Document:

Exhibit

Exhibit 10.7

EMCORE CORPORATION
INCENTIVE STOCK OPTION AWARD AGREEMENT
This Incentive Stock Option Award Agreement (this “Agreement”), dated [], is made between EMCORE Corporation (the “Company”) and [] (the “Optionee”).  All capitalized terms used herein that are not defined herein shall have the respective meanings given to such terms in the EMCORE Corporation 2010 Equity Incentive Plan, as adopted effective May 21, 2010, as further amended and restated effective as of March 2, 2011, and as further amended from time to time (the “Plan”).
W I T N E S S E T H:
1.    Grant of Option.  Pursuant to the provisions of the Plan, the Company hereby grants to the Optionee, subject to the terms and conditions of the Plan and subject further to the terms and conditions herein set forth, the right and option to purchase from the Company all or any part of an aggregate of [] shares of the common stock of the Company, no par value (the “Stock”), at a per share purchase price (the “Strike Price”) equal to $[] the “Option”), such Option to be exercisable as hereinafter provided.  The Option shall be treated as an “incentive stock option,” as defined in Section 422 of the Code, to the extent permitted under the Code.
2.    Terms and Conditions.  It is understood and agreed that the Option evidenced hereby is subject to the following terms and conditions:
(a)    Expiration Date.  The Option shall expire ten (10) years after the date indicated above.
(b)    Exercise of Option.  (i)  Subject to such reasonable administrative regulations as the Committee may adopt from time to time, the other terms of this Agreement and the Plan, the Option may be exercised pursuant to procedures established by the Company from time to time on or after the dates indicated below as to that percentage of the total shares of Stock subject to the Option as set forth below opposite each such date, plus any shares of Stock as to which the Option could have been exercised previously, but was not so exercised.
	
		
	Date
	Percentage

	 
	25%

	 
	25%

	 
	25%

	 
	25%

(ii) Any exercise of all or any part of the Option shall be accompanied by notice to the Company specifying the number of shares of Stock as to which the Option is being exercised.  Upon the valid exercise of all or any part of the Option, a certificate (or certificates) for the number of shares of Stock with respect to which the Option is exercised shall be issued in the name of the Optionee, subject to the other terms and conditions of this Agreement and the Plan.  Notation of any partial exercise shall be made by the Company on Schedule I attached hereto.  Optionee must purchase at least one hundred (100) shares, or the full number of shares of Stock then remaining for purchase under this Option, if less.  

(c)    Consideration.  At the time of any exercise of the Option, the purchase price of the shares of Stock as to which the Option shall be exercised shall be paid to the Company (i) in United States dollars by personal check, bank draft or money order; (ii) if permitted by applicable law and approved by the Committee, with Stock, duly endorsed for transfer to the Company, already owned by the Optionee (or by the Optionee and his spouse jointly) for at least six (6) months prior to the tender thereof and not used for another such exercise during such six (6) month period, having a total Fair Market Value on the date of such exercise of the Option, equal to such purchase price of such shares of Stock; (iii) if permitted by applicable law, in accordance with a cashless exercise or broker-assisted exercise procedure approved by the Committee permitting the Optionee to authorize a broker or dealer to sell shares of Stock (or a sufficient portion of such shares) that may be acquired upon exercise of the Option and pay to the Company in cash a portion of the sale proceeds equal to such purchase price of the shares of Stock for which the Option is so exercised and any taxes required to be paid as a result of such exercise; or (iv) a combination of the consideration provided for in the foregoing clauses (i) through (iii). 
(d)    Exercise Upon Death, Disability or Termination of Employment.  The Option shall terminate upon the termination, for any reason, of the Optionee’s employment with the Company or a Subsidiary, and no shares of Stock may thereafter be purchased under the Option, except as follows:
(i)    In the event of the death of the Optionee while an employee of the Company or a Subsidiary, the Option, whether or not exercisable in accordance with Section 2(b) hereof at the time of his death, may be exercised after the Optionee’s death by his designated beneficiary, his heir, the legal representative of the Optionee’s estate or the legatee of the Optionee under his last will until the earlier to occur of the second anniversary of the Optionee’s death and the stated expiration date of the Option.
(ii)    If the Optionee’s employment with the Company or a Subsidiary shall terminate by reason of Disability, the Option, whether or not exercisable in accordance with Section 2(b) hereof upon such termination of employment, may be exercised after such termination until the earlier to occur of the second anniversary of such termination and the stated expiration date of the Option.   
(iii)    If the Optionee’s employment with the Company or Subsidiary terminates for any reason other than the ones described in paragraphs (i), (ii) or (v), the Option, to the extent exercisable in accordance with Section 2(b) hereof or the Plan upon such termination of employment, may be exercised after such termination until the earlier to occur of (1) the expiration of ninety (90) days following such termination, or if later, the 90th day following expiration of any blackout period in effect with respect to such Option, and (2) the stated expiration date of the Option.
(iv)    If the Optionee dies during the two (2) year or the applicable ninety (90) day period following termination of his employment specified in paragraphs (ii) or (iii) of this Section 2(d), the Option, to the extent the Option would have been exercisable pursuant to such applicable paragraph (ii) or (iii) as of the date of the Optionee’s death, may be exercised after the Optionee’s death by his designated beneficiary, his heir, the legal representative of his estate or the legatee of the Optionee under his last will until the earlier to occur of the second anniversary of the Optionee’s death and the stated expiration date of the Option.  
(v)    If the Optionee’s employment is terminated by the Company or a Subsidiary for Cause, the Option shall automatically, without any further action required by the Company, terminate on the date of such termination of employment and shall cease to thereafter be exercisable with respect to any shares of Stock.
(e)    Nontransferability.  The Option shall not be transferable otherwise than by will or the laws of descent and distribution, and is exercisable, during the lifetime of the Optionee, only by him (or, if the Optionee is Disabled and necessary, the Optionee’s legally authorized guardian or personal representative); provided that the Option may be exercised after the Optionee’s death by the beneficiary most recently named by the Optionee in a written designation thereof filed by the Optionee with the Company, in accordance with the Plan (or if applicable, the Optionee’s heir, the legal representative of his estate or the legatee of the Optionee under his last will).  The Company will not be required to recognize on its books any action taken in contravention of these restrictions.

