Document:

Exhibit

Exhibit 10.2

2019 Awards

FORM OF TIME-VESTED RESTRICTED STOCK UNIT AGREEMENT
PURSUANT TO THE
ALLEGHENY TECHNOLOGIES INCORPORATED 2017 INCENTIVE PLAN
This Time-Vested Restricted Stock Unit Agreement (“Agreement”) is made as of the 27th day of February, 2019 (the “Grant Date”) by and between ALLEGHENY TECHNOLOGIES INCORPORATED, a Delaware company (the “Company”), and «First_Name» «Middle_Initial» «Last_Name» (the “Participant”).  
WHEREAS, the Company sponsors and maintains the Allegheny Technologies Incorporated 2017 Incentive Plan (the “Incentive Plan”);
WHEREAS, the Company desires to encourage the Participant to remain an employee of the Company and, during such employment, to contribute substantially to the financial performance of the Company;
WHEREAS, to provide that incentive, the Company awarded the Participant the number of restricted stock units (singular “RSU” and plural “RSUs”) shown below, related to the common stock of the Company, $0.10 par value per share (“Common Stock”), subject to the terms and conditions of this Agreement, including the restrictive covenants, set forth herein; 
WHEREAS, the RSUs are subject to the Participant’s ongoing employment by the Company on each applicable vesting date, except as otherwise provided herein; 
WHEREAS, the Company and the Participant desire to evidence the award of the RSUs, and the terms and conditions applicable thereto, in this Agreement; and 
WHEREAS, capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Incentive Plan.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, including the Restrictive Covenants set forth in Section 10 of this Agreement, and intending to be legally bound, the Company and the Participant agree as follows:
1.Grant of RSUs.  The Company hereby grants to the Participant «Actual_RSU_Shares_Awarded_ » RSUs (subject to adjustment as provided in Section 3(d) of the Incentive Plan) as of the Grant Date.  Each RSU represents the right to receive one share of Common Stock, subject to the terms and conditions set forth in this Agreement and the Incentive Plan.

2.Service Criteria.  The RSUs shall vest in accordance with the following schedule, subject to the Participant’s continued employment through the applicable vesting date (each such date, a “Vesting Date”): 
	
		
	Vesting Date
	Percent of Total Award Vested

	February 27, 2020
	33 1/3%

	February 27, 2021
	66 2/3%

	February 27, 2022
	100%

3.Termination of Service Prior to the Vesting Date.  Except as otherwise provided in this Section 3, if, prior to the applicable Vesting Date for one or more installments of the RSUs, the Participant experiences a Termination of Service, whether initiated by either party and for any reason, all rights of the Participant to the RSUs that have not vested prior to the date of Termination of Service shall terminate immediately and be forfeited in their entirety without compensation to the Participant, and the forfeited RSUs shall be canceled.

(a)Termination of Service Due to Death or Disability .  If the Participant experiences a Termination of Service due to the Participant’s death or Disability (whether prior to or following a Change in Control), then all rights of the Participant to the RSUs that have not vested on or prior to the date of Termination of Service shall become immediately vested as of the date of such Termination of Service, and the Shares with respect thereto shall be delivered as soon as reasonably practicable (and in no event later than thirty (30) days) following the date of such Termination of Service, in the case of a Participant’s Termination due to Disability, subject to any required delay under Section 11 below and provide that prior to the delivery date, the Participant does not breach any of the restrictive covenants set forth herein.

(b)Termination of Service Due to Retirement Prior to a Change in Control.  If, prior to a Change in Control, the Participant experiences a Termination of Service due to the Participant’s Retirement (as defined in Appendix A), then if the effective date of such Retirement is (i) prior to the first anniversary of the Grant Date, all rights of the Participant to the RSUs shall terminate immediately and be forfeited in their entirety, without compensation to the Participant, and the forfeited RSUs shall be cancelled, or (ii) on or following the first anniversary of the Grant Date, a pro rata portion of the RSUs scheduled to vest following the date of such Termination of Service, determined by multiplying the total number of such unvested RSUs by a fraction, the numerator of which is equal to the number of months the Participant was employed by the Company following the Vesting Date immediately preceding the date of such Termination of Service (including any month during which the Participant remained employed by the Company for at least fifteen (15) days) and the denominator of which is equal to the number of months between the most recent Vesting Date immediately preceding the date of such Termination of Service and the third anniversary of the Grant Date, shall become immediately vested as of the date of such Termination of Service, and the Shares with respect thereto shall be delivered as soon as reasonably practicable (and in no event later than thirty (30) days) following the date of such Termination of Service, subject to any required delay under Section 11 below and provided that prior to the delivery date, the Participant does not breach any of the restrictive covenants set forth herein.

(c)Certain Terminations Following a Change in Control.  If a Participant incurs a Termination of Service (i) at any time after a Change in Control, due to the Participant’s Retirement (without regard to the one year service requirement that applies upon a Retirement prior to a Change in Control, or (ii) during the two (2)-year period immediately following a Change in Control, due to a termination by the Company without Cause [or a resignation by the Participant for Good Reason (as defined in Appendix A hereto),]1  any Replacement Award (as defined in Section 6 below) granted in respect of the RSUs (for the avoidance of doubt, without proration on Retirement) shall vest in full immediately upon the date of Termination of Service, and the Shares with respect thereto shall be delivered as soon as reasonably practicable (and in no event later than thirty (30) days) following the date of such Termination of Service, subject to any required delay under Section 11 below.

                                     
1 Applicable to executives who are party to a Change in Control Severance Agreement 

4.Settlement of the Vested RSUs.  

