Document:

EXHIBIT 10.68

	EXHIBIT
    10.68     	Master
    Confirmation—Uncollared Accelerated Share Repurchase

 

	JPMorgan Chase Bank, National
    Association
	P.O. Box 161
	60 Victoria Embankment
	London EC4Y 0JP
	England

 

	 	 	 	October
    31, 2013
	To:	Corning Incorporated	 
	 	One Riverfront Plaza	 
	 	Corning, NY 14831	 
	 	Attention:	Robert
    Vanni, Assistant Treasurer, Corporate Finance	 
	 	Telephone
    No.:	(607)
    974-8023	 
	 	Facsimile
    No.:	(607)
    974-4375	 

 

	Re:	  Master Confirmation—Uncollared Accelerated Share Repurchase

 

This master confirmation (this “Master
Confirmation”), dated as of October 31, 2013, is intended to set forth certain terms and provisions of certain Transactions
(each, a “Transaction”) entered into from time to time between J.P. Morgan Securities LLC (“JPMS”),
as agent for JPMorgan Chase Bank, National Association, London Branch (“JPMorgan”), and Corning Incorporated,
a New York corporation (“Counterparty”). This Master Confirmation, taken alone, is neither a commitment by
either party to enter into any Transaction nor evidence of a Transaction. The additional terms of any particular Transaction shall
be set forth in a Supplemental Confirmation in the form of Schedule A hereto (a “Supplemental Confirmation”),
which shall reference this Master Confirmation and supplement, form a part of, and be subject to this Master Confirmation. This
Master Confirmation and each Supplemental Confirmation together shall constitute a “Confirmation” as referred to in
the Agreement specified below.

 

The definitions and provisions contained
in the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”), as published by the International
Swaps and Derivatives Association, Inc., are incorporated into this Master Confirmation. This Master Confirmation and each Supplemental
Confirmation evidence a complete binding agreement between Counterparty and JPMorgan as to the subject matter and terms of each
Transaction to which this Master Confirmation and such Supplemental Confirmation relate and shall supersede all prior or contemporaneous
written or oral communications with respect thereto.

 

This Master Confirmation and each Supplemental
Confirmation supplement, form a part of, and are subject to an agreement in the form of the 2002 ISDA Master Agreement (the “Agreement”)
as if JPMorgan and Counterparty had executed the Agreement on the date of this Master Confirmation (but without any Schedule except
for (i) the election of New York law as the governing law (without reference to its choice of law provisions) and (ii) the election
that subparagraph (ii) of Section 2(c) will not apply to the Transactions.

 

The Transactions shall be the sole Transactions
under the Agreement. If there exists any ISDA Master Agreement between JPMorgan and Counterparty or any confirmation or other
agreement between JPMorgan and Counterparty pursuant to which an ISDA Master Agreement is deemed to exist between JPMorgan and
Counterparty, then notwithstanding anything to the contrary in such ISDA Master Agreement, such confirmation or agreement or any
other agreement to which JPMorgan and Counterparty are parties, the Transactions shall not be considered Transactions under, or
otherwise governed by, such existing or deemed ISDA Master Agreement, and the occurrence of any Event of Default or Termination
Event under the Agreement with respect to either party or any Transaction shall not, by itself, give rise to any right or obligation
under any such other agreement or deemed agreement. Notwithstanding anything to the contrary in any other agreement between the
parties or their Affiliates, the Transactions shall not be “Specified Transactions” (or similarly treated) under any
other agreement between the parties or their Affiliates.

 

All provisions contained or incorporated
by reference in the Agreement shall govern this Master Confirmation and each Supplemental Confirmation except as expressly modified
herein or in the related Supplemental Confirmation.

 

	CORNING INCORPORATED - 2013 Form 10-K	1

    	 

    	

    

If, in relation to any Transaction to which
this Master Confirmation and a Supplemental Confirmation relate, there is any inconsistency between the Agreement, this Master
Confirmation, such Supplemental Confirmation and the Equity Definitions, the following will prevail for purposes of such Transaction
in the order of precedence indicated: (i) such Supplemental Confirmation; (ii) this Master Confirmation; (iii) the Equity Definitions;
and (iv) the Agreement.

 

	1.	Each
    Transaction constitutes a Share Forward Transaction for the purposes of the Equity Definitions. Set forth below are the terms
    and conditions that, together with the terms and conditions set forth in the Supplemental Confirmation relating to any Transaction,
    shall govern such Transaction.

 

	 	General
    Terms.	 	 	 	 
	 	 	 	 	 	 
	 	 	 	Trade
    Date:	 	For
    each Transaction, as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 
	 	 	 	Buyer:	 	Counterparty
	 	 	 	 	 	 
	 	 	 	Seller:	 	JPMorgan
	 	 	 	 	 	 
	 	 	 	Shares:	 	The
    common stock of Counterparty, par value USD 0.50 per share (Exchange symbol “GLW”).
	 	 	 	 	 	 
	 	 	 	Exchange:	 	The
    New York Stock Exchange
	 	 	 	 	 	 
	 	 	 	Related
    Exchange(s):	 	All
    Exchanges.
	 	 	 	 	 	 
	 	 	 	Prepayment/Variable
    Obligation:	 	Applicable
	 	 	 	 	 	 
	 	 	 	Prepayment
    Amount:	 	For
    each Transaction, as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 
	 	 	 	Prepayment
    Date:	 	For
    each Transaction, as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 
	 	 	 	Contract
    Fee:	 	For
    each Transaction, as set forth in the related Supplemental Confirmation. On the Prepayment Date, Buyer shall pay Seller an
    amount in USD equal to the Contract Fee in immediately available funds by wire transfer to an account specified by Seller.
	 	Valuation.	 	 	 	 
	 	 	 	 	 	 
	 	 	 	VWAP
    Price:	 	For
    any Exchange Business Day, the volume-weighted average price at which the Shares trade as reported in the composite transactions
    for United States exchanges and quotation systems, during the regular trading session for the Exchange on such Exchange Business
    Day, excluding (i) trades that do not settle regular way, (ii) opening (regular way) reported trades in the consolidated system
    on such Exchange Business Day, (iii) trades that occur in the last ten minutes before the scheduled close of trading on the
    Exchange on such Exchange Business Day and ten minutes before the scheduled close of the primary trading in the market where
    the trade is effected, and (iv) trades on such Exchange Business Day that do not satisfy the requirements of Rule 10b-18(b)(3)
    under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
    as determined in good faith by the Calculation Agent (all such trades other than any trades described in clauses (i) to (iv)
    above, “Rule 10b-18 Eligible Transactions”). Counterparty acknowledges
    that the Calculation Agent may refer to the Bloomberg Page “GLW US <Equity> AQR SEC” (or any successor thereto),
    in its judgment, for such Exchange Business Day to determine the VWAP Price.
	 	 	 	 	 	 
	 	 	 	Forward
    Price:	 	For
    each Transaction, the arithmetic average of the VWAP Prices for all of the Exchange Business Days in the Calculation Period
    for such Transaction, subject to “Valuation Disruption” below.
	 	 	 	 	 	 
	 	 	 	Exchange
    Business Day:	 	As set
    forth in the Equity Definitions; provided that any Excluded Days for a Transaction shall not be Exchange Business Days for
    such Transaction.
	 	 	 	 	 	 
	 	 	 	Excluded
    Days:	 	For
    each Transaction, as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 
	 	 	 	Forward
    Price Adjustment Amount:	 	For
    each Transaction, as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 
	 	 	 	Calculation
    Period:	 	For
    each Transaction, the period from, and including, the Calculation Period Start Date for such Transaction to, and including,
    the Termination Date for such Transaction.
	 	 	 	 	 	 
	 	 	 	Calculation
    Period Start Date:	 	For
    each Transaction, as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 
	 	 	 	Termination
    Date:	 	For each
    Transaction, the Scheduled Termination Date for such Transaction; provided that JPMorgan shall have the right to designate
    any Exchange Business Day on or after the First Acceleration Date to be the Termination Date for all of such Transaction (an
    “Accelerated Termination Date”) by delivering notice (an “Acceleration
    Notice”) to Counterparty of any such designation prior to 5:00 p.m. (New York City time) on the Exchange
    Business Day immediately following the designated Accelerated Termination Date.

 

	CORNING INCORPORATED - 2013 Form 10-K	2

    	 

    	

    

	 	 	 	Scheduled Termination
    Date:	 	For each
    Transaction, as set forth in the related Supplemental Confirmation, subject to postponement as provided in “Valuation
    Disruption” below.
	 	 	 	 	 	 
	 	 	 	First Acceleration Date:	 	For each
    Transaction, as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 
	 	 	 	Valuation Disruption:	 	The definition
    of “Market Disruption Event” in Section 6.3(a) of the Equity Definitions is hereby amended by deleting the words
    “at any time during the one-hour period that ends at the relevant Valuation Time, Latest Exercise Time, Knock-in Valuation
    Time or Knock-out Valuation Time, as the case may be” and inserting the words “at any time on any Scheduled Trading
    Day during the Calculation Period or Settlement Valuation Period” after the word “material,” in the third
    line thereof.
	 	 	 	 	 	 
	 	 	 	 	 	Section
    6.3(d) of the Equity Definitions is hereby amended by deleting the remainder of the provision following the term “Scheduled
    Closing Time” in the fourth line thereof.
	 	 	 	 	 	 
	 	 	 	 	 	Notwithstanding
    anything to the contrary in the Equity Definitions, if a Disrupted Day occurs (i) in the Calculation Period, the Calculation
    Agent may, in its good faith and commercially reasonable discretion, postpone the Scheduled Termination Date, or (ii) in the
    Settlement Valuation Period, the Calculation Agent may extend the Settlement Valuation Period. The Calculation Agent may also
    determine that (i) such Disrupted Day is a Disrupted Day in full, in which case the VWAP Price for such Disrupted Day
    shall not be included for purposes of determining the Forward Price or the Settlement Price, as the case may be, or (ii) such
    Disrupted Day is a Disrupted Day only in part, in which case the VWAP Price for such Disrupted Day shall be determined by
    the Calculation Agent based on Rule 10b-18 Eligible Transactions in the Shares on such Disrupted Day taking into account the
    nature and duration of the relevant Market Disruption Event, and the weighting of the VWAP Price for the relevant Exchange
    Business Days during the Calculation Period or the Settlement Valuation Period, as the case may be, shall be adjusted in a
    commercially reasonable manner by the Calculation Agent for purposes of determining the Forward Price or the Settlement Price,
    as the case may be, with such adjustments based on, among other factors, the duration of any Market Disruption Event and the
    volume, historical trading patterns and price of the Shares. Any Exchange Business Day on which, as of the date hereof, the
    Exchange is scheduled to close prior to its normal close of trading shall be deemed not to be an Exchange Business Day; if
    a closure of the Exchange prior to its normal close of trading on any Exchange Business Day is scheduled following the date
    hereof, then such Exchange Business Day shall be deemed to be a Disrupted Day in full.
	 	 	 	 	 	 
	 	 	 	 	 	If a Disrupted
    Day occurs during the Calculation Period for any Transaction or the Settlement Valuation Period for any Transaction, as the
    case may be, and each of the nine immediately following Scheduled Trading Days is a Disrupted Day (a “Disruption
    Event”), then the Calculation Agent, in its good faith and commercially reasonable discretion, may deem such
    Disruption Event (and each consecutive Disrupted Day thereafter) to be either (x) a Potential Adjustment Event in respect
    of such Transaction or (y) an Additional Termination Event in respect of such Transaction, with Counterparty as the sole Affected
    Party and such Transaction as the sole Affected Transaction.
	 	 	 	 	 	 
	 	Settlement
    Terms.	 	 	 	 
	 	 	 	 	 	 
	 	 	 	Settlement Procedures:	 	For each
    Transaction:
	 	 	 	 	 	 
	 	 	 	 	 	(i)	if the
    Number of Shares to be Delivered for such Transaction is positive, Physical Settlement shall be applicable to such Transaction;
    provided that JPMorgan does not, and shall not, make the agreement or the representations
    set forth in Section 9.11 of the Equity Definitions related to the restrictions imposed by applicable securities laws with
    respect to any Shares delivered by JPMorgan to Counterparty under any Transaction; or
	 	 	 	 	 	 	 
	 	 	 	 	 	(ii)	if the Number of Shares
    to be Delivered for such Transaction is negative, then the Counterparty Settlement Provisions in Annex A hereto shall apply
    to such Transaction
	 	 	 	 	 	 	 
	 	 	 	Number of
    Shares to be Delivered:	 	For each Transaction, a number of Shares (rounded down to the nearest whole number) equal to (a)(i) the Prepayment Amount for such Transaction, divided by (ii)(A) the Forward Price for such Transaction minus (B) the Forward Price Adjustment Amount for such Transaction, minus (b) the number of Initial Shares for such Transaction; provided that if the result of the calculation in clause (a)(ii) is equal to or less than the Floor Price for such Transaction, then the Number of Shares to be Delivered for such Transaction shall be determined as if clause (a)(ii) were replaced with “(ii) the Floor Price for such Transaction”. For the avoidance of doubt, if the Forward Price Adjustment Amount for any Transaction is a negative number, clause (a)(ii) of the immediately preceding sentence shall be equal to (A) the Forward Price for such Transaction, plus (B) the absolute value of the Forward Price Adjustment Amount.

 

	CORNING INCORPORATED - 2013 Form 10-K	3

    	 

    	

    

	 	 	 	Floor Price:	 	For each
    Transaction, as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 
	 	 	 	Excess Dividend
    Amount:	 	For the avoidance of
    doubt, all references to the Excess Dividend Amount shall be deleted from Section 9.2(a)(iii) of the Equity Definitions.
	 	 	 	 	 	 
	 	 	 	Settlement Date:	 	For each Transaction,
    if the Number of Shares to be Delivered for such Transaction is positive, the date that is one Settlement Cycle immediately
    following the Termination Date for such Transaction.
	 	 	 	 	 	 
	 	 	 	Settlement Currency:	 	USD
	 	 	 	 	 	 
	 	 	 	Initial Share Delivery:	 	For each Transaction,
    JPMorgan shall deliver a number of Shares equal to the Initial Shares for such Transaction to Counterparty on the Initial
    Share Delivery Date for such Transaction in accordance with Section 9.4 of the Equity Definitions, with such Initial Share
    Delivery Date deemed to be a “Settlement Date” for purposes of such Section 9.4.
	 	 	 	 	 	 
	 	 	 	Initial Share Delivery
    Date:	 	For each Transaction,
    as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 
	 	 	 	Initial Shares:	 	For each Transaction,
    as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 
	 	Share Adjustments.	 	 	 	 
	 	 	 	 	 	 
	 

                                                                                 
	 	 	Potential Adjustment
    Event:	 	In addition to the
    events described in Section 11.2(e) of the Equity Definitions, it shall constitute an additional Potential Adjustment Event
    if (x) the Scheduled Termination Date for any Transaction is postponed pursuant to “Valuation Disruption” above
    (including, for the avoidance of doubt, pursuant to Section 7 hereof), (y) a Regulatory Disruption as described in Section
    7 occurs or (z) a Disruption Event occurs. In the case of any event described in clause (x), (y) or (z) above occurs, the
    Calculation Agent may, in its commercially reasonable discretion, adjust any relevant terms of such Transaction as necessary
    to preserve as nearly as practicable the fair value of such Transaction to JPMorgan prior to such postponement, Regulatory
    Disruption or Disruption Event, as the case may be.
	 	 	 	 	 	 
	 

                                                                                 
	 	 	Excess Dividend:	 	For any calendar quarter,
    any dividend or distribution on the Shares with an ex-dividend date occurring during such calendar quarter (other than any
    dividend or distribution of the type described in Section 11.2(e)(i) or Section 11.2(e)(ii)(A) of the Equity Definitions or
    any Extraordinary Dividend) (a “Dividend”) the amount or value of which
    per Share (as determined by the Calculation Agent), when aggregated with the amount or value (as determined by the Calculation
    Agent) of any and all previous Dividends with ex-dividend dates occurring in the same calendar quarter, exceeds the Ordinary
    Dividend Amount. “Extraordinary Dividend” means the per Share cash dividend
    or distribution, or a portion thereof, declared by Counterparty on the Shares that is classified by the board of directors
    of Counterparty as an “extraordinary” dividend.
	 	 	 	 	 	 
