<SEC-DOCUMENT>0000031107-20-000020.txt : 20200521
<SEC-HEADER>0000031107-20-000020.hdr.sgml : 20200521
<ACCEPTANCE-DATETIME>20200521161959
ACCESSION NUMBER:		0000031107-20-000020
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20200521
DATE AS OF CHANGE:		20200521
EFFECTIVENESS DATE:		20200521

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EASTERN CO
		CENTRAL INDEX KEY:			0000031107
		STANDARD INDUSTRIAL CLASSIFICATION:	CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
		IRS NUMBER:				060330020
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			0102

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-238565
		FILM NUMBER:		20902112

	BUSINESS ADDRESS:	
		STREET 1:		112 BRIDGE ST
		STREET 2:		P O BOX 460
		CITY:			NAUGATUCK
		STATE:			CT
		ZIP:			06770
		BUSINESS PHONE:		2037292255

	MAIL ADDRESS:	
		STREET 1:		112 BRIDGE STREET
		STREET 2:		P O BOX 460
		CITY:			NAUGATUCK
		STATE:			CT
		ZIP:			06770
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>s8_2020stockplan.htm
<DESCRIPTION>2020 STOCK INCENTIVE PLAN
<TEXT>
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  <div style="font-weight: bold;">As filed with the Securities and Exchange Commission on May 21, 2020</div>
  <div style="text-align: right; font-weight: bold;">Registration No.&#160;333-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
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  <div style="text-align: center; margin-top: 2.25pt; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
  <div style="text-align: center; margin-top: 2.25pt; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
  <div style="text-align: center; font-size: 12pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>
  <div style="font-size: 8pt;">&#160;</div>
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  <div style="text-align: center; margin-top: 4.5pt; font-size: 14pt; font-weight: bold;">FORM S-8</div>
  <div style="text-align: center; font-size: 14pt; font-weight: bold;">REGISTRATION STATEMENT</div>
  <div style="text-align: center; font-size: 12pt; font-style: italic; font-weight: bold;">Under</div>
  <div style="text-align: center; font-size: 12pt; font-style: italic; font-weight: bold;">THE SECURITIES ACT OF 1933</div>
  <div style="font-size: 8pt;">&#160;</div>
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  <div style="text-align: center; margin-top: 4.5pt; font-size: 18pt; font-weight: bold;">THE EASTERN COMPANY</div>
  <div style="text-align: center; font-weight: bold;">(Exact name of registrant as specified in its charter)</div>
  <div style="font-size: 8pt;">&#160;</div>
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          <div style="text-align: center; font-weight: bold;"><u>Connecticut</u></div>
        </td>
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          <div style="font-size: 8pt;">&#160;</div>
        </td>
        <td style="width: 47%; vertical-align: top;">
          <div style="text-align: center; font-weight: bold;"><u>06-0330020</u></div>
        </td>
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        <td style="width: 49%; vertical-align: top;">
          <div style="text-align: center; font-size: 8pt; font-weight: bold;">(State or other jurisdiction of</div>
          <div style="text-align: center; font-size: 8pt; font-weight: bold;">incorporation or organization)</div>
        </td>
        <td style="width: 4%; vertical-align: bottom;">
          <div style="font-size: 8pt;">&#160;</div>
        </td>
        <td style="width: 47%; vertical-align: top;">
          <div style="text-align: center; font-size: 8pt; font-weight: bold;">(I.R.S. Employer</div>
          <div style="text-align: center; font-size: 8pt; font-weight: bold;">Identification No.)</div>
        </td>
      </tr>

  </table>
  <div style="text-align: center; font-weight: bold;">112 Bridge Street</div>
  <div style="text-align: center; font-weight: bold;"><u>Naugatuck, Connecticut 06770</u></div>
  <div style="text-align: center; font-size: 8pt; font-weight: bold;">(Address, including zip code of registrant&#8217;s principal executive offices)</div>
  <div style="font-size: 8pt;">&#160;</div>
  <div>
    <div style="text-align: center; margin-bottom: 1.5pt; font-size: 8pt;">&#160;</div>
    <div><br>
    </div>
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  <div style="text-align: center; font-weight: bold;"><u>THE EASTERN COMPANY 2020 STOCK INCENTIVE PLAN</u></div>
  <div style="text-align: center; font-size: 8pt; font-weight: bold;">(Full title of the Plans)</div>
  <div style="font-size: 8pt;">&#160;</div>
  <div>
    <div style="text-align: center; margin-bottom: 1.5pt; font-size: 12pt;">&#160;</div>
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    </div>
  </div>
  <div style="text-align: center; font-weight: bold;">&#160;John L. Sullivan III</div>
  <div style="text-align: center; font-weight: bold;">Vice President and Chief Financial Officer</div>
  <div style="text-align: center; font-weight: bold;">112 Bridge Street</div>
  <div style="text-align: center; font-weight: bold;">Naugatuck, Connecticut 06770</div>
  <div style="text-align: center; font-weight: bold;"><u>(203) 729-2255</u></div>
  <div style="text-align: center; font-size: 8pt; font-weight: bold;">(Name, address, including zip code, and telephone number, including area code, of agent for service)</div>
  <div style="font-size: 8pt;">&#160;</div>
  <div>
    <div style="text-align: center; margin-bottom: 1.5pt; font-size: 8pt;">&#160;</div>
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    </div>
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  <div style="text-align: center; margin-top: 4.5pt; font-style: italic; font-weight: bold;">With a Copy to:</div>
  <div style="text-align: center; font-weight: bold;">Scott W. Goodman, Esq.</div>
  <div style="text-align: center; font-weight: bold;">Day Pitney LLP</div>
  <div style="text-align: center; font-weight: bold;">605 Third Avenue, 31<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">st</sup> Floor</div>
  <div style="text-align: center; font-weight: bold;">New York, New York 10158</div>
  <div style="text-align: center; font-weight: bold;">(212) 297-2436</div>
  <div style="font-size: 8pt;">&#160;</div>
  <div>
    <div style="margin-bottom: 1.5pt;"><br>
    </div>
    <div><br>
    </div>
  </div>
  <div style="text-align: justify; margin-top: 4.5pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of
    &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</div>
  <div>&#160;</div>
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        <td style="width: 49%; vertical-align: top;">
          <div style="margin-left: 14.4pt;">Large&#160;accelerated&#160;filer&#160;&#160;&#9723;</div>
        </td>
        <td style="width: 4%; vertical-align: bottom;">
          <div style="font-size: 8pt;">&#160;</div>
        </td>
        <td style="width: 47%; vertical-align: top;">
          <div>Accelerated filer&#160;&#160;&#8999;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 49%; vertical-align: top;">
          <div style="margin-left: 14.4pt;">Non-accelerated&#160;filer&#160;&#160;&#9723;</div>
        </td>
        <td style="width: 4%; vertical-align: bottom;">
          <div style="font-size: 8pt;">&#160;</div>
        </td>
        <td style="width: 47%; vertical-align: top;">
          <div>Smaller reporting&#160;company&#160;&#160;&#8999;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 49%; vertical-align: top;">&#160;</td>
        <td style="width: 4%; vertical-align: bottom;">&#160;</td>
        <td style="width: 47%; vertical-align: top;">
          <div>Emerging growth company &#160;&#160;&#9723;</div>
        </td>
      </tr>

  </table>
  <div style="font-size: 8pt;">&#160;</div>
  <div style="text-align: justify;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial standards provided pursuant to Section
    7(a)(2)(B) of the Securities Act. &#9633;</div>
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  <div style="text-align: center; margin-top: 4.5pt; font-weight: bold;">CALCULATION OF REGISTRATION FEE</div>
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        <td style="width: 32.89%; vertical-align: middle;">&#160;</td>
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        <td style="width: 13.36%; vertical-align: middle;">&#160;</td>
        <td style="width: 1.11%; vertical-align: bottom;">&#160;</td>
        <td style="width: 14.05%; vertical-align: middle;">&#160;</td>
        <td style="width: 1.07%; vertical-align: middle;">&#160;</td>
        <td style="width: 1.11%; vertical-align: bottom;">&#160;</td>
        <td style="width: 15.06%; vertical-align: middle;">&#160;</td>
        <td style="width: 0.16%; vertical-align: middle;">&#160;</td>
        <td style="width: 1.2%; vertical-align: bottom;">&#160;</td>
        <td style="width: 15.74%; vertical-align: middle;">&#160;</td>
        <td style="width: 0.07%; vertical-align: middle;">&#160;</td>
      </tr>
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          <div style="font-family: 'Times New Roman', serif; font-size: 1pt;">&#160;</div>
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          <div style="text-align: center; font-weight: bold;">Title of Securities</div>
          <div style="text-align: center; font-weight: bold;">to be Registered</div>
        </td>
        <td style="width: 4.18%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div>&#160;&#160; &#160; &#160; &#160;</div>
        </td>
        <td style="width: 13.36%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">Amount</div>
          <div style="text-align: center; font-weight: bold;">to be</div>
          <div style="text-align: center; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;Registered<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
        </td>
        <td style="width: 1.11%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div>&#160;&#160;</div>
        </td>
        <td style="width: 15.11%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
          <div style="text-align: center; margin-left: 4.3pt; font-weight: bold;">Proposed</div>
          <div style="text-align: center; margin-left: 4.3pt; font-weight: bold;">Maximum</div>
          <div style="text-align: center; margin-left: 4.3pt; font-weight: bold;">Offering&#160;Price</div>
          <div style="text-align: center; margin-left: 4.3pt; font-weight: bold;">Per&#160;Share<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
        </td>
        <td style="width: 1.11%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div>&#160;&#160;</div>
        </td>
        <td style="width: 15.06%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">Proposed<br>
            Maximum</div>
          <div style="text-align: center; font-weight: bold;">Aggregate<br>
            Offering&#160;Price<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
        </td>
        <td style="width: 1.36%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
          <div>&#160;&#160;</div>
        </td>
        <td style="width: 15.81%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
          <div style="text-align: center; font-weight: bold;">Amount of</div>
          <div style="text-align: center; font-weight: bold;">Registration<br>
            Fee</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.89%; vertical-align: top;">
          <div style="text-indent: -12pt; margin-left: 12pt;">Common Stock, no par value</div>
        </td>
        <td style="width: 4.18%; vertical-align: bottom;">
          <div>&#160;&#160;</div>
        </td>
        <td style="width: 13.36%; vertical-align: bottom;">
          <div style="text-align: center;">802,728</div>
        </td>
        <td style="width: 1.11%; vertical-align: bottom;">
          <div>&#160;&#160;</div>
        </td>
        <td style="width: 14.05%; vertical-align: bottom;">
