Document:

Form of Offer Letter dated July 16, 2004

 Exhibit 10.3 
  
 FORM OF OFFER LETTER 
  
 July 16, 2004 
  
 [NAME] 
 [ADDRESS1] 
 [ADDRESS2]

  

	Re:	Employment with Newport Corporation 

  
 Dear [NAME]: 
  
 In connection with the acquisition by Newport Corporation (“Newport”) of Spectra-Physics, Inc., I am very pleased to extend to you an offer of employment with Newport Corporation on the terms outlined below.
This offer of employment is conditioned upon the consummation of the transaction, and your employment with Newport will commence effective as of the closing date of the transaction. This offer supersedes and replaces the offer letter dated June 29,
2004. 
  
 The terms of your employment will be as follows: 
  

	1.	Position. You will be employed as
[                                ], or such other position as may be determined by
Newport’s Board of Directors, and shall faithfully and diligently perform all duties and responsibilities required of such position or assigned by Newport from time to time. 

  

	2.	Salary. Your annualized base salary will be $[                ], payable on a bi-weekly
basis. Your salary will be reviewed on an annual basis in conjunction with Newport’s annual merit review process. 

  

	3.	Bonus. The existing 2004 Spectra-Physics bonus plan for executives will be terminated as of the closing date of the transaction, and your bonus under that plan will be
payable in March 2005, provided that you are still employed by Newport on the payment date. Following the closing date of the transaction, you will be eligible to participate in Newport’s Annual Incentive Plan. Under the plan, an annual bonus
will be payable to you based upon continued employment for the entire plan year and the extent to which Newport determines you have achieved company and individual goals as determined by management at the beginning of each year. Your target bonus
under the Newport Annual Incentive Plan will be [                 percent (    %)] of your annual base salary, with a potential to
receive payment of up to two times this target bonus amount for overachievement of goals. 

  

	4.	Stock Option Grant. On the closing date of the transaction, you will be granted a nonqualified option to purchase
[                ] shares of Newport common stock, in accordance with Newport’s 2001 Stock Incentive Plan and a stock option agreement to be executed at the
time of issuance of the options. Such option will vest at the rate of 25% on each of the first four anniversaries of the grant date. 

  

	5.	Restricted Stock Grant or Additional Options. As a special retention incentive, on the closing date of the transaction, you will be granted
[                ] restricted shares of Newport common stock, in accordance with Newport’s 2001 Stock Incentive Plan and a restricted stock agreement to be
executed at the time of issuance of the restricted shares. Such shares will vest in full on the second anniversary of the grant date. In lieu of such restricted shares, you may elect to receive a grant of an additional nonqualified option to
purchase [                ] shares of Newport common stock pursuant to Newport’s 2001 Stock Incentive Plan. Such option shall vest in full on the second
anniversary of the grant date. Please initial next to your selection on the last page of this letter agreement. 

 [NAME] 
 July 16, 2004

 Page 2 
  

	6.	Benefits. 

  

	 	(a)	Employee Benefit Plans. You will be eligible to participate in such group medical, dental, vision, life and disability insurance and other benefit plans (including
Newport’s 401(k) Plan and Employee Stock Purchase Plan) as Newport may offer from time to time for personnel of comparable stature at the location of your employment, in accordance with the provisions of such plans. You will accrue vacation pay
and sick pay at a rate consistent with, and subject to the terms and conditions of, Newport’s policy for employees with similar years of service. For purposes of determining your eligibility for any seniority-based benefits under such plans,
Newport will credit you with your current length of service credited by Spectra-Physics (including service with predecessor or affiliated companies). You will retain your current vacation accrual balance, but may cease accruing additional vacation
until such time as you have used or cashed out sufficient vacation days to bring your accrual balance below the maximum level applicable to you. Nothing in this letter agreement shall impair Newport’s right to amend, modify, replace, and
terminate any and all such plans in its sole discretion as provided by law, or to terminate this letter agreement in accordance with its terms. This letter agreement is for the sole benefit of you and Newport, and is not intended to create an
employee benefit plan or to modify the terms of existing plans. 

