by the number of Shares actually issued in such payment.
If a Participant pays the exercise price (or purchase price, if applicable) of an Award through the tender of Shares, or if the Shares
are tendered or withheld to satisfy any tax withholding obligations, the number of Shares so tendered or withheld shall again be available
for issuance pursuant to future Awards under the Plan, although such Shares shall not again become available for issuance as Incentive
Stock Options. Shares shall not be deemed to have been issued pursuant to the Plan with respect to any portion of an Award that is settled
in cash. If any outstanding Award expires or is terminated or canceled without having been exercised or settled in full, or if the Shares
acquired pursuant to an Award subject to forfeiture or repurchase are forfeited or repurchased by the Company, the Shares allocable to
the terminated portion of such Award or such forfeited or repurchased Shares shall again be available for grant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;5.3. <u>Incentive Stock Option Limit</u>. No more than 3,616,003 Shares (subject to adjustment pursuant to
Section 11) may be issued under the Plan upon the exercise of Incentive Stock Options.

&nbsp;&nbsp;&nbsp;&nbsp;5.4. <u>Substitute Awards</u>. Substitute Awards shall not be counted against the Share Limit; provided, however,
that Substitute Awards issued in connection with the assumption of, or in substitution for, outstanding Options intended to qualify as
Incentive Stock Options shall be counted against the Incentive Stock Option limit in Section 5.3. Additionally, Shares subject to Substitute
Awards shall not be added to the Shares available for Awards under the Plan pursuant to Section 5.2. If the Company or any Subsidiary
acquires or combines with a company that has shares available under an equity plan approved by shareholders and in place prior to such
acquisition or combination (and not adopted in contemplation of such acquisition or combination), the available shares under the acquired
or combined entity's plan (as appropriately adjusted to reflect the transaction) may be used for Awards under the Plan and shall
not count against the Share Limit (and Shares subject to such Awards may again become available for Awards under the Plan as provided
in Section 5.2). Awards made from the available shares of an acquired or combined entity's plan shall not be made after the date
awards or grants could not be under the terms of the acquired or combined entity's plan prior to the acquisition or combination,
and shall only be made to individuals who were not Service Providers prior to such acquisition or combination. Substitute Awards may be
granted on such terms and conditions as the Administrator deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;5.5. <u>Non-Employee Director Award Limit</u>. Notwithstanding any provision to the contrary in the Plan or
in any policy of the Company regarding Non-Employee Director compensation, the sum of the grant date fair value (determined as of the
grant date in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor thereto)
of all equity-based Awards and the maximum amount that may become payable pursuant to all cash-based Awards that may be granted to a Service
Provider as compensation for services as a Non-Employee Director during any calendar year shall not exceed $1,000,000 for such Service
Provider's first year of service as a Non-Employee Director and $750,000 for each year thereafter.

**6.**  **<u>Options and Stock Appreciation Rights</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;6.1. <u>General</u>. The Administrator, at any time and from time to time, may grant Options or Stock Appreciation
Rights under the Plan to Service Providers, provided, however, to the extent required to avoid accelerated taxation and/or tax penalties
under Section 409A, a Service Provider may only be granted an Option or Stock Appreciation Right if the Company is an "eligible
issuer of service recipient stock" within the meaning of Section 409A, with respect to such Service Provider. Each Option or Stock
Appreciation Right shall be subject to such terms and conditions consistent with the Plan as the Administrator may impose from time to
time, subject to the limitations in this Section 6. Any Option or Stock Appreciation Rights granted hereunder will be exercisable according
to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement.
Exercising an Option or Stock Appreciation Right in any manner will decrease the number of Shares thereafter available for purchase under
the Option or Stock Appreciation Right, by the number of Shares as to which the Option or Stock Appreciation Right is exercised.

&nbsp;&nbsp;&nbsp;&nbsp;6.2. <u>Exercise Price</u>. The per share exercise price for Shares to be issued pursuant to exercise of an
Option or Stock Appreciation Right will be determined by the Administrator; provided, however, that to avoid the imposition of taxes under
Section 409A, the exercise price per Share shall be no less than one hundred percent (100%) of the Fair Market Value per Share on the
date of grant, subject to Section 5.4. In the case of an Option or Stock Appreciation Right that is a Substitute Award, the exercise price
for Shares subject to such Option or Stock Appreciation Right may be less than the Fair Market Value per Share on the date of grant; provided
that the exercise price of any Substitute Award shall be determined in accordance with the applicable requirements of Code Sections 424
and 409A.

&nbsp;&nbsp;&nbsp;&nbsp;6.3. <u>Exercise Period</u>. Options and Stock Appreciation Rights shall be exercisable at such time or times
and subject to such terms and conditions as shall be determined by the Administrator; provided, however, that no Option or Stock Appreciation
Right shall be exercisable later than ten (10) years after the date it is granted. No portion of an Option or Stock Appreciation Right
which is unexercisable at a Participant's Termination of Service shall thereafter become exercisable and the portion of an Option
or Stock Appreciation Right which is unexercisable at a Participant's Termination of Service shall automatically expire on the date
of such Termination of Service. Options and Stock Appreciation Rights granted to an Employee who is a non-exempt employee for purposes
of overtime pay under the United States Fair Labor Standards Act of 1938 shall not become exercisable earlier than six months after its
date of grant. Options and Stock Appreciation Rights shall terminate at such earlier times and upon such conditions or circumstances as
the Administrator shall in its discretion set forth in such Award Agreement at the date of grant; provided, however, the Administrator
may, in its sole discretion, later waive any such condition. If, prior an Option's or Stock Appreciation Right's exercise
and prior to its termination, a Participant commits an act of Cause (to be determined by the Administrator), or violates a Restrictive
Covenant, the Administrator may terminate the Participant's right to exercise the Option or Stock Appreciation Right when it reasonably
believes that the Participant may have participated in such act or violation.