(a)General.  Vested RSUs shall be settled by the issuance of Shares as soon as reasonably practicable (and in no event later than thirty (30) days) following the originally scheduled Vesting Date, except as otherwise provided in Section 3 hereof and provided that nothing herein shall preclude the Company from settling the RSUs upon a Section 409A CIC, if they are not replaced by a Replacement Award, to the extent such settlement is effectuated in accordance with Treas. Regs. § 1.409A-3(j)(4)(ix)(B).  
 
(b)Method of Delivery.  In settlement of the vested RSUs, the Company shall deliver, or cause to be delivered to the Participant, Shares in the form of a certificate or proof of ownership in an aggregate amount equal to the number of Shares deliverable to the Participant in respect of the RSUs vesting on such date, unless the Company is using book- entry, in which case, the Company shall credit such Shares to the Participant’s account.  In any case, such Shares shall not be subject to transfer restrictions and shall not bear any legend or electronic notation limiting transferability.  Upon payment or crediting of such Shares, the vested RSUs shall be deemed fully settled and the Participant shall have no further rights in respect of such RSUs.  No fractional Share shall be issued and any fractional vested RSU shall be rounded down to the nearest whole number, other than following a Change in Control, in which case the rules applicable to fractional Shares under the transaction agreement shall govern.  

5.Rights as a Stockholder.  Until the issuance of the Shares subject to the RSUs (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 holder of Common Stock shall exist with respect to the RSUs. 

6.Change in Control.  If a Change in Control occurs prior to any Vesting Date, the RSUs (if and to the extent not previously forfeited) shall vest effective as of such Change in Control, except to the extent that another award meeting the requirements of Section 11(c) of the Incentive Plan (as determined by the Committee as of immediately prior to the Change in Control, in its sole discretion) is provided to the Participant to replace the RSUs (any award meeting the requirements of Section 11(c) of the Incentive Plan, a “Replacement Award”).  If Replacement Awards are provided, from and after the Change in Control, references herein to the RSUs shall refer to the Replacement Awards, and references to the Company include any surviving successor entity following the Change in Control, in each case unless the context clearly indicates otherwise.

7.Withholding.  No later than the date as of which an amount first becomes includible in the gross income of the Participant or subject to any applicable tax for federal income tax purposes with respect to any RSUs, the Participant shall pay to the Company, or make arrangements satisfactory to the Company regarding the payment of, all federal, state and local income and employment taxes that are required by applicable laws and regulations to be withheld with respect to such amount.  The Participant may direct the Company to deduct any such taxes from any payment otherwise due to the Participant, including the delivery of Shares that gives rise to the withholding requirement.  The Company’s obligation to deliver the Shares underlying the RSUs (or to make a book-entry or other electronic notation indicating ownership of the Shares) is subject to the condition precedent that the Participant either pay or provide for the amount of any such withholding.

8.No Right to Continued Employment; Effect on Benefit Plans.  This Agreement shall not confer upon the Participant any right with respect to continuance of his or her employment or other relationship, nor shall it interfere in any way with the right of the Company, or any of its direct or indirect 

subsidiaries, to terminate his or her employment or other relationship, at any time.  Income realized by the Participant pursuant to this Agreement shall not be included in the Participant’s earnings for the purpose of any benefit plan in which the Participant may be enrolled or for which the Participant may become eligible, unless otherwise specifically provided for in such plan.

9.Participant Representations.  In connection with the grant of the RSUs, the Participant represents the following:

(a)The Participant has, if and to the extent deemed necessary or advisable in the judgment of the Participant, reviewed with the Participant’s own tax advisors, the federal, state, local and foreign tax consequences of this Agreement and the transactions contemplated hereby.  

(b)The Participant is relying solely on such advisors, if any, and not on any statements or representations of the Company or any of its agents.  The Participant understands that the Participant (and not the Company) shall be responsible for the Participant’s own tax liability that may arise as a result of this Agreement and the transactions contemplated hereby.

(c)The Participant has received, read and understood this Agreement and the Incentive Plan and agrees to abide by and be bound by their respective terms and conditions.

10.Restrictive Covenants.

(a)Non-Competition.  While employed by the Company and for a period of one (1) year after the Participant’s Termination of Service with the Company for any reason, the Participant shall not, directly or indirectly, serve as an owner, principal, partner, employee, consultant, officer, director or agent of an entity, including a sole proprietorship, that engages or is planning to engage in any business in which the Company is engaged in any market in which the Company is engaged at the time of the Participant’s Termination of Service, including, without limitation, the production and delivery of materials and products for the aerospace and defense, oil and gas/chemical and hydrocarbon processing industries, and electrical energy, medical, automotive, food equipment and appliance, and construction and mining markets (each such entity in such industry or market is referred to as a “Competing Business”).  The Participant shall not be deemed to be in violation of this covenant solely by virtue of his or her ownership of not more than 2% of any company the stock of which is traded on a recognized securities exchange.  References in this Section 10 to the “Company” shall include its Subsidiaries and Affiliates.

The Company intends to restrict your activities following your employment with the Company only to the extent that your affiliation with a Competing Business may be detrimental to the Company.  To avoid unduly restricting your future employment, you should consult with the Company’s General Counsel (or officer of the Company fulfilling the same functions) if you intend to provide services to any potentially Competing Business during the one-year restricted period.  The Company will consider the individual circumstances of such requests and will not unreasonably withhold consent.  

(b)Non-Solicitation of Customers.  While employed by the Company and for a period of one (1) year after the Participant’s Termination of Service with the Company for any reason, the Participant shall not, directly or indirectly, on behalf of a Competing Business solicit or attempt to divert the business or patronage of any business entity that has purchased materials or products from the Company within two (2) years prior to such Termination of Service and shall not assist any person or business entity in planning or making such a solicitation.  

(c)Non-Solicitation of Employees.  While employed by the Company and for a period of one (1) year after the Participant’s Termination of Service with the Company for any reason, the Participant shall  not, directly or indirectly, solicit or assist another person or entity to solicit any person who consults with the Company or is employed by the Company to cease consulting with the Company or to leave the employ of the Company or to accept a consulting or other business relationship or employment with another person or entity, whether or not a Competing Business.

