It already exists and is being modified.

Here is a discussion I had with Chris Chu

http://agoracom.com/ir/POETTechnologies/forums/discussion/topics/579595-poison-pill-hostile-takeover-discussion-with-chris-chu/messages/1818536#message

Poet Technology News

http://poet-technologies.com/poet-technologies-special-strategic-committee-announces-key-updates/

Shareholder Rights Plan (SRP) – As previously announced on August 16th, the Board of Directors has adopted a shareholder rights plan (the “Rights Plan”) designed to encourage the fair and equal treatment of shareholders in connection with any take-over bid for the outstanding securities of the Company. The Rights Plan provides the Board of Directors with additional time to assess the advantages and disadvantages to any particular offer and to seek out alternative proposals in the best interests of all shareholders. The Rights Plan is subject to approval of the TSX Venture Exchange and the shareholders. The Company is required to seek shareholder approval to re-approve the Rights Plan every three years. The Company has not adopted the Rights Plan in response to any specific proposal to acquire control of its outstanding shares. The Rights Plan is similar to plans adopted by other Canadian companies and ratified by their shareholders. It is not the intention of the Rights Plan to entrench management or prevent a change of control of the Company to the detriment of shareholders. The Rights Plan does not apply to take-over bids that meet certain requirements including that the bid be made by way of a take-over bid circular and be left open for at least 60 days so as to ensure that shareholders have an adequate opportunity to assess the merits of the bid.

A copy of the Rights Plan will be made available for viewing in due course on SEDAR at www.sedar.com, and can also be obtained from the Company.