Document:

EX-10.2

 Exhibit 10.2 
  

 NOTICE OF STOCK OPTION GRANT AND STOCK OPTION AGREEMENT 

PURSUANT TO THE 
 RUBICON
TECHNOLOGY, INC. 2016 STOCK INCENTIVE PLAN 
 You have been granted an option (the “Option”) to purchase Common Stock of Rubicon Technology,
Inc. (the “Company”), a Delaware corporation, on the terms and conditions set forth herein. Capitalized terms used without definition in this Notice of Stock Option Grant (the “Notice”) or in the Stock Option Agreement (the
“Option Agreement”) of which this Notice is a part, are used as defined in the Rubicon Technology, Inc. 2016 Stock Incentive Plan (the “Plan”) of the Company. 

 

			
	Name of Optionee:	  	  

		
	Date of Grant:	  	  

		
	Vesting Commencement Date:	  	  

		
	Type of Option:	  	 Non-qualified Stock Option

		
	Term:	  	 Ten (10) years from Date of Grant (subject to earlier termination as provided in the Plan)

 This Option is for              shares of Common Stock at an
exercise price per share of $             subject to adjustment pursuant to the Plan. 

Vesting Schedule: Subject to the other requirements hereof, this Option may be exercised only upon and after, and to the extent that, this Option has
vested. The portions of this Option listed below shall vest on each of the dates listed below, provided in each case that Optionee continues to be a Service Provider on such date: 

 

			
	 Percentage of Shares of

Optioned Stock Vesting
	  	 Date

		
	 [%]
	  	 [Anniversary of Vesting

Commencement Date]

 By your signature and the signature of the Company’s representative below, you and the Company agree that this Option is
granted under and governed by the terms and conditions of the Plan and the Option Agreement to which this Notice is attached. The Option Agreement is a part hereof. Optionee has reviewed the Plan, this Notice and the Option Agreement, and
has had an opportunity to obtain the advice of counsel prior to executing this Notice and Option Agreement. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions
relating to the Plan, this Notice and the Option Agreement. Optionee is a resident of the state listed below. 
  

							
	OPTIONEE	  				  	RUBICON TECHNOLOGY, INC.
			
		  	 	By	  	  	
	  

  Signature
                                         
                         Date
	  	  	  
  

			
	  

  Printed Name
	  				  	  
   Printed
Name

			
	  

  State of Residence
	  				  	  
   Title

 STOCK OPTION AGREEMENT 

PURSUANT TO THE 
 RUBICON
TECHNOLOGY, INC. 2016 STOCK INCENTIVE PLAN 
  
  

1. Grant of Option. 
 (a) The Committee
of the Company hereby grants to the optionee (the “Optionee”) named in the Notice of Stock Option Grant (the “Notice”) to which this Stock Option Agreement (the “Option Agreement”) is attached an option (the
“Option”) to purchase the number of shares, as set forth in such Notice, at the exercise price per share set forth in the Notice (the “Exercise Price”), subject to the terms and conditions of the Rubicon Technology, Inc. 2016
Stock Incentive Plan (the “Plan”), which is incorporated herein by reference. Subject to provisions of the Plan stating otherwise, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of
this Option Agreement, the terms and conditions of the Plan shall prevail. Unless otherwise defined herein, all capitalized terms used in this Option Agreement shall be defined as provided in the Plan. 

(b) This Option is not intended to qualify as an Incentive Stock Option under Code Section 422 unless it is so designated in the Notice as an
Incentive Stock Option. However, if this Option is designated to be an Incentive Stock Option, to the extent that it exceeds the limit set forth in Code Section 422(d), it shall be treated as a Non-qualified Stock Option. 

2. Exercise of Option. 
 (a) Right to
Exercise. Subject to Sections 2(c), 2(d), and 2(e) below, this Option is exercisable during its term in accordance with the Vesting Schedule set out in the Notice and the applicable provisions of the Plan, this Option Agreement. 