          <div style="text-align: center; margin-left: 4.3pt;">$15.69</div>
        </td>
        <td style="width: 1.07%; vertical-align: bottom;">&#160;</td>
        <td style="width: 1.11%; vertical-align: bottom;">
          <div>&#160;&#160;</div>
        </td>
        <td style="width: 15.06%; vertical-align: bottom;">
          <div style="text-align: center;">$12,594,802.32</div>
        </td>
        <td style="width: 0.16%; vertical-align: bottom;">&#160;</td>
        <td style="width: 1.2%; vertical-align: bottom;">
          <div>&#160;&#160;</div>
        </td>
        <td style="width: 15.74%; vertical-align: bottom;">
          <div style="text-align: center;">$1,634.81</div>
        </td>
        <td style="width: 0.07%; vertical-align: bottom;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 32.89%; vertical-align: top;">&#160;</td>
        <td style="width: 4.18%; vertical-align: bottom;">&#160;</td>
        <td style="width: 13.36%; vertical-align: bottom;">&#160;</td>
        <td style="width: 1.11%; vertical-align: bottom;">&#160;</td>
        <td style="width: 14.05%; vertical-align: bottom;">&#160;</td>
        <td style="width: 1.07%; vertical-align: bottom;">&#160;</td>
        <td style="width: 1.11%; vertical-align: bottom;">&#160;</td>
        <td style="width: 15.06%; vertical-align: bottom;">&#160;</td>
        <td style="width: 0.16%; vertical-align: bottom;">&#160;</td>
        <td style="width: 1.2%; vertical-align: bottom;">&#160;</td>
        <td style="width: 15.74%; vertical-align: bottom;">&#160;</td>
        <td style="width: 0.07%; vertical-align: bottom;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 100%; vertical-align: bottom;" colspan="12">&#160;</td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="ze96919b96fbc49ef98de4cf0a64a7fd0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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        <td style="width: 4%; vertical-align: top;">
          <div>(1)</div>
        </td>
        <td style="width: 96%; vertical-align: top;">
          <div style="text-align: justify;">Represents shares that are or may become available for issuance under The Eastern Company 2020 Stock Incentive Plan (the &#8220;2020 Plan&#8221;), consisting of (a) 500,000 newly authorized shares available for issuance
            under the Plan, (b) 178,500 shares that were available for issuance under The Eastern Company 2010 Executive Stock Incentive Plan (the &#8220;Prior Plan&#8221;) immediately prior to its termination, which have become available for issuance under the 2020
            Plan, (c) 25,832 shares underlying awards that were outstanding under the Prior Plan as of its termination and have subsequently lapsed, expired, terminated, ceased to be exercisable or been forfeited without the issuance of such shares, which
            have become available for grants under the 2020 Plan, (d) 82,000 shares underlying awards that are currently outstanding under the Prior Plan that may lapse, expire, terminate, cease to be exercisable or be forfeited and thereby become
            available for future issuance under the 2020 Plan, and (e) 16,396 shares that remain available under the Directors&#8217; Fee Program and have become available for issuance under the 2020 Plan.</div>
          <div>&#160;</div>
          <div style="text-align: justify;">Pursuant to Rule 416 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;) this Registration Statement also covers an indeterminate number of shares of common stock that may be issuable pursuant to
            anti-dilution provisions contained in The Eastern Company 2020 Stock Incentive Plan.</div>
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 4%; vertical-align: top;">
          <div>(2)</div>
        </td>
        <td style="width: 96%; vertical-align: top;">
          <div style="text-align: justify;">Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h) under the Securities Act. The offering price per share and aggregate offering price are based on the average of the
            high and low prices of the common stock of the Company as reported on the Nasdaq Global Select Market on May 14, 2020.</div>
          <div>&#160;</div>
        </td>
      </tr>

  </table>
  <div style="font-size: 12pt;"><font style="font-size: 8pt;">&#160;</font>&#160;</div>
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  </div>
  <div style="margin-top: 13.5pt;"><br>
  </div>
  <div style="text-align: center; margin-top: 13.5pt; font-weight: bold;">PART I</div>
  <div style="text-align: center; margin-top: 4.5pt; font-weight: bold;">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</div>
  <div style="margin-top: 9pt; font-weight: bold;">Item&#160;1. <font style="font-style: italic;">Plan Information.</font>*</div>
  <div style="margin-top: 4.5pt;">Not filed with this Registration Statement.</div>
  <div style="margin-top: 13.5pt; font-weight: bold;">Item&#160;2. <font style="font-style: italic;">Registrant Information and Employee Plan Annual Information.</font>*</div>
  <div style="margin-top: 4.5pt;">Not filed with this Registration Statement.</div>
  <div>
    <div style="margin-bottom: 1.5pt; font-size: 12pt;">&#160;</div>
    <div><br>
    </div>
  </div>
  <table cellspacing="0" cellpadding="0" id="zfd6614e2e02548c69b9ba1c052ac7704" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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        <td style="width: 2%; vertical-align: top;">
          <div>*</div>
        </td>
        <td style="width: 98%; vertical-align: top;">
          <div>All information required by Part I to be contained in the Section&#160;10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act of 1933 and the Note to Part I of Form S-8.</div>
        </td>
      </tr>

  </table>
  <div style="text-align: center; margin-top: 18pt; font-weight: bold;">PART II</div>
  <div style="text-align: center; margin-top: 4.5pt; font-weight: bold;">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</div>
  <div style="margin-top: 4.5pt; font-weight: bold;">Item&#160;3. <font style="font-style: italic;">Documents Incorporated By Reference.</font></div>
  <div style="text-align: justify; margin-top: 4.5pt;">The following documents filed by The Eastern Company (the &#8220;Company&#8221;) with the Securities and Exchange Commission (the &#8220;Commission&#8221;) are incorporated by reference in this Registration Statement:</div>
  <div style="text-align: justify; font-size: 8pt;">&#160;</div>
  <table cellspacing="0" cellpadding="0" id="ze66081833af042668d0fa55189b28f3d" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <div style="text-align: justify; font-size: 8pt;">&#160;</div>
        </td>
        <td style="width: 4%; vertical-align: top;">
          <div style="text-align: justify;">1.</div>
        </td>
        <td style="width: 92%; vertical-align: top;">
          <div style="text-align: justify;">The Company&#8217;s Annual Report on Form 10-K for the fiscal year ended December&#160;28, 2019, filed with the Commission on March 5, 2020.</div>
        </td>
      </tr>

  </table>
  <div style="text-align: justify; font-size: 8pt;">&#160;</div>
  <table cellspacing="0" cellpadding="0" id="z4ff6187c5d2349058d37d42597a35516" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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        <td style="width: 4%; vertical-align: top;">
          <div style="text-align: justify;">2.</div>
        </td>
        <td style="width: 92%; vertical-align: top;">
          <div style="text-align: justify;">Portions of the Company&#8217;s definitive proxy statement on Schedule 14A filed with the SEC on March 5, 2020 that are incorporated by reference into the Company&#8217;s Annual Report on Form 10-K for the year ended
            December 28, 2019.</div>
        </td>
      </tr>
      <tr>
        <td style="width: 4.01%; vertical-align: middle;">&#160;</td>
        <td style="width: 4%; vertical-align: top;">&#160;</td>
        <td style="width: 92%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 4.01%; vertical-align: middle;">
          <div style="text-align: justify; font-size: 8pt;">&#160;</div>
        </td>
        <td style="width: 4%; vertical-align: top;">
          <div style="text-align: justify;">3.</div>
        </td>
        <td style="width: 92%; vertical-align: top;">
          <div style="text-align: justify;">The Company&#8217;s Quarterly Report on Form 10-Q for the fiscal quarter ended March 28, 2020, filed with the Commission on May 6, 2020.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zb74945de8f494fd18295fe8a1a083c3d" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 4.01%; vertical-align: middle;">
          <div style="text-align: justify; font-size: 8pt;">&#160;</div>
        </td>
        <td style="width: 4%; vertical-align: top;">
          <div style="text-align: justify;">4.</div>
        </td>
        <td style="width: 92%; vertical-align: top;">
          <div style="text-align: justify;">The Company&#8217;s Current Report on Form 8-K filed with the Commission on April 30, 2020.</div>
        </td>
      </tr>

  </table>
  <div style="text-align: justify; font-size: 8pt;">&#160;</div>
  <table cellspacing="0" cellpadding="0" id="z49048be8ad5d440e83b7739becc1b3f3" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 4.01%; vertical-align: middle;">
          <div style="text-align: justify; font-size: 8pt;">&#160;</div>
        </td>
        <td style="width: 4%; vertical-align: top;">
          <div style="text-align: justify;">5.</div>
        </td>
        <td style="width: 92%; vertical-align: top;">
          <div style="text-align: justify;">The description of the Company&#8217;s common stock, no par value (the &#8220;Common Stock&#8221;), contained in the Registration Statement on Form 8-A originally filed with the Commission on December 14, 2011, and any amendment
            or report filed for the purpose of updating such description.</div>
        </td>
      </tr>

  </table>
  <div style="text-align: justify; margin-top: 9pt;">In addition, all documents hereafter filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective amendment which
    indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, are hereby incorporated herein by reference and are a part hereof from the date of filing of such documents. Any statement contained herein
    or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed
    document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this
    Registration Statement.</div>
  <div style="text-align: justify; margin-top: 9pt;">Notwithstanding the foregoing, no document or portion thereof, or exhibit to a document, that is &#8220;furnished&#8221; to the Commission, including under Item 2.02 or 7.01 of Form 8-K, prior to, on or subsequent
    to the date hereof, shall be incorporated herein by reference.</div>
  <div style="margin-top: 13.5pt; font-weight: bold;">Item&#160;4. <font style="font-style: italic;">Description of Securities.</font></div>
  <div style="margin-top: 4.5pt;">Not applicable.</div>
  <div style="margin-top: 13.5pt; font-weight: bold;">Item&#160;5. <font style="font-style: italic;">Interests of Named Experts and Counsel.</font></div>
  <div style="margin-top: 4.5pt;">Not applicable.</div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageBreak" style="page-break-after:always;">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <div style="margin-top: 4.5pt; font-weight: bold;">Item&#160;6. <font style="font-style: italic;">Indemnification of Directors and Officers.</font></div>
  <div style="text-align: justify; margin-top: 9pt;"><font style="font-style: italic;">Connecticut Business Corporation Act</font>. Sections 33-770 through 33-776 of the Connecticut Business Corporation Act provide that a corporation that, like the
