Exhibit 10.3
 Biodel Inc.  2010 Stock Incentive Plan  Nonstatutory Stock Option Agreement
 Company Option Plan Option Shares Exercise Price
 Schedule I Term Expiration Date
   Option
    
    While your Option remains in effect under the Expirationsection below,Exercisability  you may exercise any exercisable portions of the Option (and buy the Option Shares)under the timing rules Schedule I specifies under Option Exercisability Provisions.Method of
Exercise and
Payment for
Shares
    
    Subject to this Agreement and the Plan, you may exercise an Option only
by providing a written notice (or notice through another previously
approved method, which could include a web-based or voice- or e-mail
system) to the Secretary of the Company or to whomever the Board (or the Committee)
designates, that is received on or before the date the Option expires. Each such notice
must satisfy whatever procedures then apply to the Option and must contain such
representations (statements from you about your situation) as the Company requires. You
must, at the same time, pay the Exercise Price using one or more of the following methods:
 Cash/Check
    
    cash or by check, payable to the order of the Company;Cashless
Exercise
    
    (i) delivery of an irrevocable and unconditional undertaking
by a creditworthy broker to deliver promptly to the Company sufficient funds to pay
the exercise price and any required tax withholding or (ii) delivery by you to the
Company of a copy of irrevocable and unconditional instructions to a creditworthy
broker to deliver promptly to the Company cash or a check sufficient to pay the
exercise price and any required tax withholding;Stock
    
    delivery (either by actual delivery or attestation) of shares of Common Stock
owned by you valued at their Fair Market Value, provided (i) such method of payment is
then permitted under applicable law, (ii) such Common Stock, if acquired directly from
the Company, was owned by you for such minimum period of time, if any, as may be
established by the Board in its discretion and (iii) such Common Stock is not subject
to any repurchase, forfeiture, unfulfilled vesting or other similar requirements;Net Exercise
    
    delivery of a notice of net exercise to the Company, as a result of
which you would pay the exercise price for the portion of the Option being exercised by
cancelling a portion of the Option for such number of shares as is equal to the
exercise price divided by the excess of the Fair
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Market Value on the date of exercise
over the Option exercise price per share; orany combination of the above permitted forms of payments.The Board (or the Committee) can approve additional payment methods
subject to any prohibitions under applicable law.
 Expiration
    
    You cannot exercise an Option that has expired. The Option will expire no later than the close of business on the
Term Expiration Date shown on Schedule I. The Option Expiration Rulesin Schedule I provide the circumstances under
which the Option will terminate before the Term Expiration Date because of, for example, your termination of
employment or other service providing relationship. Except as the Board (or the Committee) otherwise determines,
the Plan will treat your service-providing relationship (and any further increases in exercisability of the Option)
as ending if you are an employee or member of the Board of Directors on the Date of Grant and become an independent
contractor. The Board (or the Committee) can override the expiration provisions of Schedule I.Substantial 
Corporate 
Change
    
    If a Reorganization Eventor Change in Control Event(each as defined in
the Plan) occurs while you remain employed by the Company, the Option
will be treated as provided in the Plan, except as Schedule I may otherwise provide or the Board (or the Committee)
otherwise determines.Compliance 
with Law
    
    You may not exercise an Option if the Companys issuing stock upon
such exercise would violate any applicable federal or state securities laws or other laws or regulations. You may
not sell or otherwise dispose of the Option Shares in violation of applicable law. As part of this prohibition,
you may not use any exercise procedure that includes a sale on the market if the Companys insider trading policy
then prohibits you from selling to the market.Additional
Conditions

to Exercise
    
    The Company may postpone issuing and delivering any Option Shares
for so long as the Company determines to be advisable to satisfy the
following:
 its completing or amending any securities registration or
qualification of the Option Shares orits or your satisfying any
exemption from registration under any Federal or state law, rule, or
regulation;its receiving proof it considers satisfactory that a person seeking
to exercise the Option after your death is entitled to do so;your complying with any requests for representations under the Plan;
andits or your complying with any federal, state, or local tax
withholding obligations.
 Additional 
Representations 
from You
    
    If you exercise an Option at a time when the Company does not have a
current registration statement (generally on Form S-8) under the
Securities Act of 1933 (the Act) that covers issuances of shares to you,
you must comply with the following before the Company will issue the Option
Shares to you. You must 
 represent to the Company, in a manner satisfactory to the Companys
counsel, that you are acquiring the Option Shares for your own
account and not with a view to reselling or distributing the Option
Shares; and
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agree that you will not sell, transfer, or otherwise dispose of the
Option Shares unless:
   No Effect on 
Employment 
or Other 
Relationship
    