&nbsp;&nbsp;&nbsp;&nbsp;6.4. <u>Exercise</u>. Options and Stock Appreciation Rights may be exercised by delivering to the Company (or
such other person or entity designated by the Administrator) a notice of exercise, in a form and manner the Company approves, which may
be written or electronic, signed or authenticated by the person authorized to exercise the Option or Stock Appreciation Right, together
with, as applicable, (a) payment in full of the exercise price for the number of Shares for which the Option is exercised in a manner
consistent with Section 6.5 and (b) satisfaction in full of any withholding obligations for Tax Obligations in a manner specified in Section
12.5. The Administrator may, in its discretion, require that any partial exercise of an Option or Stock Appreciation Right be with respect
to a minimum number of Shares.

&nbsp;&nbsp;&nbsp;&nbsp;6.5. <u>Payment Upon Exercise</u>. To the extent permitted by Applicable Law, the Participant may pay the Option
exercise price by cash, wire transfer, or check and, if approved by the Administrator, as determined in its sole discretion, by the following
methods:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.1. surrender of other Shares that meet the conditions established by the Administrator to avoid adverse accounting
consequences to the Company (as determined by the Administrator);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.2. by a broker-assisted cashless exercise in accordance with procedures approved by the Administrator, whereby
payment of the exercise price may be satisfied, in whole or in part, with Shares subject to the Option by delivery of an irrevocable direction
to a securities broker (on a form prescribed by the Administrator) to sell Shares and to deliver all or part of the sale proceeds to the
Company in payment of the aggregate exercise price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.3. for a Nonqualified Option, by delivery of a notice of "net exercise" to the Company, pursuant
to which the Participant shall surrender Shares then issuable upon the Nonqualified Option's exercise valued at their Fair Market
Value on the exercise date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.4. such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable
Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.5. any combination of the foregoing methods of payment.

&nbsp;&nbsp;&nbsp;&nbsp;6.6. <u>Incentive Stock Options</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.1. Each Option will be designated in the Award Agreement as either an Incentive
Stock Option or a Nonqualified Option. However, notwithstanding such designation, to the extent that the aggregate Fair Market Value of
the Shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year
(under all plans of the Company, its Parent, or any Subsidiary) exceeds $100,000 (or such other limit established in the Code), such Options
will be treated as Nonqualified Options. For purposes of this Section 6.6.1, Incentive Stock Options will be taken into account in the
order in which they were granted. The Fair Market Value of the Shares will be determined as of the time the Option is granted .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.2. In the case of an Incentive Stock Option, the exercise price will be determined
by the Administrator, but shall be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. The
term of any Incentive Stock Option will be ten (10) years from the date of grant or such shorter term as may be provided in the Award
Agreement. Moreover, in the case of an Incentive Stock Option granted to a Greater Than 10% Shareholder, the term of the Incentive Stock
Option will be five (5) years from the date of grant or such shorter term as may be provided in the Award Agreement and the exercise price
shall not be less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.3. No Option shall be treated as an Incentive Stock Option unless this Plan
has been approved by the shareholders of the Company in a manner intended to comply with the shareholder approval requirements of Code
Section 422(b)(1), provided that any Option intended to be an Incentive Stock Option shall not fail to be effective solely on account
of a failure to obtain such approval, but rather such Option shall be treated as a Nonqualified Option unless and until such approval
is obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.4. In the case of an Incentive Stock Option, the terms and conditions of such grant shall be subject to and
comply with such rules as may be prescribed by Code Section 422. If for any reason an Option intended to be an Incentive Stock Option
(or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option or
portion thereof shall be regarded as a Nonqualified Option appropriately granted under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.5. By accepting an Incentive Stock Option, the Participant agrees to give prompt notice to the Company of
dispositions or other transfers (other than in connection with a Change in Control) of Shares acquired under the Option made within the
later of (a) two years from the grant date of the Option or (b) one year after the transfer of such Shares to the Participant, specifying
the date of the disposition or other transfer and the amount the Participant realized, in cash, other property, or other consideration,
in such disposition or transfer. Neither the Company nor the Administrator will be liable to a Participant, or any other party, if an
Incentive Stock Option fails or ceases to qualify as an "incentive stock option" under Code Section 422. Any Incentive Stock
Option or portion thereof that fails to qualify as an "incentive stock option" under Code Section 422 for any reason, will
be a Nonqualified Option.

**7.**  **<u>Restricted Stock</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;7.1. <u>Generally</u>. The Administrator, at any time and from time to time, may grant Restricted Stock to
Service Providers in such amounts as the Administrator, in its sole discretion, will determine, subject to the limitations of this Section
7. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period of Restriction and the applicable
restrictions, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine.
Restricted Stock may be awarded in consideration for (i) cash, check, bank draft or money order payable to the Company, (ii) past service,
or (iii) any other form of legal consideration (including future Service) that may be acceptable to the Administrator, in its sole discretion,
and permissible under Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;7.2. <u>Restrictions; Voting Rights; Transferability</u>. Unless the Administrator determines otherwise, Restricted
Stock will be held by the Company as escrow agent until the restrictions on such Restricted Stock have lapsed. The Administrator, in its
discretion, may accelerate the time at which any restrictions will lapse or be removed. During the Period of Restriction, a Participant
holding Restricted Stock may exercise the voting rights applicable to those restricted Shares, unless the Administrator determines otherwise.
Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable
Period of Restriction.