    Company, was incorporated under the laws of the State of Connecticut prior to January 1, 1997, shall, except to the extent otherwise specifically provided in its certificate of incorporation, indemnify a director or officer against judgments, fines,
    penalties, amounts paid in settlement and reasonable expenses actually incurred by him, including attorneys&#8217; fees, for actions brought against him in his capacity as a director or officer, when it is determined by certain disinterested parties that he
    acted in good faith in a manner he reasonably believed to be in the corporation&#8217;s best interest (or in the case of conduct not in his official capacity, at least not opposed to the best interests of the corporation). In any criminal action or
    proceeding, it also must be determined that the director or officer had no reasonable cause to believe that his conduct was unlawful. The director or officer must be indemnified when he is wholly successful on the merits or otherwise in the defense of
    a proceeding or in circumstances where a court determines that he is entitled to indemnification or that it is fair and reasonable that the director or officer be indemnified. In connection with shareholder derivative suits, the director or officer may
    not be indemnified except for reasonable expenses incurred in connection with the proceeding (and then only if it is determined that he met the relevant standard of conduct described above), subject, however, to courts&#8217; power under Section 33-774 to
    order indemnification. Unless ordered by a court under Section 33-774, a corporation may not indemnify a director with respect to conduct for which he was adjudged liable on the basis that he received a financial benefit to which he was not entitled,
    whether or not he was acting in his official capacity.</div>
  <div style="text-align: justify; margin-top: 9pt;"><font style="font-style: italic;">Certificate of Incorporation</font>. Article Tenth of the Restated Certificate of Incorporation of the Company, as amended, and limit the personal liability of the
    directors to the Company or its shareholders for monetary damages for any breach of duty as a director to an amount equal to the compensation received by the director for serving the Company during the year of the violation.&#160; However, as provided in
    Section 33-636(b)(4) of the Connecticut General Statutes, the protection does not extend to acts or omissions of the directors that involve a knowing and culpable violation of law, enable the director or an associate to receive an improper personal
    economic gain, show a lack of good faith and a conscious disregard for the duty of the director to the Company under circumstances in which the director was aware that his conduct or omission created an unjustifiable risk of serious injury to the
    Company, constitute a sustained and unexcused pattern of inattention amounting to an abdication of the director's duty to the Company, or involve unlawful distributions to the director.</div>
  <div style="text-align: justify; margin-top: 9pt;"><font style="font-style: italic;">By-laws</font>. The Bylaws of the Company, as amended (the &#8220;Bylaws&#8221;), also require the indemnification of the directors and officers of the Company. Article IX of the
    Bylaws provides that the Company shall to the fullest extent permitted by the Connecticut General Statutes, as amended from time to time, indemnify each person whom it may indemnify pursuant thereto, and may provide such indemnification to persons and
    circumstances not expressly covered by said statutes, including matters relating to Federal and state securities laws, as the Board of Directors of the Company may determine from time to time and as is not expressly prohibited by law</div>
  <div style="text-align: justify; margin-top: 9pt;"><font style="font-style: italic;">Directors and Officers Insurance</font>. The Company has also obtained directors' and officers' liability insurance, the effect of which is to indemnify the directors
    and officers of the Company against certain damages and expenses because of certain claims made against them which are caused by their negligent act, error or omission.</div>
  <div style="margin-top: 13.5pt; font-weight: bold;">Item&#160;7. <font style="font-style: italic;">Exemption from Registration Claimed.</font></div>
  <div style="margin-top: 4.5pt;">Not applicable.</div>
  <div style="margin-top: 13.5pt; font-weight: bold;">Item&#160;8. <font style="font-style: italic;">Exhibits.</font></div>
  <div>&#160;</div>
  <table cellspacing="0" cellpadding="0" id="zd823a1cdabd346648577dc51d0a3c971" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 6.18%; vertical-align: top;">
          <div>5.1</div>
        </td>
        <td style="width: 1.32%; vertical-align: bottom;">
          <div style="font-size: 8pt;">&#160;&#160;</div>
        </td>
        <td style="width: 92.5%; vertical-align: top;">
          <div>Opinion of Day Pitney LLP (filed herewith)</div>
        </td>
      </tr>
      <tr>
        <td style="width: 6.18%; vertical-align: middle;">&#160;</td>
        <td style="width: 93.82%; vertical-align: middle;" colspan="2">&#160;</td>
      </tr>
      <tr>
        <td style="width: 6.18%; vertical-align: top;">
          <div>23.1</div>
        </td>
        <td style="width: 1.32%; vertical-align: bottom;">
          <div style="font-size: 8pt;">&#160;&#160;</div>
        </td>
        <td style="width: 92.5%; vertical-align: top;">
          <div>Consent of Fiondella, Milone &amp; Saracina LLP (filed herewith)</div>
        </td>
      </tr>
      <tr>
        <td style="width: 6.18%; vertical-align: middle;">&#160;</td>
        <td style="width: 93.82%; vertical-align: middle;" colspan="2">&#160;</td>
      </tr>
      <tr>
        <td style="width: 6.18%; vertical-align: top;">
          <div>23.2</div>
        </td>
        <td style="width: 1.32%; vertical-align: bottom;">
          <div style="font-size: 8pt;">&#160;&#160;</div>
        </td>
        <td style="width: 92.5%; vertical-align: top;">
          <div>Consent of Day Pitney LLP (included in Exhibit 5.1 hereto)</div>
        </td>
      </tr>
      <tr>
        <td style="width: 6.18%; vertical-align: middle;">&#160;</td>
        <td style="width: 93.82%; vertical-align: middle;" colspan="2">&#160;</td>
      </tr>
      <tr>
        <td style="width: 6.18%; vertical-align: top;">
          <div>24.1</div>
        </td>
        <td style="width: 1.32%; vertical-align: bottom;">
          <div style="font-size: 8pt;">&#160;&#160;</div>
        </td>
        <td style="width: 92.5%; vertical-align: top;">
          <div>Power of Attorney (included on the signature page hereto)</div>
        </td>
      </tr>
      <tr>
        <td style="width: 6.18%; vertical-align: top;">&#160;</td>
        <td style="width: 1.32%; vertical-align: bottom;">&#160;</td>
        <td style="width: 92.5%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 6.18%; vertical-align: top;">
          <div>99.1</div>
        </td>
        <td style="width: 1.32%; vertical-align: bottom;">
          <div style="font-size: 8pt;">&#160;&#160;</div>
        </td>
        <td style="width: 92.5%; vertical-align: top;">
          <div>The Eastern Company 2020 Stock Incentive Plan (filed herewith)</div>
        </td>
      </tr>

  </table>
  <div>
    <div style="margin-bottom: 1.5pt;"><br>
    </div>
    <div><br>
    </div>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageBreak" style="page-break-after:always;">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <div style="margin-top: 13.5pt; font-weight: bold;">Item&#160;9. <font style="font-style: italic;">Undertakings.</font></div>
  <div style="text-align: justify; margin-top: 4.5pt;">(a)<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>The undersigned registrant hereby undertakes:</div>
  <div style="text-align: justify; margin-left: 36pt; margin-top: 4.5pt;">(1)<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>To file, during any period in which offers or sales are being
    made, a post-effective amendment to this Registration Statement:</div>
  <div style="text-align: justify; margin-left: 72pt; margin-top: 4.5pt;">(i) To include any prospectus required by Section&#160;10(a)(3) of the Securities Act of 1933;</div>
  <div style="text-align: justify; margin-left: 72pt; margin-top: 4.5pt;">(ii) To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which,
    individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement;</div>
  <div style="text-align: justify; margin-left: 36pt; margin-top: 4.5pt;">(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information
    in the Registration Statement;<u> provided, however</u>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished
    to the Commission by the registrant pursuant to Section&#160;13 or Section&#160;15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the Registration Statement.</div>
  <div style="text-align: justify; margin-left: 36pt; margin-top: 4.5pt;">(2)<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>That, for the purposes of determining any liability under the
    Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <font style="font-style: italic;">bona fide</font> offering thereof.</div>
  <div style="text-align: justify; margin-left: 36pt; margin-top: 4.5pt;">(3)<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>To remove from registration by means of a post-effective amendment
    any of the securities being registered which remain unsold at the termination of the offering.</div>
  <div style="text-align: justify; margin-top: 9pt;">(b)<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>The undersigned registrant hereby undertakes that, for purposes of determining any
    liability under the Securities Act of 1933, each filing of the registrant&#8217;s annual report pursuant to Section&#160;13(a) or Section&#160;15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&#8217;s annual report
    pursuant to Section&#160;15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
    securities at that time shall be deemed to be the initial <font style="font-style: italic;">bona fide</font> offering thereof.</div>
  <div style="text-align: justify; margin-top: 9pt;">(c)&#160; &#160;<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"></font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;&#160;&#160; </font>Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the
    registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore,
    unenforceable.&#160; In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of
    any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling
    precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageBreak" style="page-break-after:always;">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <div style="text-align: center; margin-top: 12.5pt; font-weight: bold;">SIGNATURES</div>
  <div style="text-align: center; margin-top: 12.5pt; font-weight: bold;"> <br>
  </div>
  <div>
    <div style="text-align: justify; font-weight: bold;">Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
      and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Town of Naugatuck, State of Connecticut, on May 21, 2020.</div>
    <div><br>
    </div>
  </div>
  <table cellspacing="0" cellpadding="0" id="z4b7260f44a24483d968de58ceb3eb67e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 7%; vertical-align: middle;">
          <div style="font-size: 12pt;">&#160;</div>
        </td>
        <td style="width: 1.31%; vertical-align: bottom;">&#160;</td>
        <td style="width: 91.7%; vertical-align: middle;">&#160;<font style="font-weight: bold;">THE EASTERN COMPANY</font></td>
      </tr>
      <tr>
        <td style="width: 100%; vertical-align: top;" colspan="3">
          <div><br>
          </div>
        </td>
      </tr>
      <tr>
        <td style="width: 7%; vertical-align: middle;">&#160;</td>
        <td style="width: 93%; vertical-align: middle;" colspan="2">&#160;</td>