	 	 	 	Consequences of Excess
    Dividend:	 	The declaration by
    the Issuer of any Excess Dividend, the ex-dividend date for which occurs or is scheduled to occur during the Relevant Dividend
    Period for any Transaction, shall, at JPMorgan’s election in its sole discretion, either (x) constitute an Additional
    Termination Event in respect of such Transaction, with Counterparty as the sole Affected Party and such Transaction as the
    sole Affected Transaction or (y) result in an adjustment, by the Calculation Agent, to the Floor Price as the Calculation
    Agent determines appropriate to preserve the fair value of such Transaction after taking into account such Excess Dividend.
	 	 	 	 	 	 
	 	 	 	Ordinary Dividend Amount:	 	For each Transaction,
    as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 
	 	 	 	Method of Adjustment:	 	Calculation Agent Adjustment
	 	 	 	 	 	 
	 	 	 	Early Ordinary
    Dividend Payment:	 	For each Transaction,
    if an ex-dividend date for any Dividend that is not (x) an Excess Dividend, (y) a dividend or distribution of the type
    described     in Section 11.2(e)(i) or Section 11.2(e)(ii)(A) of the Equity Definitions and (z) an Extraordinary
    Dividend, occurs during     any calendar quarter occurring (in whole or in part) during the Relevant Dividend Period for such
    Transaction and is prior     to the Scheduled Ex-Dividend Date for such Transaction for the relevant calendar quarter (as
    determined by the Calculation Agent), the Calculation     Agent shall make such adjustment to the exercise, settlement,
    payment or any other terms of the relevant Transaction as the     Calculation Agent determines appropriate to preserve the
    fair value of such Transaction after taking into account such Dividend.
	 	 	 	 	 	 
	 	 	 	Scheduled Ex-Dividend
    Dates:	 	For each Transaction,
    as set forth in the related Supplemental Confirmation for each calendar quarter.
	 	 	 	 	 	 
	 	 	 	Relevant Dividend
    Period:	 	For each
    Transaction, the period from, and including, the Trade Date for such Transaction to, and including, the Relevant Dividend
    Period End Date for such Transaction.

 

	CORNING INCORPORATED - 2013 Form 10-K	4

    	 

    	

    

	 	 	 	Relevant Dividend Period End Date:	 	For each
    Transaction, if the Number of Shares to be Delivered for such Transaction is negative, the last day of the Settlement Valuation
    Period; otherwise, the Termination Date for such Transaction.
	 	 	 	 	 	 	 
	 	Extraordinary
    Events.	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	Consequences of Merger Events:	 	 
	 	 	 	 	 	 	 
	 	 	 	(a) 	 Share-for-Share:	 	Cancellation and Payment
	 	 	 	 	 	 	 
	 	 	 	(b)	 Share-for-Other:	 	Cancellation and Payment
	 	 	 	 	 	 	 
	 	 	 	(c)	 Share-for-Combined:	 	Cancellation and Payment
	 	 	 	 	 	 	 
	 

                                                                                 
	 	 	Tender Offer:	 	Applicable; provided
    that (a) Section 12.1(l) of the Equity Definitions shall be amended (i) by deleting the parenthetical in the fifth line
    thereof, (ii) by replacing “that” in the fifth line thereof with “whether or not such announcement”
    and (iii) by adding immediately after the words “Tender Offer” in the fifth line thereof “, and any
    publicly announced change or amendment to such an announcement (including, without limitation, the announcement of an abandonment
    of such intention)” and (b) Sections 12.3(a) and 12.3(d) of the Equity Definitions shall each be amended by replacing
    each occurrence of the words “Tender Offer Date” by “Announcement Date.”
	 	 	 	 	 	 	 
	 	 	 	Consequences of Tender Offers:	 	 
	 	 	 	 	 	 	 
	 	 	 	(a)	 Share-for-Share:	 	Cancellation and Payment
	 	 	 	 	 	 	 
	 	 	 	(b)	 Share-for-Other:	 	Cancellation and Payment
	 	 	 	 	 	 	 
	 	 	 	(c)	 Share-for-Combined:	 	Cancellation and Payment
	 	 	 	 	 	 	 
	 	 	 	Nationalization, Insolvency or
 Delisting:	 	Cancellation
    and Payment;     provided that in addition to the provisions of
    Section 12.6(a)(iii) of the Equity     Definitions, it shall also constitute a Delisting if the Exchange is located in
    the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange,
    The NASDAQ Global Select Market or The NASDAQ Global     Market (or their respective successors); if the Shares are
    immediately re-listed, re-traded or re-quoted on any such exchange     or quotation system, such exchange or quotation system
    shall be deemed to be the Exchange.
	 	 	 	 	 	 	 
	 	 	 	Additional Disruption Events:	 	 
	 	 	 	 	 	 	 
	 	 	 	(a)	 Change in Law:	 	Applicable; provided
    that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation”
    in the third line thereof with the phrase “, or public announcement of, the formal or informal interpretation”,
    (ii) by replacing the word “Shares” where it appears in clause (X) thereof with the words “Hedge Positions”
    and (iii) by immediately following the word “Transaction” in clause (X) thereof, adding the phrase “in the
    manner contemplated by the Hedging Party on the Trade Date”; provided further that Section 12.9(a)(ii) of the Equity
    Definitions is hereby amended by replacing the parenthetical beginning after the word “regulation” in the second
    line thereof the words “(including, for the avoidance of doubt and without limitation, (x) any tax law or (y) adoption
    or promulgation of new regulations authorized or mandated by existing statute)”.
	 	 	 	 	 	 	 
	 	 	 	(b)	 Failure to Deliver:	 	Applicable
	 	 	 	 	 	 	 
	 	 	 	(c)	 Insolvency Filing:	 	Applicable
	 	 	 	 	 	 	 
	 	 	 	(d)	 Loss of Stock Borrow:	 	Applicable
	 	 	 	 	 	 	 
	 	 	 	 	Maximum Stock Loan Rate:	 	For each Transaction,
    as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 	 
	 	 	 	 	Hedging Party:	 	JPMorgan
	 	 	 	 	 	 	 
	 	 	 	 	Determining Party:	 	JPMorgan
	 	 	 	 	 	 	 
	 	 	 	(e)	 Increased Cost of
    Stock Borrow:	 	Applicable
	 	 	 	 	 	 	 
	 	 	 	 	Initial Stock Loan Rate:	 	For each Transaction,
    as set forth in the related Supplemental Confirmation.
	 	 	 	 	 	 	 
	 	 	 	 	Hedging Party:	 	JPMorgan
	 	 	 	 	 	 	 
	 	 	 	 	Determining Party:	 	JPMorgan
	 	 	 	 	 	 	 
	 	 	 	Hedging Adjustments:	 	For the avoidance of
    doubt, whenever the Calculation Agent is called upon to make an adjustment pursuant to the terms of this Confirmation or the
    Equity Definitions to take into account the effect of an event, the Calculation Agent shall make such adjustment by reference
    to the effect of such event on JPMorgan, assuming that JPMorgan maintains a commercially reasonable Hedge Position.
	 	 	 	 	 	 	 
	 	 	 	Non-Reliance/Agreements and Acknowledgements Regarding Hedging Activities/Additional Acknowledgements:	 	Applicable

 

	CORNING INCORPORATED - 2013 Form 10-K	5

    	 

    	

    

	2.	Calculation Agent.	JPMorgan, acting in good faith and in a commercially
    reasonable manner, and whose determinations and calculations will be binding in the absence of manifest error. If an Event
    of Default has occurred and is continuing with respect to JPMorgan, then the Counterparty will act as Calculation Agent or
    will appoint a third party to act as Calculation Agent.

 

	3.	Account Details.
	 	 
	 	(a)	Account for payments to Counterparty:
	 	 	 
	 	 	Bank:	JPMorgan Chase Bank, NA
	 	 	ABA#:	021000021
	 	 	Acct No.:	XXXXX6911
	 	 	Beneficiary:	Corning Incorporated
	 	 	Account for delivery of Shares to Counterparty:
	 	 	DTC 50108

 

	 	(b)	Account for payments to JPMorgan:
	 	 	 
	 	 	Bank:	JPMorgan Chase Bank, N.A.
	 	 	ABA#:	021000021
	 	 	Acct No.:	XXXXX7979
	 	 	Beneficiary:	JPMorgan Chase Bank, N.A. New York
	 	 	Ref:	Derivatives
	 	 	Account for delivery of Shares to JPMorgan:
	 	 	DTC 0060

 

	4.	Offices.
	 	 
	 	(a)	The Office of Counterparty for each Transaction is: Inapplicable, Counterparty is not a Multibranch Party.
	 	 	 
	 	(b)	The Office of JPMorgan for each Transaction is: London
	 	 	JPMorgan Chase Bank, National Association
	 	 	London Branch
	 	 	P.O. Box 161
	 	 	60 Victoria Embankment
	 	 	London EC4Y 0JP
	 	 	England	 

 

	5.	Notices.
	 	 
	 	(a)	Address for notices or communications to Counterparty:
	 	 	 
	 	 	Corning Incorporated
	 	 	Attention:	Robert P. Vanni
	 	 	Telephone No.:	607-974-8023
	 	 	Facsimile No.:	607-974-4375
	 	 	Email Address:	vannirp@corning.com
	 	 	 	 
	 	(b)	Address for notices or communications to JPMorgan:
	 	 	 
	 	 	JPMorgan Chase Bank, National Association
	 	 	EDG Marketing Support
	 	 	Email:	edg_notices@jpmorgan.com
	 	 		edg_ny_corporate_sales_support@jpmorgan.com
	 	 	 	 
	 	 	With a copy to:
	 	 	 
	 	 	Attention:	Brian Lehman
	 	 	Title:	Managing Director
	 	 	Telephone No:	(212) 622-6451
	 	 	Email Address:	brian.d.lehman@jpmorgan.com

 

	CORNING
    INCORPORATED -  2013 Form 10-K	6

    	 

    	

    

	6.	Representations, Warranties
                                                            and Agreements.

 

	 	(a)	Additional Representations, Warranties and Covenants of Each Party. In addition to the representations, warranties and covenants in the Agreement, each party represents, warrants and covenants to the other party that:
	 	 	 	 
	 	 	(i)	It is an “eligible contract participant” (as such term is defined in the Commodity Exchange Act, as amended). 
	 	 	 	 
	 	 	(ii)	Each party acknowledges
    that the offer and sale of each Transaction to it is intended to be exempt from registration under the Securities Act of 1933,
    as amended (the “Securities Act”), by virtue of Section 4(2) thereof. Accordingly, each party represents
    and warrants to the other that (A) it has the financial ability to bear the economic risk of its investment in each Transaction
    and is able to bear a total loss of its investment, (B) it is an “accredited investor” as that term is defined
    under Regulation D under the Securities Act and (C) the disposition of each Transaction is restricted under this Master Confirmation,
    the Securities Act and state securities laws.
	 	 	 	 
	 	(b)	Additional Representations, Warranties and Covenants of Counterparty. In addition to the representations, warranties and covenants in the Agreement, Counterparty represents, warrants and covenants to JPMorgan that:
	 	 	 	 
	 	 	(i)	As of the Trade Date for each Transaction hereunder, (A) such Transaction is being entered into pursuant to a publicly disclosed Share buy-back program and its Board of Directors has approved the use of derivatives to effect the Share buy-back program, and (B) there is no internal policy of Counterparty, whether written or oral, that would prohibit Counterparty from entering into any aspect of such Transaction, including, without limitation, the purchases of Shares to be made pursuant to such Transaction.
	 	 	 	 
	 	 	(ii)	As of the Trade Date for each Transaction hereunder, the purchase or writing of such Transaction and the transactions contemplated hereby will not violate Rule 13e-1 or Rule 13e-4 under the Exchange Act.
	 	 	 	 
	 	 	(iii)	As of the Trade Date for each Transaction hereunder, it is not entering into such Transaction, in each case (A) on the basis of, and is not aware of, any material non-public information regarding Counterparty or the Shares, (B) in anticipation of, in connection with, or to facilitate, a distribution of its securities, a self tender offer or a third-party tender offer in violation of the Exchange Act or (C) to create actual or apparent trading activity in the Shares (or any security convertible into or exchangeable for the Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for the Shares). 
	 	 	 	 
	 	 	(iv)	Counterparty (A) is capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities; (B) will exercise independent judgment in evaluating the recommendations of any broker-dealer or its associated persons, unless it has otherwise notified the broker-dealer in writing; and (C) has total assets of at least USD 50,000,000 as of the date hereof.
	 	 	 	 
	 	 	(v)	As of the Trade Date for each Transaction hereunder, Counterparty is in compliance with its reporting obligations under the Exchange Act and its most recent Annual Report on Form 10-K, together with all reports filed by it through the Trade Date pursuant to the Exchange Act, taken together and as amended and supplemented to the date of this representation, do not, as of their respective
filing dates, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein
or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.
	 	 	 	 
	 	 	(vi)	Counterparty shall report each Transaction as required under the Exchange Act and the rules and regulations thereunder.
	 	 	 	 
	 	 	(vii)	The Shares are not,
    and Counterparty will not cause the Shares to be, subject to a “restricted period” (as defined in Regulation M
    promulgated under the Exchange Act) at any time during any Regulation M Period (as defined below) for any Transaction unless
    Counterparty has provided written notice to JPMorgan of such restricted period not later than the Scheduled Trading Day immediately
    preceding the first day of such “restricted period”; Counterparty acknowledges that any such notice may cause
    a Disrupted Day to occur pursuant to Section 0 below; accordingly, Counterparty acknowledges that its delivery of such notice
    must comply with the standards set forth in Section 0 below. Counterparty is not currently contemplating any “distribution”
    (as defined in Regulation M promulgated under the Exchange Act) of Shares, or any security for which Shares are a “reference
    security” (as defined in Regulation M promulgated under the Exchange Act), other than the issuance of a new series of
    preferred stock to be designated as Fixed Rate Cumulative Convertible Preferred Stock, Series A, par value $100 per share
    (the “Preferred Stock”) as described in Counterparty’s report on Form 8-K dated October 25, 2013.
    “Regulation M Period” means, for any Transaction, (A) the Relevant Period (as defined below) for such Transaction,
    (B) the Settlement Valuation Period, if any, for such Transaction and (C) the Seller Termination Purchase Period (as defined
    below), if any, for such Transaction. “Relevant Period” means, for any Transaction, the period commencing
    on the Calculation Period Start Date for such Transaction and ending on the later of (1) the earlier of (x) the Scheduled
    Termination Date and (y) the last Additional Relevant Day (as specified in the related Supplemental Confirmation) for such
    Transaction, or such earlier day as elected by JPMorgan and communicated to Counterparty on such day (or, if later, the First
    Acceleration Date without regard to any acceleration thereof pursuant to “Special Provisions for Acquisition Transaction
    Announcements” below) and (2) if Section 0 is applicable to such Transaction, the date on which all deliveries owed
    pursuant to Section 0 have been made. 
	 	 	 	 
	 	 	(viii)	As of the Trade
    Date, the Prepayment Date, the Initial Share Delivery Date, the Settlement Date, any Cash Settlement Payment Date and any
    Settlement Method Election Date for each Transaction, Counterparty is not “insolvent” (as such term is defined
    under Section 101(32) of the U.S. Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”))
    and Counterparty would be able to purchase a number of Shares with a value equal to the Prepayment Amount in compliance with
    the laws of the jurisdiction of Counterparty’s incorporation. 
	 	 	 	 
	 	 	(ix)	Counterparty is not, and after giving effect to each Transaction will not be, required to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended. 
	 	 	 	 
	 	 	(x)	Counterparty has not entered, and will not enter, into any repurchase transaction with respect to the Shares (or any security convertible into or exchangeable for the 

 

	CORNING
    INCORPORATED -  2013 Form 10-K	7

    	 

    	

    

	 	 	 	Shares) (including, without limitation, any agreements similar to the Transactions described herein), except with JPMorgan or any of its affiliates, where any initial hedge period, calculation period, relevant period, settlement valuation period or seller termination purchase period (each however defined) in such other transaction will overlap at any time (including, without limitation, as a result of extensions in such initial hedge period, calculation period, relevant period, settlement valuation period or seller termination purchase period as provided in the relevant agreements) with any Relevant Period, any Settlement Valuation Period (if applicable) or any Seller Termination Purchase Period (if applicable) under this Master Confirmation. In the event that the initial hedge period, relevant period, calculation period or settlement valuation period in any other transaction overlaps with any Relevant Period, any Settlement Valuation Period (if applicable) or any Seller Termination Purchase Period (if applicable) under this Master Confirmation as a result of any postponement of the Scheduled Termination Date or extension of the Settlement Valuation Period pursuant to “Valuation Disruption” above or any analogous provision in such other transaction, Counterparty shall promptly amend such other transaction to avoid any such overlap.
	 	 	 	 