&nbsp;&nbsp;&nbsp;&nbsp;7.3. <u>Dividends and Other Distributions</u>. Except as provided in the Award Agreement, during the Period
of Restriction, a Participant holding Restricted Stock will be entitled to receive all dividends and other distributions paid with respect
to such Restricted Stock. If any such dividends or distributions are paid in Shares, such Shares will be subject to the same restrictions
on transferability and forfeitability as the Restricted Stock with respect to which they were paid.

&nbsp;&nbsp;&nbsp;&nbsp;7.4. <u>Return of Restricted Stock to the Company</u>. On the date set forth in the Award Agreement, the Restricted
Stock for which restrictions have not lapsed will be forfeited and will revert to the Company and again will become available for grant
under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;7.5. <u>Section 83(b) Election</u>. If a Participant makes an election under Code Section 83(b) to be taxed
with respect to the Restricted Stock as of the date of transfer of the Restricted Stock rather than as of the date or dates upon which
such Participant would otherwise be taxable under Code Section 83(a), such Participant shall be required to deliver a copy of such election
to the Company promptly after filing such election with the Internal Revenue Service along with proof of the timely filing thereof.

**8.**  **<u>Restricted Stock Units (RSUs)</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;8.1. <u>Generally</u>. The Administrator, at any time and from time to time, may grant RSUs under the Plan
to Service Providers. Each RSU shall be subject to such terms and conditions as are consistent with the Plan and as the Administrator
may impose from time to time, subject to this Section 8. Each Award of RSUs will be evidenced by an Award Agreement that will specify
the terms, conditions, and restrictions related to the grant, including the number of RSUs and such other terms and conditions as the
Administrator, in its sole discretion, will determine. A Participant holding RSUs will have only the rights of a general unsecured creditor
of the Company until delivery of Shares, cash, other securities, other property, or a combination of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;8.2. <u>Vesting and Other Terms</u>. The Administrator will set vesting criteria in its discretion, which,
depending on the extent to which the criteria are met, will determine the number of RSUs that will be paid out to the Participant. Upon
meeting the applicable vesting criteria, the Participant will be entitled to receive a payout as determined by the Administrator. Notwithstanding
the foregoing, at any time after the grant of RSUs, the Administrator, in its sole discretion, may reduce or waive any vesting criteria
that must be met to receive a payout.

&nbsp;&nbsp;&nbsp;&nbsp;8.3. <u>Form and Timing of Payment</u>. Payment of earned RSUs will be made as soon as practicable after the
date(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may settle earned
RSUs in Shares, cash, other securities, other property, or a combination of the foregoing. If a cash payment is made in lieu of delivering
Shares, the amount of such payment shall be equal to the fair market value of the Shares as of the date on which the restricted period
lapsed with respect to such RSUs, less an amount equal to any taxes required to be withheld or paid. The Administrator may provide that
RSUs will be deferred, on a mandatory basis or at the Participant's election, subject to compliance with Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;8.4. <u>Voting</u>. The holders of RSUs shall have no voting rights as the Company's shareholders.

**9.**  **<u>Performance Awards</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;9.1. <u>Generally</u>. The Administrator shall have the authority to designate any Award described in Sections
6 through 8 of the Plan as a Performance Award. Additionally, the Administrator shall have the authority to make an award of a cash bonus
to any Participant and designate such Award as a Performance Award.

&nbsp;&nbsp;&nbsp;&nbsp;9.2. <u>Discretion of Administrator</u>. The Administrator shall have the discretion to establish the terms,
conditions, and restrictions of any Performance Award. For each performance period, the Administrator shall have the sole authority to
select the length of such performance period, the types of Performance Awards to be granted, the performance criteria that will be used
to establish the performance goals, and the level(s) of performance which shall result in a Performance Award being earned.

&nbsp;&nbsp;&nbsp;&nbsp;9.3. <u>Performance Criteria</u>. The Administrator may establish performance-based conditions for an Award
as specified in the Award Agreement, which may be based on the attainment of specific levels of performance of the Company (and/or one
or more Subsidiaries, divisions, business segments or operational units, or any combination of the foregoing) and may include, without
limitation, any of the following: (i) net earnings or net income (before or after taxes); (ii) basic or diluted earnings per share (before
or after taxes); (iii) revenue or revenue growth (measured on a net or gross basis); (iv) gross profit or gross profit growth; (v) operating
profit (before or after taxes); (vi) return measures (including, but not limited to, return on assets, capital, invested capital, equity,
or sales); (vii) cash flow (including, but not limited to, operating cash flow, free cash flow, net cash provided by operations and cash
flow return on capital); (viii) financing and other capital raising transactions (including, but not limited to, sales of the Company's
equity or debt securities); (ix) earnings before or after taxes, interest, depreciation and/or amortization; (x) gross or operating margins;
(xi) productivity ratios; (xii) share price (including, but not limited to, growth measures and total shareholder return); (xiii) expense
targets; (xiv) margins; (xv) productivity and operating efficiencies; (xvi) customer satisfaction; (xvii) customer growth; (xviii) working
capital targets; (xix) measures of economic value added; (xx) inventory control; (xxi) enterprise value; (xxii) sales; (xxiii) debt levels
and net debt; (xxiv) combined ratio; (xxv) timely launch of new facilities; (xxvi) client retention; (xxvii) employee retention; (xxviii)
timely completion of new product rollouts; (xxix) cost targets; (xxx) reductions and savings; (xxxi) productivity and efficiencies; (xxxii)
strategic partnerships or transactions; and (xxxiii) personal targets, goals or completion of projects. Any one or more of the performance
criteria may be used on an absolute or relative basis to measure the performance of the Company and/or one or more Subsidiaries as a whole
or any business unit(s) of the Company and/or one or more Subsidiaries or any combination thereof, as the Administrator may deem appropriate,
or any of the above performance criteria may be compared to the performance of a selected group of comparison or peer companies, or a
published or special index that the Administrator, in its sole discretion, deems appropriate, or as compared to various stock market indices.
The Administrator also has the authority to provide for accelerated vesting of any Award based on the achievement of performance criteria
specified in this paragraph. Any performance criteria that are financial metrics, may be determined in accordance with GAAP or may be
adjusted when established to include or exclude any items otherwise includable or excludable under GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;9.4. <u>Modification of Performance Goals</u>. At any time, the Administrator may adjust or modify the calculation
of a performance goal for a performance period, to appropriately reflect any circumstance or event that occurs during a performance period
and that in the Administrator's sole discretion, warrants adjustment or modification. Adjustments the Administrator may make include
but are not limited to the following: (i) asset write-downs; (ii) litigation or claim judgments or settlements; (iii) the effect of changes
in tax laws, accounting principles, or other laws or regulatory rules affecting reported results; (iv) any reorganization and restructuring
programs; (v) unusual and/or infrequently occurring items; (vi) acquisitions or divestitures; (vii) discontinued operations; (viii) any
other specific unusual or infrequently occurring or non-recurring events, or objectively determinable category thereof; (ix) foreign exchange
gains and losses; and (x) a change in the Company's fiscal year.