      </tr>
      <tr>
        <td style="width: 7%; vertical-align: top;">
          <div style="text-align: right;">By:</div>
        </td>
        <td style="width: 1.31%; vertical-align: bottom;">
          <div>&#160;</div>
        </td>
        <td style="width: 91.7%; vertical-align: top;">
          <div><u>/s/ John L. Sullivan III</u></div>
        </td>
      </tr>
      <tr>
        <td style="width: 7%; vertical-align: top;">&#160;</td>
        <td style="width: 1.31%; vertical-align: bottom;">
          <div>&#160;</div>
        </td>
        <td style="width: 91.7%; vertical-align: bottom;">
          <div style="font-weight: bold;">John L. Sullivan III</div>
          <div style="font-weight: bold;">Vice President and Chief Financial Officer</div>
        </td>
      </tr>

  </table>
  <div style="text-align: center; margin-top: 18pt; font-weight: bold;">POWER OF ATTORNEY</div>
  <div style="text-align: justify; margin-top: 9pt;">KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints August M. Vlak, John L. Sullivan and Dirk Wieland as attorneys-in-fact and agents, with
    full power of substitution and resubstitution, to sign on his or her behalf, individually and in any and all capacities, including the capacities stated below, any and all amendments (including post-effective amendments) to this Registration Statement
    and any registration statements filed by the registrant pursuant to Rule 462(b) of the Securities Act of 1933, as amended, relating thereto and to file the same, with all exhibits thereto, and other documents in connection therewith, with the
    Securities and Exchange Commission, granting to said attorneys-in-fact and agents, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and
    purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their substitutes, may lawfully do or cause to be done by virtue hereof.</div>
  <div style="text-align: justify; font-weight: bold;"> <br>
  </div>
  <div style="text-align: justify; font-weight: bold;">Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated:</div>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="zfe9b52c1e4fa4740a4d2592c3aa9c442" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 33.08%; vertical-align: top; border-bottom: 2px solid black;">
          <div style="text-align: center; font-weight: bold;">Signature</div>
          <div>&#160;</div>
        </td>
        <td style="width: 42.66%; vertical-align: top; border-bottom: 2px solid black;">
          <div style="text-align: center; font-weight: bold;">Title</div>
          <div>&#160;</div>
        </td>
        <td style="width: 24.25%; vertical-align: top; border-bottom: 2px solid black;">
          <div style="text-align: center; font-weight: bold;">Date</div>
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.08%; vertical-align: top;">
          <div>
            <div style="text-align: center;"><u>/s/ August M. Vlak</u></div>
          </div>
          <div style="text-align: center; font-weight: bold;">August M. Vlak</div>
        </td>
        <td style="width: 42.66%; vertical-align: top;">
          <div style="text-align: center;">President, Chief Executive Officer and Director (Principal Executive Officer)</div>
          <div>&#160;</div>
          <div>&#160;</div>
        </td>
        <td style="width: 24.25%; vertical-align: top;">
          <div style="text-align: center;">May 21, 2020</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.08%; vertical-align: top;">
          <div>
            <div style="text-align: center;"><u>/s/ John L. Sullivan III</u></div>
          </div>
          <div style="text-align: center; font-weight: bold;">John L. Sullivan III</div>
          <div style="text-align: center; font-weight: bold;"> <br>
          </div>
        </td>
        <td style="width: 42.66%; vertical-align: top;">
          <div style="text-align: center;">Vice President and Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)</div>
          <div>&#160;</div>
        </td>
        <td style="width: 24.25%; vertical-align: top;">
          <div style="text-align: center;">May 21, 2020</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.08%; vertical-align: top;">
          <div>
            <div style="text-align: center;"><u>/s/ James A. Mitarotonda</u></div>
          </div>
          <div style="text-align: center; font-weight: bold;">James A. Mitarotonda</div>
          <div>&#160;</div>
        </td>
        <td style="width: 42.66%; vertical-align: top;">
          <div style="text-align: center;">Chairman of the Board</div>
        </td>
        <td style="width: 24.25%; vertical-align: top;">
          <div style="text-align: center;">May 21, 2020</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.08%; vertical-align: top;">
          <div>
            <div style="text-align: center;"><u>/s/ Fredrick D. DiSanto</u></div>
          </div>
          <div style="text-align: center; font-weight: bold;">Fredrick D. DiSanto</div>
          <div>&#160;</div>
        </td>
        <td style="width: 42.66%; vertical-align: top;">
          <div style="text-align: center;">Director</div>
        </td>
        <td style="width: 24.25%; vertical-align: top;">
          <div style="text-align: center;">May 21, 2020</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.08%; vertical-align: top;">
          <div>
            <div style="text-align: center;"><u>/s/ John W. Everets</u></div>
          </div>
          <div style="text-align: center; font-weight: bold;">John W. Everets</div>
          <div>&#160;</div>
        </td>
        <td style="width: 42.66%; vertical-align: top;">
          <div style="text-align: center;">Director</div>
        </td>
        <td style="width: 24.25%; vertical-align: top;">
          <div style="text-align: center;">May 21, 2020</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.08%; vertical-align: top;">
          <div>
            <div style="text-align: center;"><u>/s/ Charles W. Henry</u></div>
          </div>
          <div style="text-align: center; font-weight: bold;">Charles W. Henry</div>
          <div>&#160;</div>
        </td>
        <td style="width: 42.66%; vertical-align: top;">
          <div style="text-align: center;">Director</div>
        </td>
        <td style="width: 24.25%; vertical-align: top;">
          <div style="text-align: center;">May 21, 2020</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.08%; vertical-align: top;">
          <div>
            <div style="text-align: center;"><u>/s/ Michael A. McManus</u></div>
          </div>
          <div style="text-align: center; font-weight: bold;">Michael A. McManus</div>
          <div style="text-align: center; font-weight: bold;"> <br>
          </div>
        </td>
        <td style="width: 42.66%; vertical-align: top;">
          <div style="text-align: center;">Director</div>
        </td>
        <td style="width: 24.25%; vertical-align: top;">
          <div style="text-align: center;">May 21, 2020</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.08%; vertical-align: top;">
          <div>
            <div style="text-align: center;"><u>/s/ Peggy Scott</u></div>
          </div>
          <div style="text-align: center; font-weight: bold;">Peggy Scott</div>
          <div>&#160;</div>
        </td>
        <td style="width: 42.66%; vertical-align: top;">
          <div style="text-align: center;">Director</div>
        </td>
        <td style="width: 24.25%; vertical-align: top;">
          <div style="text-align: center;">May 21, 2020</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>daypitney_opinion.htm
<TEXT>
<html>
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  <div><br>
  </div>
  <div style="text-align: right;">Exhibit 5.1<br>
  </div>
  <div style="text-align: right; margin-top: 9pt; font-weight: bold;"> <br>
  </div>
  <div style="text-align: right; margin-top: 9pt; font-weight: bold;"> <br>
  </div>
  <div style="text-align: right; margin-top: 9pt; font-weight: bold;">DAY PITNEY&#160;<font style="font-size: 8pt;">LLP</font></div>
  <div style="text-align: right; font-size: 8pt;">Attorneys at Law</div>
  <div><br>
  </div>
  <div style="text-align: right; font-size: 8pt;">242 Trumbull Street</div>
  <div style="text-align: right; font-size: 8pt;">Hartford, CT 06103</div>
  <div style="margin-top: 9pt;"> <br>
  </div>
  <div style="margin-top: 9pt;"> May 21, 2020</div>
  <div style="margin-top: 9pt;"> <br>
  </div>
  <div style="margin-top: 9pt;">The Eastern Company</div>
  <div>112 Bridge Street</div>
  <div style="margin-bottom: 10pt;">Naugatuck, CT 06770</div>
  <div style="text-indent: 47.05pt; margin-bottom: 10pt;">Re: <u>The Eastern Company &#8211;
        Registration Statement on Form S-8</u></div>
  <div style="background-color: #FFFFFF;">
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 6pt;">We refer to the Registration Statement on Form S-8 (the &#8220;Registration Statement&#8221;) of The Eastern Company, a
      Connecticut corporation (the &#8220;Company&#8221;), to be filed pursuant to the rules and regulations of the Securities and Exchange Commission (the &#8220;Commission&#8221;) in connection with the registration under the Securities Act of 1933, as amended (the &#8220;Act&#8221;), of
      802,728 shares of the common stock, no par value, of the Company (the &#8220;Shares&#8221;) to be offered pursuant to The Eastern Company 2020 Stock Incentive Plan (the &#8220;Plan&#8221;).</div>
    <div><br>
    </div>
  </div>
  <div style="background-color: #FFFFFF;">
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-top: 12pt; margin-bottom: 6pt;">In connection with our opinion, we have examined the Plan and the Registration Statement. We have
      also examined originals, or copies certified or otherwise identified to our satisfaction, of the Certificate of Incorporation and Bylaws of the Company, as currently in effect, and relevant resolutions of the Board of Directors of the Company (the
      &#8220;Board&#8221;), and we have examined such other documents as we deemed necessary in order to express the opinion hereinafter set forth.&#160;As to questions of fact material to this opinion, we have relied upon certificates or comparable documents of public
      officials and of officers and representatives of the Company.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-top: 12pt; margin-bottom: 6pt;">In our examination of such documents and records, we have assumed the genuineness of all
      signatures, the legal capacity of natural persons, the authenticity of all documents submitted to us as originals, and the conformity with authentic original documents of all of the documents submitted to us as copies.</div>
  </div>
  <div style="background-color: #FFFFFF;">
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 6pt;">Based on the foregoing and in reliance thereon, and subject to the assumptions, qualifications, limitations and
      exceptions set forth herein, we are of the opinion that, when the Registration Statement has become effective under the Act, and the Shares shall have been duly issued in the manner contemplated by the Registration Statement and the Plan, the Shares
      will be validly issued, fully paid and non-assessable.</div>
  </div>
  <div style="background-color: #FFFFFF;">
    <div style="text-align: justify; margin-bottom: 6pt;">&#160;<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>Our opinion herein reflects only the application of the Connecticut Business Corporations Act. We do not purport to cover herein the application of federal law or state
        securities laws to the issuance and sale of the Shares. The opinion set forth herein is made as of the date hereof and is subject to, and may be limited by, future changes in the factual matters set forth herein, and we undertake no duty to advise