(f)    Withholding Taxes.  At the time of receipt of Stock upon the exercise of all or any part of the Option, the Optionee shall be required to pay to the Company in cash (or make other arrangements, in accordance with Section 10.4 of the Plan, for the satisfaction of) any taxes of any kind required by law to be withheld with respect to such Stock; provided, however, such tax withholding obligations may be met, in whole or in part, pursuant to procedures, if any, approved by the Committee in its discretion and in accordance with applicable law, by (i) the withholding by the Company of Stock otherwise deliverable to the Optionee pursuant to the Option with a Fair Market Value on the date of such exercise equal to such tax liability (provided, however, that the amount of any Stock so withheld shall not exceed the amount necessary to satisfy required Federal, state, local and foreign withholding obligations using the minimum statutory rate) and/or (ii) tendering to the Company Stock, duly endorsed for transfer to the Company, owned by the Optionee (or by the Optionee and his spouse jointly) and acquired more than six (6) months prior to such tender with a Fair Market Value on the date of such exercise equal to such tax liability.  In no event shall Stock be delivered to the Optionee until the Optionee has paid to the Company in cash, or made arrangements satisfactory to the Company regarding the payment of, the amount of any taxes of any kind required by law to be withheld with respect to the Stock subject to the Option, and the Company shall have the right to deduct any such taxes from any payment of any kind otherwise due to the Optionee.
(g)    Issuance of Shares.  The shares of Stock issued upon exercise of the Options shall be registered in the Optionee’s name, or, if applicable, in the names of the Optionee’s heirs or estate.  In the Company’s discretion, such shares may be issued either in certificated form or in uncertificated, book entry form.  The certificate or book entry account shall bear such restrictive legends or restrictions as the Company, in its sole discretion, shall require.  If delivered in certificate form, the Company may deliver a share certificate to the Optionee, or deliver shares electronically or in certificate form to the Optionee’s designated broker on the Optionee’s behalf.  If the Optionee is deceased (or if Disabled and if necessary) at the time that a delivery of share certificates is to be made, the certificates will be delivered to the Optionee’s beneficiary, heir, legatee, estate, executor, administrator, legally authorized guardian or personal representative (as applicable).
(h)    Postponed Issuance and Delivery.  The Company may postpone the issuance and delivery of any shares of Stock provided for under this Agreement for so long as the Company determines to be necessary or advisable to satisfy the following: (i) the completion or amendment of any registration of such shares or satisfaction of any exemption from registration under any securities law, rule, or regulation; (ii) compliance with any requests for representations; and receipt of proof satisfactory to the Company that a person seeking such shares on the Optionee’s behalf upon the Optionee’s Disability (if necessary), or upon the Optionee’s estate’s behalf after the death of the Optionee, is appropriately authorized.  
(i)    Adjustment Event.  In the event of any Adjustment Event affecting the Stock, the Committee shall make an equitable and proportionate anti-dilution adjustment to offset any resultant change in the pre-share price of the Stock and preserve the intrinsic value of Options and any other Awards granted under the Plan. Such mandatory adjustment may include a change in any or all of (i) the number and kind of shares of Stock which thereafter may be awarded or optioned and sold under the Plan (including, but not limited to, adjusting any limits on the number and types of Awards that may be made under the Plan), (ii) the number and kind of shares of Stock subject to outstanding Awards, and (iii) the grant, exercise or conversion price with respect to any Option or Award. In addition, the Committee may make provisions for a cash payment to the Optionee or a person who has an outstanding Option. The number of shares of Stock subject to any Option shall be rounded to the nearest whole number. Any such adjustment shall be consistent with sections 424, 409A and 162(m) of the Code to the extent the Options subject to adjustment are subject to such sections of the Code.
(j)    Change in Control
(i)    In General.  Your Options shall be subject to the provisions marked with an [  ] below in the event of a Change in Control.  
[  ]   In the event of a Change in Control, any unvested Options shall vest and become exercisable.
[  ]     Notwithstanding Section 8.1 of the Plan, a Change in Control shall have no effect on the vesting or exercisability of any unvested options.

