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As Of Filer Filing For·On·As Docs:Size 2/13/15 Corning Inc/NY 10-K 12/31/14 159:36M |
Document/Exhibit Description Pages Size 1: 10-K 2014 Form 10K HTML 3.34M 2: EX-10.64 Incentive Stock Rights Agreement HTML 81K 3: EX-10.65 Cash Performance Unit Agreement HTML 89K 5: EX-21 Subsidiary Companies HTML 57K 6: EX-23.1 Pwc Consent for Corning HTML 47K 7: EX-23.2 Pwc Consent for Dow Corning HTML 47K 8: EX-23.3 Pwc Consent for Samsung Corning HTML 47K 9: EX-24 Powers of Attorney HTML 97K 4: EX-12 Ratio of Earnings Table HTML 75K 10: EX-31.1 Certification of CEO HTML 54K 11: EX-31.2 Certification of CFO HTML 54K 12: EX-32 Sox Certification HTML 49K 108: R1 Document And Entity Information HTML 75K 79: R2 Consolidated Statements of Income HTML 124K 100: R3 Consolidated Statements of Comprehensive Income HTML 74K 113: R4 Consolidated Balance Sheets HTML 175K 144: R5 Consolidated Balance Sheets (Parentheticals) HTML 75K 84: R6 Consolidated Statements of Cash Flows HTML 216K 99: R7 Consolidated Statements of Changes in HTML 120K Shareholders' Equity 72: R8 Supplemental Cash Flow Information HTML 49K 58: R9 Note 1 - Summary of Significant Accounting HTML 127K Policies 146: R10 Note 2 - Restructuring, Impairment and Other HTML 142K Charges 115: R11 Note 3 - Available-for-Sale Investments HTML 96K 114: R12 Note 4 - Significant Customers HTML 47K 122: R13 Note 5 - Inventories, Net of Inventory Reserves HTML 57K 123: R14 Note 6 - Income Taxes HTML 160K 119: R15 Note 7 - Investments HTML 177K 125: R16 Note 8 - Acquisition HTML 126K 101: R17 Note 9 - Property, Plant and Equipment, Net of HTML 62K Accumulated Depreciation 110: R18 Note 10 - Goodwill and Other Intangible Assets HTML 111K 117: R19 Note 11 - Other Assets and Other Liabilities HTML 77K 158: R20 Note 12 - Debt HTML 95K 136: R21 Note 13 - Employee Retirement Plans HTML 526K 92: R22 Note 14 - Commitments, Contingencies, and HTML 112K Guarantees 116: R23 Note 15 - Hedging Activities HTML 160K 96: R24 Note 16 - Fair Value Measurements HTML 95K 47: R25 Note 17 - Shareholders' Equity HTML 214K 138: R26 Note 18 - Earnings Per Common Share HTML 82K 151: R27 Note 19 - Share-based Compensation HTML 108K 66: R28 Note 20 - Reportable Segments HTML 416K 65: R29 Schedule II - Valuation Accounts and Reserves HTML 93K 70: R30 Quarterly Operating Results HTML 123K 71: R31 Accounting Policies, by Policy (Policies) HTML 209K 73: R32 Note 1 - Summary of Significant Accounting HTML 81K Policies (Tables) 31: R33 Note 2 - Restructuring, Impairment and Other HTML 138K Charges (Tables) 134: R34 Note 3 - Available-for-Sale Investments (Tables) HTML 94K 89: R35 Note 5 - Inventories, Net of Inventory Reserves HTML 55K (Tables) 93: R36 Note 6 - Income Taxes (Tables) HTML 157K 52: R37 Note 7 - Investments (Tables) HTML 150K 157: R38 Note 8 - Acquisition (Tables) HTML 108K 19: R39 Note 9 - Property, Plant and Equipment, Net of HTML 58K Accumulated Depreciation (Tables) 76: R40 Note 10 - Goodwill and Other Intangible Assets HTML 103K (Tables) 142: R41 Note 11 - Other Assets and Other Liabilities HTML 74K (Tables) 49: R42 Note 12 - Debt (Tables) HTML 82K 64: R43 Note 13 - Employee Retirement Plans (Tables) HTML 535K 69: R44 Note 14 - Commitments, Contingencies, and HTML 103K Guarantees (Tables) 80: R45 Note 