  

	 	(b)	Supplemental Long-Term Disability. For a minimum of one (1) year following the closing date of the transaction, Newport will continue to pay the cost of your existing
supplemental long-term disability insurance coverage. Following such period, Newport will determine whether to continue such coverage or replace it with Newport’s standard supplemental long-term disability insurance coverage for executives.

  

	 	(c)	Deferred Compensation Plan. You will be eligible to participate in Newport’s Deferred Compensation Plan, pursuant to which you may defer (i) up to 100% of your annual
base salary and/or bonus and (ii) 100% of your restricted stock prior to the vesting thereof (less certain withholding and deduction amounts as described in the plan). 

  

	 	(d)	Executive Physical. You will be entitled to receive a comprehensive physical examination on an annual basis. The evaluation includes an extensive evaluation of your current
health and risk assessment of developing diseases in the future. 

  

	7.	Severance Compensation. 

  

	 	(a)	Severance Payments. During the first two years of your employment with Newport, if you resign for “good reason” or your employment is terminated by Newport for
reasons other than for “cause” or your death or “disability” (as such terms are defined in subparagraphs (b), (c) and (d) below), you will be eligible for the following severance pay and benefits: 

  

	 	(i)	an amount equal to your prorated monthly base salary in effect immediately prior to your termination date multiplied by twelve (12), which will be payable in a lump sum on
your termination date; 

 [NAME] 
 July 16, 2004

 Page 3 
  

	 	(ii)	an amount equal to your target bonus payable under Newport’s Annual Incentive Plan for the calendar year in which your employment is terminated assuming one hundred
percent (100%) satisfaction of all performance goals, which will be payable in a lump sum on your termination date; 

  

	 	(iii)	acceleration of vesting of any unvested restricted shares of Newport common stock held by you; 

  

	 	(iv)	continued payment for a period of twenty-four (24) months of all premiums for any medical, dental, vision and long term disability insurance benefits which you elect to
continue under COBRA; provided, however, that such payments shall terminate at such time as you become eligible for similar benefits from any subsequent employer; and 

  

	 	(v)	an executive outplacement program with an outplacement firm selected by Newport, paid for by Newport. 

  

	 	(b)	Definition of “for cause”. For the purposes of this letter agreement, your employment will be deemed to have been terminated by Newport “for cause” if it
is terminated for any of the following reasons: (i) you commit any material misconduct or willful breach of your duties, including without limitation any act involving dishonesty, breach of loyalty to Newport or any of its subsidiaries or
affiliates, or recklessness or gross negligence by you in the performance of your duties; (ii) you commit any material violation of any policy or procedure of Newport or any of its subsidiaries or affiliates; or (iii) you engage in poor performance
or commit any habitual neglect of your duties which is not cured within 30 days after your receipt of notice from Newport specifying the items of poor performance or habitual neglect. In any of these events, you will not receive any of the severance
payments set forth in subparagraph (a) above, and Newport’s sole obligation to you shall be to pay all compensation owing for services rendered by you prior to your receipt of notice of termination. 

  

	 	(c)	Definition of “good reason”. For the purposes of this letter agreement, your employment will be deemed to have been terminated by you for “good reason” if
you resign because any of the following conditions continues to exist without your consent after you have given Newport written notice of the condition and allowed a reasonable opportunity of time in which to cure the condition(s): (i) Newport
materially reduces your position, duties and responsibilities; (ii) Newport reduces your base salary as in effect on the closing date of transaction or as the same may be increased from time to time during your employment, other than a reduction
generally applicable to other comparably situated employees for economic reasons; (iii) Newport materially reduces the total package of benefits and perquisites (taken as a whole) extended to you as described herein other than a reduction generally
applicable to other comparably situated employees for economic reasons; (iv) your primary place of employment is moved more than thirty (30) miles from Mountain View, California; or (v) Newport breaches any material provision of this letter
agreement. 

  

	 	(d)	Definition of “disability”. For purposes of this Agreement, “disability” shall mean your failure or inability to perform the essential functions of your
position safely and efficiently, with reasonable accommodation as required by law, for any period of 90 consecutive days or 120 days in the aggregate during any twelve month period, due to any physical or mental disability. 