	 	 	(xi)	Counterparty shall,
    at least one day prior to the first day of the Calculation Period, the Settlement Valuation Period, if any, or the Seller
    Termination Purchase Period, if any, for any Transaction, notify JPMorgan of the total number of Shares purchased in Rule
    10b-18 purchases of blocks pursuant to the once-a-week block exception set forth in paragraph (b)(4) of Rule 10b-18 under
    the Exchange Act (“Rule 10b-18”) by or for Counterparty or any of its “affiliated purchasers”
    (as defined in Rule 10b-18) during each of the four calendar weeks preceding such day and during the calendar week in which
    such day occurs (“Rule 10b-18 purchase” and “blocks” each being used as defined in Rule 10b-18), which
    notice shall be substantially in the form set forth in Schedule B hereto.
	 	 	 	 
	 	 	(xii)	As of the Trade Date for each Transaction hereunder, and as of the date of any election with respect to any Transaction hereunder, there has not been any Merger Announcement (as defined below).
	 	 	 	 
	 	(c)	Additional Representations, Warranties and Covenants of JPMorgan. In addition to the representations, warranties and covenants in the Agreement, JPMorgan represents, warrants and covenants to Counterparty that it has implemented policies and procedures, taking into consideration the nature of its business, reasonably designed to ensure that individuals making investment decisions related to any Transaction would not violate the laws prohibiting trading on the basis of material nonpublic information regarding Issuer.
	 	 	 

	7.	Regulatory Disruption. In the event that JPMorgan concludes, in its good faith and commercialy reasonable discretion based on the advice of counsel that it is appropriate with respect to any legal, regulatory or self-regulatory requirements or related policies and procedures (whether or not such requirements, policies or procedures are imposed by law or have been voluntarily adopted by JPMorgan, and provided that such policies or procedures are related to legal or regulatory issues and are generally applicable in similar situations and applied to any Transaction hereunder in a non-discriminatory manner), for it to refrain from or decrease any market activity on any Scheduled Trading Day or Days during the Calculation Period or, if applicable, the Settlement Valuation Period, JPMorgan may by written notice to Counterparty elect to deem that a Market Disruption Event has occurred and will be continuing on such Scheduled Trading Day or Days. 

 

	8.	10b5-1 Plan. Counterparty represents, warrants and covenants to JPMorgan that: 
	 	 	 
	 	(a)	Counterparty is
    entering into this Master Confirmation and each Transaction hereunder in good faith and not as part of a plan or scheme to
    evade the prohibitions of Rule 10b5-1 under the Exchange Act (“Rule 10b5-1”) or any other antifraud or
    anti-manipulation provisions of the federal or applicable state securities laws and that it has not entered into or altered
    and will not enter into or alter any corresponding or hedging transaction or position with respect to the Shares. Counterparty
    acknowledges that it is the intent of the parties that each Transaction entered into under this Master Confirmation comply
    with the requirements of paragraphs (c)(1)(i)(A) and (B) of Rule 10b5-1 and each Transaction entered into under this Master
    Confirmation shall be interpreted to comply with the requirements of Rule 10b5-1(c). 
	 	 	 
	 	(b)	During the Calculation Period and the Settlement Valuation Period, if any, for any Transaction and in connection with the delivery of any Alternative Delivery Units for any Transaction, JPMorgan (or its agent or Affiliate) may effect transactions in Shares in connection with such Transaction. The timing of such transactions by JPMorgan, the price paid or received per Share pursuant to such transactions and the manner in which such transactions are made, including, without limitation, whether such transactions are made on any securities exchange or privately, shall be within the sole judgment of JPMorgan. Counterparty acknowledges and agrees that all such transactions shall be made in JPMorgan’s sole judgment and for JPMorgan’s own account.
	 	 	 
	 	(c)	Counterparty does not have, and shall not attempt to exercise, any control or influence over how, when or whether JPMorgan (or its agent or Affiliate) makes any “purchases or sales” (within the meaning of Rule 10b5-1(c)(1)(i)(B)(3)) in connection with any Transaction, including, without limitation, over how, when or whether JPMorgan (or its agent or Affiliate) enters into any hedging transactions. Counterparty represents and warrants that it has consulted with its own advisors as to the legal aspects of its adoption and implementation of this Master Confirmation and each Supplemental Confirmation under Rule 10b5-1. 
	 	 	 
	 	(d)	Counterparty acknowledges and agrees that any amendment, modification, waiver or termination of this Master Confirmation or any Supplemental Confirmation must be effected in accordance with the requirements for the amendment or termination of a “plan” as defined in Rule 10b5-1(c). Without limiting the generality of the foregoing, any such amendment, modification, waiver or termination shall be made in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b-5, and no such amendment, modification or waiver shall be made at any time at which Counterparty or any officer, director, manager or similar person of Counterparty is aware of any material non-public information regarding Counterparty or the Shares. 
	 	 	 
	 	(e)	Counterparty shall not, directly or indirectly, communicate any information relating to the Shares or any Transaction (including, without limitation, any notices required by Section 0) to any employee of JPMorgan or JPMS, other than as set forth in the Communications Procedures attached as Annex C hereto.
	 	 	 
	9.	Counterparty Purchases. Counterparty (or any “affiliate” or “affiliated purchaser” as defined in Rule 10b-18) shall not, without the prior written consent of JPMorgan, directly or indirectly purchase any Shares (including by means of a derivative instrument), listed contracts on the Shares or securities that are convertible into, or exchangeable or exercisable for Shares (including, without limitation, any Rule 10b-18 purchases of blocks (as defined in Rule 10b-18)) during any Relevant Period, any Settlement Valuation Period (if applicable) or any Seller Termination Purchase Period (if applicable) except through JPMorgan or an Affiliate of JPMorgan, and, if JPMorgan is requested to make

 

	CORNING
    INCORPORATED  - 2013 Form 10-K	8

    	 

    	

    

	 	any such purchases,
    JPMorgan will endeavor in good faith and in a commercially reasonable manner to fulfill such request, taking into account
    such factors as it deems appropriate at such time in light of this Transaction and existing liquidity conditions at such time.
	 	 	 	 
	10.	Special Provisions
    for Merger Transactions. Notwithstanding anything to the contrary herein or in the Equity Definitions:
	 	 	 	 
	 	(a)	Counterparty agrees
    that it: 
	 	 	 	 
	 	 	(i)	will not during the period commencing
    on the Trade Date for any Transaction and ending on the last day of the Relevant Period or, if applicable, the later of the
    last day of the Settlement Valuation Period and the last day of the Seller Termination Purchase Period, for such Transaction
    make, or to the extent it is within its reasonable control, permit to be made, any public announcement (as defined in Rule
    165(f) under the Securities Act) of any Merger Transaction or potential Merger Transaction (a “Merger Announcement”)
    unless such Merger Announcement is made prior to the opening or after the close of the regular trading session on the Exchange
    for the Shares;
	 	 	 	 
	 	 	(ii)	shall promptly (but in any event
    prior to the next opening of the regular trading session on the Exchange) notify JPMorgan following any such Merger Announcement
    that such Merger Announcement has been made; and 
	 	 	 	 
	 	 	(iii)	shall promptly (but in any event
    prior to the next opening of the regular trading session on the Exchange) provide JPMorgan with written notice specifying
    (i) Counterparty’s average daily Rule 10b-18 Purchases (as defined in Rule 10b-18) during the three full calendar months
    immediately preceding the announcement date of any Merger Transaction or potential Merger Transaction that were not effected
    through JPMorgan or its Affiliates and (ii) the number of Shares purchased pursuant to the proviso in Rule 10b-18(b)(4) under
    the Exchange Act for the three full calendar months preceding the announcement date of any Merger Transaction or potential
    Merger Transaction. Such written notice shall be deemed to be a certification by Counterparty to JPMorgan that such information
    is true and correct. In addition, Counterparty shall promptly notify JPMorgan of the earlier to occur of the completion of
    such transaction and the completion of the vote by target shareholders. 
	 	 	 	 
	 	(b)	Counterparty acknowledges
    that any such Merger Announcement or delivery of a notice with respect thereto may cause the terms of any Transaction to be
    adjusted or such Transaction to be terminated; accordingly, Counterparty acknowledges that its delivery of such notice must
    comply with the standards set forth in Section 0 above.
	 	 	 	 
	 	(c)	Upon the occurrence
    of any Merger Announcement (whether made by Counterparty or a third party), JPMorgan in its sole discretion may (i) make commercially
    reasonable adjustments to the terms of any Transaction including, without limitation, the Scheduled Termination Date or the
    Forward Price Adjustment Amount, and/or suspend the Calculation Period and/or any Settlement Valuation Period or (ii) treat
    the occurrence of such Merger Announcement as an Additional Termination Event with Counterparty as the sole Affected Party
    and the Transactions hereunder as the Affected Transactions and with the amount under Section 6(e) of the Agreement determined
    taking into account the fact that the Calculation Period or Settlement Valuation Period, as the case may be, had fewer Scheduled
    Trading Days than originally anticipated.

 

	“Merger
    Transaction” means any merger, acquisition or similar transaction involving a recapitalization as contemplated by
    Rule 10b-18(a)(13)(iv) under the Exchange Act.

 

	11.	Special Provisions for Acquisition Transaction Announcements. Notwithstanding anything to the contrary herein or in the Equity Definitions:
	 	 	 	 
	 	(a)	If an Acquisition Transaction Announcement occurs on or prior to the Settlement Date for any Transaction, then the Number of Shares to be Delivered for such Transaction shall be determined as if clause (a)(ii) of the definition thereof were replaced with “(ii) the Forward Price for such Transaction.” If an Acquisition Transaction Announcement occurs after the Trade Date, but prior to the First Acceleration Date of any Transaction, the First Acceleration Date shall be the date of such Acquisition Transaction Announcement. If the Number of Shares to be Delivered for any settlement of any Transaction is a negative number, then the terms of the Counterparty Settlement Provisions in Annex A hereto shall apply. 
	 	 	 
	 	(b)	“Acquisition
    Transaction Announcement” means (i) the announcement of an Acquisition Transaction or an event that, if consummated,
    would result in an Acquisition Transaction, (ii) an announcement that Counterparty or any of its subsidiaries has entered
    into an agreement, a letter of intent or an understanding designed to result in an Acquisition Transaction, (iii) the announcement
    of the intention to solicit or enter into, or to explore strategic alternatives or other similar undertaking that may include,
    an Acquisition Transaction, (iv) any other announcement that in the reasonable judgment of the Calculation Agent is reasonably
    likely to result in an Acquisition Transaction, or (v) any announcement of any change or amendment to any previous Acquisition
    Transaction Announcement (including any announcement of the abandonment of any such previously announced Acquisition Transaction,
    agreement, letter of intent, understanding or intention). For the avoidance of doubt, announcements as used in the definition
    of Acquisition Transaction Announcement refer to any public announcement whether made by the Issuer or a third party. 
	 	 	 	 
	 	(c)	“Acquisition
    Transaction” means (i) any Merger Event (for purposes of this definition the definition of Merger Event shall be
    read with the references therein to “100%” being replaced by “15%” and references to “50%”
    being replaced by “75%” and without reference to the clause beginning immediately following the definition of
    Reverse Merger therein to the end of such definition), Tender Offer or Merger Transaction or any other transaction involving
    the merger of Counterparty with or into any third party, (ii) the sale or transfer of all or substantially all of the assets
    of Counterparty, (iii) a recapitalization, reclassification, binding share exchange or other similar transaction with respect
    to Counterparty, (iv) any acquisition by Counterparty or any of its subsidiaries where the aggregate consideration transferable
    by Counterparty or its subsidiaries exceeds 50% of the market capitalization of Counterparty, (v) any lease, exchange, transfer,
    disposition (including, without limitation, by way of spin-off or distribution) of assets (including, without limitation,
    any capital stock or other ownership interests in subsidiaries) or other similar event by Counterparty or any of its subsidiaries
    where the aggregate consideration transferable or receivable by or to Counterparty or its subsidiaries exceeds 15% of the
    market capitalization of Counterparty or (vi) any transaction in which Counterparty or its board of directors has a legal
    obligation to make a recommendation to its shareholders in respect of such transaction (whether pursuant to Rule 14e-2 under
    the Exchange Act or otherwise). 
	 	 	 	 
	12.	Acknowledgments.
    
	 	 	 	 
	 	(a)	The parties hereto intend for:
	 	 	 	 
	 	 	(i)	each Transaction to be a “securities contract” as defined in Section 741(7) of the Bankruptcy Code and a “forward contract” as defined in Section 101(25) of the 

 

	CORNING
    INCORPORATED - 2013 Form 10-K	9

    	 

    	

    

	 	 	 	Bankruptcy Code, and the parties hereto to be entitled to the protections afforded by, among other Sections, Sections 362(b)(6), 362(b)(27), 362(o), 546(e), 546(j), 555, 556, 560 and 561 of the Bankruptcy Code;
	 	 	 	 
	 	 	(ii)	the Agreement to be a “master netting agreement” as defined in Section 101(38A) of the Bankruptcy Code; 
	 	 	 	 
	 	 	(iii)	a party’s right to liquidate, terminate or accelerate any Transaction, net out or offset termination values or payment amounts, and to exercise any other remedies upon the occurrence of any Event of Default or Termination Event under the Agreement with respect to the other party or any Extraordinary Event that results in the termination or cancellation of any Transaction to constitute a “contractual right” (as defined in the Bankruptcy Code); and 
	 	 	 	 
	 	 	(iv)	all payments for, under or in connection with each Transaction, all payments for the Shares (including, for the avoidance of doubt, payment of the Prepayment Amount) and the transfer of such Shares to constitute “settlement payments” and “transfers” (as defined in the Bankruptcy Code).
	 	 	 	 
	 	(b)	Counterparty acknowledges that:
	 	 	 	 
	 	 	(i)	during the term of any Transaction, JPMorgan and its Affiliates may buy or sell Shares or other securities or buy or sell options or futures contracts or enter into swaps or other derivative securities in order to establish, adjust or unwind its hedge position with respect to such Transaction; 
	 	 	 	 
	 	 	(ii)	JPMorgan and its Affiliates may also be active in the market for the Shares and Share-linked transactions other than in connection with hedging activities in relation to any Transaction; 
	 	 	 	 
	 	 	(iii)	JPMorgan shall make its own determination as to whether, when or in what manner any hedging or market activities in Counterparty’s securities shall be conducted and shall do so in a manner that it deems appropriate to hedge its price and market risk with respect to the Forward Price and the VWAP Price; 
	 	 	 	 
	 	 	(iv)	any market activities of JPMorgan and its Affiliates with respect to the Shares may affect the market price and volatility of the Shares, as well as the Forward Price and VWAP Price, each in a manner that may be adverse to Counterparty; and 
	 	 	 	 
	 	 	(v)	each Transaction is a derivatives transaction in which it has granted JPMorgan an option; JPMorgan may purchase shares for its own account at an average price that may be greater than, or less than, the price paid by Counterparty under the terms of the related Transaction. 
	 	 	 	 

	13.	No Collateral, Netting or Setoff. Notwithstanding any provision of the Agreement or any other agreement between the parties to the contrary, the obligations of Counterparty hereunder are not secured by any collateral. Obligations under any Transaction shall not be netted, recouped or set off (including pursuant to Section 6 of the Agreement) against any other obligations of the parties, whether arising under the Agreement, this Master Confirmation or any Supplemental Confirmation, or under any other agreement between the parties hereto, by operation of law or otherwise, and no other obligations of the parties shall be netted, recouped or set off (including pursuant to Section 6 of the Agreement) against obligations under any Transaction, whether arising under the Agreement, this Master Confirmation or any Supplemental Confirmation, or under any other agreement between the parties hereto, by operation of law or otherwise, and each party hereby waives any such right of setoff, netting or recoupment.

