Document:

Exhibit
10.1

 

BEACON
POWER CORPORATION

 

2010
STOCK INCENTIVE PLAN

 

1.             Purpose

 

The purpose of this 2010 Stock Incentive Plan (the “Plan”) of Beacon
Power Corporation, a Delaware corporation (the “Company”), is to advance the
interests of the Company’s stockholders by enhancing the Company’s ability to
attract, retain and motivate persons who make (or are expected to make)
important contributions to the Company by providing such persons with equity
ownership opportunities and performance-based incentives and thereby better
aligning the interests of such persons with those of the Company’s
stockholders.  Except where the context
otherwise requires, the term “Company” shall include any present or future
subsidiary corporations of the Company as defined in Section 424(f) of
the Internal Revenue Code of 1986, as amended, and any regulations promulgated
thereunder (the “Code”).  The Plan
represents an amendment and restatement of the Third Amended and Restated 1998
Stock Incentive Plan.

 

2.             Eligibility

 

All of the Company’s employees, officers, directors, consultants and
advisors are eligible to be granted options, restricted stock, or other
stock-based awards (each, an “Award”) under the Plan.  Each person who has been granted an Award
under the Plan shall be deemed a “Participant”.

 

3.             Administration, Delegation

 

(a)           Administration by Board of
Directors.  The Plan
will be administered by the Board of Directors of the Company (the “Board”).  The Board shall have authority to grant
Awards and to adopt, amend and repeal such administrative rules, guidelines and
practices relating to the Plan as it shall deem advisable.  The Board may correct any defect, supply any
omission or reconcile any inconsistency in the Plan or any Award in the manner
and to the extent it shall deem expedient to carry the Plan into effect and it
shall be the sole and final judge of such expediency.  All decisions by the Board shall be made in
the Board’s sole discretion and shall be final and binding on all persons
having or claiming any interest in the Plan or in any Award.  No director or person acting pursuant to the
authority delegated by the Board shall be liable for any action or
determination relating to or under the Plan made in good faith.

 

(b)           Delegation to Executive
Officers.  To the extent
permitted by applicable law, the Board may delegate to one or more executive
officers of the Company the power to make Awards and exercise such other powers
under the Plan as the Board may determine, provided that the Board shall fix
the maximum number of shares subject to Awards and the maximum number of shares
for any one Participant to be made by such executive officers.

 

(c)           Appointment of Committees. To the extent
permitted by applicable law, the Board may delegate any or all of its powers
under the Plan to one or more committees or subcommittees of the Board (a “Committee”).  The Compensation Committee of the Board,
consisting of not less than two members, each member of which is an “outside
director” within the meaning of Section 162(m) of the Code and a “non-employee
director” as defined in Rule 16b-3 promulgated under the Securities
Exchange Act of 1934, as amended, has been appointed by the Board.  All references in the Plan to the “Board”
shall mean the Board or the Compensation Committee of the Board or the
executive officer referred to in Section 3(b) to the extent that the
Board’s powers or authority under the Plan have been delegated to such
Committee or executive officer.

 

 

4.             Stock Available
for Awards

 

(a)           Number of Shares.  Subject to adjustment under Section 4(c),
Awards may be made under the Plan for up to 38,000,000 shares of common stock
of the Company, $0.01 par value per share (the “Common Stock”).  As of April 26, 2010 13,458,441 shares
of Common Stock are covered by outstanding Awards and 4,901,423 shares of
Common Stock are available for the grant of new Awards under the Plan.  If any Award expires or is terminated,
surrendered or canceled without having been fully exercised or is forfeited in
whole or in part or results in any Common Stock not being issued, the unused
Common Stock covered by such Award shall again be available for the grant of
Awards under the Plan, subject, however, in the case of Incentive Stock Options
(as hereinafter defined), to any limitation required under the Code.  Shares issued under the Plan may consist in
whole or in part of authorized but unissued shares or treasury shares.

 

(b)           Per-Participant Limit.  Subject to adjustment under Section 4(c),
the maximum number of shares of Common Stock with respect to which an Award may
be granted to any Participant under the Plan shall be 1,400,000, per calendar
year.  The per-Participant limit
described in this Section 4(b) shall be construed and applied
consistently with Section 162(m) of the Code.