 [NAME] 
 July 16, 2004

 Page 4 
  

	 	(e)	Release. Newport’s obligation to provide any of the severance amounts and benefits described in this paragraph 7 shall be subject to, and conditioned upon, your
execution of a full release of claims satisfactory to Newport releasing Newport and its subsidiaries, and their respective employees and agents, from any claims arising from or related to your employment or termination of employment, including any
claims arising from this letter agreement. 

  

	8.	Change in Control. During the first two years of your employment with Newport, if you resign for “good reason” or your employment is terminated by Newport for
reasons other than for “cause” or your death or “disability” (as such terms are defined in paragraph 7 above) following a “Change in Control” (as defined below) of Newport, in addition to the severance benefits provided
under paragraph 7, all options to purchase Newport common stock then held by you shall automatically vest and become immediately exercisable in accordance with the terms thereof. For purposes of this Agreement, a “Change in Control” of
Newport shall be deemed to have occurred if: 

  

	 	(a)	there shall be consummated any consolidation or merger of Newport in which Newport is not the continuing or surviving corporation or pursuant to which shares of
Newport’s outstanding voting securities would be converted into cash, securities or other property (other than a merger of Newport in which the holders of Newport’s outstanding voting securities immediately prior to the merger have the
same proportionate ownership of at least eighty percent (80%) of the outstanding voting securities of the surviving corporation immediately after the merger); or 

  

	 	(b)	there shall be consummated any consolidation or merger of Newport in which Newport is the surviving corporation, but the holders of Newport’s outstanding voting
securities immediately prior to such merger or consolidation hold, in the aggregate, securities possessing less than fifty percent (50%) of the total combined voting power of all outstanding voting securities of Newport immediately after such merger
or consolidation; or 

  

	 	(c)	there shall be consummated any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or substantially all, of the assets of
Newport; or 

  

	 	(d)	the stockholders of Newport approve any plan or proposal for the liquidation or dissolution of Newport; or 

  

	 	(e)	any person (as such term is used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), shall become the beneficial
owner (within the meaning of Rule 13d-3 under the Exchange Act) of twenty percent (20%) or more of Newport’s outstanding voting securities (other than any such person who is the record owner of at least fifteen percent (15%) of Newport’s
outstanding voting securities on the date hereof, other than nominees); or 

  

	 	(f)	during any period of two consecutive years during the term of this Agreement, individuals who at the beginning of the two year period constituted the entire Board of
Directors do not for any reason constitute a majority thereof unless the election, or the nomination for election by Newport’s stockholders, of each new director was approved by a vote of at least two-thirds of the directors then still in
office who were directors at the beginning of the period; or 

  

	 	(g)	an event constituting a “Business Combination” under Newport’s Articles of Incorporation as amended to date. 

 [NAME] 
 July 16, 2004

 Page 5 
  

	9.	Confidentiality and Inventions. As a condition to your employment, you agree to execute Newport’s standard employee proprietary information agreement, pursuant to which,
among other things, you agree to keep strictly confidential any and all confidential and proprietary information of Newport, its subsidiaries, affiliates, customers, suppliers and others that you have been, or will be, entrusted with during or as a
result of your employment, and to assign and transfer to Newport any and all rights in patents, copyrights, trademarks, inventions, discoveries, developments, or trade secrets developed or perfected by you during or as the result of your employment
with Newport, which shall constitute the sole and exclusive property of Newport. 

  

	10.	At-Will Employment. You understand and agree that your employment with Newport will be on an “at will” basis. You are not guaranteed any specific term of
employment, and both you and Newport have the absolute and unconditional right to terminate your employment with or without cause for any reason or no reason and with no prior notice. Nothing contained in this letter agreement, including the
severance and compensation provisions, shall be considered an implied guarantee of continued employment. Upon termination of employment for any reason, you agree that you will immediately return to Newport without condition all files, records, keys,
and other property of Newport or its subsidiaries. 

  

	11.	Duty of Loyalty and Conflict Of Interests. During the term of your employment, you will give Newport your undivided loyalty, and will devote your full working time, ability,
and attention to the business of Newport and its subsidiaries. You will not accept other employment or engage in any other outside business activity which interferes with the performance of your duties and responsibilities or which involves actual
or potential competition with the business of Newport or its subsidiaries, except with the express written consent of Newport. 

