Document:

Compensation Arrangement for Jeffrey W. Evenson dated March 8, 2011

 Exhibit 10.61 
 March 8, 2011 
 Dr. Jeffrey Evenson 

17 Glenoe Road 
 Chestnut Hill, MA 02467-2342

 Dear Jeff: 
 As a result of your
interviews with Corning, we are pleased to offer you a position as Senior Vice President & Operations Chief of Staff reporting to Wendell Weeks. In this role, you will be a member of the Management Committee as we begin the
transition with Pam’s pending retirement. Your work location will be Corning, NY starting on or around June 13, 2011, with a further discussion regarding relocation below. 
 Base Salary & Annual Cash Bonuses 
 Your initial salary will be $425,000
per year, payable bi-weekly. Executive salary reviews are currently scheduled to occur around January 1 each year; your first scheduled review will occur in January 2012. Merit budgets are determined annually based on many factors including
market data and corporate business conditions in effect at that time. 
 In addition to your base salary, you will be eligible to participate in
a Corning GoalSharing Bonus Program, which is based on the corporate average of all such plans in Corning. Annual cash awards earned under the program may range from 0% to 10% of your annual base salary. In general, this annual bonus will be
pro-rated for your first year of employment and paid in February to participants who are employed by Corning on December 31 of the prior year, in accordance with Corning’s GoalSharing policies. 

You will also be eligible to participate in the Performance Incentive Plan. As a member of the Management Committee, this cash bonus plan is based 100%
on corporate financial performance. Your annual target opportunity will be 65% of your base salary. Your actual cash award amount may range between 0% and 200% of target and will be pro-rated for time worked during your first year of employment.
Awards earned under this program will be paid in March to participants who are employed by Corning on December 31 of the prior year, based on plan rules. 

  
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 Long-Term Incentives and Stock Options 

In this role, you will be an executive of Corning. Annual grants of long-term incentives to executives are approved once a year in December or January.
Since you will be joining Corning after the 2011 grants were approved, you will be eligible for prorated awards in 2011 and full year participation in 2012. 
 The current plan design includes a mix of cash performance units (50% of target value) tied to corporate financial performance, time-based restricted stock units (25% of target value) not tied to
performance and stock options (25% of target value). The target value of your 2011 long-term incentives will be $650,000 and the 2012 full year target value of these long-term incentive awards will be $1,100,000. The actual number of restricted
shares and stock option to be awarded under the 2011 program will be based on the target value of each component and the stock price in effect on the first business day of the month following your start date with Corning. Awards for 2012 will be
made on the same schedule as all other executives of Corning. 
 Special Cash Payments 

The following special cash payments are intended to replace the compensation you will forfeit from your current employer as a result of accepting this
offer. In addition, the cash payments have been designed to assist you in bridging the gap in the cash compensation & deferred compensation distributions you would receive over the next three years (compared to your current employer) until
Corning’s long-term incentives begin to vest. You will be provided with the following special cash payments totaling $3,200,000: 
  

	•	 	 $800,000 to be paid within 60 days of your start date with Corning in 2011 

	•	 	 $800,000 to be paid in December 2011 

	•	 	 $800,000 to be paid in March 2012 

	•	 	 $800,000 to be paid in March 2013 

 As special cash payments, none of these payments are considered to be eligible earnings for purposes of any other company-provided compensation or benefit plan. 

In the event you are involuntarily terminated (not for cause), die, or become permanently disabled, you will be entitled to receive any unpaid
installments of the Special Cash Payments described above. 
 If you voluntarily resign from Corning, then any unpaid Special Cash Payments
would be forfeited. 
 If you voluntarily separate from Corning with the mutual consent of the Compensation Committee of the Corning Board of
Directors, then any cash severance benefits as described below in “Additional Senior Officer Benefits” you would be eligible for will first be offset by any unpaid installments of the Special Cash Payments before determining if any
additional cash severance benefits would be payable. 
 Additional Senior Officer Benefits 

As a Senior Vice President of Corning, you are eligible for the following additional benefits: 

 

	 	•	 	 Officer severance agreement in the event you are involuntarily terminated, not for cause. In general, the plan provides for severance benefits equal to
2x base + target bonuses. 

  
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	 	•	 	 Officer Change-in-Control agreement that provides severance and other protection in the event of a Change-in-Control of Corning Incorporated.

  

	 	•	 	 Eligibility for an executive supplemental pension plan benefit that generally provides pension benefits equal to 2% of Final Average Pay per year of
service up to a maximum benefit of 50% of Final Average Pay after 25 years. You must work for Corning for 10 years to become vested in this benefit. 

  

	 	•	 	 Eligibility for an annual Executive Allowance that provides for limited personal use of the corporate aircraft and payment of home security fees. We
will provide you with additional details about this program. 

 Your annual (12 month) allowance of flight
hours will be 30 hours (which includes both the time you are on the plane and any time spent for any empty plane repositioning flights). Annual flight hours are calculated on a fiscal year of November 1 through October 31. In order to
provide you with some additional special relocation assistance in 2011, your annual allowance of 30 hours will not be prorated for time worked in 2011. You are responsible for any taxes on the imputed income resulting from use of this program with
imputed income calculated in accordance with IRS rules and regulations. 
 Vacation 

As a mid-career hire, you will be entitle to an annual vacation allowance commencing at four (4) weeks per year. 

Relocation 
 In this role, you
will be located in Corning, NY. We understand that you may not be able to relocate immediately, so we will provide you with a one-time payment of $50,000 in July 2011 to assist you with temporary living and travel costs until such time as you
complete your relocation to Corning. 
 In addition, we understand that your investment in your home may be significantly more than the current
appraised value of the home. Under the Corning relocation program, we would acquire your house at its appraised value (based on independent appraisals by 2 or 3 firms we will select), or you may decide to sell the home on your own. 