 

	14.	Alternative
    Termination Settlement. In the event that (a) an Early Termination Date (whether as a result of an Event of Default
    or a Termination Event) occurs or is designated with respect to any Transaction or (b) any Transaction is cancelled or terminated
    upon the occurrence of an Extraordinary Event (except as a result of (i) a Nationalization, Insolvency or Merger Event in
    which the consideration to be paid to holders of Shares consists solely of cash, (ii) a Merger Event or Tender Offer that
    is within Counterparty’s control, or (iii) an Event of Default in which Counterparty is the Defaulting Party or a Termination
    Event in which Counterparty is the Affected Party other than an Event of Default of the type described in Section 5(a)(iii),
    (v), (vi), (vii) or (viii) of the Agreement or a Termination Event of the type described in Section 5(b) of the Agreement,
    in each case that resulted from an event or events outside Counterparty’s control), if either party would owe any amount
    to the other party pursuant to Section 6(d)(ii) of the Agreement or any Cancellation Amount pursuant to Article 12 of the
    Equity Definitions (any such amount, a “Payment Amount”), then, in lieu of any payment of such Payment
    Amount, unless Counterparty makes an election to the contrary no later than the Early Termination Date or the date on which
    such Transaction is terminated or cancelled, Counterparty or JPMorgan, as the case may be, shall deliver to the other party
    a number of Shares (or, in the case of a Nationalization, Insolvency or Merger Event, a number of units, each comprising the
    number or amount of the securities or property that a hypothetical holder of one Share would receive in such Nationalization,
    Insolvency or Merger Event, as the case may be (each such unit, an “Alternative Delivery Unit”) with a
    value equal to the Payment Amount, as determined by the Calculation Agent over a commercially reasonable period of time (and
    the parties agree that, in making such determination of value, the Calculation Agent may take into account a number of factors,
    including, without limitation, the market price of the Shares or Alternative Delivery Units on the Early Termination Date
    or the date of early cancellation or termination, as the case may be, and, if such delivery is made by JPMorgan, the prices
    at which JPMorgan purchases Shares or Alternative Delivery Units to fulfill its delivery obligations under this Section 0);
    provided that in determining the composition of any Alternative Delivery Unit, if the relevant Nationalization, Insolvency
    or Merger Event involves a choice of consideration to be received by holders, such holder shall be deemed to have elected
    to receive the maximum possible amount of cash; and provided further that Counterparty may elect that the provisions
    of this Section 15 above providing for the delivery of Shares or Alternative Delivery Units, as the case may be, shall not
    apply only if Counterparty represents and warrants to JPMorgan, in writing on the date it notifies JPMorgan of such election,
    that, as of such date, Counterparty is not aware of any material non-public information regarding Counterparty or the Shares
    and is making such election in good faith and not as part of a plan or scheme to evade compliance with the federal securities
    laws. If delivery of Shares or Alternative Delivery Units, as the case may be, pursuant to this Section 15 is to be made by
    Counterparty, paragraphs 2 through 7 of Annex A hereto shall apply as if (A) such delivery were a settlement of such Transaction
    to which Net Share Settlement applied, (B) the Cash Settlement Payment Date were the Early Termination Date or the date of
    early cancellation or termination, as the case may be, and (C) the Forward Cash Settlement Amount were equal to (x) zero minus
    (y) the Payment Amount owed by Counterparty. For the avoidance of doubt, if Counterparty validly elects for the provisions
    of this Section 15 relating to the delivery of Shares or Alternative Delivery Units, as the case may be, not to apply to any
    Payment Amount, the provisions of Article 12 of the Equity Definitions, or the provisions of Section 6(d)(ii) of the Agreement,
    as the case may be, shall apply. If delivery of Shares or Alternative Delivery Units, as the case may be, is to be made by
    JPMorgan pursuant to this Section 0, the period during which JPMorgan purchases Shares or Alternative Delivery Units to fulfill
    its delivery obligations under this Section 0 shall be referred to as the “Seller Termination Purchase Period”.

 

	CORNING
    INCORPORATED - 2013 Form 10-K	10

    	 

    	

    

 

	15.	Calculations and
    Payment Date upon Early Termination. The parties acknowledge and agree that in calculating (a) the Close-Out Amount
    pursuant to Section 6 of the Agreement and (b) the amount due upon cancellation or termination of any Transaction (whether
    in whole or in part) pursuant to Article 12 of the Equity Definitions as a result of an Extraordinary Event, JPMorgan may
    (but need not) determine such amount based on (i) expected losses assuming a commercially reasonable (including, without limitation,
    with regard to reasonable legal and regulatory guidelines) risk bid were used to determine loss or (ii) the price at which
    one or more market participants would offer to sell to the Seller a block of shares of Common Stock equal in number to the
    Seller’s hedge position in relation to the Transaction. Notwithstanding anything to the contrary in Section 6(d)(ii)
    of the Agreement or Article 12 of the Equity Definitions, all amounts calculated as being due in respect of an Early Termination
    Date under Section 6(e) of the Agreement or upon cancellation or termination of the relevant Transaction under Article 12
    of the Equity Definitions will be payable on the day that notice of the amount payable is effective; provided that
    if Counterparty elects to receive or deliver Shares or Alternative Delivery Units in accordance with Section 0, such Shares
    or Alternative Delivery Units shall be delivered on a date selected by JPMorgan as promptly as practicable.
	 	 	 
	16.	Limit on Beneficial Ownership. Notwithstanding anything to the contrary in this Master
    Confirmation, Counterparty acknowledges and agrees that, on any day, JPMorgan shall not be obligated to receive from Counterparty
    any Shares, and Counterparty shall not be entitled to deliver to JPMorgan any Shares, to the extent (but only to the extent)
    that after such transactions JPMorgan’s ultimate parent entity would directly or indirectly “beneficially own”
    (as such term is defined for purposes of Section 13(d) of the Exchange Act) at any time on such day in excess of 8% of the
    outstanding Shares. Any purported receipt of Shares shall be void and have no effect to the extent (but only to the extent)
    that after such receipt, JPMorgan’s ultimate parent entity would directly or indirectly so beneficially own in excess
    of 8% of the outstanding Shares. If, on any day, any receipt of Shares by JPMorgan is not effected, in whole or in part, as
    a result of this Section 0, Counterparty’s obligations to deliver such Shares shall not be extinguished and any such
    delivery shall be effected over time by Counterparty as promptly as JPMorgan determines, such that after any such delivery,
    JPMorgan’s ultimate parent entity would not directly or indirectly beneficially own in excess of 8% of the outstanding
    Shares.
	 	 	 
	17.	Maximum Share Delivery. Notwithstanding anything to the contrary in this Master
    Confirmation, in no event shall JPMorgan be required to deliver any Shares, or any Shares or other securities comprising Alternative
    Delivery Units, in respect of any Transaction in excess of the Maximum Number of Shares set forth in the Supplemental Confirmation
    for such Transaction.
	 	 	 
	18.	Additional Termination Events.
	 	 	 
	 	(a)	Notwithstanding anything to the contrary in Section 6 of the Agreement, if a Termination Price is specified in the Supplemental Confirmation for any Transaction, then an Additional Termination Event will occur without any notice or action by JPMorgan or Counterparty if the closing price of the Shares on the Exchange for any two consecutive Exchange Business Days falls below such Termination Price and for the purposes of the Agreement, such second consecutive Exchange Business Day will be the “Early Termination Date”
	 	 	 
	 	(b)	Upon declaration of an Extraordinary Dividend by Counterparty’s Board of Directors that has an ex-dividend date during the period commencing on the Trade Date and ending of the last day of the Relevant Period or, if applicable, the later of the last day of the Settlement Valuation Period and the last day of the Seller Termination Purchase Period with Counterparty as the sole Affected Party.

 

	19.	Non-confidentiality.
                                                             Notwithstanding any provision in this Master Confirmation to the
                                                             contrary, in connection with Section 1.6011-4 of the Treasury Regulations,
                                                             the parties hereby agree that each party (and each employee, representative,
                                                             or other agent of such party) may disclose to any and all persons,
                                                             without limitation of any kind, the U.S. tax treatment and U.S. tax
                                                             structure of any Transaction and all materials of any kind (including
                                                             opinions or other tax analyses) that are provided to such party relating
                                                             to such U.S. tax treatment and U.S. tax structure, other than any
                                                             information for which nondisclosure is reasonably necessary in order
                                                             to comply with applicable securities laws.

 

	20.	Counterparty
    Indemnification. Counterparty agrees to indemnify and
    hold harmless JPMorgan and its officers, directors, employees, Affiliates, advisors, agents and controlling persons (each,
    an “Indemnified Person”) from and against any and all losses, claims, damages and liabilities, joint or
    several (collectively, “Obligations”), to which an Indemnified Person may become subject arising out of
    or attributable to: (a) any breach by Counterparty of its obligations under this Master Confirmation; (b) the incorrectness
    or inaccuracy of any of Counterparty’s representations or warranties; or (c) any violation by Counterparty of applicable
    laws or regulations relating to this Master Confirmation or any Transaction, or any claim, litigation, investigation or proceeding
    relating thereto, regardless of whether any of such Indemnified Person is a party thereto, and to reimburse, upon written
    request, each such Indemnified Person for any reasonable legal or other expenses incurred in connection with investigating,
    preparation for, providing evidence for or defending any of the foregoing; provided, however, that Counterparty shall
    not have any liability to any Indemnified Person to the extent that such Obligations (a) are finally determined by a court
    of competent jurisdiction to have resulted from the gross negligence or willful misconduct of such Indemnified Person (and
    in such case, such Indemnified Person shall promptly return to Counterparty any amounts previously expended by Counterparty
    hereunder) or (b) are trading losses incurred by JPMorgan as part of its purchases or sales of Shares pursuant to this Master
    Confirmation or any Supplemental Confirmation (unless such trading losses are a direct result of the breach of any agreement,
    term or covenant herein).
	 	 	 
	21.	Assignment and Transfer. Notwithstanding anything to the contrary in the Agreement,
    JPMorgan may assign any of its rights or duties hereunder to any one or more of its Affiliates without the prior written consent
    of Counterparty. Notwithstanding any other provision in this Master Confirmation to the contrary requiring or allowing JPMorgan
    to purchase, sell, receive or deliver any Shares or other securities to or from Counterparty, JPMorgan may designate any of
    its Affiliates to purchase, sell, receive or deliver such Shares or other securities and otherwise to perform JPMorgan’s
    obligations in respect of any Transaction and any such designee may assume such obligations. JPMorgan may assign the right
    to receive Settlement Shares to any third party who may legally receive Settlement Shares. JPMorgan shall be discharged of
    its obligations to Counterparty only to the extent of any such performance. For the avoidance of doubt, JPMorgan hereby acknowledges
    that notwithstanding any such designation hereunder, to the extent any of JPMorgan’s obligations in respect of any Transaction
    are not completed by its designee, JPMorgan shall be obligated to continue to perform or to cause any other of its designees
    to perform in respect of such obligations.
	 	 	 
	22.	Amendments to the Equity
    Definitions.
	 	 
	 	(a)	Section 12.6(a)(ii) of the Equity Definitions is hereby amended by (i) deleting from the fourth line thereof the word “or” after the word “official” and inserting a comma therefor, and (ii) deleting the semi-colon at the end of subsection (B) thereof and inserting the following words therefor “or (C) at JPMorgan’s option, the occurrence of any of the events specified in Section 5(a)(vii) (1) through (9) of the ISDA Master Agreement with respect to that Issuer.”

 

	CORNING
    INCORPORATED - 2013 Form 10-K	11

    	 

    	

    

	 	(b)	Section 12.9(b)(iv) of the Equity Definitions is hereby amended by:
	 	 	 	 
	 	 	(i)	deleting (1) subsection (A) in its entirety, (2) the phrase “or (B)” following subsection (A) and (3) the phrase “in each case” in subsection (B); and
	 	 	 	 
	 	 	(ii)	replacing the phrase “neither the Non-Hedging Party nor the Lending Party lends Shares” with the phrase “such Lending Party does not lend Shares” in the penultimate sentence.
	 	 	 	 
	 	(c)	Section 11.2(e) of the Equity Definitions is hereby amended by (i) deleting item (v) in its entirety and (ii) inserting the words “(other than the issuance by the Counterparty of the Preferred Stock)” after the word “event” in item (vii).
	 	 	 
	 	(d)	Section 12.9(b)(v) of the Equity Definitions is hereby amended by:
	 	 	 	 
	 	 	(i)	deleting the penultimate sentence in its entirety and replacing it with the sentence “The Hedging Party will determine the Cancellation Amount payable by one party to the other” and (ii) deleting clause (X) in the final sentence.

 

	23.	Status
    of Claims in Bankruptcy. JPMorgan acknowledges and agrees that neither this Master Confirmation nor any Supplemental
    Confirmation is intended to convey to JPMorgan rights against Counterparty with respect to any Transaction that are senior
    to the claims of common stockholders of Counterparty in any United States bankruptcy proceedings of Counterparty; provided
    that nothing herein shall limit or shall be deemed to limit JPMorgan’s right to pursue remedies in the event of
    a breach by Counterparty of its obligations and agreements with respect to any Transaction; provided further that nothing
    herein shall limit or shall be deemed to limit JPMorgan’s rights in respect of any transactions other than any Transaction.
	 	 
	24.	Wall
    Street Transparency and Accountability Act. In connection with Section 739 of the Wall Street Transparency
    and Accountability Act of 2010 (“WSTAA”), the parties hereby agree that neither the enactment of WSTAA or any
    regulation under the WSTAA, nor any requirement under WSTAA or an amendment made by WSTAA, nor any similar legal certainty
    provision in any legislation enacted, or rule or regulation promulgated, on or after the date of this Master Confirmation,
    shall limit or otherwise impair either party’s otherwise applicable rights to terminate, renegotiate, modify, amend
    or supplement any Supplemental Confirmation, this Master Confirmation or the Agreement, as applicable, arising from a termination
    event, force majeure, illegality, increased costs, regulatory change or similar event under any Supplemental Confirmation,
    this Master Confirmation, the Equity Definitions incorporated herein, or the Agreement (including, without limitation, rights
    arising from Change in Law, Loss of Stock Borrow, Increased Cost of Stock Borrow, or Illegality).
	 	 
	25.	Role
    of Agent. Each party agrees and acknowledges that (a) JPMS, an Affiliate of JPMorgan, has acted solely as agent
    and not as principal with respect to this Master Confirmation and each Transaction and (b) JPMS has no obligation or liability,
    by way of guaranty, endorsement or otherwise, in any manner in respect of any Transaction (including, if applicable, in respect
    of the settlement thereof). Each party agrees it will look solely to the other party (or any guarantor in respect thereof)
    for performance of such other party’s obligations under any Transaction. JPMS is authorized to act as agent for JPMorgan.
	 	 
	26.	Waiver
    of Jury Trial.  EACH PARTY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
    RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING RELATING TO THE AGREEMENT, THIS MASTER CONFIRMATION,
    EACH SUPPLEMENTAL CONFIRMATION, THE TRANSACTIONS HEREUNDER AND ALL MATTERS ARISING IN CONNECTION WITH THE AGREEMENT, THIS
    MASTER CONFIRMATION AND ANY SUPPLEMENTAL CONFIRMATION AND THE TRANSACTIONS HEREUNDER. EACH PARTY (I) CERTIFIES THAT NO REPRESENTATIVE,
    AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT
    OF SUCH A SUIT, ACTION OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER AND (II) ACKNOWLEDGES THAT IT AND THE OTHER PARTY
    HAVE BEEN INDUCED TO ENTER INTO THE TRANSACTIONS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
    PROVIDED HEREIN.
	 	 
	27.	Counterparts. This Master Confirmation may be executed in any number of counterparts, all of which shall constitute one and
    the same instrument, and any party hereto may execute this Master Confirmation by signing and delivering one or more counterparts.

 

Please confirm that the foregoing correctly
sets forth the terms of our agreement by executing this Master Confirmation and returning it to us.