  

	12.	Assignment. This letter agreement may not be assigned by you, but may be assigned by Newport to any successor in interest to its business. This letter agreement shall bind
and inure to be benefit of Newport’s successors and assigns, as well as your heirs, executors, administrators, and legal representatives. It is specifically understood and agreed that no assignment by Newport shall be deemed to be a
“termination” of your employment within the meaning of paragraphs 7 or 8 hereof. 

  

	13.	Partial Invalidity. In the event any provision of this letter agreement is void or unenforceable, the remaining provisions shall continue in full force and effect.

  

	14.	Governing Law; Jurisdiction. This letter agreement and the terms of your employment shall be governed by the laws of the State of California. By execution hereof, each party
hereby irrevocably submits to the exclusive jurisdiction of the state or federal courts located in Santa Clara County, California for the purpose of any claim or action arising out of or based upon this letter agreement, or relating to the subject
matter hereof, and agrees not to commence any such claim or action other than in the above-named courts. 

  

	15.	Arbitration. Notwithstanding any other provision of this letter agreement, any dispute or controversy between you and Newport concerning your hiring, employment,
compensation, or termination, shall be settled by mandatory binding arbitration before the American Arbitration Association or such other neutral arbitrator as you and Newport may agree. This agreement to arbitrate includes but is not limited to
claims for violation of the equal employment laws, such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, Americans with Disabilities Act or any anti-discrimination law of the State of California. The arbitrator
shall have full authority to award all relief otherwise available in a court of law, and shall apply California law. BOTH PARTIES ACKNOWLEDGE THAT THEY ARE WAIVING THEIR RIGHT TO A TRIAL BY JURY. 

 [NAME] 
 July 16, 2004

 Page 6 
  

	16.	Entire Agreement; Amendment. This letter agreement and Newport’s proprietary information agreement to be executed in accordance herewith contain the entire agreement of
you and Newport, and supercede all prior oral, written and other agreements relating to your employment, including any prior agreements between you and Spectra-Physics or any of its subsidiaries or affiliates; provided, however, that any agreement
existing between you and Spectra-Physics or any of its subsidiaries or affiliates containing obligations relating to confidential and proprietary information and/or your assignment of rights shall remain in full force and effect. This letter
agreement, and any other term of your employment, may be modified, or any provision thereof waived, only by written agreement signed by the party against whom any amendment is to be enforced, and in the case of Newport, executed by Newport’s
Chief Executive Officer. No waiver of any provision or breach of this Agreement shall constitute a waiver of such provision in any future event, or of any subsequent breach. 

  
 If the foregoing terms of employment are acceptable to you, please indicate your agreement by signing the enclosed copy of this letter and
returning a copy of your signature to me by fax at (949) 253-1221 and the original by mail. This offer, if not accepted, will expire on July 23, 2004. 
  
 We are very excited for you to be a part of the Newport/Spectra-Physics team, and look forward to working together on the future success of the combined company.

  
 Best Regards, 
  

	
	 /s/ Robert G. Deuster

	Robert G. Deuster
	Chairman and Chief Executive Officer

  
 I accept Newport’s offer of
employment on the terms set forth in this letter agreement. 
  
 (Initial
one) 
  
             I elect to receive restricted shares of Newport common stock. 
  
 OR 
  
             I elect to receive an additional nonqualified option to purchase Newport common stock. 
  

							
	  

	  	  
 Date:
	  	
                                    	  	 
	[NAME]Form of Restricted Stock Agreement under Registrant's 2001 Stock Incentive Plan

 Exhibit 10.4 
  
 FORM OF 
  
 NEWPORT CORPORATION 
 RESTRICTED STOCK
AGREEMENT 
 UNDER 
 2001 STOCK INCENTIVE PLAN 
  
 THIS RESTRICTED
STOCK AGREEMENT (the “Agreement”) is entered into as of [DATE] by and between [FIRST NAME] [MI] [LAST NAME] (hereinafter referred to as “Recipient”), and Newport Corporation, a Nevada corporation (hereinafter referred to as the
“Company”), pursuant to the Company’s 2001 Stock Incentive Plan (the “Plan”). Any capitalized term not defined herein shall have the same meaning ascribed to it in the Plan. 
  
