Document:

Form of Corning Incorporated Non-Qualified Stock Option Agreement

 EXHIBIT 10.50 
 CORNING INCORPORATED 
 NON-QUALIFIED STOCK OPTION AGREEMENT 
 (Terms and Conditions) 
 The following section
summarizes the principal provisions of the 2005 Equity Participation Program as amended (the “Plan”). The terms of the Plan govern the administration of all non-qualified stock options (an “Option”) and other equity grants made
by Corning Incorporated (the “Corporation”). A copy of the Plan can be obtained from the Corporation’s Secretary, One Riverfront Plaza, Corning, New York 14831-0001. If there is a discrepancy between this summary and the Plan, the
terms of the Plan will govern. 
  

	1.	Award of Option. An Option award is evidenced by a written statement provided by the Corporation to an Option recipient (the “Optionee”). The statement will
include the date of the Option grant (the “Option Grant Date”), the number of shares covered by the Option grant, the Option vesting dates, the Option exercise price, and the expiration date of the Option (the “Final Expiration
Date”). 

  

	2.	Exercise of Option. An Option can be exercised on or after the date the Option (or a portion of the Option) becomes vested. For the specific vesting dates applicable
to your Option grant, you can check the statement provided to you by the Company. No Option, however, can be exercised before it is vested or after its Final Expiration Date. For purposes of clarity, the Final Exercise Time could be sooner than the
Final Expiration Date. The Final Exercise Time is 4:00 PM Eastern Time on the Final Expiration Date if that date is a trading date when the New York Stock Exchange is open (“Trading Date”). If the Final Expiration date is not a Trading
Date, then the Final Exercise Time is 4:00 PM Eastern Time on the last preceding Trading Date prior to the Final Expiration Date. 

  

	3.	Non-Transferability. An Option is not transferable other than by will or the laws of descent and distribution, and may be exercised during the lifetime of the Optionee
only by the Optionee. 

  

	4.	Exercise for Cash or Stock. The purchase price of shares purchased through an Option exercise is payable in full with, or in a combination of, (a) cash, or
(b) shares of Corning Common Stock owned by the Optionee duly endorsed or accompanied by stock powers executed in blank. If payment is made in whole or in part with shares of Corning Common Stock, the value of such Common Stock is calculated as
the closing price of Corning Common Stock on the New York Stock Exchange on the day of purchase. 

  

	5.	Exercise After Termination of Employment, Death, Disability or Change in Control. The provisions covering the exercise of an Option following termination of
employment, death, disability or change in control are as follows: 

  

	 	(a)	Retirement — If the Optionee’s employment shall terminate on account of retirement from the Corporation at or after age 55, or under a written Corporation
approved special early retirement program, the Option award will be prorated (based on number of months from Option Grant Date to retirement date divided by 12) and such prorated Options will continue to vest on the normal vesting schedule following
the Option Grant Date and be exercised for the remaining life of such option. 

  

	 	(b)	Involuntary Termination — If the Optionee’s employment shall be involuntarily terminated for any reason not otherwise separately addressed below, all vested
Options: (i) may be exercised for ninety (90) days following such termination, or (ii) until the Final Expiration Date if sooner, to the extent such Options are exercisable at the date of such termination. All unvested Options on the
date of termination are forfeited. 

  

	 	(c)	Disability — If the Optionee’s employment shall terminate as a result of a total and permanent disability (as that term is defined in the Corporation’s
long-term disability plan(s)), an Option may continue to vest and be exercised during the remaining life of the option. 

  

	 	(d)	Divestiture, etc. — If the Optionee’s employment is terminated due to a Corporation approved reduction in force program or divestiture or discontinuance of
certain of the Corporation’s operations, an Option may continue to vest and be exercised for three (3) years after termination of employment or until the Final Expiration Date if sooner. 

  

	 	(e)	Voluntary Termination, Termination for Cause, Dereliction of Duties or Harmful Acts — If the Optionee voluntarily leaves the employ of the Corporation other than
for Retirement as described in subsection (a), an Option shall terminate and be of no further force or effect. If the Optionee shall cause the Corporation to suffer financial harm or damage to its reputation (either before or after termination of
employment) through (i) dishonesty, (ii) material violation of the Corporation’s standards of ethics or conduct, or (iii) material deviation from the duties owed the Corporation by the Optionee, an Option shall terminate and be
of no further force or effect. 

