0001003297-21-000039 Sample Contracts

MECHANICAL TECHNOLOGY, INCORPORATED Option Agreement
Option Agreement • March 31st, 2021 • Mechanical Technology Inc • Measuring & controlling devices, nec • Nevada

This Option Agreement (this "Agreement") for the award of an Option, pursuant to the Mechanical Technology, Incorporated 2021 Stock Incentive Plan, as amended and in effect from time to time (the "Plan"), is made as of date set forth below (the "Grant Date"), by and between Mechanical Technology, Incorporated (the "Company") and the individual identified below the optionee (the "Optionee"). Initially capitalized terms not otherwise defined in this Agreement shall have the meanings given to those terms in the Plan. The Terms and Conditions attached hereto are also a part hereof.

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AGREEMENT AND PLAN OF MERGER
Merger Agreement • March 31st, 2021 • Mechanical Technology Inc • Measuring & controlling devices, nec • Nevada

This AGREEMENT AND PLAN OF MERGER (this "Agreement") is entered into as of March 26, 2021 by and between Mechanical Technology, Incorporated, a New York corporation ("MKTY-NY") and Mechanical Technology, Incorporated, a company organized under the laws of the State of Nevada and a wholly-owned subsidiary of MKTY-NY ("MKTY-NV").

Restricted Stock Unit Agreement
Restricted Stock Unit Agreement • March 31st, 2021 • Mechanical Technology Inc • Measuring & controlling devices, nec • Nevada

Mechanical Technology, Incorporated (the "Company") hereby enters into this Restricted Stock Unit Agreement, dated as of the date set forth below, with the Recipient named herein (the "Agreement") and grants to the Recipient the Restricted Stock Units ("RSUs") specified herein pursuant to the Mechanical Technology, Incorporated 2021 Stock Incentive Plan, as amended and in effect from time to time. The Terms and Conditions attached hereto are also a part hereof.

Restricted Stock Agreement
Restricted Stock Agreement • March 31st, 2021 • Mechanical Technology Inc • Measuring & controlling devices, nec • Nevada

Mechanical Technology, Incorporated (the "Company") hereby enters into this Restricted Stock Agreement, dated as of the date set forth below, with the Recipient named herein (the "Agreement") and grants to the Recipient the shares of Restricted Stock specified herein pursuant to the Mechanical Technology, Incorporated 2021 Stock Incentive Plan, as amended and in effect from time to time. The Terms and Conditions attached hereto are also a part hereof.

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