 R E C I T A L S: 
  
 A. Recipient is an employee, director, consultant or other Service
Provider, and in connection therewith has rendered services for and on behalf of the Company. 
  
 B. The Company desires to issue shares of common stock to Recipient to provide an incentive for Recipient to remain a Service Provider of the Company and to exert added effort towards its growth and success.

  
 NOW, THEREFORE, in consideration of the mutual covenants
hereinafter set forth, and for other good and valuable consideration, the parties agree as follows: 
  
 1. Award and Acceptance of Shares. The Company hereby awards to Recipient the right to acquire an aggregate of [NO. OF SHARES] shares of
Common Stock of the Company (the “Shares”) on the terms and conditions set forth in this Agreement and in the Plan. Recipient accepts the Shares and acknowledges that he or she has read and understands the terms of the Plan and agrees to
be bound by the terms and conditions of this Agreement and the Plan. 
  
 2. Vesting of Shares. 
  
 (a) Vesting
Schedule. Subject to Sections 2(b) and 2(c) below, the Shares acquired hereunder shall vest and become “Vested Shares” pursuant to the following schedule: [VESTING SCHEDULE]. Shares which have not yet become vested are herein called
“Unvested Shares.” 
  
 (b) Continuous Service.
Notwithstanding Section 2(a) above, no additional Shares shall vest after the date of termination of Recipient’s Continuous Service. As used herein, the term “Continuous Service” means (i) employment by either the Company or any
parent or subsidiary corporation of the Company, or by any successor entity following a Change in Control, which is uninterrupted except for vacations, illness (except for permanent disability, as defined in Section 22(e)(3) of the Code), or leaves
of absence which are approved in writing by the Company or any of such other employer corporations, if applicable, (ii) service as a member of the Board of Directors of the Company until Recipient resigns, is removed from office, or Recipient’s
term of office expires and he or she is not reelected, or (iii) so long as Recipient is engaged as a consultant or Service Provider to the Company or other corporation referred to in clause (i) above. Changes in Recipient’s status among the
alternatives set forth in the foregoing clauses (i), (ii) and/or (iii) shall not be deemed to terminate Recipient’s Continuous Service. 

 (c) Change in Control. Notwithstanding Section 2(a), if Recipient holds Unvested Shares at the
time a Change in Control occurs, all Unvested Shares shall, immediately prior to the consummation of such Change in Control, vest in full and shall no longer be subject to forfeiture, except to the extent that this Agreement is continued, assumed,
or substituted for by the acquiring or successor entity (or parent thereof) in connection with such Change in Control. If the Unvested Shares shall vest in full in accordance with the provisions of this subsection (c), then the Administrator shall
cause written notice of the Change in Control transaction to be given to Recipient not less than fifteen (15) days prior to the anticipated effective date of the proposed transaction. However, if in the event of a Change in Control the acquiring or
successor entity (or parent thereof) provides for the continuance or assumption of this Agreement or the substitution for this Agreement of a new agreement of comparable value covering shares of a successor corporation (with appropriate adjustments
as to the number and kind of shares and the purchase price), then the Unvested Shares shall not immediately vest, and vesting of the Shares shall continue in accordance with Section 2(a) above. 
  
 3. Section 83(b) Election. Recipient understands that Recipient
(and not the Company) shall be responsible for the Recipient’s own tax liability that may arise as a result of the acquisition of the Shares. Recipient acknowledges that Recipient has considered the advisability of all tax elections in
connection with the acquisition of the Shares, including the making of an election under Section 83(b) of the Code. Recipient further acknowledges that the Company has no responsibility for the making of such Section 83(b) election. In the event
that Recipient determines to make a Section 83(b) election, Recipient acknowledges that he must deliver to the Company a copy of the signed and completed notice of election that Recipient filed with the Internal Revenue Service within thirty (30)
days of the date of this Agreement. A form of election has been provided to Recipient with this Agreement. Recipient and Company acknowledge and agree that the fair market value of the Shares as of the date of this Agreement is $[XX.XX] per share.