(b) Method of Exercise. The Option is exercisable by delivery of an exercise notice, in the form attached as Exhibit A (the
“Exercise Notice”), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be
required by the Company pursuant to the provisions of the Plan. The Exercise Notice shall be completed by the Optionee, or personal representative of the Optionee as provided in the Plan, and delivered to an officer of the Company. The
Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares. The Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such
aggregate Exercise Price. 
 (c) Compliance with Law. No Shares shall be issued pursuant to the exercise of this Option unless
such issuance and exercise complies with Applicable Laws, the Plan and this Option Agreement. Assuming such compliance, for income tax purposes the Exercised Shares shall be considered transferred to the Optionee on the date the Option is
exercised with respect to such Exercised Shares. 
 (d) Merger, Reorganization or Sale. In the event of any merger, consolidation, or
similar reorganization of the Company described in Article 15 of the Plan, if the Option is not assumed or an equivalent option or right is not substituted by the successor corporation or a Parent or Subsidiary of the successor corporation, then the
Optionee shall fully vest in and have the right to exercise the Option as to all of the Optioned Stock, including Shares as to which it would not otherwise be vested or exercisable, in accordance with Article 15 of the Plan. For the purposes of
this Section 2(d), the determination of whether the Option has been assumed or substituted shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. 

(e) Death or Disability. Upon the death or Disability of the Optionee, all Shares subject to the Option shall immediately vest,
and the Option shall become immediately exercisable with respect to all Shares subject to the Option in accordance with this Option Agreement and the Plan. 

3. Method of Payment. 
 Payment of the
aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of the Optionee: 
 (a) cash; or 

(b) certified check; or 

  

					
	  
 RUBICON
TECHNOLOGY, INC.
	  	  
 -1-
	  	  
 STOCK
OPTION AGREEMENT

 (c) such other consideration as permitted pursuant to Section 6.6 of the Plan. 

4. Non-Transferability of Option. 
 This
Option may not be transferred in any manner otherwise than by the will or by the laws of descent or distribution and may be exercised during the lifetime of the Optionee only by the Optionee. The terms of the Plan and this Option Agreement
shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee. 
 5. Term of Option. 

This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance
with the Plan and the terms of this Option Agreement. In no event shall this Option be exercisable beyond the earliest to occur of (i) the end of the term set out in the Notice of Grant; (ii) the first anniversary of the date of the termination of
the Optionee’s relationship as a Service Provider due to Disability; (iii) the date which is six (6) months after the date of the termination of the Optionee’s relationship as a Service Provider due to death; (iii) the date of the
termination of the Optionee’s relationship as a Service Provider for Cause; or (iv) the date which is three (3) months after the date of the termination of the Optionee’s relationship as a Service Provider for any reason other than as set
forth in subsections (ii), (iii) or (iv) above. 
 6. Cancellation of Awards. The Committee may cancel, rescind, suspend, withhold, or otherwise
limit or restrict any unexercised, unvested, or unpaid Option at any time if the Optionee is not in compliance with all applicable provisions of the Option Agreement and the Plan, or if the Optionee has engaged in any Adverse Conduct.

(a) Certification of Compliance May Be Required. Upon exercise, payment or delivery pursuant to this Option, the Committee may require
the Optionee to certify, in a manner acceptable to the Company, that the Optionee is in compliance with the terms and conditions of the Plan. 

(b) Rescission of Awards. For a period of two (2) years following the exercise, payment or delivery of this Option (the
“Rescission Period”), the Committee may rescind any such exercise, payment, or delivery of the Option upon its determination that the Optionee has engaged in Adverse Conduct prior to the delivery of the Option or during the Rescission
Period. In the event of any such rescission, the Optionee shall pay to the Company the amount of any gain realized or payment received as a result of the rescinded exercise, payment or delivery, in such manner and on such terms and conditions
as may be required. 
 (c) Clawback. In addition to the foregoing, the Option shall be subject to any recoupment or clawback policy
that is adopted by, or applicable to, the Company. 
 7. Restrictions on Transfer. 