(ii)    Cancellation.  Notwithstanding Section 2(j)(i), the Committee (as constituted immediately prior to the Change in Control) may determine that all then-outstanding Options (whether vested or unvested) shall be canceled in exchange for a payment having a value equal to the excess, if any, of (i) the product of the price at which a Change in Control occurs multiplied by the aggregate number of shares covered by all such Options immediately prior to the Change in Control over (ii) the aggregate Strike Price for all such shares, to be paid as soon as reasonably practicable, but in no event later than 30 days following the Change in Control.
(iii)    Termination.  Notwithstanding Sections 2(j)(i) and 2(j)(ii), in the event of a Change in Control, the Committee may, in its discretion, terminate any outstanding Options if either (i) the Company provides holders of such Options with reasonable advance notice to exercise their outstanding and unexercised Options, or (ii) the Committee reasonably determines that the price at which the Change in Control will occur is equal to or less than the Strike Price for such Options. 
(iv)    Alternative Awards.  Notwithstanding Sections 2(j)(i), 2(j)(ii) and 2(j)(iii), no cancellation, termination, acceleration of exercisability or vesting, or settlement or other payment shall occur with respect to the Options if the Committee (as constituted immediately prior to the Change in Control) reasonably determines, in good faith, prior to the Change in Control that the Options shall be honored or assumed or new rights substituted therefor by an Alternative Award, in accordance with the terms of Section 8.2 of the Plan.
(g)    No Rights as Stockholder.  The Optionee shall not become the beneficial owner of the shares of Stock subject to the Option, nor have any rights to dividends or other rights as a shareholder with respect to any such shares, until the Optionee has exercised the Option in accordance with the provisions hereof and of the Plan and delivery of Stock has occurred.  No adjustment shall be made for dividends or other rights for which the record date is prior to the delivery of the Stock.
(h)    No Right to Continued Employment.  The Option shall not confer upon the Optionee any right to be retained in the service of the Company or a Subsidiary, nor restrict in any way the right of the Company or any Subsidiary, which right is hereby expressly reserved, to terminate his employment at any time with or without Cause (regardless of whether such termination results in (1) the failure of any Option to vest; (2) the forfeiture of any unvested or vested portion of any Option; and/or (3) any other adverse effect on the individual’s interests under the Plan).  Nothing in the Plan or this Agreement shall confer on the Optionee the right to receive any future Options under the Plan.
(i)    Inconsistency with Plan.  Notwithstanding any provision herein to the contrary, the Option provides the Optionee with no greater rights or claims than are specifically provided for under the Plan.  If and to the extent that any provision contained in this Agreement is inconsistent with the Plan, the Plan shall govern.
(j)    Compliance with Laws and Regulations.  The Option and the obligation of the Company to sell and deliver shares of Stock hereunder shall be subject in all respects to (i) all applicable Federal and state laws, rules and regulations and (ii) any registration, qualification, approvals or other requirements imposed by any government or regulatory agency or body which the Board shall, in its sole discretion, determine to be necessary or applicable.  Moreover, the Option may not be exercised if its exercise, or the receipt of shares of Stock pursuant thereto, would be contrary to applicable law.
(o)    Receipt of Plan and Prospectus.  A copy of the Plan and the Prospectus for the Plan, as amended from time to time (the “Prospectus”), is attached. By executing this Agreement, you acknowledge that you have received a copy of the Plan and the Prospectus.  You may request additional copies of the Plan or Prospectus by contacting EMCORE Corporation, Attn: General Counsel, 2015 Chestnut Street Alhambra, CA 91803.  You also may request from the Secretary of the Company copies of the other documents that make up a part of the Prospectus (described more fully at the end of the Prospectus), as well as all reports, proxy statements and other communications distributed to the Company’s security holders generally.

3.    Investment Representation.  If at the time of exercise of all or part of the Option the Stock is not registered under the Securities Act and/or there is no current prospectus in effect under the Securities Act with respect to the Stock, the Optionee shall execute, prior to the issuance of any shares of Stock to the Optionee by the Company, an agreement (in such form as the Committee may specify) in which the Optionee, among other things, represents, warrants and agrees that the Optionee is purchasing or acquiring the shares acquired under this Agreement for the Optionee’s own account, for investment only and not with a view to the resale or distribution thereof, that the Optionee has knowledge and experience in financial and business matters, that the Optionee is capable of evaluating the merits and risks of owning any shares of Stock purchased or acquired under this Agreement, that the Optionee is a person who is able to bear the economic risk of such ownership and that any subsequent offer for sale or distribution of any of such shares shall be made only pursuant to (i) a registration statement on an appropriate form under the Securities Act, which registration statement has become effective and is current with regard to the shares being offered or sold, or (ii) a specific exemption from the registration requirements of the Securities Act, it being understood that to the extent any such exemption is claimed, the Optionee shall, prior to any offer for sale or sale of such shares, obtain a prior favorable written opinion, in form and substance satisfactory to the Committee, from counsel for or approved by the Committee, as to the applicability of such exemption thereto.  
4.    Optionee Bound by Plan.  The Optionee hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all of the terms and provisions thereof, including the terms and provisions adopted after the granting of the Option but prior to the complete exercise hereof.
5.    Authorization to Share Personal Data. The Optionee authorizes any Affiliate of the Company that employs the Optionee or that otherwise has or lawfully obtains personal data relating to the Optionee to divulge or transfer such personal data to the Company or to a third party, in each case in any jurisdiction, if and to the extent appropriate in connection with this Agreement or the administration of the Plan.
5.    Notices.  All notices and other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been given if delivered personally or sent by certified or express mail, return receipt requested, postage prepaid, or by any recognized international equivalent of such delivery, to the Company or the Optionee, as the case may be, at the following addresses or to such other address as the Company or the Optionee, as the case may be, shall specify by notice to the other:
(i)    if to the Company, to it at:
EMCORE Corporation
2015 Chestnut Street
Alhambra, CA 91803
Attention: General Counsel

(ii)    if to the Optionee, to the Optionee at his most recent address as shown on the books and records of the Company or Subsidiary employing the Optionee.
All such notices and communications shall be deemed to have been received on the date of delivery if delivered personally or on the third business day after the mailing thereof.
6.    Governing Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of New Jersey applicable to contracts executed and to be performed entirely within such state, without regard to the conflict of law provisions thereof.
7.    Binding Effect; Benefits.  This Agreement shall be binding upon and inure to the benefit of the parties to this Agreement and their respective successors and assigns.  Nothing in this Agreement, express or implied, is intended or shall be construed to give any person other than the parties to this Agreement or their respective successors or assigns any legal or equitable right, remedy or claim under or in respect of any agreement or any provision contained herein.
8.    Assignability.  Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable by the Company or the Optionee without the prior written consent of the other party.

