Document:

EX-4.1

 Exhibit 4.1 

CORNING INCORPORATED 

2019 EQUITY PLAN FOR NON-EMPLOYEE DIRECTORS 

 

	1.	 THE PLAN 

a. Purpose. This Corning Incorporated 2019 Equity Plan for Non-Employee Directors (as amended
from time to time, the “Plan”) is intended to benefit the shareholders of Corning Incorporated (the “Corporation”) by providing a means to attract, retain and reward
non-employee directors of the Corporation (“Directors”) who can and do contribute to the longer-term financial success of the Corporation and to increase their proprietary interest in the
Corporation. 
 b. Effective Date. The Plan replaces the 2010 Equity Plan For Non-Employee
Directors and will become effective upon its approval by the affirmative vote of a majority of the votes cast at the Corporation’s 2019 Annual Meeting of Shareholders and shall continue until it expires on the tenth (10th) anniversary of its effective date or is replaced by another plan. 
  

	2.	 ADMINISTRATION 

a. Committee. The Plan shall be administered by the Compensation Committee (the “Committee”) of the Board of Directors
of the Corporation (the “Board”), provided, however, that from time to time the Board may assume, at its sole discretion, administration of the Plan. 

b. Awards. The Committee may grant awards (collectively, “Awards”) under the Plan of shares of the Corporation’s
common stock, par value $0.50 per share, (“Shares”) or options to purchase Shares, in such type and magnitude, and subject to such terms and conditions (including vesting and forfeiture rules or pursuant to a deferred compensation
plan), as it shall determine. 
 c. Powers and Authority. The Committee’s powers and authority under the Plan include, but are
not limited to (i) permitting transferability of Awards to family members, trusts and partnerships for the benefit of participants and their family members, and as charitable donations; (ii) interpreting the Plan’s provisions; and
(iii) administering the Plan in a manner that is consistent with its purpose. The Committee’s decisions in carrying out the Plan and its interpretation and construction of any provisions of the Plan or any Award, agreement or other
instrument executed under the Plan shall be final and binding upon all persons. No members of the Committee shall be liable for any action or determination made in good faith in administering the Plan. 

 

	3.	 ELIGIBILITY 

Only Directors of the Corporation who, at the time of grant of an Award, are not employees of the Corporation shall be eligible to receive
Awards under the Plan. 
  

	4.	 SHARES SUBJECT TO THE PLAN, ADJUSTMENTS AND AWARD LIMITS 

a. Maximum Shares Available for Delivery. Subject to adjustments under Section 4(b), the maximum number of Shares that may be
delivered pursuant to Awards under the Plan, including pursuant to any deferred compensation plan for Directors shall be 1,500,000. 

  
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 b. Adjustments for Corporate Transactions. 

(i) The Committee shall determine whether a corporate transaction has affected the price per Share or the number of Shares
outstanding such that an adjustment or adjustments to outstanding Awards are required to preserve (or prevent enlargement of) the benefits or potential benefits intended to be made available under the Plan at the time of grant of an Award. For this
purpose a corporate transaction will include, but is not limited to, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination or exchange of shares, or other similar occurrence. In the event of such a corporate transaction, the Committee shall, in such manner as the Committee deems equitable, adjust (i) the
number and kind of shares which may be delivered under the Plan pursuant to Section 4(a); (ii) the number and kind of shares subject to outstanding Awards; and (iii) the exercise price of outstanding Options. 

(ii) In the event that the Corporation is not the surviving corporation of a merger, consolidation or amalgamation with another
corporation, or in the event of a liquidation or reorganization of the Corporation, and in the absence of the surviving corporation’s assumption of outstanding Awards made under the Plan, the Committee may provide for appropriate adjustments
and/or settlements of such Awards either at the time of grant or at a subsequent date. The Committee may also provide for adjustments and/or settlements of outstanding Awards as it deems appropriate and consistent with the Plan’s purpose in the
event of any other change in control of the Corporation. 
 c. Annual Award Limits. The maximum number of Shares subject to Awards
granted during a single fiscal year to any Director, taken together with any cash fees paid during the fiscal year to the Director in respect of the Director’s service as a member of the Board during such year (including service as a member or
chair of any committees of the Board), shall not exceed $700,000 in total value (calculating the value of any such Awards based on the grant date fair value of such Awards for financial reporting purposes). The independent members of the Board may
make exceptions to this limit for a non-executive chair of the Board, provided that the Director receiving such additional compensation may not participate in the decision to award such compensation. 