(a) Securities Law Restrictions. Regardless of whether the offering and sale of Shares under the Plan have been registered under the
Securities Act or have been registered or qualified under the securities laws of any state, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of such Shares (including the placement of appropriate legends
on stock certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the Securities Act, the securities laws of any state or any
other law. 
 (b) Certificates; Securities Legend. The Company may issue any Shares issuable to the Optionee upon exercise of the
Option in uncertificated form, evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company. The Company may issue appropriate instructions to any duly authorized transfer agent of the Company
regarding any restrictions on the transfer of such Shares. Any certificates evidencing Shares purchased under this Option Agreement may bear any restrictive legends as are required or deemed advisable by the Company or its counsel. If, in the
opinion of the Company and its counsel, any legend placed on a stock certificate representing Shares sold under this Option Agreement is no longer required, the holder of such certificate shall be entitled to exchange such certificate for a
certificate representing the same number of Shares but without such legend. 
 (c) Administration. Any determination by the Company
and its counsel in connection with any of the matters set forth in this Section 7 shall be conclusive and binding on the Optionee and all other persons. 

  

					
	  
 RUBICON
TECHNOLOGY, INC.
	  	  
 -2-
	  	  
 STOCK
OPTION AGREEMENT

 8. Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this
Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Optionee with respect to the subject matter hereof,
and may not be modified adversely to the Optionee’s interest except by means of a writing signed by the Company and Optionee. This Option Agreement is governed by the internal substantive laws, but not the choice of law rules, of the State
of Illinois. 
 9. NO PROMISE OR GUARANTEE OF CONTINUED SERVICE. THE OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE OPTION PURSUANT TO THE
VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY OR PURSUANT TO ANY WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE OPTIONEE (AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION OR
PURCHASING SHARES HEREUNDER). THE OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS OPTION AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF
CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE THE OPTIONEE’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY
TIME, WITH OR WITHOUT CAUSE. 
 10. Withholding of Taxes. No Shares will be delivered upon exercise of the Option until the Optionee (or the
Optionee’s beneficiary) has paid to the Company the minimum statutory amount of the taxes required to be withheld (or such larger amount of taxes that may be permitted to be withheld without resulting in the classification of the Option as a
liability award for accounting purposes) under federal, state and local income and employment tax laws (the “Applicable Withholding Taxes”). Optionee shall pay the Applicable Withholding Taxes by check; provided, however, that the
Optionee may irrevocably elect, on or before the date of exercise, to pay the Applicable Withholding Taxes by instructing the Company to retain the number of Shares otherwise deliverable upon exercise of the Option (valued at their Fair Market Value
on the date of exercise) required to satisfy the Applicable Withholding Taxes, or through any other means that the Committee, in its sole discretion, may permit.

  

					
	  
 RUBICON
TECHNOLOGY, INC.
	  	  
 -3-
	  	  
 STOCK
OPTION AGREEMENT

 EXHIBIT A 

RUBICON TECHNOLOGY, INC. 2016 STOCK INCENTIVE PLAN 

EXERCISE NOTICE 
 Rubicon
Technology, Inc. 
 900 East Green Street 
 Bensenville,
Illinois 60106 
 Attention: Secretary 
 1. Exercise of
Option. Effective as of today,                     , 20    , the undersigned (“Purchaser”) hereby elects to
purchase                  shares (the “Shares”) of the Common Stock of Rubicon Technology, Inc. (the “Company”) under and pursuant to the Rubicon
Technology, Inc. 2016 Stock Incentive Plan, as amended and restated (the “Plan”) and the Stock Option Agreement dated,
                    , 20     (the “Option Agreement”). The purchase price for the Shares shall be
$         per Share, as required by the Option Agreement. 
 2. Deliveries. Purchaser herewith delivers to
the Company the full purchase price for the Shares and the full amount of the Applicable Withholding Taxes (as defined in the Option Agreement). 
 3.
Representations of Purchaser. Purchaser acknowledges that Purchaser has received, read and understood the Plan and the Option Agreement and agrees to abide by and be bound by their terms and conditions. 

4. Rights as Stockholder. Until the issuance of the Shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Shares so acquired shall be issued to the
Purchaser as soon as practicable after exercise of the Option. No adjustment will be made for a dividend or other right for which the record date is prior to the date of issuance, except as provided in Section 13 of the Plan. 

5. Tax Consultation. Purchaser represents that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection with the
purchase or disposition of the Shares and that Purchaser is not relying on the Company or any accountant, attorney or other agent of the Company for any tax advice. 
  

							
		  				  	Accepted by:
			
	PURCHASER	  				  	RUBICON TECHNOLOGY, INC.
			