 

	 	Very truly yours,
	 	 
	 	J.P. MORGAN SECURITIES LLC, as agent for JPMorgan Chase Bank, National
    Association
	 	 	 
	 	By:	/s/ Brian Lehman
	 	Authorized Signatory
	 	Name: 	Brian Lehman, Managing Director

Accepted and confirmed

as of the date first set

forth above:

 

	CORNING
    INCORPORATED	 
	 	 	 
	By:	/s/ Robert Vanni	 
	Authorized Signatory	 
	Name: 	Robert Vanni, Assistant Treasurer	 

 

	CORNING INCORPORATED - 2013 Form 10-K	12

    	 

    	

    

SCHEDULE
A      Form of Supplemental Confirmation

 

JPMorgan Chase Bank, National Association

P.O. Box 161

60 Victoria Embankment

London EC4Y 0JP

England

 

[_______], 20[__]

 

	To:	Corning Incorporated	 	 	 
	 	[________________]	 	 	 
	 	[________________]	 	 	 
	 	Attention:	[Title of contact]	 	 
	 	Telephone No.:	[____________]	 	 
	 	Facsimile No.:	[____________]	 	 

 

Re: Supplemental Confirmation—Uncollared
Accelerated Share Repurchase

 

The purpose of this Supplemental Confirmation
is to confirm the terms and conditions of the Transaction entered into between J.P. Morgan Securities LLC, as agent for JPMorgan
Chase Bank, National Association, London Branch (“JPMorgan”), and Corning Incorporated, a New York corporation
(“Counterparty”) on the Trade Date specified below. This Supplemental Confirmation is a binding contract between
JPMorgan and Counterparty as of the relevant Trade Date for the Transaction referenced below.

 

	1.	This Supplemental
    Confirmation supplements, forms part of, and is subject to the Master Confirmation, dated as of October 31, 2013 (the “Master
    Confirmation”), between JPMorgan and Counterparty, as amended and supplemented from time to time. All provisions
    contained in the Master Confirmation govern this Supplemental Confirmation except as expressly modified below. 
	 	 
	2.	The terms of the Transaction to which this Supplemental Confirmation relates are as follows: 
	 	 

	Trade Date:	[__________], 20[__]
	Forward Price Adjustment Amount:	USD [___]
	Calculation Period Start Date:	The [__]th Scheduled Trading Day immediately following the Trade Date.
	Scheduled Termination Date:	The [__]th Scheduled Trading Day immediately following the Trade Date.
	First Acceleration Date:	The [__]th Scheduled Trading Day immediately following the Trade Date.
	Prepayment Amount:	USD [___]
	Prepayment Date:	[__________], 20[__]

 

	CORNING INCORPORATED - 2013 Form 10-K 	A-1

    	 

    	

    

	Initial Shares: 	[___] Shares; provided that if, in connection with the Transaction, JPMorgan is unable, after using commercially reasonable efforts, to borrow or otherwise acquire a number of Shares equal to the Initial Shares for delivery to Counterparty on the Initial Share Delivery Date, the Initial Shares delivered on the Initial Share Delivery Date shall be reduced to such number of Shares that JPMorgan is able to so borrow or otherwise acquire provided further that (i) if the Initial Shares are reduced as provided in the preceding proviso, then JPMorgan shall use commercially reasonable efforts to borrow or otherwise acquire an additional number of Shares equal to the shortfall in the Initial Shares delivered on the Initial Share Delivery Date and shall deliver such additional Shares as promptly as practicable, and all Shares so delivered shall be considered Initial Shares, and (ii) if fewer than [same number as above] Initial Shares are so delivered in the aggregate on or prior to the second Exchange Business Day following the Initial Share Delivery Date, then (A) the Prepayment Amount shall be reduced by an amount equal to (x)(I) [same number as above] minus (II) the aggregate number of Initial Shares so delivered on or prior to such second Exchange Business Day multiplied by (y) USD [insert closing price on the Trade Date] divided by (z) [  ], and (B) JPMorgan shall return to Counterparty on such second Exchange Business Day the amount by which the Prepayment Amount is so reduced. All Shares delivered to Counterparty in respect of the Transaction pursuant to this paragraph shall be the “Initial Shares” for purposes of “Number of Shares to be Delivered” in the Master Confirmation.
	Initial Share Delivery Date:	[__________], 20[__]
	Ordinary Dividend Amount:	For any Dividend before the Termination Date, USD [___] per Share For any Dividend after the Termination Date, USD 0.00 per Share
	Scheduled Ex-Dividend Dates:	[__________]
	Maximum Stock Loan Rate:	400 basis points per annum
	Initial Stock Loan Rate:	60 basis points per annum
	Maximum Number of Shares:	[___]1 Shares
	Floor Price:	USD 0.01 per Share
	Contract Fee:	USD [___]
	Termination Price:	USD [___] per Share
	Excluded Days:	November 29, 2013 and December 24, 2013.
	Additional Relevant Days:	The [___] Exchange Business Days immediately following the Calculation Period.
	Reserved Shares:	Notwithstanding anything to the contrary in the Master Confirmation, as of the date of this Supplemental Confirmation, the Reserved Shares shall be equal to [___] Shares.

 

	1	To be approximately 50% of the total number of Shares outstanding on the Trade Date.

 

	3.	Counterparty represents and warrants to JPMorgan that neither it nor any “affiliated purchaser” (as defined in Rule 10b-18 under the Exchange Act) has made any purchases of blocks pursuant to the proviso in Rule 10b-18(b)(4) under the Exchange Act during either (i) the four full calendar weeks immediately preceding the Trade Date or (ii) during the calendar week in which the Trade Date occurs, except as set forth in any notice delivered pursuant to Section 6(b)(xv) of the Master Confirmation. 
	 	 
	4.	This Supplemental Confirmation may be executed in any number of counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this Supplemental Confirmation by signing and delivering one or more counterparts. 

 

Please confirm that the foregoing correctly
sets forth the terms of our agreement by executing this Supplemental Confirmation and returning it to us.

 

	 	Very truly yours,
	 	 
	 	J.P.
    MORGAN SECURITIES LLC, as agent for JPMorgan Chase Bank, National Association
	 	 	 
	 	By:	 
	Accepted and confirmed	Authorized Signatory
	as of the Trade Date:	Name:	 
	 	 	 

	CORNING
    INCORPORATED	 
	 	 	 
	By:	 	 
	Authorized Signatory	 
	Name:	 	 

 

	CORNING INCORPORATED - 2013 Form 10-K 	A-2

    	 

    	

    

SCHEDULE
B     Form of Certificate Of Rule 10B-18 Purchases

 

[Letterhead of Counterparty]

 

JPMorgan Chase Bank, National Association

c/o J.P. Morgan Securities LLC

383 Madison Avenue

5th Floor

New York, New York 10172

 

Re: Uncollared Accelerated Share Repurchase

 

Ladies and Gentlemen:

 

In connection with our entry into the Master
Confirmation, dated as of October 13, 2013, between J.P. Morgan Securities LLC, as agent for JPMorgan Chase Bank, National Association,
London Branch, and Corning Incorporated, a New York corporation, as amended and supplemented from time to time (the “Master
Confirmation”), we hereby represent that set forth below is the total number of shares of our common stock purchased
by or for us or any of our affiliated purchasers in Rule 10b-18 purchases of blocks (all as defined in Rule 10b-18 under the Securities
Exchange Act of 1934) pursuant to the once-a-week block exception set forth in Rule 10b-18(b)(4) during the four full calendar
weeks immediately preceding the first day of the [Calculation Period][Settlement Valuation Period][Seller Termination Purchase
Period] (as defined in the Master Confirmation) and the week during which the first day of such [Calculation Period][Settlement
Valuation Period][Seller Termination Purchase Period] occurs.

 

Number of Shares: __________________

 

We understand that you will use this information
in calculating trading volume for purposes of Rule 10b-18.

 

	Very truly yours,	 
	 	 
	CORNING
    INCORPORATED	 
	 	 	 
	By:	 	 
	Authorized Signatory	 
	Name:	 	 

 

	CORNING INCORPORATED - 2013 Form 10-K	B-1

    	 

    	

    

ANNEX
A     Counterparty Settlement Provisions

 

	1.	The following Counterparty Settlement Provisions shall apply to any Transaction to the extent indicated
under the Master Confirmation:

 

	Settlement Currency:	USD
	Settlement Method Election:	Applicable; provided that (i) Section 7.1 of the Equity Definitions is hereby amended by deleting the word “Physical” in the sixth line thereof and replacing it with the words “Net Share” and  (ii) the Electing Party may make a settlement method election only if the Electing Party represents and warrants to JPMorgan in writing on the date it notifies JPMorgan of its election that, as of such date, the Electing Party is not aware of any material non-public information regarding Counterparty or the Shares and is electing the settlement method in good faith and not as part of a plan or scheme to evade compliance with the federal securities laws. 
	Electing Party:	Counterparty
	Settlement Method Election Date:	Subsequent to the expiration of the Settlement Valuation Period, the earlier of (i) the date on which Counterparty is able to make the representation and warranty required for such election, as provided under “Settlement Method Election”, and (ii) the 45th calendar day following the conclusion of the Settlement Valuation Period.
	Default Settlement Method:	Cash Settlement
	Forward Cash Settlement Amount:	An amount equal to (a) the Number of Shares to be Delivered, multiplied by (b) the Settlement Price. 
	Settlement Price:	An amount equal to the sum of the average of the VWAP Prices for the Exchange Business Days in the Settlement Valuation Period, plus USD 0.01, subject to Valuation Disruption as specified in the Master Confirmation (in each case, plus interest on such amount during the period beginning with the commencement of the Settlement Valuation Period and ending with the Cash Settlement Payment Date at the rate of interest for Counterparty’s long term, unsecured and unsubordinated indebtedness, as determined by the Calculation Agent).
	Settlement Valuation Period:	A number of Scheduled Trading Days selected by JPMorgan in its reasonable discretion by notice to Counterparty on or prior to the second Schedule Trading Day prior to the last Scheduled Trading Day thereof, beginning on the Scheduled Trading Day immediately following the earlier of (i) the Scheduled Termination Date or (ii) the Exchange Business Day immediately following the Termination Date.
	Cash Settlement:	If Cash Settlement is applicable, then Buyer shall pay to JPMorgan the absolute value of the Forward Cash Settlement Amount on the Cash Settlement Payment Date. 
	Cash Settlement Payment Date:	The Exchange Business Day immediately following the date of Counterparty’s Settlement Method Election or, if no election is made, the Settlement Method Election Date. 
	Net Share Settlement Procedures:	If Net Share Settlement is applicable, Net Share Settlement shall be made in accordance with paragraphs 2 through 7 below. 

 

	2.	Net
                                         Share Settlement shall be made by delivery on the Cash Settlement Payment Date of a number
                                         of Shares satisfying the conditions set forth in paragraph 3 below (the “Registered
                                         Settlement Shares”), or a number of Shares not satisfying such conditions (the
                                         “Unregistered Settlement Shares”), in either case with a value equal
                                         to 101% (in the case of Registered Settlement Shares) or 105% (in the case of Unregistered
                                         Settlement Shares) of the absolute value of the Forward Cash Settlement Amount, with
                                         such Shares’ value based on the value thereof to JPMorgan (which value shall, in
                                         the case of Unregistered Settlement Shares, take into account a commercially reasonable
                                         illiquidity discount), in each case as determined by the Calculation Agent. If all of
                                         the conditions for delivery of either Registered Settlement Shares or Unregistered Settlement
                                         Shares have not been satisfied, Cash Settlement shall be applicable in accordance with
                                         paragraph 1 above notwithstanding Counterparty’s election of Net Share Settlement.

 

	3.	Counterparty may only deliver Registered Settlement Shares pursuant to paragraph 2 above if:

 

		(a)	a
                                         registration statement covering public resale of the Registered Settlement Shares by
                                         JPMorgan (the “Registration Statement”) shall have been filed with
                                         the Securities and Exchange Commission under the Securities Act and been declared or
                                         otherwise become effective on or prior to the date of delivery, and no stop order shall
                                         be in effect with respect to the Registration Statement; a printed prospectus relating
                                         to the Registered Settlement Shares (including, without limitation, any prospectus supplement
                                         thereto, the “Prospectus”) shall have been delivered to JPMorgan,
                                         in such quantities as JPMorgan shall reasonably have requested, on or prior to the date
                                         of delivery;

 

		(b)	the form and content of the Registration Statement and the Prospectus (including, without limitation,
any sections describing the plan of distribution) shall be satisfactory to JPMorgan;

 

		(c)	as of or prior to the date of delivery, JPMorgan and its agents shall have been afforded a reasonable
opportunity to conduct a due diligence investigation with respect to Counterparty customary in scope for underwritten offerings
of equity securities and the results of such investigation are satisfactory to JPMorgan, in its discretion; and

 

		(d)	as
                                         of the date of delivery, an agreement (the “Underwriting Agreement”)
                                         shall have been entered into with JPMorgan in connection with the public resale of the
                                         Registered Settlement Shares by JPMorgan substantially similar to underwriting agreements
                                         customary for underwritten offerings of equity securities, in form and substance satisfactory
                                         to JPMorgan, which Underwriting Agreement shall include, without limitation, provisions
                                         substantially similar to those contained in such underwriting agreements relating, without
                                         limitation, to the indemnification of, and contribution in connection with the liability
                                         of, JPMorgan and its Affiliates and the provision of customary opinions, accountants’
                                         comfort letters and lawyers’ negative assurance letters.

 

	CORNING INCORPORATED - 2013 Form 10-K 	Annex A-1

    	 

    	

    

	4.	If Counterparty delivers Unregistered Settlement Shares pursuant to paragraph 2 above:

 

		(a)	all Unregistered Settlement Shares shall be delivered to JPMorgan (or any Affiliate of JPMorgan
designated by JPMorgan) pursuant to the exemption from the registration requirements of the Securities Act provided by Section
4(2) thereof;

 

		(b)	as of or prior to the date of delivery, JPMorgan and any potential purchaser of any such shares
from JPMorgan (or any Affiliate of JPMorgan designated by JPMorgan) identified by JPMorgan shall be afforded a commercially reasonable
opportunity to conduct a due diligence investigation with respect to Counterparty customary in scope for similar size of private
placements of equity securities (including, without limitation, the right to have made available to them for inspection all financial
and other records, pertinent corporate documents and other information reasonably requested by them); provided that prior
to receiving or being granted access to any such information, any such potential purchaser may be required by Counterparty to enter
into a customary nondisclosure agreement with Counterparty in respect of any such due diligence investigation;

 

		(c)	as
                                                                                                           of the date of delivery,
                                                                                                           Counterparty shall
                                                                                                           enter into an agreement
                                                                                                           (a “Private
                                                                                                           Placement Agreement”)
                                                                                                           with JPMorgan (or any
                                                                                                           Affiliate of JPMorgan
                                                                                                           designated by JPMorgan)
                                                                                                           in connection with
                                                                                                           the private placement
                                                                                                           of such shares by Counterparty
                                                                                                           to JPMorgan (or any
                                                                                                           such Affiliate) and
                                                                                                           the private resale
                                                                                                           of such shares by JPMorgan
                                                                                                           (or any such Affiliate),
                                                                                                           substantially similar
                                                                                                           to private placement
                                                                                                           purchase agreements
                                                                                                           customary for private
                                                                                                           placements of equity
                                                                                                           securities, in form
                                                                                                           and substance commercially
                                                                                                           reasonably satisfactory
                                                                                                           to JPMorgan, which
                                                                                                           Private Placement Agreement
                                                                                                           shall include, without
                                                                                                           limitation, provisions
                                                                                                           substantially similar
                                                                                                           to those contained
                                                                                                           in such private placement
                                                                                                           purchase agreements
                                                                                                           relating, without limitation,
                                                                                                           to the indemnification
                                                                                                           of, and contribution
                                                                                                           in connection with
                                                                                                           the liability of, JPMorgan
                                                                                                           and its Affiliates
                                                                                                           and the provision of
                                                                                                           customary opinions,
                                                                                                           accountants’
                                                                                                           comfort letters and
                                                                                                           lawyers’ negative
                                                                                                           assurance letters,
                                                                                                           and shall provide for
                                                                                                           the payment by Counterparty
                                                                                                           of all reasonable fees
                                                                                                           and actual, documented
                                                                                                           out-of-pocket expenses
                                                                                                           of JPMorgan (and any
                                                                                                           such Affiliate) in
                                                                                                           connection with such
                                                                                                           resale, including,
                                                                                                           without limitation,
                                                                                                           all reasonable fees
                                                                                                           and actual, documented
                                                                                                           out-of-pocket expenses
                                                                                                           of counsel for JPMorgan,
                                                                                                           and shall contain representations,
                                                                                                           warranties, covenants
                                                                                                           and agreements of Counterparty
                                                                                                           reasonably necessary
                                                                                                           or advisable to establish
                                                                                                           and maintain the availability
                                                                                                           of an exemption from
                                                                                                           the registration requirements
                                                                                                           of the Securities Act
                                                                                                           for such resales; and

 

		(d)	in connection with the private placement of such shares by Counterparty to JPMorgan (or any such
Affiliate) and the private resale of such shares by JPMorgan (or any such Affiliate), Counterparty shall, if so requested by JPMorgan,
prepare, in cooperation with JPMorgan, a private placement memorandum in form and substance reasonably satisfactory to JPMorgan.