(d)Non-Disparagement.  The Participant shall not disparage the Company or its business, agents, servants, employees, officers or directors.

(e)Confidentiality.  The Participant shall not disclose, divulge or use any non-public information of the Company, including, but not limited to, manufacturing processes, customer lists, marketing plans or procedure proprietary information and trade secrets.  

(f)Notice of Rights under Applicable Law.  Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement shall impair the Participant’s rights under the whistleblower provisions of any applicable federal law or regulation or, for the avoidance of doubt, limit the Participant’s right to receive an award for information provided to any government authority under such law or regulation.  The Company hereby informs the Participant that, notwithstanding any provision of this Agreement to the contrary, an individual may not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (i) is made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law, or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding.  Further, an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the employer’s trade secrets to the attorney and use the trade secret information in the court proceeding if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order.  

(g)Consideration and Remedies.  The Participant recognizes and acknowledges that the opportunity to earn compensation or receive Shares under this Agreement is adequate consideration for the covenants set forth in this Section 10.  The Participant further acknowledges that the Company has no adequate remedy at law should the Participant violate or threaten to or attempt to violate any one or more of the covenants in this Section 10, and the Participant agrees that, in addition to the forfeiture of any RSUs that have not yet vested or Shares that have not yet been delivered to the Participant, the Company is entitled to an injunction or other equitable relief restraining the Participant from violating or threatening to or attempting to violate any one or more of the covenants set forth in this Section 10.  

11.Section 409A. This Agreement and the RSUs granted hereunder are intended to comply with the requirements of Section 409A of the Code or an exemption or exclusion therefrom, and, with respect to RSUs that are subject to Section 409A of the Code, the Incentive Plan and this Agreement shall be interpreted and administered in all respects in accordance with Section 409A of the Code (including with respect to the application of any defined terms to RSUs that constitute nonqualified deferred compensation, which defined terms shall be interpreted to have the meaning required by Section 409A of the Code to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code).  Each payment (including the delivery of Shares) under the RSUs that constitutes nonqualified deferred compensation subject to Section 409A of the Code shall be treated as a separate payment for purposes of Section 409A of the Code.  In no event may the Participant, directly or indirectly, designate the calendar year of any payment to be made under this Agreement that constitutes nonqualified deferred compensation subject to Section 409A of the Code.  Notwithstanding any other provision of this Agreement to the contrary, if the Participant is a “specified 

employee” within the meaning of Section 409A of the Code (as determined in accordance with the methodology established by the Company as in effect on the date of Termination of Service), amounts that constitute nonqualified deferred compensation within the meaning of Section 409A of the Code that would otherwise be payable by reason of the Participant’s Separation from Service during the six (6)-month period immediately following such Separation from Service shall instead be paid or provided on the earlier to occur of (i) the first business day following the date that is six (6) months following the Participant’s Separation from Service, or (ii) the date of the Participant’s death.  

12.Miscellaneous.

(a)Governing Law.  This Agreement shall be governed and construed in accordance with the domestic laws of the Commonwealth of Pennsylvania without regard to such Commonwealth’s principles of conflicts of laws.

(b)Successors and Assigns.  The provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, permitted assigns, heirs, executors and administrators of the parties hereto.  Neither this Agreement, nor any rights hereunder, shall be assignable or otherwise subject to hypothecation without the consent of all parties hereto.

(c)Entire Agreement; Amendment.  This Agreement contains the entire understanding between the parties hereto with respect to the subject matter of this Agreement and supersedes all prior and contemporaneous agreements and understandings, inducements or conditions, express or implied, oral or written, with respect to the subject matter of this Agreement, including, without limitation, the terms of any employment or change of control agreement to which the Participant is a party, except with respect to the definitions of “Cause” and “Disability” as may be set forth in any such Individual Agreement that becomes applicable on a Change in Control, which definitions shall apply to the RSUs from and after such Change in Control.  This Agreement may not be amended or modified without the written consent of the Company and the Participant.

(d)Counterparts.  This Agreement may be executed simultaneously in any number of counterparts, each of which, when so executed and delivered, shall be taken to be an original and all of which together shall constitute one document.

(e)Compliance with Corporate Policies.  No delivery of Share shall be made under this Agreement or in respect of the RSUs, unless the Participant has fully complied with all policies of the Company, applicable to employees, including, but not limited to, the Company’s Corporate Guidelines for Business Conduct and Ethics.

13.Clawback.  The Participant acknowledges and agrees that RSUs granted hereunder and the Shares received in respect thereof shall be subject to the clawback provisions set forth in Section 15(j) of the Incentive Plan, the terms of any clawback policy that the Company may adopt and that is applicable to the Participant, as it may be amended from time to time, and any provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation, and the Participant shall pay any Forfeiture Amount required by Section 15(j) of the Incentive Plan, or any other amount as required by the terms of any such policy or applicable law.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

ALLEGHENY TECHNOLOGIES INCORPORATED

By:      
		
	Name:
	Elliot S. Davis

		
	Title:
	Senior Vice President, General Counsel,

Chief Compliance Officer
and Corporate Secretary

Appendix A

“Disability” shall mean any condition as a result of which the Participant has been determined eligible to receive long-term disability benefits under the Company’s long term disability plan.   
[ “Good Reason” shall mean, without the Participant’s express written consent, the occurrence of any one or more of the following:
(a)(i) a material diminution of the Participant’s position, authorities, duties, responsibilities or status (including offices, titles, or reporting relationships) as an employee of the Company (or those of the supervisor to whom the Participant is required to report, including a requirement that the Participant report to a corporate officer or other employee rather than directly to the Board), in each case, from those in effect as of immediately prior to the Change in Control, or (ii) the assignment to the Participant of duties or responsibilities inconsistent with his or her position as of immediately prior to the Change in Control, other than an insubstantial and inadvertent act that is remedied by the Company promptly after receipt of notice thereof given by the Participant;