 

(c)           Adjustment to
Common Stock.  In the
event of any stock split, stock dividend, recapitalization, reorganization,
merger, consolidation, combination, exchange of shares, liquidation, spin-off
or other similar change in capitalization or event, or any distribution to
holders of Common Stock other than a normal cash dividend, (i) the number
and class of securities available under  this Plan, (ii) the
number and class of security and exercise price per share subject to each
outstanding Option (as hereinafter defined), (iii) the repurchase price
per security subject to each outstanding Restricted Stock Award (as hereinafter
defined), and (iv) the terms of each other outstanding stock-based Award
shall be appropriately adjusted by the Company (or substituted Awards may be made,
if applicable) to the extent the Board shall determine, in good faith, that
such an adjustment  (or
substitution) is necessary and appropriate. 
If this Section 4(c) applies and Section 9(e)(1) also
applies to any event, Section 9(e)(1) shall be applicable to such
event, and this Section 4(c) shall not be applicable.

 

5.             Stock Options

 

(a)           General.  The Board may grant options to purchase
Common Stock (each, an “Option”) and determine the number of shares of Common
Stock to be covered by each Option, the exercise price per share and the
conditions and limitations applicable to the exercise of each Option, including
conditions relating to applicable federal or state securities laws, as it
considers necessary or advisable.  An
Option which is not intended to be an Incentive Stock Option (as hereinafter
defined) shall be designated a “Nonstatutory Stock Option”.

 

(b)           Incentive Stock Options.  An Option that the Board intends to be an “incentive
stock option” as defined in Section 422 of the Code (an “Incentive Stock
Option”) shall only be granted to employees of the Company and shall be subject
to and shall be construed consistently with the requirements of Section 422
of the Code.  The Company shall have no
liability to a Participant, or any other party, if an Option (or any part
thereof) which is intended to be an Incentive Stock Option is not an Incentive
Stock Option.

 

(c)           Exercise Price.  The Board shall establish the exercise price
at the time each Option is granted and specify it in the applicable option
agreement.

 

2

 

(d)           Duration of Options.  Each Option shall be exercisable at such
times and subject to such terms and conditions as the Board may specify in the
applicable option agreement; provided, however, that no Option will be granted
for a term in excess of ten (10) years.

 

(e)           Exercise of Option.  Options may be exercised by delivery to the
Company of a written notice of exercise signed by the proper person or by
another form of notice (including electronic notice) approved by the Board
together with payment in full as specified in Section 5(f) for the
number of shares of Common Stock for which the Option is exercised.

 

(f)            Payment upon Exercise.  Common Stock purchased upon the exercise of
an option granted under the Plan shall be paid for as follows:

 

(1)           in cash or by
check, payable to the order of  the Company;

 

(2)           except as the
Board may, in its sole discretion, otherwise provide in an option agreement, (i) delivery
of an irrevocable and unconditional undertaking by a creditworthy broker to
deliver promptly to the Company sufficient funds to pay the exercise price or (ii) delivery
by the Participant to the Company of a copy of irrevocable and unconditional
instructions to a creditworthy broker to deliver promptly to the Company cash
or a check sufficient to pay the exercise price;

 

(3)           delivery of shares of Common
Stock owned by the Participant valued at their fair market value as determined
by (or in a manner approved by) the Board in good faith (“Fair Market Value”),
which Common Stock was owned by the Participant at least six months prior to
such delivery;

 

(4)           to the extent permitted by
the Board, in its sole discretion, (i) by delivery of a promissory note of
the Participant to the Company on terms determined by the Board or (ii) by
payment of such other lawful consideration as the Board may determine; or

 

(5)           any combination
of the above permitted forms of payment.

 

(g)           Nonqualified Options with Fair
Market Value Exercise Price.  Unless otherwise determined by the Board
pursuant to subsection (h) below, to avoid a deferral of compensation
falling within the requirements of Section 409A of the Code, any Option to
purchase stock, other than an Incentive Stock Option described in Section 422
of the Code will have the following characteristics: (i) the exercise
price will never be less than the fair market value of the underlying stock on
the date the Option is granted, (ii) the receipt, transfer or exercise of
the Option will be subject to taxation under Section 83 of the Code, and
(iii) the Option will not include any feature for the deferral of
compensation other than the deferral of recognition of income until the later
of exercise or disposition of the Option.

 

(h)           Nonqualified Options with Exercise
Price Less than Fair Market Value.  Notwithstanding subsection (g) above, to
the extent that any Nonqualified Option may constitute a deferral of
compensation, said Option shall comply with the requirements of Section 409A
of the Code as set forth in the corresponding option agreement.