15 - Hedging Activities (Tables) HTML 145K 30: R46 Note 16 - Fair Value Measurements (Tables) HTML 84K 57: R47 Note 17 - Shareholders' Equity (Tables) HTML 195K 22: R48 Note 18 - Earnings Per Common Share (Tables) HTML 79K 140: R49 Note 19 - Share-based Compensation (Tables) HTML 95K 48: R50 Note 20 - Reportable Segments (Tables) HTML 397K 135: R51 Supplemental Cash Flow Information (Details) HTML 63K 53: R52 Note 1 - Summary of Significant Accounting HTML 122K Policies (Details) 77: R53 Note 1 - Summary of Significant Accounting HTML 67K Policies (Details) - Other Income, Net 21: R54 Note 1 - Summary of Significant Accounting HTML 58K Policies (Details) - Supplemental Disclosure of Cash Flow Information 27: R55 Note 1 - Summary of Significant Accounting HTML 60K Policies (Details) - Useful Life of Equipment 68: R56 Note 2 - Restructuring, Impairment and Other HTML 56K Charges (Details) 38: R57 Note 2 - Restructuring, Impairment and Other HTML 88K Charges (Details) - Restructuring, Impairment and Other Charges 147: R58 Note 2 - Restructuring, Impairment and Other HTML 63K Charges (Details) - Year-To-Date Cost For Reportable Segments 87: R59 Note 2 - Restructuring, Impairment and Other HTML 88K Charges (Details) - Restructuring, Impairment and Other Charges 120: R60 Note 2 - Restructuring, Impairment and Other HTML 94K Charges (Details) - Restructuring, Impairment and Other Charges 56: R61 Note 3 - Available-for-Sale Investments (Details) HTML 56K 60: R62 Note 3 - Available-for-Sale Investments (Details) HTML 67K - Summary of Fair Value of Available-for-Sale Investments 131: R63 Note 3 - Available-for-Sale Investments (Details) HTML 58K - Summary of Maturities of Available-for-Sale Securities 126: R64 Note 3 - Available-for-Sale Investments (Details) HTML 62K - Fair Value and Gross Unrealized Losses of Investments by Length of Time in Continuous Unrealized Loss Position 91: R65 Note 4 - Significant Customers (Details) HTML 57K 129: R66 Note 5 - Inventories, Net of Inventory Reserves HTML 63K (Details) - Inventories, Net 54: R67 Note 6 - Income Taxes (Details) HTML 111K 97: R68 Note 6 - Income Taxes (Details) - Income Before HTML 54K Income Taxes 150: R69 Note 6 - Income Taxes (Details) - Current and HTML 83K Deferred Amounts of Provision (Benefit) for Income Taxes 25: R70 Note 6 - Income Taxes (Details) - Reconciliation HTML 88K of the U.S. Statutory Income Tax Rate To Effective Tax Rate 46: R71 Note 6 - Income Taxes (Details) - Tax Effects of HTML 88K Temporary Differences and Carryforwards of Deferred Tax Assets and Liabilities 78: R72 Note 6 - Income Taxes (Details) - Net Deferred Tax HTML 65K Assets 36: R73 Note 6 - Income Taxes (Details) - Deferred Tax HTML 75K Assets for Loss and Tax Credit Carryforwards 156: R74 Note 6 - Income Taxes (Details) - Reconciliation HTML 57K of Unrecognized Tax Benefits 50: R75 Note 7 - Investments (Details) HTML 305K 41: R76 Note 7 - Investments (Details) - Investments HTML 84K 45: R77 Note 7 - Investments (Details) - Results of HTML 120K Operations 28: R78 Note 7 - Investments (Details) - Financial HTML 98K Position 32: R79 Note 8 - Acquisition (Details) HTML 176K 111: R80 Note 8 - Acquisition (Details) - Total Fair Value HTML 100K of Samsung Corning Precision Materials at Acquisition Date 43: R81 Note 8 - Acquisition (Details) - Total