&nbsp;&nbsp;&nbsp;&nbsp;9.5. <u>Terms and Conditions to Payment</u>. Except as otherwise provided in an Award Agreement, a Participant
must be employed by the Company on the last day of a performance period to be eligible to vest and receive Shares, cash, or other consideration
in respect of a Performance Award for such performance period. A Participant shall be eligible to receive payment in respect of a Performance
Award only to the extent that the performance goals for such period are achieved and any other vesting conditions specified in the Participant's
Award Agreement are satisfied. Following the completion of a performance period, the Administrator shall determine whether, and to what
extent, the performance goals for the performance period have been achieved and determine the number of Shares, cash or other consideration
that will be settled pursuant to Performance Awards.

&nbsp;&nbsp;&nbsp;&nbsp;9.6. <u>Timing of Award Payments</u>. Except as provided in an Award agreement, Performance Awards granted
for a performance period shall be paid to Participants as soon as administratively practicable following the Administrator's determination
in accordance with Section 9.5.

**10.**  **<u>Other Awards</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;10.1. <u>General</u>. The Administrator may grant Dividend Equivalents or Other Stock or Cash Based Awards,
to one or more Service Providers, in such amounts and subject to such terms and conditions as are consistent with the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;10.2. <u>Dividend Equivalents</u>. The Administrator may provide that any Award, other than an Option or Stock
Appreciation Right, may provide a Participant with the right to receive Dividend Equivalents. Dividend Equivalents may be paid currently
or credited to an account for the Participant, settled in cash or Shares and subject to the same restrictions on transferability and forfeitability
as the Award with respect to which the Dividend Equivalents are granted. The payment of Dividend Equivalents shall be specified in the
applicable Award Agreement and shall in all cases be subject to Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;10.3. <u>Other Stock or Cash Based Awards</u>. Other Stock-Based Awards may be granted either alone, in addition
to, or in tandem with, other Awards granted under the Plan and/or cash awards made outside of the Plan. The Administrator shall have authority
to determine the Service Providers to whom and the time or times at which Other Stock-Based Awards shall be made, the amount of such Other
Stock-Based Awards, and all other conditions of the Other Stock-Based Awards including any dividend and/or voting rights. The Administrator
may grant Cash Awards in such amounts and subject to such performance or other vesting criteria and terms and conditions as the Administrator
may determine. Cash Awards shall be evidenced in such form as the Administrator may determine.

**11.**  **<u>Adjustments; Change in Control</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;11.1. <u>Adjustments</u>. In the event that any dividend or other distribution (whether in the form of cash,
Shares, other securities, or other property), recapitalization, share split, reverse share split, reorganization, merger, consolidation,
split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate
structure of the Company affecting the Shares occurs such that an adjustment is determined by the Administrator (in its sole discretion)
to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under
the Plan, then the Administrator shall, in such manner as it may deem equitable, adjust (i) the number and class of Shares which
may be delivered under the Plan (or number and kind of other securities or other property); (ii) the number, class and price (including
the exercise or strike price of Options and SARs) of Shares subject to outstanding Awards, (iii) any applicable performance criteria,
performance period, and other terms and conditions of outstanding Performance Awards, and (iv) the numerical limits in Section 5. Notwithstanding
the preceding, the number of Shares subject to any Award always shall be a whole number.

&nbsp;&nbsp;&nbsp;&nbsp;11.2. <u>Dissolution or Liquidation</u>. In the event of the proposed dissolution or liquidation of the Company,
the Administrator will notify each Participant as soon as practicable prior to the effective date of such proposed transaction. The Administrator
in its discretion may provide for a Participant to have the right to exercise an Award, to the extent applicable, until ten (10) days
prior to such transaction as to all of the Shares covered thereby, including Shares as to which the Award would not be vested or otherwise
be exercisable. In addition, the Administrator may provide that any Company repurchase option or forfeiture rights applicable to any Award
shall lapse one hundred percent (100%), and that any Award vesting shall accelerate one hundred percent (100%), provided the proposed
dissolution or liquidation takes place at the time and in the manner contemplated. To the extent it has not been previously vested and,
if applicable, exercised, an Award will terminate immediately prior to the consummation of such proposed action.