 

	5.	JPMorgan,
                                         itself or through an Affiliate (the “Selling Agent”) or any underwriter(s),
                                         will sell all, or such lesser portion as may be required hereunder, of the Registered
                                         Settlement Shares or Unregistered Settlement Shares and any Makewhole Shares (as defined
                                         below) (together, the “Settlement Shares”) delivered by Counterparty
                                         to JPMorgan pursuant to paragraph 6 below commencing on the Cash Settlement Payment Date
                                         and continuing until the date on which the aggregate Net Proceeds (as such term is defined
                                         below) of such sales, as determined by JPMorgan, is equal to the absolute value of the
                                         Forward Cash Settlement Amount (such date, the “Final Resale Date”).
                                         If Counterparty is prohibited by law or by contract from disclosing all material information
                                         known to Counterparty with respect to Counterparty and the Shares to any potential purchasers
                                         of such Settlement Shares, then the sale of such Settlement Shares shall not be required
                                         to commence or may be suspended until Counterparty is able to so disclose such information.
                                         If the proceeds of any sale(s) made by JPMorgan, the Selling Agent or any underwriter(s),
                                         net of any fees and commissions (including, without limitation, underwriting or placement
                                         fees) customary for similar transactions under the circumstances at the time of the offering,
                                         together with carrying charges and expenses incurred in connection with the offer and
                                         sale of the Shares (including, without limitation, the covering of any over-allotment
                                         or short position (syndicate or otherwise)) (the “Net Proceeds”) exceed
                                         the absolute value of the Forward Cash Settlement Amount, JPMorgan will refund, in USD,
                                         such excess to Counterparty on the date that is three (3) Currency Business Days following
                                         the Final Resale Date, and, if any portion of the Settlement Shares remains unsold, JPMorgan
                                         shall return to Counterparty on that date such unsold Shares.

 

	6.	If
                                         the Calculation Agent determines that the Net Proceeds received from the sale of the
                                         Registered Settlement Shares or Unregistered Settlement Shares or any Makewhole Shares,
                                         if any, pursuant to this paragraph 6 are less than the absolute value of the Forward
                                         Cash Settlement Amount (the amount in USD by which the Net Proceeds are less than the
                                         absolute value of the Forward Cash Settlement Amount being the “Shortfall”
                                         and the date on which such determination is made, the “Deficiency Determination
                                         Date”), Counterparty shall on the Exchange Business Day next succeeding the
                                         Deficiency Determination Date (the “Makewhole Notice Date”) deliver
                                         to JPMorgan, through the Selling Agent, a notice of Counterparty’s election that
                                         Counterparty shall either (i) pay an amount in cash equal to the Shortfall on the day
                                         that is one Currency Business Day after the Makewhole Notice Date, or (ii) deliver additional
                                         Shares. If Counterparty elects to deliver to JPMorgan additional Shares, then Counterparty
                                         shall deliver additional Shares in compliance with the terms and conditions of paragraph
                                         3 or paragraph 4 above, as the case may be (the “Makewhole Shares”),
                                         on the first Clearance System Business Day which is also an Exchange Business Day following
                                         the Makewhole Notice Date in such number as the Calculation Agent reasonably believes
                                         would have a market value on that Exchange Business Day equal to the Shortfall. Such
                                         Makewhole Shares shall be sold by JPMorgan in accordance with the provisions above; provided
                                         that if the sum of the Net Proceeds from the sale of the originally delivered Shares
                                         and the Net Proceeds from the sale of any Makewhole Shares is less than the absolute
                                         value of the Forward Cash Settlement Amount then Counterparty shall, at its election,
                                         either make such cash payment or deliver to JPMorgan further Makewhole Shares until such
                                         Shortfall has been reduced to zero.

 

	7.	Notwithstanding
                                         the foregoing, in no event shall the aggregate number of Settlement Shares for any Transaction
                                         be greater than the Reserved Shares minus the amount of any Shares actually delivered
                                         by Counterparty under any other Transaction under this Master Confirmation (the result
                                         of such calculation, the “Capped Number”). Counterparty represents
                                         and warrants (which shall be deemed to be repeated on each day that a Transaction is
                                         outstanding) that the Capped Number is equal to or less than the number of Shares determined
                                         according to the following formula:

 

	CORNING INCORPORATED - 2013 Form 10-K 	Annex A-2

    	 

    	

    

	A – B
	 	Where	A	=	the number of authorized but unissued shares of Counterparty that are not reserved for future issuance on the date of the determination of the Capped Number; and
	 	 	B	+	the maximum number of Shares required to be delivered to third parties if Counterparty elected Net Share Settlement of all transactions in the Shares (other than Transactions in the Shares under this Master Confirmation) with all third parties that are then currently outstanding and unexercised. 

 

“Reserved Shares” means
initially, 115,000,000 Shares. The Reserved Shares may be increased or decreased in a Supplemental Confirmation.

 

If at any time, as a result of this paragraph
7, Counterparty fails to deliver to JPMorgan any Settlement Shares, Counterparty shall, to the extent that Counterparty has at
such time authorized but unissued Shares not reserved for other purposes, promptly notify JPMorgan thereof and deliver to JPMorgan
a number of Shares not previously delivered as a result of this paragraph 7.

 

	CORNING INCORPORATED - 2013 Form 10-K 	Annex A-3EXHIBIT 10.69

	EXHIBIT 10.69     	Corning Incorporated Cash Performance Unit Agreement

 

Corporate Performance Plan For [Year]

 

(Terms and Conditions)

 

This Cash Performance Unit Agreement (“Agreement”)
dated ___________ between Corning Incorporated (the “Company”) and the employee named below (the “Employee”)
is subject in all respects to the Company’s 2012 Long-Term Incentive Plan as amended from time to time (the “Plan”),
a copy of which may be obtained from the Company’s Secretary at One Riverfront Plaza, Corning, New York 14831. Capitalized
terms not otherwise defined herein shall have the meaning ascribed thereto in the Plan.

 

		1.	Award
                                                                                                                                             of
                                                                                                                                             Units.
                                                                                                                                             The
                                                                                                                                             Company
                                                                                                                                             hereby
                                                                                                                                             awards
                                                                                                                                             to
                                                                                                                                             the
                                                                                                                                             Employee
                                                                                                                                             the
                                                                                                                                             number
                                                                                                                                             of
                                                                                                                                             Cash
                                                                                                                                             Performance
                                                                                                                                             Units
                                                                                                                                             (the
                                                                                                                                             “Cash
                                                                                                                                             Units”),
                                                                                                                                             with
                                                                                                                                             a
                                                                                                                                             potential
                                                                                                                                             aggregate
                                                                                                                                             value
                                                                                                                                             equal
                                                                                                                                             to
                                                                                                                                             $______,
                                                                                                                                             indicated
                                                                                                                                             below.

 

	 	Employee	 	Employee Number	 	Target Number of

Cash Units

 

Each Cash Unit shall entitle
the Employee to receive from the Company an amount equal to $1. The Cash Units, if any, shall be paid to the Employee at the time
set forth in Section 5 in the manner set forth in Section 6 provided that both the “Performance-Based Vesting Requirement”
set forth in Section 3 and the “Service Based Vesting Requirement” set forth in Section 4 are satisfied. Prior to
vesting pursuant to Sections 3 and 4, the Cash Units shall not be earned and shall remain subject to forfeiture.

 

		2.	Non-Transferability.
                                                                                                                                            The
                                                                                                                                            Cash
                                                                                                                                            Units
                                                                                                                                            may
                                                                                                                                            not
                                                                                                                                            be
                                                                                                                                            sold,
                                                                                                                                            assigned,
                                                                                                                                            transferred,
                                                                                                                                            pledged
                                                                                                                                            or
                                                                                                                                            otherwise
                                                                                                                                            encumbered
                                                                                                                                            by
                                                                                                                                            or
                                                                                                                                            on
                                                                                                                                            behalf
                                                                                                                                            of
                                                                                                                                            or
                                                                                                                                            for
                                                                                                                                            the
                                                                                                                                            benefit
                                                                                                                                            of
                                                                                                                                            the
                                                                                                                                            Employee
                                                                                                                                            other
                                                                                                                                            than
                                                                                                                                            by
                                                                                                                                            last
                                                                                                                                            will
                                                                                                                                            and
                                                                                                                                            testament,
                                                                                                                                            by
                                                                                                                                            the
                                                                                                                                            laws
                                                                                                                                            of
                                                                                                                                            descent
                                                                                                                                            and
                                                                                                                                            distribution,
                                                                                                                                            pursuant
                                                                                                                                            to
                                                                                                                                            a
                                                                                                                                            domestic
                                                                                                                                            relations
                                                                                                                                            order
                                                                                                                                            or
                                                                                                                                            as
                                                                                                                                            otherwise
                                                                                                                                            permitted
                                                                                                                                            by
                                                                                                                                            the
                                                                                                                                            Committee
                                                                                                                                            pursuant
                                                                                                                                            to
                                                                                                                                            Section
                                                                                                                                            12
                                                                                                                                            of
                                                                                                                                            the
                                                                                                                                            Plan.

 

		3.	Performance
                                                                                                                                            Based
                                                                                                                                            Vesting
                                                                                                                                            Requirement.

 

		(a)	Within
                                                                                                                                                                                           ninety
                                                                                                                                                                                           days
                                                                                                                                                                                           following
                                                                                                                                                                                           the
                                                                                                                                                                                           beginning
                                                                                                                                                                                           of
                                                                                                                                                                                           each
                                                                                                                                                                                           fiscal
                                                                                                                                                                                           year
                                                                                                                                                                                           ending
                                                                                                                                                                                           on
                                                                                                                                                                                           December
                                                                                                                                                                                           31st
                                                                                                                                                                                           20__,
                                                                                                                                                                                           20__
                                                                                                                                                                                           and
                                                                                                                                                                                           20__
                                                                                                                                                                                           (each
                                                                                                                                                                                           an
                                                                                                                                                                                           “Annual
                                                                                                                                                                                           Performance
                                                                                                                                                                                           Period”
                                                                                                                                                                                           and
                                                                                                                                                                                           collectively,
                                                                                                                                                                                           the
                                                                                                                                                                                           “Performance
                                                                                                                                                                                           Period”),
                                                                                                                                                                                           the
                                                                                                                                                                                           Compensation
                                                                                                                                                                                           Committee
                                                                                                                                                                                           of
                                                                                                                                                                                           the
                                                                                                                                                                                           Company’s
                                                                                                                                                                                           Board
                                                                                                                                                                                           of
                                                                                                                                                                                           Directors
                                                                                                                                                                                           (the
                                                                                                                                                                                           “Committee”)
                                                                                                                                                                                           shall
                                                                                                                                                                                           determine
                                                                                                                                                                                           performance
                                                                                                                                                                                           targets
                                                                                                                                                                                           (each
                                                                                                                                                                                           a
                                                                                                                                                                                           “Performance
                                                                                                                                                                                           Target”)
                                                                                                                                                                                           applicable
                                                                                                                                                                                           to
                                                                                                                                                                                           the
                                                                                                                                                                                           fiscal
                                                                                                                                                                                           year.
                                                                                                                                                                                           Such
                                                                                                                                                                                           targets
                                                                                                                                                                                           will
                                                                                                                                                                                           be
                                                                                                                                                                                           communicated
                                                                                                                                                                                           annually
                                                                                                                                                                                           to
                                                                                                                                                                                           the
                                                                                                                                                                                           Employee.
                                                                                                                                                                                           The
                                                                                                                                                                                           Employee
                                                                                                                                                                                           shall
                                                                                                                                                                                           earn
                                                                                                                                                                                           a
                                                                                                                                                                                           number
                                                                                                                                                                                           of
                                                                                                                                                                                           Cash
                                                                                                                                                                                           Units
                                                                                                                                                                                           based
                                                                                                                                                                                           upon
                                                                                                                                                                                           the
                                                                                                                                                                                           average
                                                                                                                                                                                           level
                                                                                                                                                                                           of
                                                                                                                                                                                           attainment
                                                                                                                                                                                           of
                                                                                                                                                                                           the
                                                                                                                                                                                           Performance
                                                                                                                                                                                           Targets
                                                                                                                                                                                           over
                                                                                                                                                                                           the
                                                                                                                                                                                           Performance
                                                                                                                                                                                           Period
                                                                                                                                                                                           as
                                                                                                                                                                                           determined
                                                                                                                                                                                           by
                                                                                                                                                                                           the
                                                                                                                                                                                           Committee
                                                                                                                                                                                           pursuant
                                                                                                                                                                                           to
                                                                                                                                                                                           the
                                                                                                                                                                                           Plan.
	 	 	 
	 	 	For purposes of determining
the number of Cash Units that the Employee will earn at the end of the Performance Period, performance will be calculated as the
simple average of the actual level of attainment of the Performance Targets for each Annual Performance Period. Any Cash Units
that are not earned pursuant to this Section 3 at the end of the Performance Period shall be forfeited.

 

		(b)	If during the Performance Period
                                                                the Employee’s employment with the Company and its Subsidiaries
                                                                (the “Company Group”) is terminated pursuant to Sections
                                                                4(a), 4(c), 4(d), 4(e) or 4(f) below, the number of Cash Units
                                                                will be reduced by a ratio the numerator of which is 12 minus
                                                                the number of full calendar months the Employee was actively employed
                                                                during the first Annual Performance Period and the denominator
                                                                of which is 12;

 

		(c)	If during the Performance Period
                                                                the Employee’s employment with the Company Group is terminated
                                                                pursuant to Section 4(b), the number of Cash Units will be reduced
                                                                by a ratio the numerator of which is the number of full calendar
                                                                months during the Performance Period through the Termination Date,
                                                                and the denominator of which is 36.

 

		(d)	Any Cash Units that are earned
                                                                pursuant to this Section 3 (after taking into account the Reduction,
                                                                if applicable) shall be referred to as the “Earned Units,”
                                                                provided, however, that if this number is less than
                                                                2, all Cash Units shall be forfeited upon a termination of employment
                                                                pursuant to these Sections. The adjustment pursuant to Sections
                                                                3(b) or 3(c) shall be referred to as the “Reduction.”

 

		(e)	For purposes of Sections 4(c),
                                                                4(d), 4(e) and 4(f), the Performance Targets shall be deemed attained
                                                                at actual performance for any completed Annual Performance Period
                                                                and 100% target performance for all other Annual Performance Periods.

 

	CORNING INCORPORATED - 2013 Form 10-K	1

    	 

    	

    

		4.	Service Based
 Vesting
                                                                                                                                            Requirement.
                                                                                                                                            Subject
                                                                                                                                            to
                                                                                                                                            the
                                                                                                                                            exceptions
                                                                                                                                            set
                                                                                                                                            forth
                                                                                                                                            below,
                                                                                                                                            the
                                                                                                                                            Employee
                                                                                                                                            must
                                                                                                                                            remain
                                                                                                                                            in
                                                                                                                                            continuous
                                                                                                                                            employment
                                                                                                                                            with
                                                                                                                                            the
                                                                                                                                            Company
                                                                                                                                            Group
                                                                                                                                            until
                                                                                                                                            the
                                                                                                                                            expiration
                                                                                                                                            of
                                                                                                                                            the
                                                                                                                                            Performance
                                                                                                                                            Period
                                                                                                                                            in
                                                                                                                                            order
                                                                                                                                            to
                                                                                                                                            vest
                                                                                                                                            in
                                                                                                                                            the
                                                                                                                                            Earned
                                                                                                                                            Units.
                                                                                                                                            If
                                                                                                                                            the
                                                                                                                                            Employee’s
                                                                                                                                            employment
                                                                                                                                            with
                                                                                                                                            the
                                                                                                                                            Company
                                                                                                                                            Group
                                                                                                                                            terminates
                                                                                                                                            on
                                                                                                                                            or
                                                                                                                                            before
                                                                                                                                            the
                                                                                                                                            expiration
                                                                                                                                            of
                                                                                                                                            the
                                                                                                                                            Performance
                                                                                                                                            Period,
                                                                                                                                            any
                                                                                                                                            Earned
                                                                                                                                            Units
                                                                                                                                            shall
                                                                                                                                            be
                                                                                                                                            treated
                                                                                                                                            in
                                                                                                                                            the
                                                                                                                                            manner
                                                                                                                                            set
                                                                                                                                            forth
                                                                                                                                            in
                                                                                                                                            this
                                                                                                                                            Section
                                                                                                                                            4.
                                                                                                                                            For
                                                                                                                                            purposes
                                                                                                                                            of
                                                                                                                                            this
                                                                                                                                            Agreement,
                                                                                                                                            “Termination
                                                                                                                                            Date”
                                                                                                                                            shall
                                                                                                                                            mean
                                                                                                                                            the
                                                                                                                                            last
                                                                                                                                            day
                                                                                                                                            on
                                                                                                                                            which
                                                                                                                                            the
                                                                                                                                            Employee
                                                                                                                                            provides
                                                                                                                                            services
                                                                                                                                            to
                                                                                                                                            the
                                                                                                                                            Company
                                                                                                                                            Group
                                                                                                                                            (notwithstanding
                                                                                                                                            any
                                                                                                                                            applicable
                                                                                                                                            severance
                                                                                                                                            periods).