Fair Value HTML 48K of Samsung Corning Precision Materials at Acquisition Date (Parentheticals) 148: R82 Note 8 - Acquisition (Details) - Net Gain on HTML 84K Previously Owned Equity 74: R83 Note 8 - Acquisition (Details) - Net Gain on HTML 50K Previously Owned Equity (Parentheticals) 118: R84 Note 8 - Acquisition (Details) - Recognized HTML 90K Amounts of Identified Assets Acquired and Liabilities Assumed 128: R85 Note 8 - Acquisition (Details) - Unaudited Pro HTML 65K Forma Financial Information 42: R86 Note 8 - Acquisition (Details) - Recognized HTML 69K Amounts of Identified Assets Acquired and Liabilities Assumed 44: R87 Note 9 - Property, Plant and Equipment, Net of HTML 65K Accumulated Depreciation (Details) 145: R88 Note 9 - Property, Plant and Equipment, Net of HTML 68K Accumulated Depreciation (Details) - Property, Net 37: R89 Note 10 - Goodwill and Other Intangible Assets HTML 86K (Details) 112: R90 Note 10 - Goodwill and Other Intangible Assets HTML 85K (Details) - Carrying Amount of Goodwill by Segment 104: R91 Note 10 - Goodwill and Other Intangible Assets HTML 64K (Details) - Other Intangible Assets 132: R92 Note 11 - Other Assets and Other Liabilities HTML 74K (Details) 103: R93 Note 11 - Other Assets and Other Liabilities HTML 96K (Details) - Other Assets and Other Liabilities 85: R94 Note 12 - Debt (Details) HTML 113K 139: R95 Note 12 - Debt (Details) - Long-term Debt HTML 97K 81: R96 Note 12 - Debt (Details) - Long-term Debt HTML 101K (Parentheticals) 51: R97 Note 12 - Debt (Details) - Debt Maturities HTML 59K 94: R98 Note 13 - Employee Retirement Plans (Details) HTML 138K 88: R99 Note 13 - Employee Retirement Plans (Details) - HTML 203K Obligations and Funded Status Schedule 67: R100 Note 13 - Employee Retirement Plans (Details) - HTML 149K Postretirement Benefits 159: R101 Note 13 - Employee Retirement Plans (Details) - HTML 52K Benefit Obligations in Excess of Fair Value of Plan Assets 130: R102 Note 13 - Employee Retirement Plans (Details) - HTML 53K Accumulated Benefit Obligation in Excess of Fair Value of Plan Assets 102: R103 Note 13 - Employee Retirement Plans (Details) - HTML 159K Summary of Net Periodic Benefit Cost 29: R104 Note 13 - Employee Retirement Plans (Details) - HTML 111K Summary of Net Periodic Benefit Cost of Postretirement Benefits 141: R105 Note 13 - Employee Retirement Plans (Details) - HTML 88K Weighted-average Assumptions used to Determine Benefit Obligations and Net Periodic Benefit Cost 149: R106 Note 13 - Employee Retirement Plans (Details) - HTML 54K Summary of Assumed Health Care Trend Rates 143: R107 Note 13 - Employee Retirement Plans (Details) - HTML 57K Summary of One-percent-point Change in Assumed Health Care Cost 98: R108 Note 13 - Employee Retirement Plans (Details) - HTML 136K Domestic Defined Benefit Plan Assets 39: R109 Note 13 - Employee Retirement Plans (Details) - HTML 113K International Defined Benefit Plan Assets 121: R110 Note 13 - Employee Retirement Plans (Details) - HTML 84K Summary of Changes in Fair Value of Level 3 Assets for Defined Benefit Plans 55: R111 Note 13 - Employee Retirement Plans (Details) - HTML 99K Estimated Future Benefit Payments and Gross Medicare to be Received 20: R112 Note 14 - Commitments, Contingencies, and HTML 69K Guarantees (Details) 83: R113 Note 14 - Commitments, Contingencies, and HTML 161K Guarantees (Details) - Obligations 75: R114 Note 14 - Commitments, Contingencies, and HTML 64K Guarantees (Details) - Minimum Rental Commitments Under Leases 137: R115 Note 15 - Hedging Activities (Details) HTML 76K 59: R116 Note 15 - Hedging Activities (Details) - Summary HTML 80K of Notional Amounts and Respective Fair Values of Derivative Financial Instruments 153: R117 Note 15 - Hedging Activities (Details) - Effect on HTML 75K Consolidated financial statements 33: R118 Note 15 - Hedging Activities (Details) - Effect on HTML 62K Consolidated financial statements 107: R119 Note 16 - Fair Value Measurements (Details) HTML 63K 127: R120 Note 16 - Fair Value Measurements (Details) - HTML 91K Major Categories of Financial Assets and Liabilities Measured on a Recurring Basis 23: R121 Note 17 - Shareholders' Equity (Details) HTML 178K 105: R122 Note 17 - Shareholders' Equity (Details) - Changes HTML 107K in Capital Stock 95: R123 Note 17 - Shareholders' Equity (Details) - HTML 126K Accumulated Other Comprehensive Income 26: R124 Note 17 - Shareholders' Equity (Details) - HTML 140K Reclassifications Out of Accumulated Other Comprehensive Income (AOCI) by Component 109: R125 Note 18 - Earnings Per Common Share (Details) - HTML 116K Computation of Basic and Diluted Earnings per Common Share 155: R126 Note 19 - Share-based Compensation (Details) HTML 120K 34: R127 Note 19 - Share-based Compensation (Details) - HTML 103K Summary of Information Concerning Stock Options Outstanding Including the Related Transactions under the Stock Option Plans 61: R128 Note 19 - Share-based Compensation (Details) - HTML 86K Inputs Used for Valuation of Option Grants under Stock Option Plans 133: R129 Note 19 - Share-based Compensation (Details) - HTML 74K Summary of the Status of Non-Vested Time-Based Restricted Stock and Restricted Stock Units 154: R130 Note 20 - Reportable Segments (Details) HTML 181K 90: R131 Note 20 - Reportable Segments (Details) - HTML 250K Reportable Segments 106: R132 Note 20 - Reportable Segments (Details) - HTML 94K Reconciliation of Reportable Segment Net Income (Loss) to Consolidated Net Income 35: R133 Note 20 - Reportable Segments (Details) - HTML 72K Reconciliation of Reportable Segment Net Assets to Consolidated Net Assets 40: R134 Note 20 - Reportable Segments (Details) - Selected HTML 112K Financial Information On Product Lines and Reportable Segments 82: R135 Note 20 - Reportable Segments (Details) - HTML 187K Information Concerning Principal Geographic Areas 63: R136 Schedule II - Valuation Accounts and Reserves HTML 82K (Details) - Valuation Accounts And Reserves 124: R137 Quarterly Operating Results (Details) - Quarterly HTML 100K Operating Results 152: XML IDEA XML File -- Filing Summary XML 259K 24: EXCEL IDEA Workbook of Financial Reports XLSX 495K 62: EXCEL IDEA Workbook of Financial Reports (.xls) XLS 6.51M 13: EX-101.INS XBRL Instance -- glw-20141231 XML 7.80M 15: EX-101.CAL XBRL Calculations -- glw-20141231_cal XML 281K 18: EX-101.DEF XBRL Definitions -- glw-20141231_def XML 2.29M 16: EX-101.LAB XBRL Labels -- glw-20141231_lab XML 2.93M 17: EX-101.PRE XBRL Presentations -- glw-20141231_pre XML 2.19M 14: EX-101.SCH XBRL Schema -- glw-20141231 XSD 557K 86: ZIP XBRL Zipped Folder -- 0000024741-15-000015-xbrl Zip 520K
1.