  
 4. Forfeiture Upon Termination of Continuous
Service. 
  
 (a) Forfeiture. Upon the termination
of Recipient’s Continuous Service, all Unvested Shares as of the date of termination of Recipient’s Continuous Service shall be immediately forfeited by Recipient and returned to the Company. Such forfeited Shares shall be deemed
cancelled, null and void as of the date of such termination. 
  
 (b) Deposit of Unvested Shares. If certificates representing the Shares are issued to Recipient, Recipient shall deposit with the Company certificates representing the Unvested Shares, together with a duly executed stock assignment
separate from certificate in blank, which shall be held by the Corporate Secretary of the Company. Recipient shall be entitled to vote and to receive dividends and distributions on all such deposited Unvested Shares. 
  
 (c) Stop Transfer Orders. Recipient understands and agrees that, in
order to ensure compliance with the restrictions referred to in this Agreement, the Company may issue appropriate “stop transfer” instructions to its transfer agent and/or third party stock plan administrator with respect to all Unvested
Shares. 
  

 2 

 (d) Change in Control. The provisions of this Section 4 shall automatically terminate in
accordance with Section 2(c) above. 
  
 5. Restrictions on
Unvested Shares. Unvested Shares may not be sold, transferred, pledged, or otherwise disposed of, except that such Unvested Shares may be transferred to a trust established for the sole benefit of the Recipient and/or his or her spouse,
children or grandchildren. Any Unvested Shares that are transferred as provided herein remain subject to the terms and conditions of this Agreement. All Unvested Shares shall at all times be kept, and if forfeited shall be delivered to the Company,
free and clear of all claims, liens and encumbrances of every nature (except the provisions of this Agreement and any conditions concerning the Shares relating to compliance with applicable federal or state securities laws). 
  
 6. Adjustments Upon Changes in Capital Structure. In the event
that the outstanding Shares of Common Stock of the Company are hereafter increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the Company by reason of a recapitalization, stock split,
combination of shares, reclassification, stock dividend, or other change in the capital structure of the Company, then Recipient shall be entitled to new or additional or different shares of stock or securities, in order to preserve, as nearly as
practical, but not to increase, the benefits of Recipient under this Agreement, in accordance with the provisions of Section 4.2 of the Plan. Such new, additional or different shares shall be deemed “Shares” for purposes of this Agreement
and subject to all of the terms and conditions hereof. 
  
 7.
Limitation of Company’s Liability for Nonissuance; Unpermitted Transfers. 
  
 (a) The Company agrees to use its reasonable best efforts to obtain from any applicable regulatory agency such authority or approval as may be required in order to issue and sell the Shares to Recipient
pursuant to this Agreement. The inability of the Company to obtain, from any such regulatory agency, authority or approval deemed by the Company’s counsel to be necessary for the lawful issuance and sale of the Shares hereunder and under the
Plan shall relieve the Company of any liability in respect of the nonissuance or sale of such Shares as to which such requisite authority or approval shall not have been obtained. 
  
 (b) The Company shall not be required to: (i) transfer on its books any Shares of the Company which shall have been
sold or transferred in violation of any of the provisions set forth in this Agreement, or (ii) treat as owner of such Shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such Shares shall have been so
transferred. 
  
 8. Notices. Any notice, demand or
request required or permitted to be given under this Agreement shall be in writing and shall be deemed given when delivered personally or three (3) days after being deposited in the United States mail, as certified or registered mail, with postage
prepaid, (or by such other method as the Administrator may from time to time deem appropriate), and addressed, if to the Company, at its principal place of business, Attention: General Counsel, and if to the Recipient, at his or her most recent
address as shown in the employment or stock records of the Company. 
  
 9. Binding Obligations. All covenants and agreements herein contained by or on behalf of any of the parties hereto shall bind and inure to the benefit of the parties hereto and their permitted successors and assigns.

  

 3 

 10. Captions and Section Headings. Captions and section headings used herein are for
convenience only, and are not part of this Agreement and shall not be used in construing it. 
  