9.    Amendment.  This Agreement may be amended from time to time by the Committee in its discretion; provided, however, that this Agreement may not be modified in a manner that would have a materially adverse effect on the Options as determined in the discretion of the Committee, except as provided in the Plan, or in any other written document signed by the Optionee and the Company.  This Agreement may not be amended, modified or supplemented orally.  
10.    Interpretation.  The Committee shall have full power and discretion to construe and interpret the Plan (and any rules and regulations issued thereunder) and this Option.  Any determination or interpretation by the Committee under or pursuant to the Plan or this Option shall be final and binding and conclusive on all persons affected hereby.
11.    Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation.  By entering into this Agreement and accepting the Options evidenced hereby, the Optionee acknowledges: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the Option does not create any contractual or other right to receive future grants of Options; (c) that participation in the Plan is voluntary; (d) that the value of the Options is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; and (e) that the future value of the Stock is unknown and cannot be predicted with certainty.
12.    Consent to Electronic Delivery.  By entering into this Agreement and accepting the Options evidenced hereby, the Optionee hereby consents to the delivery of information (including, without limitation, information required to be delivered to the Optionee pursuant to applicable securities laws) regarding the Company and the Subsidiaries, the Plan, this Agreement and the Options via Company web site or other electronic delivery.
13.    Company Rights.  The existence of the Options does not affect in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, including that of its Affiliates, or any merger or consolidation of the Company or any Affiliate, or any issue of bonds, debentures, preferred or other stocks with preference ahead of or convertible into, or otherwise affecting the Stock or the rights thereof, or the dissolution or liquidation of the Company or any Affiliate, or any sale or transfer of all or any part of the Company’s or any Affiliate’s assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.
14.    Severability.  If a court of competent jurisdiction determines that any portion of this Agreement is in violation of any statute or public policy, then only the portions of this Agreement which violate such statute or public policy shall be stricken, and all portions of this Agreement which do not violate any statute or public policy shall continue in full force and effect.  Further, it is the parties’ intent that any court order striking any portion of this Agreement should modify the terms as narrowly as possible to give as much effect as possible to the intentions of the parties’ under this Agreement.
15.    Further Assurances.  The Optionee agrees to use his reasonable and diligent best efforts to proceed promptly with the transactions contemplated herein, to fulfill the conditions precedent for the Optionee’s benefit or to cause the same to be fulfilled and to execute such further documents and other papers and perform such further acts as may be reasonably required or desirable to carry out the provisions hereof and the transactions contemplated herein.  The Company may require the Optionee to furnish or execute such other documents as the Company shall reasonably deem necessary (i) to evidence such exercise or (ii) to comply with or satisfy the requirements of the Securities Act, applicable state or non U.S. securities laws or any other law.  The Committee may require Optionee to give prompt notice to the Company concerning any disposition of shares of Stock received upon the exercise of an incentive stock option within: (i) two (2) years from the date of granting such incentive stock option to such Optionee or (ii) one (1) year from the transfer of such shares of Stock to Optionee or (iii) such other period as the Committee may from time to time determine. 
16.    Section and Other Headings, etc.  The section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.
17.    Entire Agreement.  This Agreement, inclusive of the Plan incorporated into this Agreement, contains the entire agreement between you and the Company with respect to the Options.  Any and all existing oral or written agreements, representations, warranties, written inducements, or other communications made prior to the execution of this Agreement by any person with respect to the Options are superseded by this Agreement and are void and ineffective for all purposes.
18.    Counterparts.  This Agreement has been executed in two counterparts, each of which shall constitute one and the same instrument.
[Signature page follows]

IN WITNESS WHEREOF, EMCORE Corporation has caused this Agreement to be executed by a duly authorized officer and the Optionee has executed this Agreement, both as of the day and year first above written.
EMCORE CORPORATION
By:                            
Date:                                                        

Date:     ________________________                            
Name
Address:                      
                                
                                
Schedule I

NOTATIONS AS TO PARTIAL EXERCISE

	
					
	Date of Exercise
	Number of Share of Stock Purchased
	Balance of Shares of Stock on Option
	Authorized Signature
	Notation DateExhibit

Exhibit 10.9

EMCORE Corporation 2012 Equity Incentive Plan

Restricted Stock Unit Award Agreement

To:  []

EMCORE Corporation, a New Jersey corporation (the “Company”), has granted you an award (the “Award”) of [] restricted stock units (the “Restricted Stock Units”) under the EMCORE Corporation 2012 Equity Incentive Plan, as adopted effective January 25, 2012, and as further amended from time to time (the “Plan”), conditioned upon your agreement to the terms and conditions described below.  Each Restricted Stock Unit represents, on the books of the Company, a unit which is equivalent to one share of the Company’s common stock, no par value per share (the “Common Stock”).  The effective “Grant Date” will be [], subject to your promptly signing and returning a copy of this Agreement (as defined below) to the Company. 

This Restricted Stock Unit Award Agreement (the “Agreement”) evidences the Award of the Restricted Stock Units.  This Agreement and the Award of the Restricted Stock Units are made in consideration of your employment or service relationship with the Company or an Affiliate of the Company (as applicable, your “Employer”).  The Award is subject in all respects to and incorporates by reference the terms and conditions of the Plan and any terms and conditions relating to Restricted Stock Units and specifies other applicable terms and conditions of your Restricted Stock Units.  
A copy of the Plan and the Prospectus for the Plan, as amended from time to time (the “Prospectus”), is attached. By executing this Agreement, you acknowledge that you have received a copy of the Plan and the Prospectus.  You may request additional copies of the Plan or Prospectus by contacting EMCORE Corporation, Attn: Chief Financial Officer, 2015 West Chestnut Street, Alhambra, CA 91803.  You also may request from the Secretary of the Company copies of the other documents that make up a part of the Prospectus (described more fully at the end of the Prospectus), as well as all reports, proxy statements and other communications distributed to the Company’s security holders generally.     
1.    Terminology; Conflicts.  The Glossary at the end of this Agreement includes definitions of capitalized words used in this Agreement.  All terms not defined in this Agreement (including the Glossary) have the meanings given in the Plan.  Unless otherwise specifically provided in this Agreement, in the event of any conflict, ambiguity or inconsistency between or among any defined term in this Agreement or the Plan, the provisions of, first, the Plan and second, this Agreement, will control in that order of priority, except in the case of Section 13 of this Agreement, which will control in all cases. 
2.    Terms and Conditions of Award.  The following terms and conditions will apply:

(a)Vesting.  Your Restricted Stock Units shall be subject to the forfeiture and vesting provisions marked with an [X] below:

		
	i.
	[ ]    All of the Restricted Stock Units are nonvested and forfeitable as of the Grant Date.  So long as you continue to be a Service Provider through the applicable date upon which vesting is scheduled to occur, 33.33% of the Restricted Stock Units will vest and become nonforfeitable on each anniversary of the Grant Date, such that 100% of the Restricted Stock Units will be vested and nonforfeitable on the 3rd anniversary of the Grant Date.  None of the Restricted Stock Units will become vested and nonforfeitable after you cease to be a Service Provider unless this Agreement provides to the contrary.

		
	ii.
	[  ]    All of the Restricted Stock Units are nonvested and forfeitable as of the Grant Date.  So long as you continue to be a Service Provider through the applicable date upon which vesting is scheduled to occur, __% of the Restricted Stock Units will vest and become nonforfeitable on the __ year anniversary of the Grant Date, and the remaining __% of the Restricted Stock Units will vest and become nonforfeitable on the __ year anniversary of the Grant Date.  None of the Restricted Stock Units will become vested and nonforfeitable after you cease to be a Service Provider unless this Agreement provides to the contrary.

		
	iii.
	[  ]    All of the Restricted Stock Units are nonvested and forfeitable as of the Grant Date.  So long as you continue to be a Service Provider through _______________________, _____ (the “Vesting Date”), all of your Restricted Stock Units will vest and become nonforfeitable on the Vesting Date.  None of the Restricted Stock Units will become vested and nonforfeitable after you cease to be a Service Provider unless this Agreement provides to the contrary.

		
	iv.
	[  ]       Your Restricted Stock Units are nonvested and forfeitable as of the Grant Date.  So long as you continue to be a Service Provider through the Certification Date, and subject to the applicable Performance Objectives being achieved during the Performance Period, your Restricted Stock Units will vest and become nonforfeitable on the Certification Date.  None of the Restricted Stock Units will become vested and nonforfeitable after you cease to be a Service Provider unless this Agreement provides to the contrary.  

Not later than 60 days after the end of the Performance Period, the Committee shall certify, in writing, whether or not, the Performance Objectives have been achieved.  The date on which the Committee makes such certifications is referred to herein as the “Certification Date”.  If the Committee certifies on the Certification Date that the Performance Objectives have not been achieved, all Restricted Stock Units shall be immediately forfeited for no consideration.
For purposes of this Agreement, the “Performance Period” shall be a period beginning on _______ and ending on ________.
For purposes of this Agreement, the “Performance Objectives” are as follows: __________________________________________________________________________

		
	v.
	[  ]     ______________________________________________________________________________________________________________________________________________________

(b)Change in Control.  Your Restricted Stock Units shall be subject to the provisions marked with an [X] below in the event of a Change in Control.

		
	i.
	[X ]    Subject to Article XV of the Plan, a Change in Control shall have no effect on the vesting of the Restricted Stock Units or the lapsing of the Restriction Period.

		
	ii.
	[   ]    Notwithstanding Section 15.2 of the Plan, all outstanding Restricted Stock Units will become fully vested and nonforfeitable upon the occurrence of a Change in Control (such vesting will be deemed to occur immediately before such Change in Control).

		
	iii.
	[  ]    ______________________________________________________________________________________________________________________________________________________

Notwithstanding the above, the Administrator (as constituted immediately prior to the Change in Control) may determine that all then-outstanding Restricted Stock Units shall be canceled in exchange for a payment having a value equal to the product of the price at which a Change in Control occurs multiplied by the aggregate number of shares covered by all such Restricted Stock Units.

Furthermore, notwithstanding the preceding, no cancellation, acceleration of vesting, or settlement or other payment shall occur with respect to the Restricted Stock Units if the Administrator (as constituted immediately prior to the Change in Control) reasonably determines, in good faith, prior to the Change in Control that the Restricted Stock Units shall be honored or assumed or new rights substituted therefor by an Alternative Award, in accordance with the terms of Section 8.2 of the Plan.

(c)Termination of Service.  If you cease to be a Service Provider for any reason other than (i) your death or (ii) your Disability, all Restricted Stock Units that are not then vested and nonforfeitable will be immediately forfeited for no consideration.  

(d)Acceleration of Vesting Upon Termination of Service Due to Death.  In the event of your death, your Restricted Stock Units shall be subject to the provisions marked with an [X] below:

		
	i.
	[ ] Your estate shall retain a portion of your Restricted Stock Units equal to the number of Restricted Stock Units that are not then vested and nonforfeitable multiplied by a fraction, the numerator of which is the number of days elapsed from the commencement of the applicable Restriction Period through the date of death, and the denominator of which is the number of days in such Restriction Period (each a “Retained Restricted Award”), and the remainder of each Award shall be forfeited and canceled as of the date of death.  The Restriction Period on a Retained Restricted Award shall lapse upon your termination of employment or service relationship as a result of your death (i.e., the Retained Restricted Award shall become fully vested and nonforfeitable on such date).