To assist you with the difference in value between your investment and its appraised value, Corning will also provide you with
additional special relocation assistance capped at up to $750,000 as described below. You will receive a taxable cash payment of $350,000 in July 2011 and another taxable cash payment of $400,000 at the later of: a) January 2012, or b) within
30 days of Corning acquiring your home at its appraised value in 2012 (or within 30 days of you selling your home in 2012, if applicable). Such home sale (to Corning or a 3rd party on your own) must be completed before November 30, 2012 to be eligible for the additional $400,000 cash
payment referenced above. 

  
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 Other Terms and Conditions 
 This offer of employment is made contingent on completion of a satisfactory background check and your passing a drug screen (please allow five business days for processing). By signing below, you confirm
that you have not disclosed to Corning any proprietary or confidential information or trade secrets of another entity and that you will not bring any such information or material to Corning. You further confirm that you are not subject to any
obligation of non-competition by another entity that might prevent or interfere with your performance of the position offered. In addition, you will be required to provide acceptable documents of identity and employment eligibility within the first
three days of your employment. 
 We look forward to hearing from you and sincerely hope you will accept this opportunity with Corning. If you
accept our offer, please sign below and return this letter in the pre-paid, self-addressed envelope. 
 Sincerely, 

 

	
	 /s/ Kirk P. Gregg

	 Kirk P. Gregg

	 Chief Administrative Officer

  

			
	ACCEPTED BY:	  	
		
	 /s/ Jeffrey Evenson
	  	  

	Jeffrey Evenson	  	(DATE)

  
 4Amendment No. 2 to Deferred Compensation Plan for Directors dtd February 1, 2012

 EXHIBIT 10.62 
 CORNING INCORPORATED DEFERRED COMPENSATION PLAN FOR DIRECTORS 
 AMENDMENT
NO. 2 TO FEBRUARY 3, 1999 RESTATEMENT 
 Pursuant to Section 16 of the Corning Incorporated Deferred Compensation Plan
for Directors (the “Plan”), Corning Incorporated hereby amends the Plan, effective as of January 1, 2013, as follows: 
  

	 	1.	Section 5 is amended by deleting the section in its entirety and replacing it with the following: 

Section 5. Investment of Deferred Amounts 
  

	 	(a)	 General. A participant may designate, in increments of 5%, the compensation to be deferred or compensation already deferred to be allocated to a
cash account and a restricted stock unit account or any combination of such accounts; provided, however, that once amounts have been allocated to the restricted stock unit account they may not subsequently be reallocated to the cash
account. Any change in such designation may be made no later than the 15th day of each March, June, September and December during the deferral period to be effective on the date next following such notification that compensation would have been paid in accordance with the
Company’s normal practice but for the election to defer. 

  

	 	(b)	Cash Account. The amount, if any, in the participant’s deferred compensation cash account shall be credited with interest, to be compounded quarterly,
calculated prospectively at a rate equal to prime rate of Citibank, N.A. in effect on the date compensation would have been paid in accordance with the Company’s present normal practice on the first day of each January, April, July and October
during the deferral period. 

  

	 	(c)	Restricted Stock Unit Account. The amount, if any, in or allocated to the participant’s deferred compensation restricted stock unit account on each date
compensation would have been paid in accordance with the Company’s normal practice but for the election to defer shall be in stock-settled restricted stock units (“RSUs”) granted under the Company’s 2010 Equity Plan for
Non-Employee Directors (as it may be amended from time to time) or any successor shareholder approved plan that may be designated by the Company, the number of which RSUs shall be equal to such amount divided by the closing price of shares of the
Company’s Common Stock on the New York Stock Exchange (hereinafter referred to as “Market Value”) on such date or on the trading day next preceding such date if such date is not a trading day. On each date that the Company pays a
regular cash dividend on shares of its Common Stock outstanding, the participant’s account shall be credited with a number of additional RSUs equal to the amount of such dividend per share multiplied by the number of RSUs in such
participant’s account on such date divided by the Market Value on such dividend date or on the trading day next preceding such date if the dividend payment date is not a trading day. 

 

	 	(d)	Recapitalization. The number of RSUs in the participant’s restricted stock unit account shall be proportionally adjusted for any increase or decrease in the
number of issued shares of Common Stock of the Company resulting from a subdivision or consolidation of shares or other capital adjustment, or the payment of a stock dividend or other increase or decrease in such shares effected without receipt of
consideration by the Company, or any distribution or spin-off of assets (other than cash) to the stockholders of the Company. 

  

	 	(e)	Application to Amounts Deferred Prior to January 1, 2013. Notwithstanding anything contained above in this Section 5, with respect to amounts deferred
under the Plan prior to January 1, 2013 (“Prior Deferrals”), Amendment No. 2 to the Plan shall not be applicable and the Prior Deferrals shall continue to be credited to the accounts in place prior to January 1, 2013;

  
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	 	2.	Section 7 is amended by replacing the last sentence thereof with the following: 

All amounts in the participant’s cash account shall be paid in cash, and all amounts in the participant’s restricted stock unit
account shall be paid in shares of the Company’s Common Stock (with one share issued for each RSU). 

IN WITNESS WHEREOF, the Company has caused its duly authorized officer to execute this amendment on its behalf this
1st day of February, 2012. 

 

			
	 CORNING INCORPORATED

		
	By:	 	 /s/ John P. MacMahon

		 	John P. MacMahon
		
	Title:	 	 Senior Vice President, Global Compensation
 and Benefits

  
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