 

6.             Restricted Stock

 

(a)           Grants.  The Board may grant Awards entitling
recipients to acquire shares of Common Stock, subject to the right of the
Company to repurchase all or part of such shares at their issue price or other
stated or formula price  (or to require
forfeiture of such shares if issued at no cost) from the recipient in the event
that conditions specified by the Board in the applicable Award are not
satisfied

 

3

 

prior to the end of the
applicable restriction period or periods established by the Board for such
Award (each, a “Restricted Stock Award”).

 

(b)           Terms and Conditions.  The Board shall determine the terms and
conditions of any such Restricted Stock Award, including the conditions for
repurchase (or forfeiture) and the issue price, if any.  Any stock certificates issued in respect of a
Restricted Stock Award shall be registered in the name of the Participant and,
unless otherwise determined by the Board, deposited by the Participant,
together with a stock power endorsed in blank, with the Company (or its
designee).  At the expiration of the
applicable restriction periods, the Company (or such designee) shall deliver the
certificates no longer subject to such restrictions to the Participant or if
the Participant has died, to the beneficiary designated, in a manner determined
by the Board, by a Participant to receive amounts due or exercise rights of the
Participant in the event of the Participant’s death (the “Designated
Beneficiary”).  In the absence of an
effective designation by a Participant, Designated Beneficiary shall mean the
Participant’s estate.

 

(c)           Deferred Compensation.  To the extent that any Award of
shares of restricted stock may constitute a deferral of compensation, the Award
shall comply with the requirements of Section 409A of the Code as set
forth in the corresponding Restricted Stock Award.

 

7.             Other
Stock-Based Awards.

 

The Board shall have the right to grant other Awards based upon the Common
Stock having such terms and conditions as the Board may determine, including
the grant of shares based upon certain conditions, the grant of securities
convertible into Common Stock and the grant of stock appreciation rights.

 

Notwithstanding the foregoing, however, the form
and/or operation of any such Award will not constitute “deferred compensation”
under Section 409A of the Code or if such Award, in form or operation,
constitute “deferred compensation” the Award shall comply with the requirements
under Section 409A of the Code as set forth in the corresponding Award
agreement.

 

8.             Performance
Awards.

 

The Board may, in its discretion, grant performance
Awards which become vested or payable on account of attainment of one or more
performance goals during a specified period as established by the Board.
Performance goals established by the Board shall be based on objectively
determinable performance goals selected by the Board that apply to an
individual or group of individuals, a business unit, or the Company or an
affiliate as a whole, over such performance period as the Board may designate.

 

For Awards intended to be “performance-based
compensation,” the grant of the performance Awards and the establishment of the
performance measures shall be made during the period required under Code Section 162(m) and
in accordance with Section 409A of the Code to the extent applicable.

 

The performance goals shall be based on one or more of
the following criteria: stock price, earnings per share, earnings before or
after deduction for all or any portion of interest, taxes, depreciation, or
amortization, whether or not on a continuing operations or an aggregate or per
share basis, net earnings, operating or other earnings, profits, revenues, net
cash flow, financial return ratios, return on assets, stockholder return,
return on equity, growth in assets, market share or strategic business criteria
consisting of one or more objectives based on meeting specified revenue goals,
market

 

4

 

penetration goals, geographic business expansion goals
or goals relating to acquisitions or strategic partnerships.

 

At any time prior to the final determination of the
performance Awards, the Board may adjust the performance goals and Awards for
Participants to the extent that the Board deems appropriate considering the
requirements of Code Section 162(m); provided that if a performance Award
is intended to qualify for the “performance-based compensation” exemption under
Code Section 162(m), the Board shall be precluded from increasing the
amount of compensation payable under the terms of such performance Award (but
may decrease the amount of compensation payable in its sole discretion). Upon
completion of a performance period, the Board shall determine whether the
performance goals have been met and certify in writing to the extent that such
goals have been satisfied. To the extent permitted under Code Section 162(m),
the Board may, in its sole discretion, also exclude, or adjust to reflect, the
impact of an event or occurrence that the Board determines should be
appropriately excluded or adjusted, including: (a) restructurings,
discontinued operations, extraordinary items or events, and other unusual or
non-recurring charges; (b) an event either not directly related to the
operations of the Company or not within the reasonable control of the Company’s
management; or (c) a change in tax law or accounting standards required by
generally accepted accounting principles. In addition, the performance goals
may be based upon the attainment of specified levels of Company (or subsidiary,
division, other operational unit or administrative department of the Company)
performance under one or more of the measures described above relative to the
performance of other corporations.