  

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	 	(f)	Rehire — In the event that the Optionee shall be rehired with the Corporation, within thirty (30) days of any of the termination events described in
(a) through (d) above, then the Optionee’s employment history record will reflect as though no termination occurred, and any effect on the Optionee’s stock options caused by the termination event shall be reversed.

  

	 	(g)	Death — If the Optionee shall die while employed, or while retired as described in subsection (a), or while disabled as described in subsection (c), an Option may
continue to vest and be exercised by the Optionee’s duly appointed legal representative during the remaining life of the option. 

  

	 	(h)	Transfers — If the Optionee shall be transferred from the Corporation to a subsidiary company (being a 50% owned entity within the meaning of Section 424(f)
of the Code), or vice versa or from one subsidiary company to another, the Optionee’s employment shall not be deemed to have terminated. An Option shall be treated in accordance with the rules in subsection (e) if, while the Optionee is
employed by a subsidiary company, such company shall cease to be a subsidiary company and the Optionee is not thereupon transferred to and employed by the Corporation or another subsidiary company. 

  

	 	(i)	Change of Control — In the event of a “change of control”, the provisions of Section 2 above shall not be applicable and an Option shall become
fully exercisable. 

 For purposes of this Agreement, the term “change of control” shall mean and
shall be deemed to occur if and when: 
  

	 	(i)	an offerer (other than the Corporation) purchases shares of Corning Common Stock pursuant to a tender or exchange offer for such shares; 

  

	 	(ii)	any person (as such term is used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) is or becomes the beneficial owner, directly or indirectly, of the
Corporation’s securities representing 50% or more of the combined voting power of Corporation’s then outstanding securities; 

  

	 	(iii)	the membership of the Corporation’s Board of Directors changes as the result of a contested election or elections, such that a majority of the individuals who are Directors at
any particular time were initially placed on the Board of Directors as a result of such a contested election or elections occurring within the previous two years; or 

  

	 	(iv)	The consummation of a merger in which the Corporation is not the surviving corporation, consolidation, sale or disposition of all or substantially all of the Corporation’s
assets or a plan of partial or complete liquidation approved by the Corporation’s shareholders. 

  

	6.	Exercise Procedures. An Option may be exercised in accordance with the procedures specified by the Corporation from time to time. 

  

	7.	Discretionary Nature and Acceptance of Award. By accepting this Award, you agree to be bound by the terms of this Agreement and acknowledge that:

  

	 	(a)	The Corporation (and not your local employer) is granting your stock options. Furthermore, this agreement is not derived from any preexisting labor relationship between you and
the Corporation, but rather from a mercantile relationship. 

  

	 	(b)	The Corporation will administer the Plan from outside your country of residence and that United States law will govern all stock options granted under the Plan.

  

	 	(c)	That benefits and rights provided under the Plan are wholly discretionary and, although provided by the Corporation, do not constitute regular or periodic payments.

  

	 	(d)	The benefits and rights provided under the Plan are not to be considered part of your salary or compensation under your employment with your local employer for purposes of
calculating any severance, resignation, redundancy or other end of service payments, vacation, bonuses, long-term service awards, indemnification, pension or retirement benefits, or any other payments, benefits or rights of any kind. You waive any
and all rights to compensation or damages as a result of the termination of employment with your local employer for any reason whatsoever insofar as those rights result, or may result, from the loss or diminution in value of such rights under the
Plan or your ceasing to have any rights under, or ceasing to be entitled to any rights under, the Plan as a result of such termination. 

  

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	 	(e)	The grant of stock options hereunder, and any future grant of stock options under the Plan, is entirely voluntary, and at the complete discretion of the
Corporation. Neither the grant of the stock options nor any future grant of any stock options by the Corporation shall be deemed to create any obligation to grant any further stock options, whether or not such a reservation
is explicitly stated at the time of such a grant. The Corporation has the right, at any time and/or on an annual basis, to amend, suspend or terminate the Plan; provided, however, that no such amendment, suspension, or termination shall adversely
affect your rights hereunder. 

  

	 	(f)	The Plan shall not be deemed to constitute, and shall not be construed by you to constitute, part of the terms and conditions of employment. The Corporation shall not incur any
liability of any kind to you as a result of any change or amendment, or any cancellation, of the Plan at any time. 

  

	 	(g)	Participation in the Plan shall not be deemed to constitute, and shall not be deemed by you to constitute, an employment or labor relationship of any kind with the Corporation.