	  

  Signature
	  				  	  
   By

			
	  

  Printed Name
	  				  	  
   Name

			
	  

  Address
	  				  	  
   Title

			
	  

  Address
	  				  	  
   Date
Received

  

					
	  
 RUBICON
TECHNOLOGY, INC.
	  	  
 Exhibit A

Exercise Notice
	  	  
 STOCK
OPTION AGREEMENTEX-10.3

 Exhibit 10.3 

NON-EMPLOYEE DIRECTOR RESTRICTED STOCK AGREEMENT 

PURSUANT TO THE 
 RUBICON
TECHNOLOGY, INC. 2016 STOCK INCENTIVE PLAN 
 Number of Shares of Stock Subject to this Award (the “Restricted Stock”):
             
 THIS AGREEMENT (the “Agreement”), effective as of
            , is entered into by and between Rubicon Technology, Inc., a Delaware corporation (the “Company”) and
             (the “Recipient”). 
 WHEREAS, the Recipient serves as a
director of the Company and may serve as a member of one or more of the committees established by the Company’s Board of Directors (the “Board”); and 

WHEREAS, the Company desires to grant the Recipient restricted shares of $0.001 par value Common Stock of Company on the terms and conditions
contained in this Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements herein
contained and other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  

	 	1.	Definitions 

 All capitalized terms used herein shall have the meanings set forth
in this Section, unless expressly provided otherwise herein. 
 (a) “Code” shall mean the Internal Revenue Code of
1986, as amended. 
 (b) “Committee Member” shall mean the Recipient’s status as a member, including as the
Chair, of a committee established by the Board and for which the Recipient has received Restricted Stock. 
 (c)
“Compensation Committee” shall mean the Compensation Committee of the Company or, if none, the Board. 
 (d)
“Date of Grant” shall mean the effective date of this Restricted Stock Agreement as set forth above. 
 (e)
“Director” shall mean a member of the Board. 
 (f) “Disability” shall mean any medically determinable
physical or mental impairment that, in the opinion of the Company, based upon medical reports and other evidence satisfactory to the Company, can reasonably be expected to prevent the Recipient from performing substantially all of his or her
customary duties as a Director for a continuous period of not less than twelve (12) months. 

  
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 (g) “Plan” shall mean the Rubicon Technology, Inc. 2016 Stock Incentive
Plan as amended, modified or restated from time to time; provided that no amendment, modification or restatement shall adversely change or affect the Recipient’s rights hereunder. 

(h) “Stock” shall mean the $0.001 par value Common Stock of the Company or, in the event that the Company becomes a
wholly-owned subsidiary of another corporation, the common stock of that entity. 
  

	 	2.	Grant of Restricted Stock 

 The Company hereby awards to the Recipient the
Restricted Stock on the terms and conditions set forth herein and subject to the terms of the Plan. In the event of any inconsistency between this Agreement and the Plan, the terms of this Agreement shall control.

 

	 	3.	Restrictions on Transfer 

 Until vested pursuant to Section 4 of this
Agreement:
 (a) Prior to vesting, the Restricted Stock may not be transferred, assigned, pledged or hypothecated in any way
and will not be subject to execution, attachment or similar process, except by will or under the laws of descent and distribution or pursuant to a domestic relations order issued by a court of competent jurisdiction and, in any event, will be
subject to this Agreement. 
 (b) The Restricted Stock will be canceled immediately upon any attempted transfer, assignment,
pledge or hypothecation of this Restricted Stock in violation of this Section 3, and any attempted transfer, assignment, pledge or hypothecation of any Restricted Stock in violation of this Section 3 will be void without further action by the
Company and have no effect. 
  

	 	4.	Vesting of Restricted Stock 

 (a) The Restricted Stock may be
transferred, assigned, pledged or hypothecated only upon and after vesting. Except as provided in this Section 4, provided the Recipient has served continuously as a Director or a Committee Member of a particular committee, as the case may be,
through the respective vesting period, the Restricted Stock attributable to the Recipient’s service as a Director or as a Committee Member of the particular committee (as shown on the Company’s books and records, which shall be conclusive
and binding), shall vest according to the following schedule (rounded in each case to the number of full shares): 
 25% of
the Restricted Stock will vest on                      