 

For purposes of this Section 8, references to the
Board shall mean the “compensation committee” within the meaning of Treas. Reg.
§1.162-27(c)(4).

 

9.             General Provisions
Applicable to Awards

 

(a)           Transferability of Awards.  Except as the Board may otherwise determine
or provide in an Award, Awards shall not be sold, assigned, transferred,
pledged or otherwise encumbered by the person to whom they are granted, either
voluntarily or by operation of law, except by will or the laws of descent and
distribution, and, during the life of the Participant, shall be exercisable
only by the Participant.  References to a
Participant, to the extent relevant in the context, shall include references to
authorized transferees.

 

Notwithstanding the foregoing,
a Participant’s transfer to a revocable trust that is solely for the benefit of
the Participant and the Participant’s spouse and/or issue during his lifetime
and transfer under such trust at the Participant’s death to the trust’s
intended beneficiaries shall not be deemed to be prohibited by the foregoing
provisions.  If any person other than the
Participant, the Participant’s then current spouse, and the Participant’s issue
shall possess a vested interest in such trust during the lifetime of the Participant,
such interest shall not be recognized hereunder as giving such person any right
the benefit of an Award.  In such event
the Award shall revest in the Participant as if such transfer in trust had not
occurred.  Any Award that consists of an
incentive stock option and that is transferred to a trust as permitted in this
paragraph, and any shares purchased thereunder, are subject to any applicable rules of
the Internal Revenue Code concerning the effects of such transfers on incentive
stock option status.

 

(b)           Documentation.  Each Award shall be evidenced by a written
instrument in such form as the Board shall determine.  Each Award may contain terms and conditions
in addition to those set forth in the Plan. 
In addition, each such written Award
shall contain such terms and conditions as are necessary to comply with the
requirements of Section 409A of the Code.

 

5

 

(c)           Board Discretion.  Except as otherwise provided by the Plan,
each Award may be made alone or in addition or in relation to any other
Award.  The terms of each Award need not
be identical, and the Board need not treat Participants uniformly.

 

(d)           Termination of Status.  The Board shall determine the effect on an
Award of the disability, death, retirement, authorized leave of absence or
other change in the employment or other status of a Participant and the extent
to which, and the period during which, the Participant, the Participant’s legal
representative, conservator, guardian or Designated Beneficiary may exercise
rights under the Award.

 

(e)           Acquisition
Events

 

(1)           Consequences of
Acquisition Events.  Upon the
occurrence of an Acquisition Event (as defined below), or the execution by the
Company of any agreement with respect to an Acquisition Event, the Board shall
take any one or more of the following actions with respect to then outstanding
Awards: (i) provide that all outstanding Options shall be assumed, or
equivalent Options shall be substituted, by the acquiring or succeeding
corporation (or an affiliate thereof), provided that any such Options
substituted for Incentive Stock Options shall satisfy, in the determination of
the Board, the requirements  of Section 424(a) of
the Code; (ii) upon written notice to the Participants, provide that all
then unexercised Options will become exercisable in full as of a specified time
(the “Acceleration Time”) prior to the Acquisition Event and will terminate
immediately  prior to the consummation of such
Acquisition Event, except to the extent exercised by the Participants between
the Acceleration Time and the consummation of such Acquisition Event; (iii) in
the event of an Acquisition Event under the terms of which holders of Common
Stock will receive upon consummation thereof a cash payment for each share of
Common Stock surrendered pursuant to such Acquisition Event (the “Acquisition
Price”), provide that all outstanding Options shall terminate upon consummation
of such Acquisition Event and each Participant shall receive, in exchange
therefor, a cash payment equal to the amount (if any) by which (A) the
Acquisition Price multiplied by the number of shares of Common Stock subject to
such outstanding Options (whether or not then exercisable), exceeds (B) the
aggregate exercise price of such Options; (iv) provide that all Restricted
Stock Awards then outstanding shall become free of all restrictions prior to
the consummation of the Acquisition Event; and (v) provide that any other
stock-based Awards outstanding (A) shall become exercisable, realizable or
vested in full, or shall be free of all conditions or restrictions, as
applicable to each such Award, prior to the consummation of the Acquisition
Event, or (B), if applicable, shall be assumed, or equivalent Awards shall be
substituted, by the acquiring or succeeding corporation (or an affiliate
thereof).