  

	5.	 TYPES OF AWARDS 

a. General. The types of Awards that may be granted under the Plan include: 

(i) Stock Option. A stock option (“Option”) represents a right to purchase a specified number of Shares
during a specified period at a price per Share which is no less than one hundred percent (100%) of the closing price of a Share on the New York Stock Exchange as of the grant date, as determined by the Committee. No Option shall be
“repriced” (i.e., by reducing the exercise price, cancelling the Option in exchange for another Option with a lower exercise price, or cancelling the Option for cash or another Award, other than in connection with a change in control or an
equitable adjustment under Section 4(b) above) without shareholder approval. The Shares covered by an Option may be purchased by means of a cash payment of the exercise price or such other means as the Committee may from time to time permit,
including, without limitation, one or more of: (i) 

  
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tendering Shares valued using the market price at the time of exercise, (ii) authorizing a third party to sell Shares (or a sufficient portion thereof) acquired upon exercise of an Option
and to remit to the Corporation a sufficient portion of the sale proceeds to pay the exercise price for all the Shares acquired through such exercise prior to the issuance of the Shares by the Corporation; or (iii) any combination of the above.
All Options shall be non-qualified options. 
 No Option granted under the Plan will have an
expiration date later than ten years after its grant date. Unless otherwise provided by the Committee, each Option will terminate in its entirety on the earliest of (1) the third anniversary of the date on which the grantee ceased to be a
Director, (2) the date on which written notice of termination of the Option is given to the Director (or such later date as is specified in that notice), and (3) the Option’s expiration date. 

(ii) Stock Award. A stock award is a grant of Shares or a right to receive Shares (or their cash equivalent or a
combination of both) in the future (“Stock Award”), subject to such conditions, restrictions and contingencies as the Committee shall determine. 
  

	6.	 STOCK AWARD SETTLEMENTS AND PAYMENTS 

a. Dividends and Dividend Equivalents. The Committee, in its discretion, will determine whether dividends or dividend equivalent
payments will be paid or credited to a Director’s account, prior to the time that a Stock Award becomes vested. 
 b. Payments.
Stock Awards may be settled through cash payments, the delivery of Shares, the granting of Awards or a combination thereof, as the Committee shall determine. Any Award settlement may be subject to such conditions, restrictions and contingencies as
the Committee shall determine. 
  

	7.	 PLAN AMENDMENT AND TERMINATION 

a. Amendments. Any Plan amendments will comply with the New York Stock Exchange listing requirements and any applicable legal
requirements. The Board may amend this Plan as it deems necessary and appropriate to better achieve the Plan’s purpose, provided, however, that: (i) the Share limitation set forth in Section 4(a) cannot be increased and (ii) an
Option cannot be “repriced” as set forth in Section 5 unless such an amendment is properly approved by the Corporation’s shareholders. Notwithstanding anything to the contrary in the Plan, the Board may amend the Plan in such
manner as may be necessary to enable the Plan to achieve its stated purposes in any jurisdiction in a tax- efficient manner and in compliance with local rules and regulations. 

b. Plan Suspension and Termination. The Board may suspend or terminate this Plan at any time. Any such suspension or termination shall
not of itself materially impair any outstanding Award granted under the Plan or the applicable Director’s rights regarding such Award. 

  
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	8.	 MISCELLANEOUS 

a. No Individual Rights. No person shall have any claim or right to be granted an Award under the Plan. Neither the Plan nor any action
taken hereunder shall be construed as giving any Director the right to be re-nominated or to continue to serve the Corporation, any subsidiary or related entity, in such capacity. 

b. Unfunded Plan. The Plan shall be unfunded and shall not create (or be construed to create) a trust or a separate fund or funds. The
Plan shall not establish any fiduciary relationship between the Corporation and any Director or beneficiary of a Director. To the extent any person holds any obligation of the Corporation by virtue of an Award granted under the Plan, such obligation
shall merely constitute a general unsecured liability of the Corporation and accordingly shall not confer upon such person any right, title or interest in any assets of the Corporation. 

c. No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall
determine whether cash shall be paid or transferred in lieu of any fractional Shares, or whether such fractional Shares or any rights thereto shall be canceled. 

d. Governing Law. The validity, construction and effect of the Plan and any Award, agreement or other instrument issued under it shall
be determined in accordance with the laws of the State of New York without reference to principles of conflict of law. 
 e. Section
409A. The Corporation intends that all Awards be structured to comply with, or be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations issued thereunder
(“Section 409A”), such that no adverse tax consequences, interest, or penalties under Section 409A apply. Notwithstanding anything in the Plan or any agreement evidencing the grant of an Award to the
contrary, the Committee may, without a participant’s consent, amend this Plan or Awards, adopt policies and procedures, or take any other actions (including amendments, policies, procedures and retroactive actions) as are necessary or
appropriate to preserve the intended tax treatment of Awards, including any such actions intended to (A) exempt this Plan or any Award from Section 409A, or (B) comply with Section 409A, including regulations, guidance,
compliance programs and other interpretative authority that may be issued after an Award’s grant date. The Corporation makes no representations or warranties as to an Award’s tax treatment under Section 409A or otherwise. The
Corporation will have no obligation under this Section 8(e) or otherwise to avoid the taxes, penalties or interest under Section 409A with respect to any Award and will have no liability to any participant or any other person if any Award,
compensation or other benefits under the Plan are determined to constitute noncompliant “nonqualified deferred compensation” subject to taxes, penalties or interest under Section 409A. 