 11. Amendment. This Agreement may not be amended, waived, discharged, or terminated other than by written agreement of the parties. 
  
 12. Entire Agreement. This Agreement and the Plan constitute the entire agreement between the parties with
respect to the subject matter hereof and supersede all prior or contemporaneous written or oral agreements and understandings of the parties, either express or implied. 
  
 13. Assignment. Recipient shall have no right, without the prior written consent of the Company, to (i) sell,
assign, mortgage, pledge or otherwise transfer any interest or right created hereby, or (ii) delegate his or her duties or obligations under this Agreement. This Agreement is made solely for the benefit of the parties hereto, and no other person,
partnership, association or corporation shall acquire or have any right under or by virtue of this Agreement. 
  
 14. Severability. Should any provision or portion of this Agreement be held to be unenforceable or invalid for any reason, the remaining
provisions and portions of this Agreement shall be unaffected by such holding. 
  
 15. Counterparts. This Agreement may be executed in one or more counterparts, all of which taken together shall constitute one agreement and any party hereto may execute this Agreement by signing any
such counterpart. This Agreement shall be binding upon Recipient and the Company at such time as the Agreement, in counterpart or otherwise, is executed by Recipient and the Company. 
  
 16. Governing Law. This Agreement shall be construed in accordance with the laws of the State of California
without reference to choice of law principles, as to all matters, including, but not limited to, matters of validity, construction, effect or performance. 
  
 17. No Agreement to Employ. Nothing in this Agreement shall affect any right with respect to continuance of employment by the Company or any
of its subsidiaries. The right of the Company or any of its subsidiaries to terminate at will the Recipient’s employment at any time (whether by dismissal, discharge or otherwise), with or without cause, is specifically reserved, subject to any
other written employment agreement to which the Company and Recipient may be a party. 
  
 18. “Market Stand-Off” Agreement. Recipient agrees that, if requested by the Company or the managing underwriter of any proposed public offering of the Company’s securities, Recipient will
not sell or otherwise transfer or dispose of any Shares held by Recipient without the prior written consent of the Company or such underwriter, as the case may be, during such period of time, not to exceed 180 days following the effective date of
the registration statement filed by the Company with respect to such offering, as the Company or the underwriter may specify. 
  
 19. Attorneys’ Fees. If any party shall bring an action in law or equity against another to enforce or interpret any of the terms,
covenants and provisions of this Agreement, the prevailing party in such action shall be entitled to recover from the other party reasonable attorneys’ fees and costs. 
  

 4 

 20. Interpretation. This Agreement is entered into pursuant to the terms of the Plan, and
shall in all respects be interpreted in accordance therewith. The Administrator shall interpret and construe this Agreement and the Plan, and any action, decision, interpretation or determination made in good faith by the Administrator shall be
final and binding on the Company and the Recipient. As used in this Agreement, the term “Administrator” shall refer to the committee of the Board of Directors of the Company appointed to administer the Plan, and if no such committee has
been appointed, the term Administrator shall mean the Board of Directors. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. 
  

					
	THE COMPANY:	 	PURCHASER:
		
	NEWPORT CORPORATION	 	 
			
	By:	 	  

	 	  

	Name:	 	  

	 	[First Name] [MI] [Last Name]
	Title:	 	  

	 	 

  

 5 

 CONSENT AND RATIFICATION OF SPOUSE 
  
 The undersigned, the spouse of
                                , a party to the attached Restricted Stock
Agreement (the “Agreement”), dated as of                 , hereby consents to the execution of said Agreement by such party; and ratifies, approves,
confirms and adopts said Agreement, and agrees to be bound by each and every term and condition thereof as if the undersigned had been a signatory to said Agreement, with respect to the Shares (as defined in the Agreement) made the subject of said
Agreement in which the undersigned has an interest, including any community property interest therein. 
  
 I also acknowledge that I have been advised to obtain independent counsel to represent my interests with respect to this Agreement but that I have
declined to do so and I hereby expressly waive my right to such independent counsel. 
  

			
	Date:
                                	  	

	 	  	(Signature)
	 	  	

	 	  	(Print Name)

  

 A-1

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