(b)the Company’s requiring the Participant to be based at a location in excess of thirty-five (35) miles from the location of the Participant’s principal job location or office immediately prior to the Change in Control, except for required travel on the Company’s business to an extent consistent in all material respects with the Participant’s business travel obligations as of immediately prior to the Change in Control;

(c)(i) a reduction in the Participant’s annual base salary, (ii) a material reduction in the Participant’s target annual incentive opportunity or (iii) a material reduction in the other compensation and benefits provided or made available to the Participant from the Company, in each case, from those in effect immediately prior to the Change in Control or, if greater, following the Change in Control; or

(d)a material diminution in the budget over which the Participant retains authority relative to such budget immediately prior to the Change in Control.
The Participant’s mental or physical incapacity following the occurrence of an event described above shall not affect the Participant’s ability to terminate employment for Good Reason, and the Participant’s death following delivery of a notice of termination for Good Reason shall not affect the Participant’s estate’s entitlement to benefits provided upon a termination of employment for Good Reason.

To invoke a termination for Good Reason, the Participant shall provide written notice to the Company of the existence of one or more of the conditions described above within ninety (90) days following the Participant’s knowledge of the initial existence of such condition or conditions, specifying in reasonable detail the conditions constituting Good Reason, and the Company or its Affiliate shall have thirty (30) days following receipt of such written notice (the “Cure Period”) during which it may remedy the condition.  If the Company or the Affiliate fails to remedy the condition constituting Good Reason during the applicable Cure Period, the Participant’s Termination of Service must occur, if at all, no later than sixty (60) days following the initial existence of such condition. ] 2  

                                     
2 Applicable to executives who are party to Change in Control Severance Agreements 

“Retirement” shall mean, (a) prior to a Change in Control, a termination of employment with the Company and each Subsidiary of the Company, with the consent of the Company at or after (i) attaining age 55 and (ii) completing five years of employment with the Company or any Subsidiary of the Company and (b) following a Change in Control, at or after (i) attaining age 55 and (ii) completing five years of employment with the Company or any Subsidiary of the Company.Exhibit 4.22

 

 

POET
TECHNOLOGIES INC.

 

2018 STOCK OPTION
PLAN (the “Plan”)

 

	1.	Purchase of the Plan

 

The purpose of the Plan
is to assist the Corporation in attracting, retaining and motivating Directors, Employees and Consultants of the Corporation and
which terms are hereinafter collectively referred to as (“Directors, Employees and Consultants”) and any of its subsidiaries
and to closely align the personal interests of such Directors, Employees and Consultants with those of the shareholders by providing
them with the opportunity, through options, to acquire common shares in the capital of the Corporation. Capitalized terms used
in this Plan that are not otherwise defined have the meanings ascribed to them in TSX Venture Exchange Policy 4.4 – Incentive
Stock Options (“Policy 4.4”) or TSX Venture Exchange Policy 1.1 - Interpretation.

 

	2.	Implementation

 

The Plan and the grant
and exercise of any options under the Plan are subject to compliance with the applicable requirements of each stock exchange (“Exchanges”)
on which the shares of the Corporation are listed at the time of the grant of any options under the Plan and of any governmental
authority or regulatory body to which the Corporation is subject.

 

Upon approval by the Shareholders of the Corporation,
the Plan will replace and supersede the previous Plan known as the “2016 Stock Option Plan” which was approved by Shareholders
on July 7, 2016. Notwithstanding that at some future date, the shares of the Corporation are no longer listed on the TSX Venture
Exchange, the Plan will remain in effect until amended or discontinued in accordance with section 7, provided that it is in compliance
with all applicable corporate and securities laws, rules and regulations.

 

	3.	Administration

 

The Plan shall be administered by the Board
of Directors of the Corporation which shall, without limitation, subject to the approval of the Exchanges, have full and final
authority in its discretion, but subject to the express provisions of the Plan, to interpret the Plan, to prescribe, amend and
rescind rules and regulations relating to it and to make all other determinations deemed necessary or advisable for the administration
of the Plan. The Board of Directors may delegate any or all of its authority with respect to the administration of the Plan and
any or all of the rights, powers and discretions with respect to the Plan granted to it hereunder to such committee of directors
of the Corporation as the Board of Directors may designate and upon such delegation such committee of directors, as well as the
Board of Directors, shall be entitled to exercise any or allof such authority, rights, powers and discretions with respect
to the Plan. When used hereafter in the Plan, “Board of Directors” shall be deemed to include a committee of directors
acting on behalf of the Board of Directors.

 

	4.	Shares Issuable Under the Plan

 

Subject to the requirements of the TSX Venture Exchange:

 

		(a)	the aggregate number of shares (“Optioned Shares”) that may
be issuable pursuant to options granted under the Plan will not exceed 57,611,360 shares (being an increase of 13,258,475 since
last shareholders’ approval) hereinafter referred to as the “Fixed Number”;

 

		(b)	this Plan, in order to be implemented, requires the approval of the majority
of the shareholders of the Corporation;

 

		(c)	unless this Plan is approved by the majority of the disinterested shareholders
of the Corporation (the “Disinterested Approval”),

 

		(i)	the aggregate number of shares reserved for issuance under stock options
granted to Insiders of the Corporation (as a group), at any point in time, under this Plan and all outstanding stock option plans
or grants of options may not exceed 10% of the issued shares of the Corporation;

 

		(ii)	no options exceeding an aggregate of 10% of the issued shares of the Corporation, calculated at

