Exhibit 10.22

 

KOPIN CORPORATION

 

STOCK OPTION AGREEMENT

 

UNDER THE KOPIN CORPORATION 2001 EQUITY INCENTIVE PLAN

 

AGREEMENT dated as of [            ] between Kopin Corporation, a Delaware
corporation (the “Company”), and [                    ] (the “Optionee”).

 

1. Grant of Option. Pursuant to the Company’s Amended and Restated 2001 Equity
Incentive Plan as attached hereto as Exhibit A (the “Plan”), the Company grants
to the Optionee an option (the “Option”) to purchase from the Company all or any
part of a total of [            ] ([            ]) shares (the “Optioned
Shares”) of the Company’s common stock, par value $.01 per share (the “Stock”),
at a price of [            ] per share. This Option is granted as
[                    ].

 

2. Character of Option. Option’s issued are to be treated as a [“nonqualified
stock option” or “incentive stock option”] within the meaning of Section 422 of
the Internal Revenue Code of 1986, as amended.

 

3. Duration of Option. This Option shall expire on the earlier of (a)
[            ] and (b) the 90th day following the Optionee’s termination of
employment (or consultancy) for any reason.

 

4. Exercise of Option. Until its expiration, this Option may be exercised, in
the manner specified in Section 7 of the Plan, in those installments of Optioned
Shares identified in the table below, in full or in part, within the exercise
period set forth opposite each such installment; provided, however, that, after
termination of the Optionee’s employment or consultancy this Option shall, until
its expiration, be exercised only to the extent exercisable immediately prior to
such termination.

 

    

Vested Shares:

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Prior to the [             ] anniversary   

[    ]% of Shares

    of this Agreement      After the [             ] anniversary and   

[    ]% of Shares

    up to and including the [             ]          anniversary of this
Agreement      After the [             ] anniversary   

[    ]% of Shares

    and up to and including the          [             ] anniversary of this   
      Agreement      After the [            ] anniversary   

[    ]% of Shares

    and up to and including the          [            ] anniversary of     
    this Agreement      After the [            ] anniversary   

[    ]% of Shares

    of this Agreement     

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5. Transfer of Options. This Option shall not be transferable except by will or
the laws of descent and distribution, and, during the lifetime of the Optionee,
may be exercised only by the Optionee, except as provided in Section 7 of the
Plan.

 

6. Incorporation of Plan Terms. This Option is granted subject to all of the
applicable terms and provisions of the Plan, including but not limited to the
limitations on the Company’s obligation to deliver Optioned Shares upon exercise
set forth in Section 9 (Settlement of Awards).

 

7. Miscellaneous. This Agreement shall be construed and enforced in accordance
with the laws of the Commonwealth of Massachusetts and shall be binding upon and
inure to the benefit of any successor or assign of the Company and any executor,
administrator, trustee, guardian, or other legal representative of the Optionee.

 

IN WITNESS WHEREOF, the parties have executed this Agreement as a sealed
instrument as of the date first above written.

 

KOPIN CORPORATION

       

By:

 

 

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By:

 

 

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Chief Financial Officer

      Optionee