        you of the same. The opinion expressed herein is based upon the law in effect (and published or otherwise generally available) on the date hereof, and we assume no obligation to revise or supplement such opinion should such law be changed by
        legislative action, judicial action or otherwise. &#160;</div>
  </div>
  <div style="background-color: #FFFFFF;">
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 6pt;">&#160;<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>This opinion letter is being delivered by us solely for your benefit pursuant to the requirements of Item 601(b)(5) of Regulation S-K under the Act.
        We hereby consent to the filing of this opinion letter as Exhibit 5.1 to the Registration Statement. In giving this consent, we do not hereby admit that we are within the category of persons whose consent is required under Section 7 of the Act or
        the rules and regulations of the Commission thereunder.</div>
    <div><br>
    </div>
  </div>
  <div style="background-color: #FFFFFF;">
    <div><br>
    </div>
    <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif;">Very truly yours,</div>
    <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif;"><u>/s/ Day Pitney LLP</u></div>
    <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif;">DAY PITNEY LLP</div>
    <div><br>
    </div>
  </div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>fml_consent.htm
<TEXT>
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    <title></title>
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  <div><br>
  </div>
  <div style="text-align: right; font-weight: bold;">EXHIBIT 23.1</div>
  <div style="text-align: center;">&#160;</div>
  <div style="text-align: center;">&#160;</div>
  <div style="text-align: center; font-weight: bold;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>
  <div>&#160;</div>
  <div style="background-color: #FFFFFF;">
    <div style="text-align: justify;">We consent to the incorporation by reference in this Registration Statement (Form S-8) of The Eastern Company for the registration of 802,728 shares of its
      common stock pertaining to The Eastern Company 2020 Stock Incentive Plan of our reports dated March 5, 2020, with respect to the consolidated financial statements of The Eastern Company, and the effectiveness of internal control over financial
      reporting of The Eastern Company included in its Annual Report (Form 10-K) for the fiscal year ended December 28, 2019, filed with the Securities and Exchange Commission.</div>
  </div>
  <div style="background-color: #FFFFFF;">
    <div>&#160;</div>
    <div>&#160;</div>
  </div>
  <div style="margin-bottom: 8pt;"><u>/s/ Fiondella, Milone &amp; LaSaracina LLP</u><br>
    Fiondella, Milone &amp; LaSaracina LLP</div>
  <div style="background-color: #FFFFFF;">
    <div><br>
    </div>
    <div>Glastonbury, Connecticut</div>
    <div>May 21, 2020</div>
  </div>
  <div>&#160;</div>
  <div>&#160;</div>
  <div>&#160;</div>
  <div style="margin-bottom: 8pt;"><br>
  </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>2020stockincentive.htm
<TEXT>
<html>
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    <title></title>
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  <div style="text-align: right; font-size: 12pt; font-weight: bold;"> Exhibit 99.1<br>
  </div>
  <div style="text-align: right; font-size: 12pt; font-weight: bold;"> <br>
  </div>
  <div style="text-align: right; font-size: 12pt; font-weight: bold;"> <br>
  </div>
  <div style="text-align: right; font-size: 12pt; font-weight: bold;">Adopted by the Board of Directors on February 19, 2020</div>
  <div style="text-align: right; font-size: 12pt; font-weight: bold;">Approved by the shareholders on April 29, 2020</div>
  <div style="text-align: justify; font-size: 12pt;">&#160;&#160;</div>
  <div style="text-align: center; font-size: 12pt; font-weight: bold;">THE EASTERN COMPANY</div>
  <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">2020 STOCK INCENTIVE PLAN</div>
  <div>
    <table cellspacing="0" cellpadding="0" id="z92aea747e2a74adf942f57e1d9f040d8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 21pt; vertical-align: top; align: right;">
            <div style="margin-left: 3pt; margin-bottom: 12pt; font-size: 12pt;">1.</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;"><u>Purpose</u>.</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">The purpose of The Eastern Company 2020 Stock Incentive Plan (the &#8220;Plan&#8221;) is to promote the interests of The Eastern
    Company and its shareholders by providing a method whereby executives and other key employees of the Company may become owners of the Company&#8217;s common stock by the exercise of stock options or stock appreciation rights or the grant of shares of
    restricted stock or restricted stock units or other awards as permitted by the Plan, and thereby increase their proprietary interest in the Company&#8217;s business, encourage them to remain in the employ of the Company and increase their personal interest
    in its continued success and progress.&#160; In addition, another purpose of the Plan is to promote the interests of the Company by providing a method whereby non-employee directors of the Company may become owners of the Company&#8217;s common stock by the
    exercise of nonqualified stock options or the grant of shares of restricted stock or restricted stock units, or through the payment of their retainer fees and meeting fees in shares of the Company&#8217;s common stock, and thereby increase the proprietary
    interest of the non-employee directors in the Company&#8217;s business and in its continued success and progress, and will encourage qualified individuals to become members of the board of directors of the Company.</div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">2.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Definitions</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">As used herein, the following terms shall have the following meanings:</div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Approval Date&#8221; shall mean the date on which this Plan is approved by the Company&#8217;s shareholders, this Plan having been approved by the Board on
      February 19, 2020.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Award&#8221; shall mean the grant of an incentive stock option, a nonqualified stock option, restricted stock, restricted stock units, or other stock-based
      methods of compensation authorized by Section 6 of the Plan.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(c)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Award Agreement&#8221; shall mean an agreement described in Section 7 of the Plan which is entered into between the Company and a Participant and which sets
      forth the terms, conditions and limitations applicable to an Award granted to the Participant.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(d)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Board&#8221; shall mean the board of directors of The Eastern Company.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(e)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Code&#8221; shall mean the Internal Revenue Code of 1986, as amended.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(f)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Committee&#8221; shall mean the Compensation Committee of the Board or any successor committee with substantially the same responsibilities.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(g)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Company&#8221; shall mean The Eastern Company and each &#8220;parent or subsidiary corporation&#8221; of The Eastern Company (as those terms are defined in Section 424
      of the Code).</font></div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageBreak" style="page-break-after:always;">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <!--PROfilePageNumberReset%Num%2%%%-->
  <div style="margin-bottom: 12pt;"><br>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(h)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Company Common Stock&#8221; shall mean the common stock, no par value, of The Eastern Company.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(i)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Disability&#8221; shall have the meaning set forth in Treasury Regulation Section 1.409A-3(i)(4)(i).</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(k)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Employee&#8221; shall mean an employee of the Company.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(l)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Exchange Act&#8221; shall mean the Securities Exchange Act of 1934, as amended and in effect from time to time, or any successor statute.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(m)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Fair Market Value&#8221; shall mean the reported price at which Company Common Stock was last traded on the day on which such value is to be determined (or,
      if there are no reported trades on such day, the last previous day on which there was a reported trade).</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(n)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Incentive Stock Option&#8221; shall mean a Stock Option which complies with all of the requirements for incentive stock options set forth in Section 422 of
      the Code and which may be issued pursuant to Section 6.1.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(o)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Insider&#8221; shall mean any person who is subject to Section 16 of the Exchange Act.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(p)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Non-Employee Director&#8221; shall mean a member of the Board who is not an Employee.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(q)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Nonqualified Stock Option&#8221; shall mean a Stock Option which does not comply with all of the requirements for Incentive Stock Options set forth in
      Section 422 of the Code and which may be issued pursuant to Section 6.1.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(r)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Participant&#8221; shall mean an Employee or a Non-Employee Director who has been designated by the Committee as eligible to receive an Award pursuant to the
      terms of the Plan.&#160; The only Employees that the Committee may designate as Participants are those Employees who are salaried officers or key employees (whether or not directors) of the Company.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(s)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Prior Directors&#8217; Fee Program&#8221; shall mean The Eastern Company Directors Fee Program, as amended.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(t)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Prior Plan&#8221; shall mean The Eastern Company 2010 Stock Incentive Plan.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(u)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Restricted Stock&#8221; shall mean shares of Company Common Stock which have certain restrictions attached to the ownership thereof and which may be issued
      pursuant to Section 6.2 of the Plan.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(v)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Restricted Stock Unit&#8221; shall mean a Participant&#8217;s right to receive one share of the Company Common Stock (or the cash equivalent thereof), subject to
      certain restrictions and to a risk of forfeiture, at the end of such restricted period, as may be issued pursuant to Section 6.2 of the Plan.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;"> <br>
    </font></div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