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Award of Units. The Company hereby awards to the Employee Cash Performance Units (the “Cash Units”).
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2.
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Non-Transferability. The Cash Units may not be sold, assigned, transferred, pledged or otherwise encumbered by or on behalf of or for the benefit of the Employee other than by last will and testament, by the laws of descent and distribution, pursuant to a domestic relations order or as otherwise permitted by the Committee pursuant to Section 12 of the Plan.
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(a)
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Within ninety days following the beginning of each fiscal year ending on December 31st 2015, 2016 and 2017 (each such year, an “Annual Performance Period” and collectively, the “Performance Period”), the Compensation Committee of the Company’s Board of Directors (the “Committee”) shall determine performance targets (each a “Performance Target”) applicable to the current fiscal year. Such targets will be communicated annually to the Employee.
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(b)
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Any Cash Units that are earned pursuant to Sections 3 and 4 (after taking into account the proration adjustments referenced in Section 4 (the “Proration Factor”), if applicable) shall be referred to as the “Earned Units,” provided, however, that if the numerator of the Proration Factor is less than 3, all Cash Units shall be forfeited upon a termination of employment for any reason.
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4.
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Service Based Vesting Requirement. Subject to the exceptions set forth below, the Employee must remain in continuous employment with the Company Group until the expiration of the Performance Period in order to vest in the Earned Units. If the Employee’s employment with the Company Group terminates on or before the expiration of the Performance Period, any Earned Units shall be treated in the manner set forth in this Section 4.
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Event
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Termination Date Occurs in 1st Annual Performance Period
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Termination Date Occurs After 1st Annual Performance Period
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# of Earned Units
Proration Factor (subject to the limitation in
Section 3(b))
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(a) Retirement at or After Age 55
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Employee vests in 100% of the Earned Units (after taking the Proration Factor into account) based on actual performance over the Performance Period
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Employee vests in 100% of the Earned Units based on actual performance over the Performance Period
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Prorated by a ratio the numerator of which is the number of full calendar months the Employee was actively employed during the first Annual Performance Period and the denominator of which is 12
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(b) Termination without Cause
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Employee vests in 100% of the Earned Units (after taking the Proration Factor into account) based on actual performance over the Performance Period
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Employee vests in 100% of the Earned Units (after taking the Proration Factor into account) based on actual performance over the Performance Period
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Prorated by a ratio the numerator of which is the number of full calendar months the Employee was actively employed during the Performance Period through the Termination Date, and the denominator of which is 36
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(c) Death, or
(d) Disability, or
(e) Reduction in Force, Divestiture or Discontinuance of Certain Company Group’s Operations, or
(f) Change of Control
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Employee vests in 100% of the Earned Units (after taking the Proration Factor into account) and the Performance Targets shall be deemed attained based on actual performance for the first Annual Performance Period and 100% target performance for all other Annual Performance Periods
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Employee vests in 100% of the Earned Units and the Performance Targets shall be deemed attained at actual performance for any completed Annual Performance Period and 100% target performance for all other Annual Performance Periods
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Prorated by a ratio the numerator of which is the number of full calendar months the Employee was actively employed during the first Annual Performance Period and the denominator of which is 12.
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(g) Voluntary Termination or Termination for Cause
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Employee forfeits all of the Cash Units
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Employee forfeits all of the Cash Units
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None
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(a)
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“Termination Date” shall mean the last day on which the Employee provides services to the Company Group (notwithstanding any applicable severance periods).