 

the date an option is granted
to an Insider, may be granted to Inside rs (as a Group) within a 12 month period und er this Plan and al l outstanding stoc k option
plans or grants of options.;

 

     

     

    

 

		(iii)	no options exceeding an aggregate of 5% of the issued shares of the Corporation,
calculated on the date an option is granted to the Person, may be granted to any one Person (and, where permitted under Policy
4.4, any Companies wholly owned by that Person) within a 12 month period under this Plan and all outstanding stock option plans
or grants of options;

 

		(iv)	upon the Corporation obtaining the requisite Disinterested Approval, the provisions set out in this subsection 4 (c)
                                                                 shall no longer apply;

 

		(d)	no options exceeding an aggregate of 2% of the issued shares of the Corporation,
calculated at the date an option is granted to the Consultant, may be granted to any one Consultant in a 12 month period;

 

		(e)	no options exceeding an aggregate of 2% of the issued shares of the Corporation,
calculated at the date an option is granted to any such Person, may be granted to all Persons retained to provide Investor Relations
Activities in any 12 month period. Persons retained to provide Investor Relations Activities shall include any Consultant that
performs Investor Relations Activities and any Employee or Director whose role and duties primarily consist of Investor Relations
Activities.

 

		(f)	Policy 4.4 requires that the Board of Directors, through the establishment
of appropriate procedures, monitor the trading in the securities of the Issuer by all Optionees performing Investor Relations Activities.
These procedures may include, for example, the establishment of a designated brokerage account through which the Optionee conducts
all trades in the securities of the Issuer or a requirement for such Optionees to file insider trade reports with the Board.

 

	5.	Eligibility

 

		(a)	General

 

Options may be granted
under the Plan to Directors, Employees, Consultants, and Consultant Companies of the Corporation and any of its subsidiaries (collectively
the “Optionees” and individually an “Optionee”). Subject to the provisions of the Plan, the total number
of Optioned Shares to be made available under the Plan and to each Optionee, the time or times and price or prices at which options
shall be granted, the time or times at which such options are exercisable, and any conditions or restrictions on the exercise of
options, shall be in the full and final discretion of the Board of Directors.

 

		(b)	Consultant Company and other Companies

 

Provided that a Form 4F
(Certification and Undertaking Required from a Company Granted an Incentive Stock Option) duly completed and signed by the
Optionee in the form attached hereto as Schedule “B” or such other form as may be amended by the TSX Venture Exchange
from time to time, options may also be granted under the Plan to:

 

		(i)	Except in relation to a Consultant Company, a company which is providing consulting services to the Corporation and is wholly owned by individuals
eligible for an option grant.

 

		(c)	Management Company Employees

 

Options may also be granted
to individuals (hereinafter referred to as “Management Company Employees”) employed by a company providing management
services to the Corporation, which services are required for the ongoing successful operation of the business enterprise of the
Corporation, except for services involving Investor Relations Activities.

 

		(d)	Options Granted to Employees, Consultants or Management Company Employees

 

The Corporation and the Optionee
are responsible for ensuring and confirming that, in the event it wishes to grant options under the Plan to Employees, Consultants,
Consultant Companies or Management Company Employees, it will only grant such options to Optionees who are bona fide Employees,
Consultants, Consultant Companies or Management Company Employees, as the case may be.

 

	6.	Terms and Conditions

 

All options under the Plan shall be granted upon
and subject to the terms and conditions hereinafter set forth.

 

		(a)	Exercise price

 

    	 	2	 

     

    

 

The exercise price to each Optionee for each
Optioned Share shall be determined by the Board of Directors, but shall be:

 

		(i)	not less than the last closing price of the Corporation’s common shares
as traded on the TSX Venture Exchange before the date of the stock option grant, unless the price determined by the Board of Directors
is discounted, in which case shall not be less than the Discounted Market Price of the Corporation’s common shares as traded
on the TSX Venture Exchange, or

 

		(ii)	such other price as may be agreed to by the Corporation and accepted by the TSX Venture Exchange,

 

provided that the exercise
price for each Optioned Share in respect of options granted within 90 days of a Distribution by a Prospectus shall not be less
than the greater of the Discounted Market Price and the price per share paid by public investors for listed shares of the Corporation
under the Distribution.

 

		(b)	Reduction in the Exercise Price of Options Granted to Insiders

 

In the event the Corporation
wishes to reduce the exercise price of any options held by Insiders of the Corporation at the time of the proposed reduction, the
approval of the disinterested Shareholders of the Corporation will be required prior to the exercise of any such options at the
reduced exercise price.

 

		(c)	Option Agreement

 

All options shall be granted
under the Plan by means of an agreement (the “Option Agreement”) between the Corporation and each Optionee in the form
attached hereto as Schedule “A” or such other form as may be approved by the Board of Directors, such approval to be
conclusively evidenced by the execution of the Option Agreement by any one director or officer of the Corporation, or otherwise
as determined by the Board of Directors.

 

		(d)	Length of Grant

 

Subject to sections 6
(k), 6 (m), 6 (n), 6 (o), 6 (p) and 6 (s), all options granted under the Plan shall be for a term determined by the Board of Directors,
provided that no options shall expire later than that date which is 10 years from the date such options were granted.

 

		(e)	Non-Assignability of Options

 

All options granted under
the Plan are non-transferable and non-assignable (whether absolutely or by way of mortgage, pledge or other charge) by an Optionee
other than by will or other testamentary instrument or the laws of succession (subject to section 6 (p) hereof) and may be exercisable
during the lifetime of the Optionee only by such Optionee.