  
 -2- 

 25% of the Restricted Stock will vest on
                     

25% of the Restricted Stock will vest on
                     

The remainder of the Restricted Stock will vest on
                     

Except as provided below, (i) no portion of the Restricted Stock shall vest after the date the Recipient ceases to be a
Director for any reason and any unvested portion of the Restricted Stock theretofore held by the Recipient shall be canceled as of that date, and (ii) no portion of the Restricted Stock attributable to the Recipient’s service as a Committee
Member of a particular committee (as shown on the Company’s books and records, which shall be conclusive and binding) shall vest after the date the Recipient ceases to be a Committee Member of such committee for any reason and any unvested
portion of the Restricted Stock attributable to such committee service theretofore held by the Recipient shall be canceled as of that date. Notwithstanding the foregoing, if the Recipient dies or suffers a Disability during the vesting period
described in this Section 4, and the Recipient was a Director or a Committee Member at the time of such death or Disability, the unvested portion of the Restricted Stock shall automatically vest on the date of death or Disability. 

By way of example, if the Recipient has received 200 shares of Restricted Stock because of his service as a Director and 100
shares of Restricted Stock because of his role as a member of the Audit Committee (for a total of 300 shares), and the Recipient resigns from the Audit Committee on April 30 but continues to serve as a Director, as of April 30: 75 shares of the
Restricted Stock will be vested, 150 shares of Restricted Stock remain outstanding and unvested (attributable to his service as a Director), and 75 shares of Restricted Stock will be forfeited (formerly attributable to his service as a Committee
Member). 
 (b) The Compensation Committee may, in the event of a sale, merger, consolidation, reorganization, liquidation or
change of control of the Company, as described in Article 15 of the Plan, provide for the acceleration of vesting and for settlement, including cash payment, of the Restricted Stock upon or immediately before the effectiveness of such event, in
accordance with Article 15 of the Plan. 
 (c) After being vested, shares of Restricted Stock shall no longer be considered
Restricted Stock and shall be released automatically from the terms of this Agreement, except those contained in Sections 9, 10, 11, 13, 14, 15, 16 and 17 hereof. 
  

	 	5.	Securities Law Restrictions; Certificates; Stock Power. 

 The Company shall not be
obligated to issue the Restricted Stock until, in the opinion of the Company and its counsel, such transfer and issuance of the Restricted Stock will not involve any violation of applicable federal and state securities laws, the rules and
regulations promulgated thereunder, and the requirements of the stock exchange upon which the Stock is listed. The Company may issue the Restricted Shares in uncertificated form. Such uncertificated shares shall be credited to a book entry
account maintained by the Company (or its transfer agent) on behalf of the Recipient. As a condition of accepting this award, the Recipient hereby irrevocably appoints the Company as the Participant’s attorney-in-fact, with full power of
substitution, to transfer (or provide instructions to the Company’s transfer agent to transfer) such shares on the Company’s books. The Company shall have the right to retain custody of any share certificates for the Restricted Stock that
may be issued until such shares vest or are forfeited. If share certificates are issued, the Recipient shall execute and deliver a stock power, endorsed in blank, to the Company, with respect to such shares. Certificates may, if the Committee so
determines, bear a legend referring to the restrictions and the instruments to which such shares of Restricted Stock are subject. 

  
 -3- 

	 	6.	Stockholder Rights 

 The Recipient shall have all of the rights of a stockholder,
including the right to vote the shares of Restricted Stock and the right to receive cash dividends, with respect to the shares of Restricted Stock unless and until any unvested shares of the Restricted Stock theretofore held by the Recipient are
forfeited or canceled pursuant Section 3(b) or 4 of this Agreement, in which case the Recipient shall have no rights of a stockholder with respect to such forfeited or canceled shares. 

 

	 	7.	Dilution 

 The number of shares subject to this Agreement shall be adjusted as
follows: (i) in the event that the number of shares of outstanding Stock is changed by reason of a stock dividend, stock split, recapitalization or combination of shares, the number of shares of Restricted Stock shall be proportionately adjusted; or
(ii) in the event of any merger, consolidation or reorganization of the Company with any other corporation or corporations pursuant to which the holders of shares of Stock surrender shares of Stock in exchange for other shares of stock or
securities, there shall be substituted for each share of Stock then subject to this Agreement, the number and kind of shares of stock or other securities which the holders of shares of Stock are entitled to receive for each share of Stock
surrendered pursuant to the transaction shall be proportionately adjusted. Otherwise, the Recipient acknowledges that, upon the issuance of shares to any person or entity, the Recipient will suffer a corresponding dilution of the Recipient’s
interest in the Company. 
  