&nbsp;&nbsp;&nbsp;&nbsp;11.3. <u>Change in Control</u>. In the event of a Change in Control, any outstanding Award shall be treated
in accordance with the applicable Award Agreement. If the applicable Award Agreement does not specify the treatment of the Award in a
Change in Control, the Award shall be treated as determined by the Administrator in its sole discretion, and the Administrator shall not
be obligated to treat all outstanding Awards similarly.

**12.**  **<u>Provisions Applicable to Awards</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;12.1. <u>Conditions Upon Issuance of Shares</u>. Shares will not be issued pursuant to an Award unless the exercise
of such Award and the issuance and delivery of such Shares will comply with Applicable Law and will be further subject to the approval
of counsel for the Company with respect to such compliance. As a condition to the exercise or receipt of an Award, the Company may require
the person exercising or receiving such Award to represent and warrant at the time of any such exercise or receipt that the Shares are
being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel
for the Company, such a representation is required or desirable.

&nbsp;&nbsp;&nbsp;&nbsp;12.2. <u>Transferability</u>. No Award may be sold, assigned, transferred, pledged or otherwise encumbered,
either voluntarily or by operation of law, except by will or the laws of descent and distribution. Each Participant may file with the
Administrator a written designation of one or more persons as the beneficiary(ies) who shall be entitled to receive the amounts payable
with respect to an Award, if any, due under this Plan upon his or her death. A Participant may, from time to time, revoke or change his
or her beneficiary designation without the consent of any prior beneficiary by filing a new designation with the Administrator. The last
such designation filed with the Administrator shall be controlling; provided, however, that no designation, or change or revocation thereof,
shall be effective unless received by the Administrator prior to the Participant's death, and in no event shall it be effective
as of a date prior to such receipt. If no beneficiary designation is filed by a Participant, the beneficiary shall be deemed to be his
or her spouse or, if the Participant is unmarried at the time of death, his or her estate. Upon the occurrence of a Participant's
divorce (as evidenced by a final order or decree of divorce), any spousal designation previously given by such Participant shall automatically
terminate.

&nbsp;&nbsp;&nbsp;&nbsp;12.3. <u>Documentation</u>. All Awards made under the Plan shall be made pursuant to an Award Agreement. The
Administrator may, in its sole discretion, determine the terms and conditions set forth in each Award Agreement, provided that all such
terms and conditions are consistent with the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;12.4. <u>Discretion</u>. All Awards made pursuant to the Plan may be made alone or in addition to or in conjunction
with any other Award. The terms of each Award are not required to be identical, and the Administrator does not have to treat Participants
or Awards uniformly.

&nbsp;&nbsp;&nbsp;&nbsp;12.5. <u>Withholding</u>. A Participant shall be required to pay to the Company or any Affiliate, or the Company
or any Affiliate shall have the right and is hereby authorized to withhold, from any cash, Shares, other securities or other property
deliverable under any Award or from any compensation or other amounts owing to a Participant, the amount (in cash, Shares, other securities
or other property) of any required withholding taxes, including any Tax Obligations, in respect of an Award, its exercise, or any payment
or transfer under an Award or under this Plan and to take such other action as may be necessary in the opinion of the Administrator or
the Company to satisfy all obligations for the payment of such withholding and taxes. In addition, the Administrator, in its discretion,
may make arrangements mutually agreeable with a Participant who is not an employee of the Company or an Affiliate to facilitate the payment
of applicable income and self-employment taxes. Without limitation, the Administrator may, in its sole discretion, permit a Participant
to satisfy, in whole or in part, the foregoing withholding liability by (A) the delivery of Shares (which are not subject to any pledge
or other security interest) owned by the Participant having a fair market value equal to such withholding liability, (B) having the Company
withhold from the number of Shares otherwise issuable or deliverable pursuant to the exercise or settlement of the Award a number of shares
with a fair market value equal to such withholding liability, (C) deducting an amount sufficient to satisfy such withholding obligation
from any payment of any kind otherwise due to a Participant, (D) accepting a payment from the Participant in cash, by wire transfer of
immediately available funds, or by check made payable to the order of the Company, or (E) if there is a public market for Shares at the
time the withholding obligation for Tax Obligations is to be satisfied, selling Shares issued pursuant to the Award creating the withholding
obligation. The amount withheld pursuant to any of the foregoing payment forms shall be determined by the Company and may be up to (but
not in excess of) the aggregate amount of such obligations based on the maximum statutory withholding rates in the Participant's
jurisdiction for all Tax Obligations that are applicable to such taxable income.

&nbsp;&nbsp;&nbsp;&nbsp;12.6. <u>Award Modification; Repricing</u>. The Administrator may at any time, and from time to time, amend
the terms of any one or more Awards without the consent of any Participant; provided, however, that the Administrator may not make any
amendment which would otherwise constitute an impairment of the material rights under any Award unless the Participant consents to such
impairment in writing. Notwithstanding anything to the contrary in Section 4 and except for an adjustment pursuant to Section 11 or a
repricing approved by shareholders, in no case may the Administrator (i) amend an outstanding Option or Stock Appreciation Right to reduce
the exercise price of the Award, (ii) cancel, exchange, or surrender an outstanding Option or Stock Appreciation Right in exchange for
cash or other awards for the purpose of repricing the Award, or (iii) cancel, exchange, or surrender an outstanding Option or Stock Appreciation
Right in exchange for an Option or Stock Appreciation Right with an exercise price that is less than the exercise price of the original
Award.

&nbsp;&nbsp;&nbsp;&nbsp;12.7. <u>Acceleration</u>. The Administrator may at any time provide that any Award will become immediately
vested and fully or partially exercisable, free of some or all restrictions or conditions, or otherwise fully or partially realizable,
in each case, subject to Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;12.8. <u>Fractional Shares</u>. No fractional Shares shall be issued or delivered pursuant to the Plan. The
Administrator shall determine whether cash, additional Awards, or other property shall be issued or paid in lieu of fractional Shares
or whether any fractional Shares should be rounded, forfeited, or otherwise eliminated.