 

		(f)	Vesting Schedules

 

The following vesting
schedules will apply to incentive stock options granted under the Plan. Each Optionee who is granted options under the Plan will
become vested with the right to exercise one-quarter (1/4) of the options on the date of the grant of the options and a further
one-quarter (1/4) upon the conclusion of every six months subsequent to the date of the grant of the options, such that that Optionee
will be vested with the right to exercise one hundred percent (100%) of his options upon the conclusion of 18 months from the date
of the grant of the options. The Board of Directors may, at the time of grant, apply a different vesting schedule for any or all
options granted, including such schedule whereby the options will vest immediately, provided that options granted to Persons retained
to provide “Investor Relations Activities” must vest in stages over a period of not less than 12 months with no more
than one-quarter (1/4) of the options vesting in any three month period.

 

		(g)	Right to Postpone Exercise

 

Each Optionee, upon becoming entitled to exercise the option in respect
of any Optioned Shares in accordance with the Option Agreement, shall thereafter be entitled to exercise the option to purchase
such Optioned Shares at any time prior to the expiration or other termination of the Option Agreement or the option rights granted
thereunder in accordance with such agreement.

 

		(h)	Exercise and Payment

 

Any option granted under the
Plan may be exercised by an Optionee or, if applicable, the legal

 

    	 	3	 

     

    

 

representatives of an Optionee,
giving notice to the Corporation specifying the number of shares in respect of which such option is being exercised, accompanied
by payment (by bank draft or certified cheque/check payable to the Corporation) of the entire exercise price (determined in accordance
with the Option Agreement) for the number of shares specified in the notice. Upon any such exercise of an option by an Optionee
the Corporation shall cause the transfer agent and registrar of shares of the Corporation to promptly deliver to such Optionee
or the legal representatives of such Optionee, as the case may be, a share certificate in the name of such Optionee or the legal
representatives of such Optionee, as the case may be, representing the number of shares specified in the notice. If the Corporation
has engaged an administrator to administer the Plan, such as an Internet-based administration platform, which also includes the
availability of a broker- assisted exercise process, the Optionee agrees to follow the procedures established by the Corporation
or such administrator with respect to the exercise of options.

 

		(i)	Rights of Optionees

 

The Optionees shall have
no rights whatsoever as shareholders in respect of any of the Optioned Shares (including, without limitation, voting rights or
any right to receive dividends, warrants or rights under any rights offering) other than Optioned Shares in respect of which Optionees
have exercised their option to purchase and which have been issued by the Corporation.

 

		(j)	Effect of a Take-Over Bid

 

If a bona fide offer (
an “Offer”) for Shares is made to the Optionee or to shareholders of the Corporation generally or to a class of shareholders
which includes the Optionee, which Offer, if accepted in whole or in part, would result in the offeror becoming a control person
of the Corporation, within the meaning of subsection 1(1) of the Securities Act, the Corporation shall, immediately upon receipt
of notice of the Offer, notify each Optionee of full particulars of the Offer, whereupon (subject to the approval of the Exchanges)
all Option Shares subject to such Option will become fully vested and the Option may be exercised in whole or in part by the Optionee
so as to permit the Optionee to tender the Option Shares received upon such exercise, pursuant to the Offer. However, if:

 

		(i)	the Offer is not completed within the time specified therein; or

 

		(ii)	all of the Option Shares tendered by the Optionee pursuant to the Offer are not taken up or paid for by the offeror in respect thereof;

 

then the Option Shares
received upon such exercise, or in the case of clause (b) above, the Option Shares that are not taken up and paid for, may be returned
by the Optionee to the Corporation and reinstated as authorized but unissued Shares and with respect to such returned Option Shares,
the Option shall be reinstated as if it had not been exercised and the terms upon which such Option Shares were to become vested
pursuant to section 6 (f) shall be reinstated. If any Option Shares are returned to the Corporation under this section 6 (g), the
Corporation shall immediately refund the exercise price to the Optionee for such Option Shares.

 

		(k)	Acceleration of Expiry Date

 

If at any time when an
Option granted under the Plan remains unexercised with respect to any Unissued Option Shares, an Offer is made by an offeror, the
Directors may, upon notifying each Optionee of full particulars of the Offer, declare all Option Shares issuable upon the exercise
of Options granted under the Plan, fully vested, and declare that the Expiry Date for the exercise of all unexercised Options granted
under the Plan is accelerated so that all Options will either be exercised or will expire prior to the date upon which Shares must
be tendered pursuant to the Offer. The Directors shall give each Optionee as much notice as possible of the acceleration of the
Options under this section, except that not less than 5 business days’ and not more than 30 calendar days’ notice is
required.

 

		(l)	Effect of a Change of Control

 

If a Change of Control
occurs, all Option Shares subject to each outstanding Option will become fully vested, whereupon such Option may be exercised in
whole or in part by the Optionee, subject to the approval of the Exchanges if necessary.

 

		(m)	Alterations in Shares

 

In the event of a stock
dividend, subdivision, redivision, consolidation, share reclassification (other than pursuant to the Plan), amalgamation,
merger, corporate arrangement, reorganization, liquidation or the like, of or by the Corporation, the Board of Directors may
make such adjustment, if any, of the number of Optioned Shares, or of the exercise price, or both, as it shall deem
appropriate to give proper effect to such event. If because of a proposed merger, amalgamation or other corporate arrangement
or reorganization, the exchange or replacement of shares in the Corporation for those in another corporation is imminent, the
Board of Directors may, in a fair and equitable manner, determine the manner in which all unexercised option rights granted
under the Plan shall be treated including, for example, requiring the acceleration of the time for the exercise of such
rights by the Optionees and of the time for the fulfilment of any conditions or restrictions on such exercise. All
determinations of the Board of Directors under this section 6 (m) shall be full and final.

 

    	 	4	 

     

    

 

		(n)	Termination for Cause

 

If an Optionee ceases
to be either a Director, Employee, Consultant or Management Company Employee of the Corporation or of any of its subsidiaries as
a result of having been dismissed from any such position for cause, all unexercised option rights of that Optionee under the Plan
shall immediately become terminated and shall lapse, notwithstanding the original term of the option granted to such Optionee under
the Plan.