	 	8.	Continued Service Not Presumed 

 Nothing in this Agreement shall give the
Recipient the right to continue as a Director or as a Committee Member or affect any right of the Company or the Board to terminate the Recipient as a Director or as a Committee Member, with or without cause, at any time. 

 

	 	9.	Personal Data 

 In order to grant the Restricted Stock to the Recipient, the
Company may have had to and may continue to process the Recipient’s personal data that it currently has on record and/or data it may obtain from the Recipient in the future. Such transfer of personal data may be to outside service providers
(such as brokers). The Recipient’s personal data will be treated as private and confidential and will only be used to the extent necessary in relation to the Restricted Stock and to comply with any applicable legal, regulatory, tax or
accounting requirements. 

  
 -4- 

 By signing this Agreement, the Recipient acknowledges receipt of this notification and consents
to the processing and transfer of his/her personal data as described above. 
  

	 	10.	Notices 

 All notices by one party to the other under this Agreement shall be in
writing. Any notice under this Agreement to the Company shall be addressed to the Company at 900 East Green St., Unit A, Bensenville, Illinois 60106, to the attention of the Chief Financial Officer, and any notice to the Recipient shall be addressed
to the Recipient at the address listed beneath the Recipient’s signature hereto. If mailed by United States mail, properly addressed and proper postage prepaid or if sent by recognized overnight courier service, notice shall be effective on the
date of mailing or delivery to such courier. If served personally, notice shall be effective as of the date of delivery to the address of the party to whom the notice is addressed. If the effective date as provided above is not a business day, the
effective date shall be the next regular business day. Either party may at any time notify the other in writing of a new address for service of notice upon that party. 
  

	 	11.	Severability 

 If any provision of this Agreement for any reason should be found
by any arbitrator or court of competent jurisdiction to be invalid, illegal or unenforceable, in whole or in part, such declaration shall not affect the validity, legality, or enforceability of any remaining provision or portion hereof, which
remaining provision or portion shall remain in full force and effect as if this Agreement had been adopted with the invalid, illegal or unenforceable provision or portion eliminated. 

 

	 	12.	Headings 

 The headings and captions utilized in this Agreement shall not be
construed to limit or modify the terms or meaning of this Agreement. 
  

	 	13.	Agreed Forum 

 All acts required to be performed by the Recipient hereunder shall
be deemed to be performed in Chicago, Cook County, Illinois, and the Recipient hereby submits to the jurisdiction of any state or Federal court located in Chicago, Illinois and waives any and all objections to the jurisdiction of such courts and the
venue of any action brought therein. 
  

	 	14.	Arbitration 

 At the election of the Company, any dispute arising under this
Agreement will be settled by final and binding arbitration conducted in accordance with and subject to the Commercial Arbitration Rules of the American Arbitration Association. To the extent permitted or required by law, judgment upon the decision
rendered in any such arbitration may be entered in any court having jurisdiction thereof, or application may be made to such court for a judicial acceptance of the decision and enforcement thereof. 

  
 -5- 

	 	15.	Equitable Relief 

 The Company shall be entitled to enforce the terms and
provisions of this Agreement by an action for injunction or specific performance or an action for damages or all of them, or may be made the subject of the arbitration proceedings described in the preceding section. 

 

	 	16.	Applicable State Law 

 This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of Illinois. 
  

	 	17.	Successors and Assigns 

 Subject to the limitations of the transferability of this
Restricted Stock, this Agreement shall be binding upon and inure to the benefit of the heirs, legal representatives, successors and assigns of the parties hereto. 

[SIGNATURE PAGE FOLLOWS] 

  
 -6- 

 IN WITNESS WHEREOF, the parties hereto have executed this Non-Employee Director Restricted Stock
Agreement as of the day and year first above written. 
  

					
	 RECIPIENT:
	 		 	 THE COMPANY:

Rubicon Technology, Inc.

			
	  
	 		 	By:                                     
                                         
          
	Name:	 		 	      Name:
	Address:	 		 	      Title:

  
 -7-

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