 

Except as otherwise may be required with respect to
any Award constituting deferred compensation under Section 409A of the
Code, in which case the provisions of said Section 409A shall prevail as
set forth in the individual Award agreement, an “Acquisition Event” shall
mean: (a) any merger or consolidation which results in the voting
securities of the Company outstanding immediately prior thereto representing
immediately thereafter (either by remaining outstanding or by being converted
into voting securities of the surviving or acquiring entity) less than 50% of
the combined voting power of the voting securities of the Company or such
surviving or acquiring entity outstanding immediately after such merger or
consolidation; (b) any sale of all or substantially all of the assets of
the Company; or (c) the complete liquidation of the Company.

 

(2)           Assumption of
Options Upon Certain Events.  The Board
may grant Awards under the Plan in substitution for stock and stock-based
awards held by employees of another corporation who become employees of the
Company as a result of a merger or consolidation of the employing corporation
with the Company or the acquisition by the Company of property or stock of the
employing

 

6

 

corporation The substitute Awards shall be granted on such terms and
conditions as the Board considers appropriate under the circumstances.  Such
substitute Awards shall not constitute a deferral of compensation under Section 409A
of the Code.  Notwithstanding the
foregoing, to the extent that the Board determines that any such substitute
Award shall constitute a deferral of compensation under Section 409A of
the Code such Award shall be accompanied by a written Award agreement which
shall set forth the terms and conditions required to comply with the provisions
of Section 409A of the Code.

 

(f)            Withholding.  Each Participant shall pay to the Company, or
make provision satisfactory to the Board for payment of, any taxes required  by law to be withheld in connection with Awards to such
Participant no later than the date of the event creating the tax
liability.  Except as the Board may
otherwise provide in an Award, Participants may satisfy such tax obligations in
whole or in part by delivery of shares of Common Stock, including shares
retained from the Award creating the tax obligation, valued at their Fair
Market Value.  The Company may, to the
extent permitted by law, deduct any such tax obligations from any payment of
any kind otherwise due to a Participant.

 

(g)           Amendment of
Award.  The Board may amend, modify  or terminate any outstanding Award, including but not
limited to, substituting therefor another Award of the same or a different
type, changing the date of exercise or realization, accelerating the vesting of
an Award (and in appropriate cases, providing that the portion so accelerated
be held as restricted stock), and converting an Incentive Stock Option to a
Nonstatutory Stock Option, provided that the Participant’s consent to such
action shall be required unless the Board determines that the action, taking
into account any related action, would not materially and adversely affect the
Participant.  Notwithstanding the foregoing, any amendment pursuant to this subsection 9(g) shall
not be permitted to the extent that the individual Award or this Plan, in
general, would constitute deferred compensation subject to Section 409A of
the Code unless the Award agreement sets forth the terms and conditions necessary
to comply with the requirements of Section 409A of the Code.

 

(h)           Conditions on Delivery of
Stock.  The Company will not be
obligated to deliver any shares of Common Stock pursuant to the Plan or to
remove restrictions from shares previously delivered under the Plan until (i) all
conditions of the Award have been met or removed to the satisfaction of the
Company, (ii) in the opinion of the Company’s counsel, all other legal
matters in connection with the issuance and delivery of such shares have been satisfied,
including any applicable securities laws and any applicable stock exchange or
stock market rules and regulations, and (iii) the Participant has
executed and delivered to the Company such representations or agreements as the
Company may consider appropriate to satisfy the requirements of any applicable
laws, rules or regulations.

 

(i)            Acceleration.  The Board may at any time provide that any
Options shall become immediately exercisable in full or in part, that any
Restricted Stock Awards shall be free of all restrictions or that any other
Awards may become exercisable in full or in part or free of some or all
restrictions or conditions, or otherwise realizable in full or in part, as the
case may be.  Notwithstanding the foregoing, to the extent that any acceleration
pursuant to this subsection 8(i) pertains to an Award which constitutes “deferred
compensation” under Section 409A of the Code such acceleration shall
comply with any requirements of Section 409A which may be applicable.

