This excerpt taken from the GLW 10-K filed Feb 27, 2007.
1. THE PLAN
a) Purpose. This Corning Incorporated 2003 Equity Plan for Non-Employee Directors (the Plan), as amended, is intended to benefit the shareholders of Corning Incorporated (the Corporation) by providing a means to attract, retain and reward outstanding 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 will become effective upon its approval by the affirmative vote of a majority of the votes cast at the Corporations 2003 Annual Meeting of Shareholders and shall continue until December 31, 2007. If approved at the 2006 Annual Meeting of Shareholders, the Plan will expire on December 31, 2010.