		
	ii.
	[ ] Your estate shall retain a portion of your Restricted Stock Units equal to the number of Restricted Stock Units that are not then vested and nonforfeitable multiplied by a fraction, the numerator of which is the number of days elapsed from the commencement of the applicable Performance Period through the date of death, and the denominator of which is the number of days in such Performance Period (each a “Retained Restricted Award”), and the remainder of each Award shall be forfeited and canceled as of the date of death.  The Restriction Period on a Retained Restricted Award shall lapse upon the Certification Date to the extent that the applicable Performance Objectives are achieved.

		
	i.
	[ X ] At discretion of Administrator. _________________________________________

(e)Acceleration of Vesting Upon Termination of Service Due to Disability.    If you cease to be a Service Provider by reason of your Disability, your Restricted Stock Units shall be subject to the provisions marked with an [X] below:

		
	i.
	[ ] You shall retain a portion of your Restricted Stock Units that are not then vested and nonforfeitable multiplied by a fraction, the numerator of which is the number of days elapsed from the commencement of the applicable Restriction Period through your termination of employment or service relationship, and the denominator of which is the number of days in such Restriction Period  (each a “Retained Restricted Award”), and the remainder of each Award shall be forfeited and canceled as of the date of such termination.  The Restriction Period on a Retained Restricted Award shall lapse upon your termination of employment or service relationship as a result of your Disability (i.e., the Retained Restricted Award shall become fully vested and nonforfeitable on such date). 

		
	ii.
	[ ] You shall retain a portion of your Restricted Stock Units that are not then vested and nonforfeitable multiplied by a fraction, the numerator of which is the number of days elapsed from the commencement of the applicable Performance Period through your termination of employment or service relationship, and the denominator of which is the number of days in such Performance Period (each a “Retained Restricted Award”), and the remainder of each Award shall be forfeited and canceled as of the date of such termination.  The Restriction Period on a Retained Restricted Award shall lapse upon the Certification Date to the extent that the applicable Performance Objectives are achieved. 

		
	iii.
	[ X ] At discretion of Administrator. _____________________________________________ 

(f)Settlement.  Subject to other applicable provisions of this Agreement, not later than 30 days after the lapse of the Restriction Period with respect to any Restricted Stock Units, the Company shall issue to you (or, if applicable, your executor, administrator, legally authorized guardian or personal representative) one share of Common Stock underlying each Restricted Stock Unit as to which the Restriction Period has lapsed, or, if the Administrator so determines in its sole discretion, an amount in cash equal to the Fair Market Value of such shares of Common Stock or any combination of shares of Common Stock and cash having an aggregate Fair Market Value equal to such shares of Common Stock.  Upon issuance, such shares of Common Stock may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated in compliance with Applicable Law, this Agreement and any other agreement to which such shares are subject.  Your settlement rights pursuant to this Agreement shall be no greater than the right of any unsecured general creditor of the Company.  The Company will not be required to issue fractional shares of Common Stock upon settlement of the Restricted Stock Units.

3.    Restrictions on Transfer.  You may not sell, assign, transfer, pledge, hedge, hypothecate, encumber or dispose of in any way (whether by operation of law or otherwise) any Restricted Stock Units, and Restricted Stock Units may not be subject to execution, attachment or similar process.  Any sale or transfer, or purported sale or transfer, shall be null and void.  The Company will not be required to recognize on its books any action taken in contravention of these restrictions.

4.    Issuance of Shares.  

(a)    Notwithstanding any other provision of this Agreement, you may not sell the shares of Common Stock acquired upon vesting of the Restricted Stock Units unless such shares are registered under the Securities Act of 1933, as amended (the “Securities Act”), or, if such shares are not then so registered, such sale would be exempt from the registration requirements of the Securities Act.  The sale of such shares must also comply with other Applicable Law governing the Common Stock and you may not sell the shares of Common Stock if the Company determines that such sale would not be in material compliance with such Applicable Law.  

(b)    The shares of Common Stock issued in settlement of the Restricted Stock Units shall be registered in your name.  The Company will deliver a share certificate to you, or deliver shares electronically or in certificate form to your designated broker on your behalf.  If you are deceased (or in case of your Disability and if necessary) at the time that a delivery of share certificates is to be made, the certificates will be delivered to your executor, administrator, legally authorized guardian or personal representative.  The Company may at any time place legends referencing any Applicable Law restrictions on all certificates representing shares of Common Stock issued pursuant to this Agreement, and the certificate shall bear such restrictive legends or restrictions as the Company, in its sole discretion, shall require.  You will, at the request of the Company, promptly present to the Company any and all certificates representing shares acquired pursuant to this Agreement in your possession in order to carry out the provisions of this Section 4(b).

(c)    The grant of the Restricted Stock Units and the shares of Common Stock issued in settlement of the Restricted Stock Units will be subject to and in compliance with all applicable requirements of Applicable Law with respect to such securities.  No shares of Common Stock may be issued hereunder if the issuance of such shares would constitute a violation of any Applicable Law.  The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance of any shares subject to the Restricted Stock Units shall relieve the Company of any liability in respect of the failure to issue such shares as to which such requisite authority shall not have been obtained.  As a condition to the settlement of the Restricted Stock Units, the Company may require you to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any Applicable Law and to make any representation or warranty with respect thereto as may be requested by the Company.

(d)     Postponement of Delivery.  The Company may postpone the issuance and delivery of any shares of Common Stock provided for under this Agreement for so long as the Company determines to be necessary or advisable to satisfy the following:

		
	i.
	the completion or amendment of any registration of such shares or satisfaction of any exemption from registration under any Applicable Law; 

		
	ii.
	compliance with any requests for representations; and

		
	iii.
	receipt of proof satisfactory to the Company that a person seeking such shares on your behalf upon your Disability (if necessary), or upon your estate’s behalf after your death, is appropriately authorized.