 

7

 

10.           Miscellaneous

 

(a)            No Right To Employment or
Other Status.  No person
shall have any claim or right to be granted an Award, and the grant of an Award
shall not be construed as giving a Participant the right to continued
employment or any other relationship with the Company.  The Company expressly reserves the right at
any time to dismiss or otherwise terminate its relationship with a Participant
free from any liability or claim under the Plan, except as expressly provided
in the applicable Award.

 

(b)           No Rights As
Stockholder.  Subject to
the provisions of the applicable Award, no Participant or Designated
Beneficiary shall have any rights as a stockholder with respect to any shares
of Common Stock to be distributed with respect to an Award  until
becoming the record holder of such shares. 
Notwithstanding the foregoing, in the event the Company effects a split
of the Common Stock by means of a stock dividend and the exercise price of and
the number of shares subject to such Option are adjusted as of the date of the
distribution of the dividend (rather than as of the record date for such
dividend), then an optionee who exercises an Option between the close of
business on the record date for such stock dividend and the close of business
on the distribution date for such stock dividend shall be entitled to receive,
on the distribution date, the stock dividend with respect to the shares of
Common Stock acquired upon such Option exercise, notwithstanding the fact that
such shares were not outstanding as of the close of business on the record date
for such stock dividend.

 

(c)            Effective Date and Term of
Plan.  The Plan shall become
effective on the date on which it is adopted by the Board.  No Awards shall be granted under the Plan
after April 27, 2020, but Awards previously granted may extend beyond that
date.

 

(d)           Amendment of Plan.  The Board may amend, waive, suspend or
terminate the Plan or any portion thereof at any time and with respect to any
or all Participants.  Notwithstanding the foregoing, any amendment, waiver,
suspension or termination pursuant to this subsection 10(d) shall not be
permitted to the extent that the individual Award or this Plan, in general,
would constitute deferred compensation subject to Section 409A of the Code
unless the Award agreement sets forth the terms and conditions necessary to
comply with the requirements of Section 409A of the Code or unless
otherwise consented to in writing by a Participant whose Award would become
subject to Section 409A of the Code as a result of such action.  In addition, the Board expressly
reserves the right to amend the Plan, as required, to comply with any
regulatory guidance issued with respect to Section 409A of the Code.

 

(e)            Stockholder Approval.  For purposes of this Plan, stockholder
approval shall mean approval by a vote of the stockholders in accordance with
the requirements of Section 162(m) of the Code.

 

(f)            Governing Law.  The provisions of the Plan and all Awards
made hereunder shall be governed by and interpreted in accordance with the laws
of the State of Delaware, without regard to any applicable conflicts of law.

 

8Exhibit
10.2

 

ENDORSEMENT TO 10% SENIOR SECURED CONVERTIBLE NOTE

 

Precision Optics Corporation, Inc.

	
   

  	
  New
  York, New York

  	
   

  
	
   

  	
  July 26,
  2010

  	
   

  

 

The
10% Senior Secured Convertible Note dated June 25, 2008 and amended December 11,
2008 and June 25, 2010 (the “Note”) of Precision Optics Corporation, Inc.,
a Massachusetts corporation (the “Company”), payable to the order of
Special Situations Private Equity Fund, L.P. (the “Holder”) in an
aggregate principal amount of $275,000 and to which this Endorsement is affixed
is hereby amended in the following respects:

 

1.             The term “Stated Maturity Date” is
hereby restated to be “September 15, 2010.”

 

2.             In the event a default on the Note
occurred solely as a result of the Stated Maturity Date not being extended
prior to July 26, 2010, then the Holder waives any such default.

 

3.             Except as expressly amended by this
Endorsement, the Note remains in full force and effect and the Company hereby
reconfirms its obligations thereunder.

 

IN
WITNESS WHEREOF, the Company has caused this Endorsement to be duly executed,
and the Holder has caused this Endorsement to be duly accepted, by their
respective duly authorized representatives as of the day and year first above
written.

 

	
   

  	
  PRECISION
  OPTICS CORPORATION, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/
  Richard E. Forkey

  
	
   

  	
   

  	
  Name:
  Richard E. Forkey

  
	
   

  	
   

  	
  Title:
  Chief Executive Officer

  
	
  Accepted:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  SPECIAL
  SITUATIONS PRIVATE EQUITY FUND, L.P.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/
  David Greenhouse

  	
   

  	
   

  
	
  Name:

  	
  David
  Greenhouse

  	
   

  	
   

  
	
  Title:

  	
  General
  Partner

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}]]