 

		(o)	Termination Other Than For Cause

 

		(i)	If an Optionee ceases to be either an Employee, Consultant or Management
Company Employee of the Corporation or any of its subsidiaries for any reason other than as a result of having been dismissed for
cause as provided in section 6 (n) or as a result of the Optionee’s death, such Optionee shall have the right for a period
of 90 days (or until the normal expiry date of the option rights of such Optionee if earlier) from the date of ceasing to be either
an Employee, Consultant or Management Company Employee to exercise the option under the Plan with respect to all Optioned Shares
of such Optionee to the extent they were exercisable on the date of ceasing to be either an Employee, Consultant or Management
Company Employee. Upon the expiration of such 90 day period all unexercised option rights of that Optionee shall immediately become
terminated and shall lapse notwithstanding the original term of the option granted to such Optionee under the Plan.

 

		(ii)	If an Optionee ceases to be either a Director or Officer of the Corporation
or any of its subsidiaries for any reason other than as a result of having been dismissed for cause as provided in section 6 (n)
or as a result of the Optionee’s death, such Optionee shall have the right for a period of one year (or until the normal
expiry date of the option rights of such Optionee if earlier) from the date of ceasing to be either a Director or Officer to exercise
the option under the Plan with respect to all Optioned Shares of such Optionee to the extent they were exercisable on the date
of ceasing to be either a Director or Officer. Upon the expiration of such one year period all unexercised option rights of that
Optionee shall immediately become terminated and shall lapse notwithstanding the original term of the option granted to such Optionee
under the Plan.

 

		(iii)	If an Optionee engaged in providing Investor Relations Activities to the Corporation ceases to be employed in providing such
Investor Relations Activities, such Optionee shall have the right for a period of 30 days (or until the normal expiry date of the
option rights of such Optionee if earlier) from the date of ceasing to provide such Investor Relations Activities to exercise the
option under the Plan with respect to all Optioned Shares of such Optionee to the extent there were exercisable on the date of
ceasing to provide such Investor Relations Activities. Upon the expiration of such 30-day period all unexercised option rights
of that Optionee shall immediately become terminated and shall lapse notwithstanding the original term of the option granted to
such Optionee under the Plan.

 

		(p)	Deceased Optionee

 

In the event of the death
of any Optionee, the legal representatives of the deceased Optionee shall have the right for a period of one year (or until the
normal expiry date of the option rights of such Optionee if earlier) from the date of death of the deceased Optionee to exercise
the deceased Optionee’s option with respect to all of the Optioned Shares of the deceased Optionee to the extent they were
exercisable on the date of death. Upon the expiration of such period all unexercised option rights of the deceased Optionee shall
immediately become terminated and shall lapse notwithstanding the original term of the option granted to the deceased Optionee
under the Plan.

 

    	 	5	 

     

    

 

		(q)	Hold Period

 

In addition to any resale
restrictions under securities legislation, securities regulation and securities rules, as amended, and the policies, notices, instruments
and blanket orders in force from time to time that are applicable to an Issuer, and any other circumstances for which the Exchange
Hold Period may apply, where the exercise price of the stock option is at a discount to the Market Price, all stock options and
any Option Shares issued under stock options exercised prior to the expiry of the Exchange Hold Period must be legended with the
Exchange Hold Period commencing on the date the stock options were granted.

 

		(r)	Cancelled or Expired Options

 

Options that have been cancelled or that have
expired without being exercised continue to be issuable under the plan under which they were approved.

 

		(s)	Extension of Options during Blackout Period.

 

Stock options governed
by this plan that have an expiry date which falls within a period (a “blackout period”) during which the Corporation
prohibits Optionees from exercising their stock options are automatically extended as set out below. The following requirements
are applicable to any such automatic extension provision:

 

		(i)	The blackout period must be formally imposed by the Corporation pursuant
to its internal trading policies as a result of the bona fide existence of undisclosed Material Information. For greater certainty,
in the absence of the Corporation formally imposing a blackout period, the expiry date of any options will not be automatically
extended in any circumstances.

 

		(ii)	The blackout period must expire upon the general disclosure of the undisclosed
Material Information. The expiry date of the affected stock options can be extended to no later than ten (10) business days after the expiry of the blackout
period.

 

		(iii)	The automatic extension of an Optionee’s options will not be permitted
where the Optionee or the Issuer is subject to a cease trade order (or similar order under Securities Laws) in respect of the Issuer’s
securities.

 

	7.	Amendment and Discontinuance of Plan

 

Subject to the acceptance
of the Exchanges, the Board of Directors may from time to time amend or revise the terms of the Plan or may discontinue the Plan
at any time, provided that no such action may in any manner adversely affect the rights under any options earlier granted to an
Optionee under the Plan without the consent of that Optionee.

 

	8.	No Further Rights

 

Nothing contained in the
Plan nor in any option granted hereunder shall give any Optionee or any other person any interest or title in or to any shares
of the Corporation or any rights as a shareholder of the Corporation or any other legal or equitable right against the Corporation
whatsoever other than as set forth in the Plan and pursuant to the exercise of any option, nor shall it confer upon the Optionees
any right to continue as a Director, Employee or Consultant of the Corporation or of any of its subsidiaries.

 

	9.	Compliance with Laws

 

The obligations of the
Corporation to sell shares and deliver share certificates under the Plan are subject to such compliance by the Corporation and
the Optionees as the Corporation deems necessary or advisable with all applicable corporate and securities laws, rules and regulations.

 

 

Approved by the Shareholders on June 21, 2018

 

    	 	6	 

     

    

 

 

 

SCHEDULE “A”

 

POET
TECHNOLOGIES INC.