**13.**  **<u>Section 409A</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;13.1. <u>General</u>. The Plan is intended to comply with Section 409A to the extent subject thereto, and shall
be interpreted and administered to be in compliance therewith. Any payments described in the Plan that are due within the "short-term
deferral period" (as defined in Section 409A) shall not be treated as deferred compensation unless Applicable Law requires otherwise.
Notwithstanding anything in the Plan or any Award Agreement to the contrary, the Administrator may, without a Participant's consent,
amend this Plan or any Award, adopt policies and procedures, make corrective filings, or take any other actions (including amendments
and retroactive actions) as are necessary or appropriate to preserve the intended tax treatment of Awards, including exempting the Plan
and Awards from Section 409A or complying with 409A.

&nbsp;&nbsp;&nbsp;&nbsp;13.2. <u>Payments to Specified Employees</u>. Notwithstanding anything in the Plan or an Award Agreement to
the contrary, any payment or settlement made pursuant to an Award to a "specified employee" (as defined by Section 409A and
as determined by the Administrator) due to such Participant's "separation from service" (as defined by Section 409A)
will, to the extent necessary to avoid adverse tax consequences to the Participant, be delayed for the six-month period immediately following
such "separation from service (or, if earlier, on the "specified employee's" death) and will instead be paid on
the day immediately following such six-month period or as soon as practicable thereafter. Any delayed payment under this Section 13.2
shall not accrue interest during the delay. All payments of "nonqualified deferred compensation" (as defined by Section 409A)
that are scheduled to be paid more than six months following a "specified employee's" termination, shall be made on
their regular schedule.

&nbsp;&nbsp;&nbsp;&nbsp;13.3. <u>Change in Control</u>. If any Award is or becomes subject to Code Section 409A and if payment of such
Award would be accelerated or otherwise triggered under a Change in Control, then the definition of Change in Control shall be deemed
modified, only to the extent necessary to avoid the imposition of an excise tax under Code Section 409A, to mean a "change in control
event" as such term is defined for purposes of Code Section 409A.

**14.**  **<u>Amendment of the Plan</u>** 

The Board may at any time amend, alter, suspend, or terminate the Plan. The Company may obtain shareholder approval of any Plan amendment to the extent necessary or, as determined by the Administrator in its sole discretion, desirable to comply with Applicable Law, including any amendment that (i) increases the number of Shares available for issuance under the Plan or (ii) changes the persons or class of persons eligible to receive Awards. No amendment, alteration, suspension, or termination of the Plan will materially impair the rights of any Participant with respect to outstanding Awards, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator's ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination.

**15.**  **<u>Foreign Participants</u>** 

The Administrator may from time to time establish sub-plans under the Plan for purposes of satisfying securities, tax, or other laws of various jurisdictions in which the Company intends to grant Awards. Any sub-plans shall contain such limitations and other terms and conditions as the Administrator determines are necessary or desirable. All sub-plans shall be deemed a part of the Plan, but each sub-plan shall apply only to the Participants in the jurisdiction for which the sub-plan was designed.

**16.**  **<u>Clawbacks</u>** 

Notwithstanding any other provisions in the Plan, the Administrator may cancel any Award, require reimbursement of any Award, and effect any other right of recoupment of equity or other compensation provided under the Plan in accordance with Company policies, including the Company's Clawback Policies. A Participant may be required to repay to the Company previously paid compensation, whether provided pursuant to the Plan or an Award Agreement, in accordance with the Clawback Policies. By accepting an Award, the Participant agrees to be bound by the Clawback Policies and to adhere to the Clawback Policies to the extent required by Applicable Law.

**17.**  **<u>No Right to Continued Service</u>** 

Nothing in the Plan or any instrument executed or Award granted pursuant thereto shall confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Award was granted or shall affect the right of the Company or an Affiliate to terminate (i) a Participant's employment with or without notice and with or without Cause, or (ii) a Participant's service as a Consultant or Director.

**18.**  **<u>No Rights as a Shareholder</u>** 

Except as provided in the Plan or an Award Agreement, no Participant shall be deemed to be the holder of, or to have any of the rights of a holder with respect to, any Shares subject to such Award unless and until such Participant has satisfied all requirements for exercise of the Award pursuant to its terms and no adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities, or other property) or distributions of other rights for which the record date is prior to the date such Share certificates are issued, except as provided in Section 11.

**19.**  **<u>Miscellaneous</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;19.1. <u>Limitations on Liability</u>. Neither the Company, nor its Parent, nor any Subsidiary, nor any person
serving as Administrator shall have any liability to a Participant in the event an Award held by the Participant fails to achieve its
intended characterization under the tax, securities, or other applicable laws and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;19.2. <u>Inability to Obtain Authority</u>. The inability of the Company to obtain authority from any regulatory
body having jurisdiction, which authority is deemed by the Company's counsel to be necessary to the lawful issuance and sale of
any Shares hereunder, will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such
requisite authority will not have been obtained.

&nbsp;&nbsp;&nbsp;&nbsp;19.3. <u>Severability</u>. Notwithstanding any contrary provision of the Plan or an Award Agreement, if any
one or more of the provisions (or any part thereof) of this Plan or an Award Agreement shall be held invalid, illegal, or unenforceable
in any respect, such provision shall be modified so as to make it valid, legal, and enforceable, and the validity, legality, and enforceability
of the remaining provisions (or any part thereof) of the Plan or Award Agreement, as applicable, shall not in any way be affected or impaired
thereby.