    <div id="DSPFPageBreak" style="page-break-after:always;">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <div style="margin-bottom: 12pt;"><br>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(w)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Rule 16b-3&#8221; shall mean Rule 16b-3 promulgated by the Securities and Exchange Commission under the Exchange Act, as now in force or as such regulation
      or successor regulation shall hereafter be amended.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(x)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Section 16&#8221; shall mean Section 16 of the Exchange Act and the rules promulgated thereunder, as they may be amended from time to time.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(y)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Securities Act&#8221; shall mean the Securities Act of 1933, as amended and in effect from time to time, or any successor statute.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(z)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">&#8220;Stock Option&#8221; shall mean a right granted pursuant to Section 6.1 of the Plan to purchase a specified number of shares of Company Common Stock at a
      specified price during a specified period of time.&#160; Stock Options may be either Incentive Stock Options or Nonqualified Stock Options.</font></div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">3.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Administration</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">In order to administer the issuance of Awards to Participants pursuant to the Plan, there shall be a Committee which is appointed by the Board and which
      consists of not less than two Non-Employee Directors of the Company.&#160; Each member of the Committee shall be a non-employee director as such term is defined for purposes of Rule 16b-3.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Subject to the express provisions of the Plan, the Committee shall periodically determine which Employees and/or Non-Employee Directors shall be
      Participants in the Plan and the nature, amount, pricing, timing and other terms of the Awards.&#160; However, in no event may an Incentive Stock Option be granted to a Non-Employee Director.&#160; Each Award shall be evidenced by an Award Agreement which
      shall be signed by an officer of the Company or the Committee, and by the Participant.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(c)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">The Committee shall have full power and authority, subject to such orders or resolutions not inconsistent with the provisions of the Plan as may from
      time to time be issued or adopted by the Board, to construe and interpret the provisions of and administer the Plan and the Award Agreements.&#160; Subject to any applicable provisions of the certificate of incorporation or the bylaws of the Company, all
      such decisions shall be final and binding on all persons including the Company and its shareholders, Employees, Non-Employee Directors and Participants.&#160; In the event of any conflict between an Award Agreement and the Plan, the terms of the Plan
      shall govern.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(d)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">The Committee may delegate to designated officers or employees of the Company the authority to execute and deliver such instruments and documents, to do
      all such acts and things, and to take all such other steps deemed necessary or advisable for the effective administration of the Plan in accordance with its terms and purpose.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(e)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">It is the intent of the Company that the Plan and the Awards granted
        hereunder shall satisfy and be interpreted in a manner that, in the case of Participants who are or may be Insiders, satisfies the applicable requirements of Rule 16b-3, so that such persons will be entitled&#160;to the benefits of Rule 16b-3 or other exemptive rules under Section 16 and will not be subjected to avoidable liability thereunder.&#160; If any provision of the Plan or of any such Award would</font></div>
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    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
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  </div>
  <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">otherwise frustrate or conflict with the intent expressed in this Section 3(e), that provision (to the extent possible) shall be
    interpreted and deemed amended so as to avoid such conflict.&#160; To the extent of any remaining irreconcilable conflict with such intent, the provision shall be deemed void as applicable to Insiders.</div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">4.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Eligibility</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">Awards may be granted only to those Employees and/or Non-Employee Directors who are designated as Participants from
    time to time by the Committee.&#160; However, in no event may an Incentive Stock Option be granted to a Non-Employee Director.&#160; Subject to the express conditions of the Plan, the Committee shall determine which Employees and/or Non-Employee Directors shall
    be Participants, the types of Awards to be made to Participants, and the terms, conditions and limitations applicable to the Awards.&#160; More than one Award may be granted to the same Participant. Non-Employee Directors shall be eligible to receive shares
    of Company Common Stock in payment of Directors&#8217; Fees in accordance with the Plan.</div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">5.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Shares Subject to the Plan</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">The total amount of Company Common Stock with respect to which Awards may be granted under the Plan shall not exceed
    in the aggregate (i) 500,000 shares of Company Common Stock, plus (ii) the number of shares of Company Common Stock available for future awards under the Prior Plan as of the Approval Date, plus (iii) the number of shares of Company Common Stock
    related to any award outstanding under the Prior Plan as of the Approval Date that thereafter lapses, expires, terminates, ceases to be exercisable or is forfeited without the issuance of such shares of Company Common Stock, plus (iv) the number of
    shares of Company Common Stock available for payment of Directors&#8217; Fees under the Prior Directors&#8217; Fee Program and previously registered on a Registration Statement on Form S-8 filed by the Company.&#160; The shares relating to Awards granted under the Plan
    shall be authorized but unissued shares of Company Common Stock.&#160; No grants will be made under the Prior Plan or the Prior Directors&#8217; Fee Program after the Approval Date.</div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">Subject to the limitations of the Code
      and Rule 16b-3 (if applicable), if any Awards under the Plan, in whole or in part, are forfeited, terminated, expire unexercised, are settled in cash in lieu of shares, are exchanged for other Awards or are released from a reserve for failure
    to meet the maximum payout, the shares that were subject to or reserved for such Awards shall again be available for Awards under the Plan to the extent of such forfeiture, termination, expiration, settlement in cash, or exchange of such Awards or to
    the extent the shares were so released from a reserve.&#160; Notwithstanding anything else herein to the contrary, the following shares will not be available for subsequent issuance: shares tendered for to satisfy an exercise price, shares withheld to
    satisfy tax withholding, and shares not delivered under stock appreciation right awards.&#160; This paragraph shall apply to the number of shares reserved and available for Incentive Stock Options only to the extent consistent with applicable regulations
    relating to Incentive Stock Options under the Code.</div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">6.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Awards</u>.</font></div>
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    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
    <div id="DSPFPageBreak" style="page-break-after:always;">
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  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">Awards may include those described in
      this Section 6. The Committee may grant Awards singly or in combination with other Awards, as the Committee may in its sole discretion determine. Notwithstanding anything else herein to the contrary, the minimum stated vesting period for
    Awards granted under the Plan shall be one (1) year; provided, however, that (i) Awards granted to Non-Employee Directors under Section 6.3 shall not be subject to this minimum vesting requirement and (ii) up to 5% of the shares of Company Common Stock
    reserved hereunder may be available for grant in the form of Awards that vest in less than one year (Awards granted pursuant to Section 6.3 shall not apply towards this 5% carve-out).</div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">6.1.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Stock Options</u>.</font></div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">The exercise price of each Stock Option shall be determined by the Committee.&#160; In no event shall the exercise price be less than one hundred percent
      (100%) of the Fair Market Value of the shares of Company Common Stock at the time of grant of the Stock Option.</font></div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">In no event shall an Incentive Stock Option be granted to a Non-Employee Director.&#160; In addition, an Incentive Stock Option shall not be granted under
      the Plan to an Employee who, at the time of such grant, owns (actually or constructively) more than ten percent (10%) of the total voting power of all classes of stock of the Company, unless the purchase price of the shares subject to such Incentive
      Stock Option is at least one hundred ten percent (110%) of the Fair Market Value of the shares of Company Common Stock at the time of the grant of the option and the option is not exercisable after the expiration of five years from the date it is
      granted.</font></div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(c)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">No Stock Option intended to be an Incentive Stock Option shall be exercisable in whole or in part after ten years from the date it is granted.&#160; The
      Committee, in its discretion, may impose vesting or other restrictions which provide that a Stock Option may not be exercised in whole or in part for any period or periods of time specified by the Committee, or may provide for the amendment of
      outstanding unvested Stock Options in order to accelerate the vesting of such Stock Options.&#160; Except as may be so provided and except as provided in Section 6.1(d), any Stock Option may be exercised in whole at any time, or in part from time to time,
      during its term.</font></div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(d)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Any Stock Option, the term of which has not theretofore expired, may be exercised during the optionee&#8217;s employment with the Company or during the
      optionee&#8217;s service as a Non-Employee Director.&#160; In addition, subject to the condition that no Stock Option may be exercised in whole or in part after its term expires:</font></div>
  <div style="text-align: justify; text-indent: 108pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(i)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">upon the termination of an optionee&#8217;s employment or service as a Non-Employee Director other than by reason of death, the optionee may, within three