 

STOCK OPTION PLAN
- OPTION AGREEMENT

 

This Option Agreement
dated ● (the “Grant Date”) is entered into
between POET TECHNOLOGIES INC. (“the Corporation”) and ● (the “Optionee”) pursuant to the
Corporation’s Stock Option Plan (the “Plan”). A copy of the current version of the Plan is
available for downloadfromSEDAR(www.sedar.com) or from theCompany’s website(http://www.poet-
technologies.com/documents/Stock-Option-Plan.pdf .

 

The parties agree and confirm
that: (i) the Optionee was granted ● options (the “Options”), each option entitling the optionee to purchase
one common share (an “Option Share” or collectively the "Optioned Shares") of the Corporation for the price
of ● per share (the “Exercise Price”); (ii) the
Options will vest according to the vesting schedule set forth below, and only the vested Options are exercisable; (iii) unless
exercised or cancelled earlier, the Options expire and this agreement will terminate on ●
(the “Expiry Date”); (iv) the Options are subject to the conditions set out in the Plan and subject to there
being no objection by the TSX Venture Exchange to the grant of the Option to the Optionee.

 

[INSERT VEST SCHEDULE
TABLE]

 

For greater certainty,
the Options continue to be exercisable until the termination or cancellation thereof as provided in this Option Agreement and the
Plan.

 

By signing this Option Agreement,
the Optionee acknowledges that the Optionee (i) is either a bona fide Director, Officer, Employee, Consultant, or Management Company
Employee of the Corporation (as defined in Policy 4.4 of the TSX Venture Exchange), (ii) has read and understands the Plan, and
(iii) agrees to the terms and conditions of the Plan and this Option Agreement.

 

The Optionee hereby agrees
to comply with all applicable Canadian securities laws, all applicable securities laws of the Subscriber's jurisdiction of residence
and all applicable Rules, Regulations and Policies of the TSX Venture Exchange for the exercise of Options and the sale of the
Optioned Shares. Any sale of shares issuable under this Option Agreement prior to the effective date of the exercise is considered
a short sale under applicable securities laws.

 

The Corporation has engaged
Solium Capital Inc. (“Solium”) to administer the Plan using an Internet-based administration platform, which also includes
the availability of a broker-assisted exercise process. The Optionee can exercise his Option by executing an “Exercise and
Hold” or “Exercise and Sell” transaction by accessing Solium’s website or by telephone. For Exercise and
Hold transactions, the aggregate Exercise Price along with the applicable withholding income taxes (“Taxes”) will need
to be sent to the Secretary of the Corporation before the Optioned Shares can be issued and sent to the Optionee. For Exercise
and Sell transactions, the aggregate Exercise Price along with the applicable Taxes will be paid to Corporation by Solium from
the proceeds of the sale of the Optioned Shares.

 

Upon any exercise of Options
pursuant to an Exercise and Sell transaction, if the Optionee is a person residing in the United States at the time of exercising
his Option, the Optionee covenants, agrees and certifies that as at the date of such exercise,

		•	he is not an affiliate of the Corporation, as that term is defined in the U.S Securities Act
of 1933, (or if he is, he is an affiliate of the Corporation only by virtue of being an officer or director of the Corporation),

		•	he has not offered, and has not instructed any person to offer, the Optioned Shares to a person in the United States;

		•	the sale of his Optioned Shares should only be executed in, on or through the facilities of The
TSX Venture Exchange and neither he nor any person acting on his behalf know that a sale has been prearranged with a buyer in the
United States,

		•	neither he nor any affiliate of his nor any person acting on his behalf has engaged or will
engage in any directed selling efforts in the United States in connection with the offer and sale of such Optioned Shares,

		•	the sale will be bona fide and not for the purpose of "washing off" any resale restrictions imposed,

		•	he does not intend to replace the shares sold with fungible unrestricted securities; and

		•	his sale or contemplated sale is not a transaction, or part of a series of transactions which
is part of a plan or scheme to evade the registration provisions of the 1933 Act.

 

Executed by the Corporation as
of ●.

 

	 	 	POET TECHNOLOGIES INC.	 
	 	 	 	 	 
	Acceptance	 	Per:	 	 
	 	 	 	Authorized Signatory	 
	OPTIONEE (Employee Number)	 	 	 	 
	Dated:	 	 	 	 

 

    	 	7	 

     

    

 

SCHEDULE “B”

 

 

 

 

FORM
4F

CERTIFICATION
AND UNDERTAKING REQUIRED FROM A

COMPANY
GRANTED AN INCENTIVE STOCK OPTION

 

 

	Re:	 	(the “Issuer”)

 

	Trading Symbol:	 	 	 

 

	 	 	(the “Option Holder”) certifies that all securities of 

 

the Option Holder are owned by
____________________________ , a Person eligible to be granted an incentive stock option, and undertakes, for the duration of
the time that the Option Holder is the holder of an incentive stock option in the securities of the Issuer, that it will
not:

 

	1.	effect or permit any transfer of ownership or option of securities of the Option Holder; or

 

	2.	allot and issue further securities of any class of shares of the Option Holder to any other
individual or entity.

 

Acknowledgement - Personal Information

 

“Personal Information” means any information
about an identifiable individual, and includes the information contained in the first paragraph of this Form.

 

The undersigned hereby acknowledges and agrees
that it has obtained the express written consent of each individual to:

 

	(a)	the disclosure of Personal Information by the undersigned to the Exchange (as defined in Appendix
6A) pursuant to this Form; and

 

	(b)	the collection, use and disclosure of Personal Information by the Exchange for the purposes described in Appendix 6A or as otherwise identified by
the Exchange, from time to time.

 

 

 

	Dated	 
	 	 
	 	 
	[Name of Option Holder]	 
	 	 
	Authorized signatory	 

 

 

 

 

 

 

 

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00295-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00295-of-00352.parquet"}]]