  
 4Exhibit

Exhibit 10.01

EXIT AGREEMENT

This Exit Agreement (the “Agreement”) is made and entered as of the Effective Date (as defined below), between Kosmos Energy, LLC (“Company”) and Brian F. Maxted (“Retiree” and, together with Company, the “Parties”). In connection with this Agreement, the Parties acknowledge that (a) Company is a premier international oil and gas exploration and production company that primarily operates in underexplored regions along the Atlantic Margin (the “Business”), (b) Retiree is age 60 or over, has been employed by Company for over five years, and has served as a member of Company’s Senior Leadership Team, (c) Retiree initiated the retirement process in accordance with Company guidelines, and (d) the Parties desire to enter into this Agreement to protect stockholder relations, goodwill, and other legitimate interests (together, the “Interests”).  Accordingly, and in consideration of the mutual promises below and for other valuable consideration, the Parties agree to the following terms:

1.Retirement from Employment.  Retiree acknowledges that Retiree has retired from Retiree’s employment with Company as Chief Exploration Officer effective 15 February 2019 (the “Retirement Date”).  Retiree will receive certain Vesting Benefits (as defined below) (together, the “Post-Termination Benefit”) provided that Retiree executes this Agreement and does not revoke Retiree’s acceptance.
  
2.Post-Termination Benefit.  The following benefits comprise the Post-Termination Benefit:

		
	a. 
	Vesting Benefits.  Exhibit A hereto sets forth each outstanding restricted share unit (“RSU”) award and performance share unit (“PSU”) award previously granted to Retiree under the Kosmos Energy Ltd. Long Term Incentive Plan (as amended from time to time, the “LTIP”) and described in applicable award agreements (“Award Agreements”). With respect to each outstanding RSU award and PSU award held by Retiree that, as of the Retirement Date, has been outstanding for at least one year following the applicable grant date (collectively, the “Eligible Awards”), Company hereby agrees to amend and waive, in accordance with the terms of the LTIP and the individual RSU and PSU Award Agreements granted to Retiree thereunder, all or any portion of the continued service-based vesting conditions applicable to such Eligible Awards (the “Vesting Benefits”) and delete any forfeiture requirements based on Retiree’s termination of service; provided that (i) in the case of any Eligible Award that is subject to performance-vesting conditions, the vesting of such award will remain subject to the satisfaction of the applicable performance-vesting conditions in accordance with its terms, (ii) the Eligible Awards will remain subject to all other terms and conditions applicable to such Eligible Awards pursuant to the LTIP and the applicable Award Agreements, and (iii) the Eligible Awards will convert into common stock of Company in accordance with their original vesting/settlement schedule (the latest date on which any Eligible Award (or any portion thereof) will convert into common stock of Company, the “Last Full Vest Date”). 

Exit Agreement
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Any other provision of the LTIP to the contrary notwithstanding, the Vesting Benefits will apply only if Retiree complies with all terms and conditions of this Agreement.  Pursuant to Retiree’s request, Company will withhold, in accordance with Section 2(e) of the Award Agreements, the estimated number of shares necessary from each vesting of an Eligible Award to allow the Retiree to satisfy any applicable withholding tax requirements.       

		
	b.
	General Release.  In exchange for the Post-Termination Benefit, Retiree releases, acquits, and forever discharges (i) Company, (ii) any parent, subsidiary, or affiliated entity of Company, (iii) any current or former officer, stockholder, member, director, partner, agent, manager, employee, representative, insurer, or attorney of the entities described in (i) or (ii), (iv) any employee benefit plan sponsored or administered by any person or entity described in (i), (ii), or (iii), and (v) any successor or assign of any person or entity described in (i), (ii), (iii), or (iv) (collectively, the “Company Parties”) from, and waive to the maximum extent permitted by applicable law, any and all claims, liabilities, demands, and causes of action of whatever character, whether known or unknown, fixed or contingent, or vicarious, derivative, or direct, that Retiree may have or claim against Company or any of the other Company Parties.  Retiree understands that this general release includes, but is not limited to, any and all claims arising under federal, state, or local laws prohibiting employment discrimination, including the Age Discrimination in Employment Act, or other claims growing out of, resulting from, or connected in any way with Retiree’s employment with or retirement from Company.  Retiree understands that this Agreement does not waive any rights or claims against Company or any of the other Company Parties that may arise after the date on which Retiree signs it.  Retiree further understands that nothing in this Agreement waives (i) any benefits to which Retiree has a vested entitlement under the terms of the applicable employee benefit plans established by Company, (ii) any rights or claims arising after the Effective Date, or (iii) any right or claim to indemnification or defense of any claims arising out Retiree’s prior employment with the Company.