      months after the date of such termination, exercise such option in whole or in part to the extent it was exercisable (or became exercisable) at the time of his or her termination of employment or service as a Non-Employee Director, and after such
      three month period the right to exercise the Stock Option shall cease; <font style="font-style: italic;">provided, however</font>, that: (A) if such termination is due to Disability,
      such three month period shall be extended to twelve (12) months; and (B) if such termination is</font></div>
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    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
    <div id="DSPFPageBreak" style="page-break-after:always;">
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  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">due to retirement at or after attaining age sixty-five (65), such three month period shall be extended to twelve (12) months; and</div>
  <div style="text-align: justify; text-indent: 108pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(ii)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">upon the death of any optionee, either prior to the termination of his or her employment or service as a Non-Employee Director or within the three month
      or twelve (12) month period referred to in Section 6.1(d)(i) above, such optionee&#8217;s estate (or the person or persons to whom such optionee&#8217;s rights under the Stock Option are transferred by will or the laws of descent and distribution) may, within
      twelve (12) months after the date of such optionee&#8217;s death, exercise such Stock Option in whole or in part to the extent it was exercisable (or became exercisable) at the time of his or her death, and after such twelve (12) month period the right to
      exercise the Stock Option shall cease.</font></div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(e)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">The exercise price of each share subject to a Stock Option shall, at the
        time of exercise of the Stock Option, be paid in full in cash, or with previously acquired shares of&#160;Company Common Stock having an aggregate Fair Market Value at
        such time equal to the exercise price, or in cash and such shares. To the extent permissible under applicable tax, securities and other laws, the Committee may, in its sole discretion, permit the Participant to satisfy the exercise price by
        directing the Company to withhold shares of Company Common Stock to which the Participant is entitled as a result of the exercise of a Stock Option.</font></div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(f)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Upon the exercise of a Stock Option, a certificate or certificates representing the shares of Company Common Stock so purchased shall be delivered to
      the person entitled thereto or such shares shall be held in book entry form.</font></div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(g)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">An optionee shall have no rights as a shareholder with respect to shares subject to his or her Stock Option until such shares are issued to him or her
      and are fully paid, and no adjustment will be made for dividends or other rights for which the record date is prior thereto.</font></div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(h)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Each Stock Option granted under the Plan shall by its terms be non-transferable by the optionee other than by will or the laws of descent and
      distribution and, during the lifetime of the optionee, shall be exercisable only by the optionee.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">6.2</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Restricted Stock and Restricted Stock Units</u>.</font></div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Vesting.&#160; Restricted Stock and Restricted Stock Units will vest over such period as is determined by the Committee, subject to the first paragraph of
      Section 6.&#160; Time-based Restricted Stock and Restricted Stock Units shall automatically vest upon a Participant&#8217;s termination of employment as a result of death or
      Disability, unless otherwise provided in the applicable Award Agreements.</font></div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Restrictions. Restricted Stock and Restricted Stock Units shall be subject to such restrictions on transferability, risk of forfeiture and other
      restrictions, if any, as the Committee may impose.&#160; Restrictions on Restricted Stock and Restricted Stock Units may lapse separately or in combination at such times,
      under such circumstances (including based on achievement of performance goals and/or future service requirements), in such installments or otherwise and under such other circumstances as the Committee may determine at the date of grant or
      thereafter.&#160; Delivery of Company Common Stock (or cash equivalent) in connection</font></div>
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    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
    <div id="DSPFPageBreak" style="page-break-after:always;">
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  <div style="margin-bottom: 12pt;"><br>
  </div>
  <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">with the lapse of restrictions with respect to Restricted Stock Units shall occur at such times (which need not be at the time of the
    lapse of restrictions) as the Committee shall determine.&#160; Except to the extent restricted under the terms of the Plan and any Award Agreement relating to the Restricted Stock, a Participant granted Restricted Stock shall have all of the rights of a
    shareholder, including the right to vote the Restricted Stock and the right to receive dividends thereon (subject to any mandatory reinvestment or other requirement imposed by the Committee and further subject to the provisions of subsection (e)
    below).&#160; In the case of Restricted Stock Units, no shares of Company Common Stock shall be issued at the time an Award is made, and the Company shall not be required to set aside a fund for the payment of such Award.</div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(c)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Forfeiture.&#160; Except as otherwise determined by the Committee or as otherwise set forth herein or in an applicable Award Agreement, upon termination of employment or service during the applicable restriction period, Restricted Stock and Restricted Stock Units that are at that time subject to restrictions shall
      be forfeited and, in the case of Restricted Stock, reacquired by the Company; provided, however, that the Committee may determine in any Award Agreement or otherwise, that restrictions or forfeiture conditions relating to Restricted Stock will lapse
      in whole or in part, including in the event of terminations resulting from specified causes.</font></div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(d)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Certificates for Stock.&#160; Restricted Stock granted under the Plan may be evidenced in such manner as the Committee shall determine, including in
      book-entry form.&#160; If certificates representing Restricted Stock are registered in the name of the Participant, the Committee may require that such certificates bear
      an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Stock, that the Company retain physical possession of the certificates, and that the Participant deliver a stock power to the Company, endorsed in
      blank, relating to the Restricted Stock.&#160; With respect to Restricted Stock Units, settlement shall be made in Company Common Stock, cash, or a combination of the two, as determined by the Committee.</font></div>
  <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">&#160;(e)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Dividends, Dividend Equivalents and Splits.&#160; (i) As a condition to the grant of an Award of Restricted Stock, the Committee may provide that any
      dividends paid on a share of Restricted Stock shall be either (A) paid with respect to such Restricted Stock at the dividend payment date in cash, in kind, or in a number of shares of unrestricted Company Common Stock having a Fair Market Value equal
      to the amount of such dividends, or (B) automatically reinvested in additional Restricted Stock or held in kind; provided, however, in the case of either (A) or (B), any cash, shares or additional Restricted Stock shall be credited to the
      Participant&#8217;s account and shall be subject to the same terms and conditions as the underlying Restricted Stock to which it relates.&#160; (ii) With respect to Restricted
      Stock Units, the Committee shall determine whether the Restricted Stock Unit Award will be credited with dividend equivalents equal to dividends paid on Stock during the restricted period and, if so, when and in what form such dividend equivalents
      will be paid.&#160; Any dividend equivalents credited with respect to a Restricted Stock Unit Award shall be subject to the same terms and conditions as the underlying Restricted Stock Unit Award to which such dividend equivalents relate. (iii) Company
      Common Stock distributed in connection with a stock split or stock dividend, and other property distributed as a dividend, shall be subject to restrictions and a risk of forfeiture to the same extent as the Restricted Stock with respect to which such
      Company Common Stock or other property relates.&#160; For purposes of clarity, in no event shall any dividends or dividend</font></div>
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    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
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  </div>
  <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">equivalents be paid unless and until the Award associated with such dividend or dividend equivalent has vested.</div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">6.3</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Non-Employee Director Fee Program</u>. The Committee may grant
      Awards in the form of shares of Company Common Stock to Non-Employee Directors under the Company&#8217;s Directors Fee Program, as may be in effect from time to time.&#160; Notwithstanding anything herein to the contrary, such Awards need not be evidenced by an
      Award Agreement.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">6.4</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Other Awards</u>.&#160;The Committee may from time to time grant shares of Company Common Stock, other stock-based and non-stock-based Awards (including,
        without limitation, Awards pursuant to which shares of Company Common Stock are or may in the future be acquired), Awards denominated in stock units, securities convertible into shares of Company Common Stock, stock appreciation rights, performance
        shares, phantom securities and dividend equivalents.&#160; Any such Awards granted pursuant to this Section 6.4 may be settled in shares of Common Stock, cash or other property, as determined by the Committee in its discretion, as provided in the Award
        Agreement. The Committee shall determine the terms and conditions of such Awards; <font style="font-style: italic;">provided, however</font>, that such Awards shall not be inconsistent with the terms and purposes of the Plan.</font></div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">7.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Award Agreements</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">Each Award granted under the Plan shall be evidenced by an Award Agreement setting forth the number of shares of