  

	8.	Modification. Any modification of the terms of this agreement must be approved, and any dispute, disagreement or matter of interpretation which shall arise under this
agreement, shall be finally determined by the Corporation’s Compensation Committee in its absolute discretion. 

  

 173Form of Corning Incorporated Incentive Stock Right Agreement

 EXHIBIT 10.51 
 Corporate Performance Plan For 2009 
 CORNING INCORPORATED 
 INCENTIVE STOCK RIGHT AGREEMENT 
 (Incentive Stock Right) 
 (Terms and Conditions) 
 This Incentive Stock Right Agreement (“Agreement”) dated                      between Corning
Incorporated (“Corning” or the “Corporation”) and the employee named below is subject in all respects to Corning’s 2005 Employee Equity Participation Program as amended, a copy of which may be obtained from the
Corporation’s Secretary at One Riverfront Plaza, Corning, New York 14831. 
  

	1.	Awards of Rights. Corning hereby awards to the below-named employee (the “Employee”) the number of Incentive Stock Rights (the “Incentive Stock
Rights”) indicated below. 

  

					
	 Employee
	  	 Number of
 Incentive Stock Rights
	  	 Employee Number

		  		  	

 Each Incentive Stock Right shall entitle the Employee to receive from Corning one share of
Corning’s common stock, par value $.50 per share (“Common Stock”); provided that the Employee satisfies both the performance based and service based vesting requirements set forth in Sections 3 and 4. Such shares, if any, shall be
paid to the Employee at the time set forth in Section 5. 
  

	2.	Non-Transferability. The Incentive Stock Rights may not be sold, assigned, transferred, pledged or otherwise encumbered by or on behalf of or for the benefit of the
Employee. 

  

	3.	Performance Based Vesting Requirement. Incentive Stock Rights are subject to both performance based and service based vesting requirements. 

 

	 	(a)	Under the performance based vesting requirement, the Employee shall “earn” a number of Incentive Stock Rights based upon the extent to which the Compensation Committee of
Corning’s Board of Directors (the “Committee”) determines that the performance goals for the 2009 fiscal year (the “Performance Period”) set forth in the schedule titled “2009 Corporate Performance Plan Financial
Goals” have been met. 

  

	 	(b)	If during the Performance Period the Employee’s employment relationship with the Corporation is terminated for any reason (other than a termination as described in
Section 4(b)(i) or 4(f) below, both of which result in all Incentive Stock Rights being forfeited), the number of Incentive Stock Rights which the Employee may be eligible to “earn” shall be reduced by a ratio the numerator of which
is 12 minus the number of full calendar months the Employee was actively employed during 2009 and the denominator of which is 12. The number of Incentive Stock Rights that have not been “earned” under the performance based vesting
requirement shall be forfeited. 

  

	 	(c)	An Employee shall not vest in his/her right to receive an Incentive Stock Right that has been “earned” as a result of the Corporation’s performance unless the
Employee also satisfies the service based vesting requirements set forth in Section 4. 

  

	4.	Service Based Vesting Requirement. Subject to the exceptions set forth below, the Employee must remain in continuous employment with Corning until February 1,
2012, to satisfy the service based vesting requirement. If the Employee’s employment with Corning terminates before February 1, 2012, any “earned” Incentive Stock Rights, as described in Section 3 above, as of the date of
the Employee’s employment terminates shall be treated as follows: 

  

	 	(a)	Retirement at or After Age 55 – If the Employee terminates employment on account of normal or early retirement on or after age 55 after the Performance Period, then the
service based vesting requirement shall be satisfied with respect to the “earned” Incentive Stock Rights. 

  

	 	(b)	Involuntary Termination (not “for cause”) – If the Employee’s employment is involuntarily terminated and it is not “for cause”:

  

	 	(i)	during the Performance Period, then all of the Incentive Stock Rights shall be forfeited; or 

  

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	 	(ii)	after the Performance Period, then the service based vesting requirement shall be satisfied as of the Employee’s termination date for the prorated number of Incentive Stock
Rights “earned”, calculated as the total number of Incentive Stock Rights “earned” multiplied by a ratio with the numerator equal to the number of full calendar months from the start of the Performance Period through the
Employee’s termination date, and the denominator of which is 36. 