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(A)
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conviction of a felony or conviction of a misdemeanor involving moral turpitude (from which no further appeals have been or can be taken);
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(C)
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gross abdication of duties as an employee of the Company Group, which conduct remains uncured by the Employee for a period of at least 30 days following written notice thereof to the Employee by the Company Group, in each case as determined in good faith by the Company; or
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(D)
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misappropriation of the Company Group’s assets, personal dishonesty or business conduct which causes material or potentially material financial or reputational harm for the Company;
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(c)
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“Disability” shall mean the Employee’s termination of employment with the Company Group as a result of a total and permanent disability as that term is defined in the long-term disability plan applicable to the Employee.
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(d)
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“Change of Control” shall mean an event that is “a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended and the regulations and guidance promulgated thereunder (the “Code”), and that also falls within one of the following circumstances:
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(A)
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an offerer (other than the Company) purchases shares of the Company’s Common Stock pursuant to a tender or exchange offer for such shares;
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(B)
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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 securities representing 50% or more of the combined voting power of the Company’s then outstanding securities;
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(C)
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the membership the Company’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
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(D)
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the consummation of a merger in which the Company is not the surviving corporation, consolidation, sale or disposition of all or substantially all of the Company’s assets or a plan of partial or complete liquidation approved by the Company’s shareholders;
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(a)
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Except as noted below, the Earned Units that have vested pursuant to Sections 3 and 4 shall be paid within 60 days following the expiration of the Performance Period.
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(b)
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In the event of a termination of employment due to Sections 4(c), 4(d) or 4(e), the Earned Units that vest shall be paid within 60 days following (i) the Termination Date, or (ii) the determination of results for the first Annual Performance Period, whichever date is later.
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(c)
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In the event of a Change of Control, the Earned Units that vest in accordance with Section 4(f) shall be paid within 60 days following (i) the effective date of the Change of Control, or (ii) the determination of results for the first Annual Performance Period, whichever date is later.
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(d)
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The applicable date on which Cash Units are paid pursuant to this Section 6 is referred to as the “Payment Date.” All Cash Units that have not been earned and vested as of the Payment Date shall be forfeited.
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(e)
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In the event that the Earned Units become subject to Social Security and/or Medicare taxes prior to the applicable Payment Date, the Company shall withhold a number of Cash Units equal in value to (i) the applicable Federal Insurance Contributions Act (“FICA”) tax imposed under Code Sections 3101, 3121(a), and 3121(v)(2) on the Cash Units (the “FICA Amount”) and (ii) the applicable federal, state, local or foreign income taxes owedas a result of the withholding of the Cash Units to pay the FICA Amount. Any subsequent payment under this Agreement will be reduced by the amount withheld under this Section 6(e).
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(a)
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Unless otherwise specified by the Committee at the Payment Date pursuant to Section 7(b), Earned Units shall be paid in cash.
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(b)
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On or prior to the Payment Date, the Committee may elect, to pay any Earned Units in shares of the Company’s common stock, par value $0.50 per share (“Common Stock”). If paid in Common Stock, the Company shall make an appropriate book-entry, for the number of whole shares of Common Stock equal in value to the number of Earned Units that are vested as of the business day preceding the Payment Date, with any resulting fractional shares being delivered to the Employee in cash.
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(c)
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The Employee shall have no further rights with regard to the Cash Units once the cash or shares of Common Stock have been delivered pursuant to this Section 7.
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(d)
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All payments made pursuant to this Agreement shall be reduced by the amount of all tax withholdings and other permitted deductions. To the extent the Cash Units are paid in shares of Common Stock, the Company may withhold shares of Common Stock to satisfy any tax withholdings and permitted deductions.
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8.
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Voting and Dividend Rights. The Cash Units do not entitle the Employee to any of the rights of a shareholder of the Company (such as voting or dividend rights).
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9.
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Recoupment/Claw-back. Notwithstanding anything in this Agreement to the contrary, the Cash Units and any payments made pursuant to this Agreement shall be subject to claw-back or recoupment as mandated by applicable law, rules, regulations or Company policy as enacted, adopted or modified from time to time.