    Company Common Stock subject to the Award, and such other terms and conditions applicable to the Award as are determined by the Committee.&#160; By acceptance of an Award, the Participant thereby agrees to such terms and conditions and to the terms of the
    Plan pertaining thereto.</div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">8.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Term of Plan</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">The Plan shall terminate on February 19, 2030 (ten years after the date of its adoption by the Board) or upon any
    earlier termination date established by action of the Board, and no Awards shall be granted thereafter.&#160;&#160;Such termination shall not affect the validity of any Awards then outstanding.</div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">9.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Adjustment Provisions</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">If through, or as a result of, any merger, consolidation, sale of all or substantially all of the assets of the Company, reorganization,
      recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction: (i) the outstanding shares of Company Common Stock are increased or decreased or are exchanged for a different number or kind of shares
      or other securities of the Company, or (ii) additional shares or new or different shares or other securities of the Company or other non-cash assets are distributed with respect to shares of Company Common Stock or other securities, then the
      aggregate number of shares of Company Common Stock subject to the Plan, the number of shares of Company Common Stock subject to each outstanding Award, and the exercise price per share in each such outstanding Award, shall be proportionately
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  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">8</font></div>
    <div id="DSPFPageBreak" style="page-break-after:always;">
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  </div>
  <div><br>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Any adjustments under this Section 9 will be made by the Board, whose
        determination as to what adjustments, if any, will be made and the extent thereof will be final,&#160;binding and conclusive.&#160; No fractional shares will be issued
        pursuant to an Award on account of any such adjustments.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(c)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">No adjustments shall be made under this Section 9 which would, within the meaning of any applicable provision of the Code, constitute a modification,
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  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">10.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Amendments and Discontinuance</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">The Board may amend, suspend or discontinue the Plan, but may not, without the prior approval of the shareholders of
    the Company, make any amendment (i) which operates: (a) to abolish the Committee, change the qualification of its members or withdraw its authority to interpret or administer the Plan; (b) to make any material change in the class of eligible Employees
    under the Plan; (c) to increase the total number of shares for which Awards may be granted under the Plan except as permitted by the provisions of Section 9 hereof; (d) to extend the term of the Plan; (e) to permit adjustments or reductions of the
    price at which shares may be acquired under an Award previously-granted under the Plan except as permitted by the provisions of Section 9 hereof; (f) to extend the maximum Incentive Stock Option period; or (g) to decrease the minimum Incentive Stock
    Option price; or (ii) which otherwise requires approval under the rules of any stock exchange upon which the Company&#8217;s securities are then listed.</div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">11.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Continuance of Employment or Service as a Non-Employee Director</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">Neither the Plan nor the grant of any Award hereunder shall interfere with or limit in any way the right of the
    Company to terminate any Employee&#8217;s employment or to terminate the service of any Non-Employee Director at any time and for any reason, nor shall the Plan or the grant of any Award hereunder impose any obligation on the Company to continue the
    employment of any Employee or the service of any Non-Employee Director.</div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">12.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Tax Withholding</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">The Participant shall be responsible for the payment of all federal, state and local taxes relating to the grant,
    vesting or exercise of any Award granted under the Plan.&#160; The Company shall have the power to withhold, or to require a Participant to remit to the Company, an amount sufficient to satisfy federal, state and local withholding tax requirements on any
    Award granted under the Plan.&#160; To the extent permissible under applicable tax, securities and other laws, the Committee may, in its sole discretion, permit the Participant to satisfy a tax withholding requirement by directing the Company to withhold
    shares of Company Common Stock to which the Participant is entitled as a result of the exercise of a Stock Option or stock-settled stock appreciation rights award or the lapse of restrictions on shares of Restricted Stock or delivery of Company Common
    Stock in connection with Restricted Stock Units.</div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
    <div id="DSPFPageBreak" style="page-break-after:always;">
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  </div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">13.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Required Notifications by Participant</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">If any Participant shall, in connection with an Award, make an election pursuant to Section 83(b) of the Code (whereby the Participant elects to include
      in gross income in the year of the transfer the amount specified in Section 83(b) of the Code), then such Participant shall notify the Company of such election within ten (10) days of the filing of such election with the Internal Revenue Service.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">If any Participant shall dispose of shares of Company Common Stock issued pursuant to the exercise of an Incentive Stock Option under the circumstances
      described in Section 421(b) of the Code (whereby the Participant makes a disqualifying disposition of the shares before expiration of the applicable holding periods), then such Participant shall notify the Company of such disqualifying disposition
      within ten (10) days of the disposition.</font></div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">14.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Limits of Liability</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Any liability of the Company to any Participant with respect to an Award shall be based solely upon the contractual obligations created by the Plan and
      the applicable Award Agreement.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Neither the Company, nor any member of the Board or the Committee, nor any other person participating in the determination of any question under the
      Plan or the interpretation, administration or application of the Plan, shall have any liability to any party for any action taken or not taken, in good faith, under the Plan.</font></div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">15.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Requirements of Law</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">The grant of Awards and the issuance of shares of Company Common Stock upon the exercise of an Award shall be subject
    to all applicable laws, rules and regulations, and to such approvals by any governmental agencies as may be required.</div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">16.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Governing Law</u>.</font></div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">The Plan, and all Award Agreements hereunder, shall be construed pursuant to and in accordance with the laws of the
    State of Connecticut.&#160; The parties to the Plan and each Award Agreement agree that the state and federal courts of Connecticut shall have jurisdiction over any suit, action or proceeding arising out of, or in any way related to, the Plan or any Award
    Agreement.&#160; The parties waive, to the fullest extent permitted by law, any objection which any of them may have to the venue of any such suit, action or proceeding brought in such courts, and any claim that such suit, action or proceeding brought in
    such courts has been brought in an inconvenient forum.&#160;&#160;In the event that any party shall not have appointed an agent for service of process in Connecticut, the party agrees that it may be served with process by registered or certified mail, return
    receipt requested, to the party at its respective address as reflected on the records of the Company.&#160; All notices shall be deemed to have been given as of the date so delivered or mailed.</div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">17.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>Effective Date</u>.&#160;The Plan shall be effective as of the Approval Date.</font></div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
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  </div>
  <div><br>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">IN WITNESS WHEREOF, the undersigned has executed this Plan on behalf of the Company as of February 19,<font style="font-weight: bold;">&#160;</font>2020 (the date of the Plan&#8217;s adoption by the Board).</div>
  <div style="text-align: justify; font-size: 12pt;">&#160;</div>
  <div style="text-align: justify;"><font style="font-size: 12pt;">Witness:</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 252pt">&#160;</font><font style="font-size: 12pt;">THE EASTERN COMPANY</font></div>
  <div style="text-align: justify; font-size: 12pt;">&#160;</div>
  <div style="text-align: justify; font-size: 12pt;">&#160;</div>
  <table cellspacing="0" cellpadding="0" id="z52fa046913704b3ab4d81304ad2e1bd7" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: 42.3%; vertical-align: top;">
          <div style="text-align: justify;"><font style="font-size: 12pt;"><u>/s/Theresa P. Dews</u></font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 108pt">&#160;</font></div>
        </td>
        <td style="width: 11.55%; vertical-align: top;">&#160;</td>
        <td style="width: 46.15%; vertical-align: top;">
          <div style="text-align: justify; font-size: 12pt;">By: <u>/s/August M. Vlak</u></div>
        </td>
      </tr>
      <tr>
        <td style="width: 42.3%; vertical-align: top;">
          <div style="text-align: justify; font-size: 12pt;">Its Secretary</div>
        </td>
        <td style="width: 11.55%; vertical-align: top;">&#160;</td>
        <td style="width: 46.15%; vertical-align: top;">
          <div style="text-align: justify; font-size: 12pt;">Name: August M. Vlak</div>
        </td>
      </tr>
      <tr>
        <td style="width: 42.3%; vertical-align: top;">&#160;</td>
        <td style="width: 11.55%; vertical-align: top;">&#160;</td>
        <td style="width: 46.15%; vertical-align: top;">
          <div style="text-align: justify; font-size: 12pt;">Title: President and CEO</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font></div>
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