 For purposes of this Agreement, “for cause”
shall mean the Employee’s: 
  

	 	•	 	 conviction of a felony or conviction of a misdemeanor involving moral turpitude (from which no further appeals have been or can be taken);

	 	•	 	 a material breach of Corning’s Code of Conduct; 

	 	•	 	 gross abdication of his duties as an employee of the Corporation (other than due to the Employee’s illness or personal family problems), which conduct remains
uncured by the Employee for a period of at least 30 days following written notice thereof to the Employee by the Corporation, in each case as determined in good faith by the Corporation; or 

	 	•	 	 misappropriation of Corning’s assets, personal dishonesty or business conduct which causes material or potentially material financial or reputational harm for
the Corporation. For purposes of this Section 4(b), no act or failure to act on the Employee’s part shall be deemed to be a termination for cause if done, or omitted to be done, in good faith, and with the reasonable belief that the action
or omission was in the best interests of the Corporation. 

  

	 	(c)	Death – If the Employee dies while employed after the Performance Period, then the service based vesting requirement shall be satisfied with respect to the
“earned” Incentive Stock Rights. If Employee’s death occurs during the Performance Period, then the service based vesting requirement shall be satisfied with respect to the number of “earned” Incentive Stock Rights prorated
in accordance with Section 3 above. 

  

	 	(d)	Disability – If the Employee’s employment is terminated after the Performance Period as a result of a total and permanent disability (as that term is defined in the
Corporation’s long-term disability plan(s)), then the service based vesting requirement shall be satisfied with respect to the “earned” Incentive Stock Rights. If Employee’s total and permanent disability occurs during the
Performance Period, then the service based vesting requirement shall be satisfied with respect to the number of “earned” Incentive Stock Rights prorated in accordance with Section 3 above. 

  

	 	(e)	Divestiture, etc. – If the Employee’s employment is terminated due to a reduction in force, divestiture or discontinuance of certain of the Corporation’s
operations after the Performance Period, then the service based vesting requirement shall be satisfied with respect to the number of “earned” Incentive Stock Rights. If the Employee’s termination of employment under this subsection
occurs during the Performance Period, then the service based vesting requirement shall be satisfied with respect to the number of “earned” Incentive Stock Rights prorated in accordance with Section 3 above. 

 

	 	(f)	Voluntary Termination, Termination for Cause, Dereliction of Duties or Harmful Acts – If the Employee voluntarily leaves the employ of the Corporation, or if the
Employee’s employment shall be terminated “for cause”, or if the Employee causes the Corporation to suffer financial harm or damage to its reputation through (i) dishonesty, (ii) material violation of the Corporation’s
standards of ethics or conduct, or (iii) material deviation from the duties owed the Corporation by the Employee, all of the Incentive Stock Rights shall be forfeited as of the Employee’s termination date. 

  

	 	(g)	Change of Control – In the event of a “change of control” of Corning Incorporated, the provisions of Section 4 shall not be applicable and all
nonforfeited Incentive Stock Rights shall be “earned” and fully vest. 

 For purposes of this Agreement, the term
“change of control” shall mean an event that is “a change in the ownership or effective control of the Corporation, or in the ownership of a substantial portion of the assets of the Corporation” within the meaning of
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and that also falls within one of the following circumstances: 
  

	 	(i)	an offerer (other than Corning) purchases shares of Corning Common Stock pursuant to a tender or exchange offer for such shares; 

  

	 	(ii)	any person (as such term is used in Sections 13(d) and 14(d) (2) of the Securities Exchange Act of 1934) is or becomes the beneficial owner, directly or indirectly, of Corning
securities representing 50% or more of the combined voting power of Corning’s then outstanding securities; 

  

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	 	(iii)	the membership of Corning’s Board of Directors changes as the result of a contested election or elections, such that a majority of the individuals who are Directors at any
particular time were initially placed on the Board of Directors as a result of such a contested election or elections occurring within the previous two years; or 

  

	 	(iv)	the consummation of a merger in which the Corporation is not the surviving corporation, consolidation, sale or disposition of all or substantially all of Corning’s assets or a
plan of partial or complete liquidation approved by the Corporation’s shareholders. 

  

	5.	Time of Payment. “Earned” Incentive Stock Rights that have vested shall be paid as of the earliest of the following dates: 

  

	 	(a)	Death or Separation from Service after February 3, 2010 – If the Employee dies or “separates from service” (within the meaning of Section 409A of the
Code) from Corning after February 3, 2010, the Employee’s “earned” Incentive Stock Rights that are vested as of the date of the Employee’s death or separation from service shall be paid as of and within 60 days after the
Employee dies or separates from service. 