 

	 	Event	 	Termination Occurs in 1st Annual
    Performance

    Period	 	Termination Occurs After
    1st Annual

    Performance Period	 	# of Earned Units
	(a)	Retirement at or After Age 55	 	Employee vests in 100% of the Earned Units

(after taking the Reduction into account)	 	Employee vests in 100% of the Earned Units	 	Refer to Section 3(b)
	(b)	Termination without Cause	 	Employee vests in 100% of the Earned Units

(after taking the Reduction into account)	 	Employee vests in 100% of the Earned Units (after taking the Reduction into account)	 	Refer to Section 3(c)
	(c)	Death, or	 	Employee vests in 100% of the Earned Units

(after taking the Reduction into account)	 	Employee vests in 100% of the Earned Units	 	Refer to Section 3(e)
	(d)	Disability, or	 	 	 	 	 	 
	(e) 	Reduction in Force, Divestiture or Discontinuance of Certain Company Group’s
    Operations, or	 	 	 	 	 	 
	(f)	Change of Control	 	 	 	 	 	 
	(g)	Voluntary Termination or Termination for Cause	 	Employee forfeits all of the Cash Units	 	Employee forfeits all of the Cash Units	 	None

 

		(h)	Definitions.

 

		(i)	For purposes of this Agreement,
                                                                  Cause shall mean the Employee’s:

 

		(A)	conviction of a felony or conviction
                                                                  of a misdemeanor involving moral turpitude (from which no further
                                                                  appeals have been or can be taken);

 

		(B)	material breach of the Company
                                                                  Group’s Code of Conduct;

 

		(C)	gross abdication of his duties
                                                                  as an employee of the Company Group, which conduct remains uncured
                                                                  by the Employee for a period of at least 30 days following written
                                                                  notice thereof to the Employee by the Company Group, in each
                                                                  case as determined in good faith by the Company; or

 

		(D)	misappropriation of the Company
                                                                  Group’s assets, personal dishonesty or business conduct
                                                                  which causes material or potentially material financial or reputational
                                                                  harm for the Company;

 

			provided,
                                                                                                                                               however,
                                                                                                                                               that
                                                                                                                                               no
                                                                                                                                               act
                                                                                                                                               or
                                                                                                                                               failure
                                                                                                                                               to
                                                                                                                                               act
                                                                                                                                               on
                                                                                                                                               the
                                                                                                                                               Employee’s
                                                                                                                                               part
                                                                                                                                               shall
                                                                                                                                               be
                                                                                                                                               deemed
                                                                                                                                               to
                                                                                                                                               be
                                                                                                                                               a
                                                                                                                                               termination
                                                                                                                                               for
                                                                                                                                               Cause
                                                                                                                                               if
                                                                                                                                               done,
                                                                                                                                               or
                                                                                                                                               omitted
                                                                                                                                               to
                                                                                                                                               be
                                                                                                                                               done,
                                                                                                                                               in
                                                                                                                                               good
                                                                                                                                               faith,
                                                                                                                                               and
                                                                                                                                               with
                                                                                                                                               the
                                                                                                                                               reasonable
                                                                                                                                               belief
                                                                                                                                               that
                                                                                                                                               the
                                                                                                                                               action
                                                                                                                                               or
                                                                                                                                               omission
                                                                                                                                               was
                                                                                                                                               in
                                                                                                                                               the
                                                                                                                                               best
                                                                                                                                               interests
                                                                                                                                               of
                                                                                                                                               the
                                                                                                                                               Company
                                                                                                                                               Group.

 

		(ii)	For purposes of this Agreement,
                                                                   Disability shall mean the Employee’s termination of employment
                                                                   with the Company Group as a result of a total and permanent
                                                                   disability as that term is defined in the long-term disability
                                                                   plan applicable to the Employee.

 

		(iii)	For purposes of this Agreement,
                                                                    the term “Change of Control” shall mean an event
                                                                    that is “a change in the ownership or effective control
                                                                    of the Company, or in the ownership of a substantial portion
                                                                    of the assets of the Company” within the meaning of
                                                                    Section 409A of the Internal Revenue Code of 1986, as amended
                                                                    and the regulations and guidance promulgated thereunder (the
                                                                    “Code”), and that also falls within one of the
                                                                    following circumstances:

 

		(A)	an offerer (other than the Company)
                                                                  purchases shares of the Company’s Common Stock pursuant
                                                                  to a tender or exchange offer for such shares;

 

		(B)	any person (as such term is
                                                                  used in Sections 13(d) and 14(d) (2) of the Securities Exchange
                                                                  Act of 1934) is or becomes the beneficial owner, directly or
                                                                  indirectly, of securities representing 50% or more of the combined
                                                                  voting power of the Company’s then outstanding securities;

 

		(C)	the membership the Company’s
                                                                  Board of Directors changes as the result of a contested election
                                                                  or elections, such that a majority of the individuals who are
                                                                  directors at any particular time were initially placed on the
                                                                  Board of Directors as a result of such a contested election
                                                                  or elections occurring within the previous two years; or

 

		(D)	the consummation of a merger
                                                                  in which the Company is not the surviving corporation, consolidation,
                                                                  sale or disposition of all or substantially all of the Company’s
                                                                  assets or a plan of partial or complete liquidation approved
                                                                  by the Company’s shareholders.

 

		5.	Time
                                                                                                                                                                                       of
                                                                                                                                                                                       Payment.

 

		(a)	Except as noted below, the Earned
                                                                Units that have vested pursuant to Sections 3 and 4 shall be paid
                                                                within 60 days following the expiration of the Performance Period.

 

		(b)	In the event of a termination
                                                                of employment due to Sections 4(c), 4(d) or 4(e), the Earned Units
                                                                that vest shall be paid within 60 days following the Termination Date.

 

		(c)	In the event of a Change of Control,
                                                                the Earned Units that vest in accordance with Section 4(f) shall
                                                                be paid within 30 days following the effective date of the Chagne
                                                                of Control.

 

		(d)	The applicable date on which Cash
                                                                Units are paid pursuant to this Section 5 is referred to as the
                                                                “Payment Date.” All Cash Units that have not
been earned and vested as of the Payment Date shall be forfeited.

 

		(e)	In the event that the Earned Units
                                                                become subject to Social Security and/or Medicare taxes prior
                                                                to the applicable Payment Date, the Company shall withhold a number
                                                                of Cash Units equal in value to (i) the applicable Federal Insurance
                                                                Contributions Act (“FICA”) tax imposed under Code
                                                                Sections 3101, 3121(a), and 3121(v)(2) on the Cash Units (the
                                                                “FICA Amount”) and (ii) the applicable federal, state,
                                                                local or foreign income taxes owedas a result of the withholding
                                                                of the Cash Units to pay the FICA Amount. Any subsequent payment
                                                                under this Agreement will be reduced by the amount withheld under
                                                                this Section 5(e).

 

	CORNING INCORPORATED - 2013 Form 10-K	2

    	 

    	

    

		6.	Form
                                                                                                                                                                                       of
                                                                                                                                                                                       Payment.

 

		(a)	Unless otherwise specified by
                                                                the Committee at the Payment Date pursuant to Section 6(b), Earned
                                                                Units shall be paid in cash.

 

		(b)	On or prior to the Payment Date,
                                                                the Committee may elect, to pay any Earned Units in shares of
                                                                the Company’s common stock, par value $0.50 per share (“Common
                                                                Stock”). If paid in Common Stock, the Company shall deliver
                                                                to the Employee a certificate or certificates, or at the election
                                                                of the Company make an appropriate book-entry, for the number
                                                                of whole shares of Common Stock equal in value to the number of
                                                                Earned Units that are vested as of the business day preceding
                                                                the Payment Date, with any resulting fractional shares being delivered
                                                                to the Employee in cash.

 

		(c)	The Employee shall have no further
                                                                rights with regard to the Cash Units once the cash or shares of
                                                                Common Stock have been delivered pursuant to this Section 5.

 

		(d)	All payments made pursuant to
                                                                this Agreement shall be reduced by the amount of all tax withholdings
                                                                and other permitted deductions. To the extent the Cash Units are
                                                                paid in shares of Common Stock, the Company may withhold shares
                                                                of Common Stock to satisfy any tax withholdings and permitted
                                                                deductions pursuant to Section 16(a) of the Plan.

 

		7.	Voting
                                                                                                                                                                                       and
                                                                                                                                                                                       Dividend
                                                                                                                                                                                       Rights.
                                                                                                                                                                                       The
                                                                                                                                                                                       Cash
                                                                                                                                                                                       Units
                                                                                                                                                                                       do
                                                                                                                                                                                       not
                                                                                                                                                                                       entitle
                                                                                                                                                                                       the
                                                                                                                                                                                       Employee
                                                                                                                                                                                       to
                                                                                                                                                                                       any
                                                                                                                                                                                       of
                                                                                                                                                                                       the
                                                                                                                                                                                       rights
                                                                                                                                                                                       of
                                                                                                                                                                                       a
                                                                                                                                                                                       shareholder
                                                                                                                                                                                       of
                                                                                                                                                                                       the
                                                                                                                                                                                       Company
                                                                                                                                                                                       (such
                                                                                                                                                                                       as
                                                                                                                                                                                       voting
                                                                                                                                                                                       or
                                                                                                                                                                                       dividend
                                                                                                                                                                                       rights).

 

		8.	Recoupment/Claw-back.
                                                                                                                                                                                       Notwithstanding
                                                                                                                                                                                       anything
                                                                                                                                                                                       in
                                                                                                                                                                                       this
                                                                                                                                                                                       Agreement
                                                                                                                                                                                       to
                                                                                                                                                                                       the
                                                                                                                                                                                       contrary,
                                                                                                                                                                                       the
                                                                                                                                                                                       Cash
                                                                                                                                                                                       Units
                                                                                                                                                                                       and
                                                                                                                                                                                       any
                                                                                                                                                                                       payments
                                                                                                                                                                                       pursuant
                                                                                                                                                                                       to
                                                                                                                                                                                       the
                                                                                                                                                                                       Cash
                                                                                                                                                                                       Units
                                                                                                                                                                                       shall
                                                                                                                                                                                       be
                                                                                                                                                                                       subject
                                                                                                                                                                                       to
                                                                                                                                                                                       claw-back
                                                                                                                                                                                       or
                                                                                                                                                                                       recoupment
                                                                                                                                                                                       as
                                                                                                                                                                                       mandated
                                                                                                                                                                                       by
                                                                                                                                                                                       applicable
                                                                                                                                                                                       law,
                                                                                                                                                                                       rules,
                                                                                                                                                                                       regulations
                                                                                                                                                                                       or
                                                                                                                                                                                       Company
                                                                                                                                                                                       policy
                                                                                                                                                                                       as
                                                                                                                                                                                       enacted,
                                                                                                                                                                                       adopted
                                                                                                                                                                                       or
                                                                                                                                                                                       modified
                                                                                                                                                                                       from
                                                                                                                                                                                       time
                                                                                                                                                                                       to
                                                                                                                                                                                       time.

 

		9.	Transfers.
                                                                                                                                                                                       If
                                                                                                                                                                                       the
                                                                                                                                                                                       Employee
                                                                                                                                                                                       is
                                                                                                                                                                                       transferred
                                                                                                                                                                                       from
                                                                                                                                                                                       the
                                                                                                                                                                                       Company
                                                                                                                                                                                       to
                                                                                                                                                                                       a
                                                                                                                                                                                       Subsidiary,
                                                                                                                                                                                       from
                                                                                                                                                                                       a
                                                                                                                                                                                       Subsidiary
                                                                                                                                                                                       to
                                                                                                                                                                                       the
                                                                                                                                                                                       Company
                                                                                                                                                                                       or
                                                                                                                                                                                       from
                                                                                                                                                                                       one
                                                                                                                                                                                       Subsidiary
                                                                                                                                                                                       to
                                                                                                                                                                                       another,
                                                                                                                                                                                       the
                                                                                                                                                                                       Employee’s
                                                                                                                                                                                       employment
                                                                                                                                                                                       with
                                                                                                                                                                                       the
                                                                                                                                                                                       Company
                                                                                                                                                                                       Group
                                                                                                                                                                                       shall
                                                                                                                                                                                       not
                                                                                                                                                                                       be
                                                                                                                                                                                       deemed
                                                                                                                                                                                       to
                                                                                                                                                                                       have
                                                                                                                                                                                       terminated;
                                                                                                                                                                                       provided,
                                                                                                                                                                                       however,
                                                                                                                                                                                       that
                                                                                                                                                                                       the
                                                                                                                                                                                       Subsidiary
                                                                                                                                                                                       is
                                                                                                                                                                                       owned
                                                                                                                                                                                       50%
                                                                                                                                                                                       or
                                                                                                                                                                                       greater
                                                                                                                                                                                       by
                                                                                                                                                                                       the
                                                                                                                                                                                       Company
                                                                                                                                                                                       Group.

 

		10.	Section
                                                                                                                                                                                        409A.

 

		(a)	The Cash Units are intended to
                                                                comply with or be exempt from Section 409A of the Code and shall
                                                                be administered and interpreted in accordance with that intent.
                                                                If any provision of the Plan or this Agreement would, in the reasonable
                                                                good faith judgment of the Committee, result or likely result
                                                                in the imposition on the Employee of a penalty tax under Section
                                                                409A, the Committee may modify the terms of the Plan or this Agreement,
                                                                without the consent of the Employee, in the manner that the Committee
                                                                may reasonably and in good faith determine to be necessary or
                                                                advisable to avoid the imposition of such penalty tax. This Section
                                                                10 does not create an obligation on the part of the Company to
                                                                modify the Plan or this Agreement and does not guarantee that
                                                                the Cash Units will not be subject to taxes, interest and penalties
                                                                under Section 409A.