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10.
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Transfers. If the Employee is transferred from the Company to a Subsidiary, from a Subsidiary to the Company or from one Subsidiary to another, the Employee’s employment with the Company Group shall not be deemed to have terminated; provided, however, that the Subsidiary is owned 50% or greater by the Company Group.
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(a)
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The Cash Units are intended to comply with or be exempt from Section 409A of the Code and shall be administered and interpreted in accordance with that intent. If any provision of the Plan or this Agreement would, in the reasonable good faith judgment of the Committee, result or likely result in the imposition on the Employee of a penalty tax under Section 409A, the Committee may modify the terms of the Plan or this Agreement, without the consent of the Employee, in the manner that the Committee may reasonably and in good faith determine to be necessary or advisable to avoid the imposition of such penalty tax. This Section 11 does not create an obligation on the part of the Company to modify the Plan or this Agreement and does not guarantee that the Cash Units will not be subject to taxes, interest and penalties under Section 409A.
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(b)
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Notwithstanding anything to the contrary in the Plan or this Agreement, to the extent that the Cash Units constitute deferred compensation for purposes of Section 409A and the Employee is a “Specified Employee” (within the meaning of the Committee’s established methodology for determining “Specified Employees” for purposes of Section 409A), no payment or distribution of any amounts with respect to the Cash Units that are subject to Section 409A may be made before the 15th day of the seventh month following the Employee’s “Separation from Service” from the Company (as defined in Section 409A) or, if earlier, the date of the Employee’s death.
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(c)
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The actual Payment Date pursuant to Section 6 shall be within the sole discretion of the Company. In no event may the Employee be permitted to control the year in which settlement occurs.
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12.
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Modification/Interpretation. The Committee shall have the power to alter, amend, modify or terminate the Plan or this Agreement at any time; provided, however, that no such termination, amendment or modification may adversely affect, in any material respect, the Employee’s rights under this Agreement without the Employee’s consent. Notwithstanding the foregoing, the Company shall have broad authority to amend this Agreement without the consent of the Employee to the extent it deems necessary or desirable (a) to comply with or take into account changes in or interpretations of, applicable tax laws, securities laws, employment laws, accounting rules and other applicable laws, rules and regulations, (b) to take into account unusual or nonrecurring events or market conditions, or (c) to take into account significant acquisitions
or dispositions of assets or other property by the Company. Any amendment, modification or termination shall, upon adoption, become and be binding on all persons affected thereby without requirement for consent or other action with respect thereto by any such person. The Committee shall give written notice to the Employee of any such amendment, modification or termination as promptly as practicable after the adoption thereof. The foregoing shall not restrict the ability of the Employee and the Company by mutual consent to alter or amend the terms of the Cash Units in any manner that is consistent with the Plan and approved by the Committee.
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13.
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Headings. The headings of sections and subsections are included solely for convenience of reference and shall not affect the meaning of the provisions of this Agreement.
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14.
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Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.
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15.
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Entire Agreement. This Agreement and the Plan constitute the entire agreement between the parties hereto with regard to the subject matter hereof. They supersede all other agreements, representations or understandings (whether oral or written and whether express or implied) that relate to the subject matter hereof.
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16.
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Governing Law. Except as to matters of federal law, this Agreement and all actions taken thereunder shall be governed by and construed in accordance with the laws of the State of New York (other than its conflict of law rules).
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By:
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/s/ John P. MacMahon
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Senior Vice President,
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Global Compensation & Benefits
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Corning Incorporated
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This ‘10-K’ Filing | Date | Other Filings | ||
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Filed on: | 2/13/15 | |||
2/4/15 | 4, 8-K | |||
For Period end: | 12/31/14 | 11-K, 4, ARS, SD | ||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/14/22 Corning Inc./NY 10-K 12/31/21 139:22M RDG Filings/FA 2/12/21 Corning Inc./NY 10-K 12/31/20 145:52M Certent, Inc./FA |