5.    Tax Withholding.  By signing this Agreement, you authorize your Employer and the Company, except as provided below, to deduct from any compensation or any other payment of any kind due you the amount of any federal, state, local or foreign taxes required by law to be withheld as a result of the grant or vesting of the Restricted Stock Units in whole or in part.  The Company may, in its discretion, agree that it will, upon your request, permit you to satisfy, in whole or in part, the Company’s minimum statutory withholding tax obligation (based on minimum rates for federal and state law purposes, including payroll taxes) which may arise in connection with the Award either by electing to have the Company withhold the issuance of, or redeem, shares of Common Stock or by electing to deliver to the Company already-owned shares of Common Stock of the Company, in either case having a Fair Market Value equal to the amount necessary to satisfy the statutory minimum withholding amount due.  In lieu of the foregoing, the Company may require you to make a cash payment to such Employer or the Company equal to the amount required to be withheld.  If you do not make provision for the payment of such taxes when requested, the Company may refuse to issue any Common Stock certificate under this Agreement until arrangements satisfactory to the Administrator for such payment have been made.

6.    Adjustments for Corporate Transactions and Other Events.

(a)    Adjustment Events.  Upon an Adjustment Event, the number of Restricted Stock Units and the number of such Restricted Stock Units that are nonvested and forfeitable will, without further action of the Administrator, be adjusted to reflect such event.  The Administrator may make adjustments, in its discretion, to address the treatment of fractional shares with respect to the Restricted Stock Units as a result of the Adjustment Event.  Adjustments under this Section 6 will be made by the Administrator, whose determination as to what adjustments, if any, will be made and the extent thereof will be final, binding and conclusive.  No fractional Restricted Stock Units will result from any such adjustments.  Any such adjustment shall be consistent with section 162(m) of the Code to the extent the Restricted Stock Units are subject to such section of the Code.

(b)    Binding Nature of Agreement.  The terms and conditions of this Agreement will apply with equal force to any additional and/or substitute securities received by you in exchange for, or by virtue of your granting of, the Restricted Stock Units, whether as a result of any Adjustment Event or other similar event, except as otherwise determined by the Administrator.  If the Restricted Stock Units are converted into or exchanged for, or stockholders of the Company receive by reason of any distribution in total or partial liquidation or pursuant to any merger of the Company or acquisition of its assets, securities of another entity, or other property (including cash), then the rights of the Company under this Agreement will inure to the benefit of the Company’s successor, and this Agreement will apply to the securities or other property received upon such conversion, exchange or distribution in the same manner and to the same extent as the Restricted Stock Units.

7.    No Right to Continued Employment or Service.  The Award shall not confer upon you any right to be retained as a Service Provider, nor restrict in any way the right of your Employer, which right is hereby expressly reserved, to terminate your employment or service relationship at any time with or without Cause (regardless of whether such termination results in (a) the failure of any Award to vest; (b) the forfeiture of any unvested or vested portion of any Award; and/or (c) any other adverse effect on your interests under the Plan).  Nothing in the Plan or this Agreement shall confer on you the right to receive any future Awards under the Plan.

8.    No Rights as Stockholder.  You shall not have any rights as a stockholder of the Company with respect to any shares of Common Stock corresponding to the Restricted Stock Units granted hereby unless and until shares of Common Stock are issued to you in respect thereof.  No adjustment shall be made for dividends, distributions or other rights for which the record date is prior to the date such certificate or certificates are issued, except as provided in Section 6 of this Agreement.

9.    The Company’s Rights.  The existence of the Restricted Stock Units does not affect in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, including that of its Affiliates, or any merger or consolidation of the Company or any Affiliate, or any issue of bonds, debentures, preferred or other stocks with preference ahead of or convertible into, or otherwise affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the Company or any Affiliate, or any sale or transfer of all or any part of the Company’s or any Affiliate’s assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

10.    Entire Agreement.  This Agreement, inclusive of the Plan incorporated into this Agreement, contains the entire agreement between you, your Employer and the Company with respect to the Restricted Stock Units.  Any and all existing oral or written agreements, representations, warranties, written inducements, or other communications made prior to the execution of this Agreement by any person with respect to the Award or the Restricted Stock Units are superseded by this Agreement and are void and ineffective for all purposes.

11.    Conformity with Plan.  This Agreement is intended to conform in all respects with, and is subject to all applicable provisions of, the Plan.  In the event of any ambiguity in this Agreement or any matters as to which this Agreement is silent, the Plan will govern.

12.    Amendment.  This Agreement may be amended from time to time by the Administrator in its discretion; provided, however, that this Agreement may not be modified in a manner that would have a materially adverse effect on the Restricted Stock Units as determined in the discretion of the Administrator, except as provided in the Plan or in any other written document signed by you and the Company.  This Agreement may not be amended, modified or supplemented orally.

13.    Governing Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of New Jersey applicable to contracts executed and to be performed entirely within such state, without regard to the conflict of law provisions thereof.

14.    Severability.  If a court of competent jurisdiction determines that any portion of this Agreement is in violation of any statute or public policy, then only the portions of this Agreement which violate such statute or public policy shall be stricken, and all portions of this Agreement which do not violate any statute or public policy shall continue in full force and effect.  Further, it is the parties’ intent that any court order striking any portion of this Agreement should modify the terms as narrowly as possible to give as much effect as possible to the intentions of the parties’ under this Agreement.

15.    Further Assurances.  You agree to use your reasonable and diligent best efforts to proceed promptly with the transactions contemplated herein, to fulfill the conditions precedent for your benefit or to cause the same to be fulfilled and to execute such further documents and other papers and perform such further acts as may be reasonably required or desirable to carry out the provisions hereof and the transactions contemplated herein.  The Company may require you to furnish or execute such other documents as the Company shall reasonably deem necessary (a) to evidence such exercise or (b) to comply with or satisfy the requirements of Applicable Law.