 

		(b)	Notwithstanding
                                                                                                                                                                                           anything
                                                                                                                                                                                           to
                                                                                                                                                                                           the
                                                                                                                                                                                           contrary
                                                                                                                                                                                           in
                                                                                                                                                                                           the
                                                                                                                                                                                           Plan
                                                                                                                                                                                           or
                                                                                                                                                                                           this
                                                                                                                                                                                           Agreement,
                                                                                                                                                                                           to
                                                                                                                                                                                           the
                                                                                                                                                                                           extent
                                                                                                                                                                                           that
                                                                                                                                                                                           the
                                                                                                                                                                                           Cash
                                                                                                                                                                                           Units
                                                                                                                                                                                           constitute
                                                                                                                                                                                           deferred
                                                                                                                                                                                           compensation
                                                                                                                                                                                           for
                                                                                                                                                                                           purposes
                                                                                                                                                                                           of
                                                                                                                                                                                           Section
                                                                                                                                                                                           409A
                                                                                                                                                                                           and
                                                                                                                                                                                           the
                                                                                                                                                                                           Employee
                                                                                                                                                                                           is
                                                                                                                                                                                           a
                                                                                                                                                                                           “Specified
                                                                                                                                                                                           Employee”
                                                                                                                                                                                           (within
                                                                                                                                                                                           the
                                                                                                                                                                                           meaning
                                                                                                                                                                                           of
                                                                                                                                                                                           the
                                                                                                                                                                                           Committee’s
                                                                                                                                                                                           established
                                                                                                                                                                                           methodology
                                                                                                                                                                                           for
                                                                                                                                                                                           determining
                                                                                                                                                                                           “Specified
                                                                                                                                                                                           Employees”
                                                                                                                                                                                           for
                                                                                                                                                                                           purposes
                                                                                                                                                                                           of
                                                                                                                                                                                           Section
                                                                                                                                                                                           409A),
                                                                                                                                                                                           no
                                                                                                                                                                                           payment
                                                                                                                                                                                           or
                                                                                                                                                                                           distribution
                                                                                                                                                                                           of
                                                                                                                                                                                           any
                                                                                                                                                                                           amounts
                                                                                                                                                                                           with
                                                                                                                                                                                           respect
                                                                                                                                                                                           to
                                                                                                                                                                                           the
                                                                                                                                                                                           Cash
                                                                                                                                                                                           Units
                                                                                                                                                                                           that
                                                                                                                                                                                           are
                                                                                                                                                                                           subject
                                                                                                                                                                                           to
                                                                                                                                                                                           Section
                                                                                                                                                                                           409A
                                                                                                                                                                                           may
                                                                                                                                                                                           be
                                                                                                                                                                                           made
                                                                                                                                                                                           before
                                                                                                                                                                                           the 15th
                                                                                                                                                                                           day
                                                                                                                                                                                           of
                                                                                                                                                                                           the
                                                                                                                                                                                           seventh
                                                                                                                                                                                           month
                                                                                                                                                                                           following
                                                                                                                                                                                           the
                                                                                                                                                                                           Employee’s
                                                                                                                                                                                           “Separation
                                                                                                                                                                                           from
                                                                                                                                                                                           Service”
                                                                                                                                                                                           from
                                                                                                                                                                                           the
                                                                                                                                                                                           Company
                                                                                                                                                                                           (as
                                                                                                                                                                                           defined
                                                                                                                                                                                           in
                                                                                                                                                                                           Section
                                                                                                                                                                                           409A)
                                                                                                                                                                                           or,
                                                                                                                                                                                           if
                                                                                                                                                                                           earlier,
                                                                                                                                                                                           the
                                                                                                                                                                                           date
                                                                                                                                                                                           of
                                                                                                                                                                                           the
                                                                                                                                                                                           Employee’s
                                                                                                                                                                                           death.

 

		(c)	The actual date of payment pursuant
                                                                to Section 5 shall be within the sole discretion of the Company.
                                                                In no event may the Employee be permitted to control the year
                                                                in which settlement occurs.

 

		11.	Modification/Interpretation.
                                                                                                                                                                                        The
                                                                                                                                                                                        Committee
                                                                                                                                                                                        shall
                                                                                                                                                                                        have
                                                                                                                                                                                        the
                                                                                                                                                                                        power
                                                                                                                                                                                        to
                                                                                                                                                                                        alter,
                                                                                                                                                                                        amend,
                                                                                                                                                                                        modify
                                                                                                                                                                                        or
                                                                                                                                                                                        terminate
                                                                                                                                                                                        the
                                                                                                                                                                                        Plan
                                                                                                                                                                                        or
                                                                                                                                                                                        this
                                                                                                                                                                                        Agreement
                                                                                                                                                                                        at
                                                                                                                                                                                        any
                                                                                                                                                                                        time;
                                                                                                                                                                                        provided,
                                                                                                                                                                                        however,
                                                                                                                                                                                        that
                                                                                                                                                                                        no
                                                                                                                                                                                        such
                                                                                                                                                                                        termination,
                                                                                                                                                                                        amendment
                                                                                                                                                                                        or
                                                                                                                                                                                        modification
                                                                                                                                                                                        may
                                                                                                                                                                                        adversely
                                                                                                                                                                                        affect,
                                                                                                                                                                                        in
                                                                                                                                                                                        any
                                                                                                                                                                                        material
                                                                                                                                                                                        respect,
                                                                                                                                                                                        the
                                                                                                                                                                                        Employee’s
                                                                                                                                                                                        rights
                                                                                                                                                                                        under
                                                                                                                                                                                        this
                                                                                                                                                                                        Agreement
                                                                                                                                                                                        without
                                                                                                                                                                                        the
                                                                                                                                                                                        Employee’s
                                                                                                                                                                                        consent.
                                                                                                                                                                                        Notwithstanding
                                                                                                                                                                                        the
                                                                                                                                                                                        foregoing,
                                                                                                                                                                                        the
                                                                                                                                                                                        Company
                                                                                                                                                                                        shall
                                                                                                                                                                                        have
                                                                                                                                                                                        broad
                                                                                                                                                                                        authority
                                                                                                                                                                                        to
                                                                                                                                                                                        amend
                                                                                                                                                                                        this
                                                                                                                                                                                        Agreement
                                                                                                                                                                                        without
                                                                                                                                                                                        the
                                                                                                                                                                                        consent
                                                                                                                                                                                        of
                                                                                                                                                                                        the
                                                                                                                                                                                        Employee
                                                                                                                                                                                        to
                                                                                                                                                                                        the
                                                                                                                                                                                        extent
                                                                                                                                                                                        it
                                                                                                                                                                                        deems
                                                                                                                                                                                        necessary
                                                                                                                                                                                        or
                                                                                                                                                                                        desirable
                                                                                                                                                                                        (a)
                                                                                                                                                                                        to
                                                                                                                                                                                        comply
                                                                                                                                                                                        with
                                                                                                                                                                                        or
                                                                                                                                                                                        take
                                                                                                                                                                                        into
                                                                                                                                                                                        account
                                                                                                                                                                                        changes
                                                                                                                                                                                        in
                                                                                                                                                                                        or
                                                                                                                                                                                        interpretations
                                                                                                                                                                                        of,
                                                                                                                                                                                        applicable
                                                                                                                                                                                        tax
                                                                                                                                                                                        laws,
                                                                                                                                                                                        securities
                                                                                                                                                                                        laws,
                                                                                                                                                                                        employment
                                                                                                                                                                                        laws,
                                                                                                                                                                                        accounting
                                                                                                                                                                                        rules
                                                                                                                                                                                        and
                                                                                                                                                                                        other
                                                                                                                                                                                        applicable
                                                                                                                                                                                        laws,
                                                                                                                                                                                        rules
                                                                                                                                                                                        and
                                                                                                                                                                                        regulations,
                                                                                                                                                                                        (b)
                                                                                                                                                                                        to
                                                                                                                                                                                        take
                                                                                                                                                                                        into
                                                                                                                                                                                        account
                                                                                                                                                                                        unusual
                                                                                                                                                                                        or
                                                                                                                                                                                        nonrecurring
                                                                                                                                                                                        events
                                                                                                                                                                                        or
                                                                                                                                                                                        market
                                                                                                                                                                                        conditions,
                                                                                                                                                                                        or
                                                                                                                                                                                        (c)
                                                                                                                                                                                        to
                                                                                                                                                                                        take
                                                                                                                                                                                        into
                                                                                                                                                                                        account
                                                                                                                                                                                        significant
                                                                                                                                                                                        acquisitions
                                                                                                                                                                                        or
                                                                                                                                                                                        dispositions
                                                                                                                                                                                        of
                                                                                                                                                                                        assets
                                                                                                                                                                                        or
                                                                                                                                                                                        other
                                                                                                                                                                                        property
                                                                                                                                                                                        by
                                                                                                                                                                                        the
                                                                                                                                                                                        Company.
                                                                                                                                                                                        Any
                                                                                                                                                                                        amendment,
                                                                                                                                                                                        modification
                                                                                                                                                                                        or
                                                                                                                                                                                        termination
                                                                                                                                                                                        shall,
                                                                                                                                                                                        upon
                                                                                                                                                                                        adoption,
                                                                                                                                                                                        become
                                                                                                                                                                                        and
                                                                                                                                                                                        be
                                                                                                                                                                                        binding
                                                                                                                                                                                        on
                                                                                                                                                                                        all
                                                                                                                                                                                        persons
                                                                                                                                                                                        affected
                                                                                                                                                                                        thereby
                                                                                                                                                                                        without
                                                                                                                                                                                        requirement
                                                                                                                                                                                        for
                                                                                                                                                                                        consent
                                                                                                                                                                                        or
                                                                                                                                                                                        other
                                                                                                                                                                                        action
                                                                                                                                                                                        with
                                                                                                                                                                                        respect
                                                                                                                                                                                        thereto
                                                                                                                                                                                        by
                                                                                                                                                                                        any
                                                                                                                                                                                        such
                                                                                                                                                                                        person.
                                                                                                                                                                                        The
                                                                                                                                                                                        Committee
                                                                                                                                                                                        shall
                                                                                                                                                                                        give
                                                                                                                                                                                        written
                                                                                                                                                                                        notice
                                                                                                                                                                                        to
                                                                                                                                                                                        the
                                                                                                                                                                                        Employee
                                                                                                                                                                                        of
                                                                                                                                                                                        any
                                                                                                                                                                                        such
                                                                                                                                                                                        amendment,
                                                                                                                                                                                        modification
                                                                                                                                                                                        or
                                                                                                                                                                                        termination
                                                                                                                                                                                        as
                                                                                                                                                                                        promptly
                                                                                                                                                                                        as
                                                                                                                                                                                        practicable
                                                                                                                                                                                        after
                                                                                                                                                                                        the
                                                                                                                                                                                        adoption
                                                                                                                                                                                        thereof.
                                                                                                                                                                                        The
                                                                                                                                                                                        foregoing
                                                                                                                                                                                        shall
                                                                                                                                                                                        not
                                                                                                                                                                                        restrict
                                                                                                                                                                                        the
                                                                                                                                                                                        ability
                                                                                                                                                                                        of
                                                                                                                                                                                        the
                                                                                                                                                                                        Employee
                                                                                                                                                                                        and
                                                                                                                                                                                        the
                                                                                                                                                                                        Company
                                                                                                                                                                                        by
                                                                                                                                                                                        mutual
                                                                                                                                                                                        consent
                                                                                                                                                                                        to
                                                                                                                                                                                        alter
                                                                                                                                                                                        or
                                                                                                                                                                                        amend
                                                                                                                                                                                        the
                                                                                                                                                                                        terms
                                                                                                                                                                                        of
                                                                                                                                                                                        the
                                                                                                                                                                                        Cash
                                                                                                                                                                                        Units
                                                                                                                                                                                        in
                                                                                                                                                                                        any
                                                                                                                                                                                        manner
                                                                                                                                                                                        that
                                                                                                                                                                                        is
                                                                                                                                                                                        consistent
                                                                                                                                                                                        with
                                                                                                                                                                                        the
                                                                                                                                                                                        Plan
                                                                                                                                                                                        and
                                                                                                                                                                                        approved
                                                                                                                                                                                        by
                                                                                                                                                                                        the
                                                                                                                                                                                        Committee.

 

		12.	Headings.
                                                                                                                                                                                        The
                                                                                                                                                                                        headings
                                                                                                                                                                                        of
                                                                                                                                                                                        sections
                                                                                                                                                                                        and
                                                                                                                                                                                        subsections
                                                                                                                                                                                        are
                                                                                                                                                                                        included
                                                                                                                                                                                        solely
                                                                                                                                                                                        for
                                                                                                                                                                                        convenience
                                                                                                                                                                                        of
                                                                                                                                                                                        reference
                                                                                                                                                                                        and
                                                                                                                                                                                        shall
                                                                                                                                                                                        not
                                                                                                                                                                                        affect
                                                                                                                                                                                        the
                                                                                                                                                                                        meaning
                                                                                                                                                                                        of
                                                                                                                                                                                        the
                                                                                                                                                                                        provisions
                                                                                                                                                                                        of
                                                                                                                                                                                        this
                                                                                                                                                                                        Agreement.

 

		13.	Counterparts.
                                                                                                                                                                                        This
                                                                                                                                                                                        Agreement
                                                                                                                                                                                        may
                                                                                                                                                                                        be
                                                                                                                                                                                        executed
                                                                                                                                                                                        in
                                                                                                                                                                                        two
                                                                                                                                                                                        or
                                                                                                                                                                                        more
                                                                                                                                                                                        counterparts,
                                                                                                                                                                                        each
                                                                                                                                                                                        of
                                                                                                                                                                                        which
                                                                                                                                                                                        shall
                                                                                                                                                                                        be
                                                                                                                                                                                        deemed
                                                                                                                                                                                        to
                                                                                                                                                                                        be
                                                                                                                                                                                        an
                                                                                                                                                                                        original
                                                                                                                                                                                        but
                                                                                                                                                                                        all
                                                                                                                                                                                        of
                                                                                                                                                                                        which
                                                                                                                                                                                        together
                                                                                                                                                                                        will
                                                                                                                                                                                        constitute
                                                                                                                                                                                        one
                                                                                                                                                                                        and
                                                                                                                                                                                        the
                                                                                                                                                                                        same
                                                                                                                                                                                        instrument.

 

		14.	Entire
                                                                                                                                                                                        Agreement.
                                                                                                                                                                                        This
                                                                                                                                                                                        Agreement
                                                                                                                                                                                        and
                                                                                                                                                                                        the
                                                                                                                                                                                        Plan
                                                                                                                                                                                        constitute
                                                                                                                                                                                        the
                                                                                                                                                                                        entire
                                                                                                                                                                                        agreement
                                                                                                                                                                                        between
                                                                                                                                                                                        the
                                                                                                                                                                                        parties
                                                                                                                                                                                        hereto
                                                                                                                                                                                        with
                                                                                                                                                                                        regard
                                                                                                                                                                                        to
                                                                                                                                                                                        the
                                                                                                                                                                                        subject
                                                                                                                                                                                        matter
                                                                                                                                                                                        hereof.
                                                                                                                                                                                        They
                                                                                                                                                                                        supersede
                                                                                                                                                                                        all
                                                                                                                                                                                        other
                                                                                                                                                                                        agreements,
                                                                                                                                                                                        representations
                                                                                                                                                                                        or
                                                                                                                                                                                        understandings
                                                                                                                                                                                        (whether
                                                                                                                                                                                        oral
                                                                                                                                                                                        or
                                                                                                                                                                                        written
                                                                                                                                                                                        and
                                                                                                                                                                                        whether
                                                                                                                                                                                        express
                                                                                                                                                                                        or
                                                                                                                                                                                        implied)
                                                                                                                                                                                        that
                                                                                                                                                                                        relate
                                                                                                                                                                                        to
                                                                                                                                                                                        the
                                                                                                                                                                                        subject
                                                                                                                                                                                        matter
                                                                                                                                                                                        hereof.

 

		15.	Governing
                                                                                                                                                                                        Law.
                                                                                                                                                                                        Except
                                                                                                                                                                                        as
                                                                                                                                                                                        to
                                                                                                                                                                                        matters
                                                                                                                                                                                        of
                                                                                                                                                                                        federal
                                                                                                                                                                                        law,
                                                                                                                                                                                        this
                                                                                                                                                                                        Agreement
                                                                                                                                                                                        and
                                                                                                                                                                                        all
                                                                                                                                                                                        actions
                                                                                                                                                                                        taken
                                                                                                                                                                                        thereunder
                                                                                                                                                                                        shall
                                                                                                                                                                                        be
                                                                                                                                                                                        governed
                                                                                                                                                                                        by
                                                                                                                                                                                        and
                                                                                                                                                                                        construed
                                                                                                                                                                                        in
                                                                                                                                                                                        accordance
                                                                                                                                                                                        with
                                                                                                                                                                                        the
                                                                                                                                                                                        laws
                                                                                                                                                                                        of
                                                                                                                                                                                        the
                                                                                                                                                                                        State
                                                                                                                                                                                        of
                                                                                                                                                                                        New
                                                                                                                                                                                        York
                                                                                                                                                                                        (other
                                                                                                                                                                                        than
                                                                                                                                                                                        its
                                                                                                                                                                                        conflict
                                                                                                                                                                                        of
                                                                                                                                                                                        law
                                                                                                                                                                                        rules).

 

IN WITNESS WHEREOF, this Agreement has
been duly executed by the Company and the Employee.

 

	CORNING
    INCORPORATED	 	EMPLOYEE
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Title:	 	 	Title:	 
	Date:	 	 	Date:	 

 

	CORNING INCORPORATED - 2013 Form 10-K	3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}]]