&nbsp;&nbsp;&nbsp;&nbsp;19.4. <u>Governing Documents</u>. The Plan and each Award Agreement evidencing an Award are intended to be read
together, and together, set forth the complete terms and conditions of each Award. To the extent of any contradiction between the Plan
and any Award Agreement or other written agreement between a Participant and the Company, the Plan will govern unless the Award Agreement
or other written agreement was approved by the Administrator and expressly provides that a specific provision of the Plan will not apply.

&nbsp;&nbsp;&nbsp;&nbsp;19.5. <u>Governing Law</u>. The Plan will be governed by and construed in accordance with the internal laws
of the State of Delaware, without reference to any choice of law principles.

&nbsp;&nbsp;&nbsp;&nbsp;19.6. <u>Waiver of Jury Trial</u>. EACH PARTICIPANT WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN RESPECT
OF ANY LITIGATION BASED ON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THE PLAN.

&nbsp;&nbsp;&nbsp;&nbsp;19.7. <u>Waiver of Claims</u>. Each Participant of an Award recognizes and agrees that before being selected
by the Administrator to receive an Award, the Participant has no right to any benefits under the Plan. Accordingly, in consideration of
the Participant's receipt of any Award hereunder, the Participant expressly waives any right to contest the amount of any Award,
the terms of any Award Agreement, any determination, action, or omission hereunder or under any Award Agreement by the Administrator,
the Company, or the Board, or any amendment to the Plan or any Award Agreement (other than an amendment to the Plan or an Award Agreement
to which his or her consent is expressly required). Nothing contained in this Plan, and no action taken pursuant to its provisions, will
create or be construed to create a trust of any kind or a fiduciary relationship between the Company and any Participant. The Plan is
not intended to be subject to ERISA.

&nbsp;&nbsp;&nbsp;&nbsp;19.8. <u>No Third-Party Beneficiaries</u>. Except as expressly provided in an Award Agreement, neither the Plan
nor any Award Agreement will confer on any person other than the Company and the Participant of any Award any rights or remedies thereunder.
The provisions of Section 4.3 will inure to the benefit of the estate, beneficiaries, and legatees of any member of the Administrator
and the Board, and any person to whom the Administrator or the Board delegates its powers, responsibilities, or duties in writing.

&nbsp;&nbsp;&nbsp;&nbsp;19.9. <u>Data Privacy</u>. As a condition for receiving any Award, each Participant explicitly and unambiguously
consents to the collection, use, and transfer, in any form, of personal data as described in this section by and among the Company and
its Subsidiaries, Affiliates, and their agents exclusively for implementing, administering, and managing the Participant's participation
in the Plan. The Company, its Subsidiaries, and Affiliates may hold certain personal information about a Participant, including the Participant's
name, address, telephone number, birthday, social security or other identification number, salary, nationality, job title(s), any Shares
held in the Company, its Subsidiaries, and Affiliates, and Award details to implement, manage, and administer the Plan and Awards (the
"  ***Data*** "). The Company, its Subsidiaries, and Affiliates may transfer the Data amongst themselves as necessary
to implement, administer, and manage a Participant's participation in the Plan, and the Company, its Subsidiaries, and Affiliates
may transfer the Data to third parties assisting the Company with Plan implementation, administration, and management. These third-party
recipients may be located in the United States or elsewhere, and the applicable location may be subject to different data privacy laws
than the Participant's home country. By accepting an Award, each Participant authorizes each recipient to receive, possess, use,
retain, and transfer the Data, in electronic or other form, to implement, administer, and manage the Participant's participation
in the Plan, including any required Data transfer to a broker or other thirty party with whom the Company or the Participant may elect
to deposit any Shares. The Data related to a Participant will be held only as long as necessary to implement, administer, and manage the
Participant's participation in the Plan. A Participant may, at any time, view the Data that the Company holds regarding such Participant,
request additional information about the storage and processing of the Data regarding such Participant, recommend any necessary corrections
to the Data regarding the Participant, or refuse or withdraw the consents in this section in writing, without cost, by contacting the
local human resources representative. The Company may cancel the Participant's ability to participate in the Plan and, in the Administrator's
discretion, the Participant may forfeit any outstanding Awards if the Participant refuses or withdraws the consents in this section.

&nbsp;&nbsp;&nbsp;&nbsp;19.10. <u>Titles and Headings</u>. The titles and headings in the Plan are for purposes of convenience only and
are not intended to define or limit the construction of the provisions hereof.

&nbsp;&nbsp;&nbsp;&nbsp;19.11. <u>Intended to Comply with Applicable Law</u>. The Plan and all Awards granted hereunder are intended
to fully comply with Applicable Law. All administrative actions, determinations, and exercises of discretion by the Administrator shall
comply with Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;19.12. <u>Relationship to Other Benefits</u>. No payment pursuant to the Plan shall be taken into account in
determining any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare, or other benefit plan of the
Company or any Affiliate except to the extent otherwise expressly provided in writing in such other plan or agreement thereunder.

**20.**  **<u>Shareholder Approval</u>** 

The Plan will be subject to approval by the shareholders of the Company within twelve (12) months after the date the Plan is adopted. Such shareholder approval will be obtained in the manner and to the degree required under Applicable Law. All Awards hereunder are contingent on approval of the Plan by the Company's shareholders. Notwithstanding any other provision of this Plan, if the Plan is not approved by the Company's shareholders within twelve (12) months after the date the Plan is adopted, the Plan and any Awards hereunder shall be automatically terminated.