  

	 	(b)	Death or Separation from Service on or before February 3, 2010—If the Employee dies or “separates from service” (within the meaning of Section 409A
of the Code) from Corning on or before February 3, 2010, the Employee’s “earned” Incentive Stock Rights that are vested as of the date of the Employee’s death or separation from service shall be paid as of and within 60 days
after February 3, 2010. 

  

	 	(c)	February 1, 2012. If the Employee does not “separate from service” (within the meaning of Section 409A of the Code) from Corning before February 1,
2012, the Employee’s “earned” Incentive Stock Rights that are vested as of February 1, 2012, shall be paid as of and within 60 days after February 1, 2012. 

  

	 	(d)	Change of Control – In the event of a Change of Control, the Employee’s “earned” Incentive Stock Rights that are vested as of the date of the Change of
Control shall be paid as of and within 30 days following the date of the Change of Control. 

 Notwithstanding the foregoing, if
an amount becomes payable under the above rules due to the Employee incurring a “separation from service” (within the meaning of Section 409A of the Code), and the Employee is a “specified employee” (within the meaning of
Section 409A of the Code) as of the date of separation from service, the Employee’s “earned” Incentive Stock Rights that are vested as of the date of the Employee’s separation from service shall be paid by the 15th day of
the seventh month following the date the Employee separates from service. 
 All Incentive Stock Rights that have not vested as of the date
any Incentive Stock Right is paid shall be forfeited. 
  

	6.	Form of Payment. At the time specified in Section 5, Corning shall deliver to the Employee a certificate or certificates, or at the election of the Corporation
make an appropriate book-entry, for the number of shares of Common Stock equal to the number of “earned” Incentive Stock Rights that are vested. An Employee shall have no further rights with regard to the Incentive Stock Rights once the
underlying shares of Common Stock have been delivered. The number of shares of Common Stock which Corning must deliver pursuant to this Agreement shall be reduced by the value of all taxes which the Corporation is required by law to withhold by
reason of such delivery. 

  

	7.	Voting and Dividend Rights. Because the Incentive Stock Rights do not constitute shares of Common Stock (but rather just the right to receive shares in the future upon
satisfaction of the specified performance and service based vesting conditions), the grant or vesting of Incentive Stock Rights shall not provide the Employee with any shareholder rights (such as voting or dividend rights) until the Incentive Stock
Rights are converted to shares of Common Stock. 

  

	8.	Dividend Equivalents. Prior to the payment of shares of Common Stock as set forth in Section 5, the Employee’s “earned” Incentive Stock Rights
shall be credited with dividend equivalents in a manner that is consistent with the manner in which dividends are paid on shares of Common Stock. Such dividend equivalents will only be credited for Incentive Stock Rights that have been
“earned” (i.e., Incentive Stock Rights that have satisfied the performance based vesting requirement). Dividend equivalents shall be paid at the same time that dividends are paid on Common Stock; provided that dividend equivalents must be
paid within the calendar year in which they are credited. However, dividend equivalents credited for 2009 on “earned” Incentive Stock Rights shall be paid after February 3, 2010 and before March 15, 2010. The Corporation shall
establish rules and administrative processes that apply to dividend equivalents that shall be binding on the Employee. No dividend equivalents shall be paid on Incentive Stock Rights that have been forfeited or paid. 

  

	9.	Transfers. If the Employee is transferred from Corning to a subsidiary (being a 50% or greater owned entity), or vice versa or from one subsidiary to another, the
Employee’s employment shall not be deemed to have terminated. 

  

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	10.	Section 409A and Unfunded Plan. This Agreement is intended to comply with the requirements of Section 409A of the Code and shall be interpreted and
administered in accordance with that intent. If any provision of the agreement would otherwise conflict with or frustrate this intent, that provision will be interpreted and deemed amended so as to avoid the conflict. This Agreement is an unfunded
deferred compensation plan. 

  

	11.	Modification/Interpretation. Any modification of the terms of this Agreement must be approved, and any dispute, disagreement or matter of interpretation which shall
arise under this Agreement shall be finally determined by the Committee in its absolute discretion. 

 IN WITNESS WHEREOF, this
Agreement has been duly executed by Corning and the Employee. 
  

									
	CORNING INCORPORATED	 		 	EMPLOYEE
					
	By:	 	  
	 		 	By:	 	  

		 	Kirk P. Gregg	 		 		 	
		 	Executive Vice President & Chief Administrative Officer	 		 	Address:	 	  

		 		 		 		 	  

  

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