16.    Investment Representation.  If at the time of settlement of all or part of the Restricted Stock Units, the Common Stock is not registered under the Securities Act and/or there is no current prospectus in effect under the Securities Act with respect to the Common Stock, you shall execute, prior to the issuance of any shares of Common Stock in settlement of the Restricted Stock Units to you by the Company, an agreement (in such form as the Administrator may specify) in which you, among other things, represent, warrant and agree that you are acquiring the shares acquired under this Agreement for your own account, for investment only and not with a view to the resale or distribution thereof, that you have knowledge and experience in financial and business matters, that you are capable of evaluating the merits and risks of owning any shares of Common Stock acquired under this Agreement, that you are a person who is able to bear the economic risk of such ownership and that any subsequent offer for sale or distribution of any of such shares shall be made only pursuant to (a) a registration statement on an appropriate form under the Securities Act, which registration statement has become effective and is current with regard to the shares being offered or sold, or (b) a specific exemption from the registration requirements of the Securities Act, it being understood that to the extent any such exemption is claimed, you shall, prior to any offer for sale or sale of such shares, obtain a prior favorable written opinion, in form and substance satisfactory to the Administrator, from counsel for or approved by the Administrator, as to the applicability of such exemption thereto.  

17.    Headings.  Section headings are used in this Agreement for convenience of reference only and shall not affect the meaning of any provision of this Agreement.

18.    Binding Effect; Benefits.  This Agreement shall be binding upon and inure to the benefit of the parties to this Agreement and their respective successors and assigns.  Nothing in this Agreement, express or implied, is intended or shall be construed to give any person other than the parties to this Agreement or their respective successors or assigns any legal or equitable right, remedy or claim under or in respect of any agreement or any provision contained herein.

19.    Assignability.  Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable by the Company or you without the prior written consent of the other party.

20.    Interpretation.  The Administrator shall have full power and discretion to construe and interpret the Plan (and any rules and regulations issued thereunder) and this Award.  Any determination or interpretation by the Administrator under or pursuant to the Plan or this Award shall be final and binding and conclusive on all persons affected hereby.

21.    Authorization to Share Personal Data. You authorize any Affiliate of the Company that employs or retains you or that otherwise has or lawfully obtains personal data relating to you to divulge or transfer such personal data to the Company or to a third party, in each case in any jurisdiction, if and to the extent appropriate in connection with this Agreement or the administration of the Plan.

22.    Notices.  All notices and other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been given if delivered personally or sent by certified or express mail, return receipt requested, postage prepaid, or by any recognized international equivalent of such delivery, to the Company or you, as the case may be, at the following addresses or to such other address as the Company or you, as the case may be, shall specify by notice to the other:

(i)    if to the Company, to it at:
EMCORE Corporation
2015 Chestnut Street
Alhambra, CA 91803
Attention: Chief Financial Officer
Fax: (626) 293-3424

(ii)    if to you, to your most recent address as shown on the books and records of the Company or Affiliate employing or retaining you.

All such notices and communications shall be deemed to have been received on the date of delivery if delivered personally or on the third business day after the mailing thereof.

23.    Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation.  By entering into this Agreement and accepting the Awards evidenced hereby, you acknowledge: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the Award does not create any contractual or other right to receive future grants of Awards; (c) that participation in the Plan is voluntary; (d) that the value of the Awards is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; and (e) that the future value of the Common Stock is unknown and cannot be predicted with certainty.

24.    Consent to Electronic Delivery.  By entering into this Agreement and accepting the Award evidenced hereby, you hereby consent to the delivery of information (including, without limitation, information required to be delivered to you pursuant to Applicable Law) regarding the Company and its Affiliates, the Plan, this Agreement and the Award via Company web site or other electronic delivery.

25.    Counterparts.  This Agreement may be executed in counterparts (including electronic signatures or facsimile copies), each of which will be deemed an original, but all of which together will constitute the same instrument. 

{The Glossary follows on the next page.}

GLOSSARY

(a)    “Restriction Period” means the period beginning on the Grant Date (or if applicable for purposes of determining the Retained Restricted Award under Sections 2(d) and 2(e), the most recent vesting date preceding your termination of employment or service relationship due to death or Disability) and ending on the date on which all of your Restricted Stock Units vest and become nonforfeitable. 

(b)    “Securities Act” means the Securities Act of 1933 and the rules promulgated thereunder, as amended. 

(c)    “You”; “Your”.  You means the recipient of the Restricted Stock Units as reflected in the first paragraph of this Agreement.  Whenever the word “you” or “your” is used in any provision of this Agreement under circumstances where the provision should logically be construed, as determined by the Administrator, to apply to the estate, personal representative, or beneficiary to whom the Restricted Stock Units may be transferred by will or by the laws of descent and distribution, the words “you” and “your” will be deemed to include such person.

{The signature page follows.}

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer as of March 24, 2015.

EMCORE CORPORATION
By:                            
Date:                                                        
                                                 
The undersigned hereby represents that he/she has read the Prospectus and is familiar with the Plan’s terms.  The undersigned hereby acknowledges that he/she has carefully read this Agreement and agrees, on behalf of himself/herself and on behalf of his/her beneficiaries, estate and permitted assigns, to be bound by all of the provisions set forth herein, and that the Award and Restricted Stock Units are subject to all of the terms and provisions of this Agreement, and of the Plan under which it is granted, as the Plan may be amended in accordance with their respective terms.  The undersigned agrees to accept as binding, conclusive, and final all decisions or interpretations of the Administrator concerning any questions arising under this Agreement or the Plan with respect to the Award or Restricted Stock Units.

WITNESS    AWARD RECIPIENT
                                

Date:

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