		
	c.
	Effective Date.  Retiree understands that the terms of this Agreement will become effective and enforceable eight days after Retiree signs it (the “Effective Date”), unless before then Retiree revokes Retiree’s acceptance in writing and delivers Retiree’s written revocation to Amy Wynn-Steffek by email to awynn-steffek@kosmosenergy.com or at the address above, in which case Retiree will not be entitled to receive the Post-Termination Benefit.  Retiree acknowledges and agrees that Company has no legal obligation to provide the Post-Termination Benefit to Retiree.  Signing this Agreement constitutes Retiree’s agreement to all terms and conditions set forth in it and is in consideration of Company’s agreement to provide the Post-Termination Benefit.

		
	d.
	Permitted Activities.  Retiree understands that nothing in this Agreement precludes Retiree from (i) voluntarily filing a charge or complaint with, providing truthful information to, or cooperating with an investigation conducted by a government 

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Exit Agreement
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agency, (ii) providing information to Retiree’s attorney (if any), or (iii) making statements under oath or giving truthful testimony in a legal proceeding or as required by law or valid legal process, such as by a subpoena or court order.  Retiree further understands that Retiree is not required to notify Company before or if Retiree engages in any such permitted activities.

		
	e.
	Jury Waiver.  Retiree irrevocably waives the right to trial by jury with respect to any claim or cause of action against Company or any of the other Company Parties arising from Retiree’s employment with or retirement from Company or from this Agreement (either for alleged breach or enforcement).

		
	f.
	Voluntary Agreement.  Retiree acknowledges that (i) Retiree read this Agreement (ii) by this paragraph, Company specifically has advised Retiree to consult an attorney and Retiree has had the opportunity to consult an attorney, (iii) Retiree has had at least 21 days to consider and fully understand the meaning and effect of Retiree’s action in signing this Agreement, (iv) Retiree’s signing of this Agreement is knowing, voluntary, and based solely on Retiree’s own judgment in consultation with Retiree’s attorney, if any, and (v) Retiree is not relying on any written or oral statement or promise other than as set out in this Agreement or the Advisory Agreement.

		
	g.
	Miscellaneous.  This Agreement contains and constitutes the entire understanding and agreement between Company and Retiree with respect to its subject matter and may not be released, discharged, abandoned, supplemented, changed, or modified in any manner except by a writing of concurrent or subsequent date signed by both an authorized Company official and Retiree.  This Agreement is governed by and construed in accordance with the laws of the State of Texas without regard to its rules regarding conflict of laws.  Exclusive venue for purposes of any dispute, controversy, claim, or cause of action between the Parties concerning, arising out of, or related to this Agreement or Retiree’s employment with or retirement from Company is in any state district of competent jurisdiction presiding over Dallas County, Texas.  Retiree further consents to receive service of process related to any such action by any method permitted by statute or rule and—whether or not expressly authorized by statute or rule—through any email or social-media account established, maintained, or used by Retiree.

	
						
	 
	RETIREE

/s/ Brian F. Maxted
	 
	 
	KOSMOS ENERGY, LLC

/s/ Jason E. Doughty
	 

	 
	Brian F. Maxted

	 
	 
	By: Jason E. Doughty 

	 

	 
	Date: 1 March 2019
	 
	 
	Date:  1 March 2019
	 

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EXHIBIT A

	
				
	Type of Eligible Award
	Grant Date
	Vesting Date
	Number of Shares

	RSU
	January 23, 2017
	January 1, 2020
	29,834

	PSU
	January 23, 2017
	January 3, 2020
	134,500*

	RSU
	January 31, 2018
	January 2, 2020
	29,833

	RSU
	January 31, 2018
	January 2, 2021
	29,833

	PSU
	January 31, 2018
	January 4, 2021
	134,500*

*For PSUs, reflects the target number of shares underlying the award. The actual number of shares that will vest will be determined based on actual achievement of the applicable performance goals and will range between 0% and 200% of the target number of shares underlying such PSU award.

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