**21.**  **<u>Effective Date</u>** 

The Plan was adopted by the Board on April 17, 2026, and shall become effective on the date that it is approved by the Company's stockholders (the "***Effective Date***").

Unless terminated earlier under Section 14, this Plan shall terminate on April 17, 2036, ten (10) years after the Effective Date.

## Exhibit 5.1

**Exhibit 5.1**

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| | |
|:---|:---|
| ![](ea028761601_ex5-1img1.jpg) | 1345 AVENUE OF THE AMERICAS, 11<sup>th</sup> FLOOR<br> NEW YORK, NEW YORK 10017<br> TELEPHONE: (212) 370-1300<br> FACSIMILE: (212) 370-7889<br> www.egsllp.com |

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April 27, 2026

The Elmet Group Co.

2 Portland Fish Pier, Suite 214

Portland, ME 04101

Re: <u>Registration Statement on Form S-8</u>

Ladies and Gentlemen:

We have acted as counsel to The Elmet Group Co., a Delaware corporation (the "**Company**"), in connection with the preparation of the Company's Registration Statement on Form S-8 (the "**Registration Statement**") being filed with the Securities and Exchange Commission (the "**SEC**") under the Securities Act of 1933, as amended (the "**Securities Act**"). The Registration Statement has been filed to register 3,616,003 shares (the "**Plan Shares**") of the Company's common stock to be issued pursuant to the Company's 2026 Equity Incentive Plan (the "**2026 Incentive Plan**").

In arriving at the opinion expressed below, we have examined and relied on the following documents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Second Amended and Restated Certificate of Incorporation and the Amended and Restated Bylaws of the Company, each as amended as of the date hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the 2026 Incentive Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) records of meetings and consents of the Board of Directors of the Company, as provided to us by the Company.

In addition, we have examined and relied on the originals or copies certified or otherwise identified to our satisfaction of all such corporate records of the Company and such other instruments and other certificates of public officials, officers and representatives of the Company and such other persons, and we have made such investigations of law, as we have deemed appropriate as a basis for the opinion expressed below. In such examination, we have assumed, without independent verification, the genuineness of all signatures (whether original or photostatic), the accuracy and completeness of each document submitted to us, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as facsimile, electronic, certified, conformed or photostatic copies thereof. We have further assumed the legal capacity of natural persons, that persons identified to us as officers of the Company are actually serving in such capacity, that the representations of officers and employees of the Company are correct as to questions of fact and that each party to the documents we have examined or relied on (other than the Company) has the power, corporate or other, to enter into and perform all obligations thereunder and also have assumed the due authorization by all requisite action, corporate or other, of the execution and delivery by such parties of such documents, and the validity and binding effect thereon on such parties. We have also assumed that the Company will not in the future issue or otherwise make available so many shares of its common stock that there are insufficient authorized and unissued shares of common stock for issuance of the shares issuable upon exercise of the options and vesting of the restricted stock units and any other awards being registered in the Registration Statement. We have not independently verified any of these assumptions.

The opinions expressed in this opinion letter are limited to the General Corporation Law of the State of Delaware. We are not opining on, and we assume no responsibility for, the applicability or effect on any of the matters covered herein of: (a) any other laws; (b) the laws of any other jurisdiction; or (c) the laws of any country, municipality or other political subdivision or local government agency or authority. The opinions set forth below are rendered as of the date of this opinion letter. We assume no obligation to update or supplement such opinions to reflect any change of law or fact that may occur.

Based upon and subject to the foregoing, it is our opinion that the Plan Shares have been duly authorized and, upon issuance and payment therefor in accordance with the terms of the 2026 Incentive Plan, and the awards, agreements or certificates issued thereunder, will be validly issued, fully paid and nonassessable.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are experts with respect to any part of the Registration Statement within the meaning of the term "expert" as used in Section 11 of the Securities Act or the rules and regulations promulgated thereunder by the SEC, nor do we admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the SEC promulgated thereunder.

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| |
|:---|
| Very truly yours, |
| /s/ Ellenoff Grossman & Schole LLP |

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## Exhibit 23.2

**Exhibit 23.2**

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of The Elmet Group Co. of our report dated March 6, 2026, relating to the consolidated financial statements of Anania & Associates and its subsidiaries (a/k/a The Elmet Group Co.), appearing in the Registration Statement (No. 333-294725) on Form S-1, as amended, and related Prospectus of The Elmet Group Co.

/s/ RSM US LLP

Boston, Massachusetts

April 27, 2026

## Ex-Filing

?xml version='1.0' encoding='ASCII'? Filing Fee Exhibit

**Ex-Filing Fees**

**CALCULATION OF FILING FEE TABLES**

**S-8**

**The Elmet Group Co.**

**Table 1: Newly Registered Securities**

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Type** | **Security Class Title** | **Notes** | **Fee Calculation<br> Rule** | **Amount Registered** | **Proposed Maximum Offering<br> Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| Equity | Common Stock, par value $0.001 per share | (1) | Other | 3616003 | $17.34 | $62701492.02 | 0.0001381 | $8659.08 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | $62701492.02 |  | 8659.08 |
| Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: |  |  | 0.00 |
| Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: |  |  | $8659.08 |

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**__________________________________________ Offering Note(s)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) This Registration Statement registers 3,616,003 shares of common stock, par value $0.001 per share (the "Common Stock"), of The Elmet Group Co. (the "Registrant") that will be reserved for issuance under The Elmet Group Co. 2026 Equity Incentive Plan. Estimated solely for the purpose of calculating the registration fee which was computed in accordance with Rules 457(c) and 457(h)(1) under the Securities Act of 1933, as amended, on a basis of the average of the high and low sales prices of the Common Stock last reported on The Nasdaq Capital Market on April 24, 2026.