"POET is in the photonic integrated circuit market and Adtran is in the optical networking and communications market. POET has an agreement with Adtran to supply its photonic integrated circuit based modules for use in Adtran's optical transceivers."

Agreements are often associated with contracts; however, "agreement" generally has a wider meaning than "contract," "bargain," or "promise. " A contract is a form of an agreement that requires additional elements, such as consideration.

Babaoriley is welcome to weigh-in on this.