    Nothing in this Agreement restricts the Companys rights or those of any
of its affiliates to terminate your employment or other relationship at any
time, for any or no reason. The termination of employment or other
relationship, whether by the Company or any of its affiliates or otherwise, and regardless of the
reason for such termination, has the consequences provided for under the Plan and any applicable
employment or severance agreement or plan.Not a Stockholder
    
    You understand and agree that the Company will not consider you a stockholder for any purpose with respect to any
of the Option Shares until you have exercised the Option, paid for the shares, and received evidence of ownership.No Effect on 
Running Business
    
    You understand and agree that the existence of an Option will not affect
in any way the right or power of the Company or its stockholders to make or authorize any adjustments,
recapitalizations, reorganizations, or other changes in the Companys capital structure or its business, or any merger or
consolidation of the Company, or any issuance of bonds, debentures, preferred or other stock, with preference ahead of or
convertible into, or otherwise affecting the Companys common stock or the rights thereof, or the dissolution or liquidation of the
Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether or
not of a similar character to those described above.Governing Law
    
    The laws of the State of Delaware will govern all matters relating to this Agreement, without regard to
the principles of conflict of laws.Notices
    
    Any notice you give to the Company must follow the procedures then in effect. If no other procedures
apply, you must send your notice in writing by hand or by mail to the office of the Companys Secretary
(or to the Chair of the Board (or the Committee) if you are then serving as the sole Secretary). If
mailed, you should address it to the Companys Secretary (or the Chair of the Board (or the Committee)) at
the Companys then corporate headquarters, unless the Company directs optionees to send notices to another
corporate department or to a third party administrator or specifies another method of transmitting notice.
The Company and the Board (or the Committee) may address any notices to you using its standard electronic
communications methods or at your office or home address as reflected on the Companys personnel or other
business records. You and the Company may change the address for notice by like notice to the other, and
the Company can also change the address for notice by general announcements to optionees.Section 409A
    
    This Agreement is intended to comply with the requirements of Section 409A of the Internal Revenue
Code and must be construed consistently with that section. Neither the Company nor you shall have the
right to accelerate or defer the delivery of any such payments or benefits except to the extent
specifically permitted or required by Section 409A. In any event, the Company makes no representations or
warranty and shall have no liability to you or any other person, if any provisions of or payments under
this Agreement are determined to
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constitute deferred compensation subject to Code Section 409A but not to
satisfy the conditions of that section.Withholding
    
    Issuing the Option Shares is contingent on satisfaction of all obligations with respect to
required tax or other required withholdings (for example, in the U.S., Federal, state, and local taxes.)
The Company may take any action permitted under Section 11(e) of the Plan to satisfy such obligation,
including, if the Board (or the Committee) so determines, satisfying the tax obligations by (i) reducing
the number of Option Shares to be issued to you in connection with any exercise of the Option by that
number of Option Shares (valued at their Fair Market Value on the date of exercise) that would equal all
taxes required to be withheld (at their minimum withholding levels), (ii) accepting payment of the
withholdings from a broker in connection with a Cashless Exercise of the Option or directly from
you, or (iii) taking any other action under Section 11(e). If a fractional
share remains after deduction for required withholding, the Company will pay
you the value of the fraction in cash.Plan Governs
    
    Wherever a conflict may arise between the terms of this Agreement and the terms of
the Plan, the terms of the Plan will control. The Board (or the Committee) may adjust the
number of Option Shares and the Exercise Price and other terms of the Option from time to time
as the Plan provides.
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OPTIONEE ACKNOWLEDGMENT
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Biodel Inc.  2010 Stock Incentive Plan  Nonstatutory Stock Option Agreement for Employees  and Directors  Schedule I
 Optionee Information
 Name:Signature:
 Option Information
 Option Shares:
    
    
    
    Exercise Price per Share:Date of Grant:
    
    
    
    Term Expiration Date:
 Option Exercisability Provisions
 Option Expiration Rules
    
    If the Option is not fully exercisable when you cease to be employed or a
member of the Board of Directors (even if you continue service as an independent contractor),
any unexercisable portion will then expire immediately. If any portion of the Option is
exercisable, that portion will remain exercisable until the first to occur of the following,
each as defined further in the Plan if not otherwise defined below, and then immediately
expire:    The 90th day after your employment or
other individual-service providing relationship ends due
to your retirement (unless another provision applies)   The 90th day after your employment or
other individual-service providing relationship ends due
to any reason other than for your death or Disability
(unless another provision applies)   For Disability, the 12 month anniversary of your
termination of employment for Disability   The first anniversary of your death   The Term Expiration Date
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By signing this Schedule I, you agree to the acknowledgement on the last page of your Stock Option
Agreement.
 
   No one may sell, transfer, or distribute the Option or the securities that may be purchased
upon exercising the Option without an effective registration statement relating thereto or an
opinion of counsel satisfactory to Biodel Inc. or other information and representations
satisfactory to it that such registration is not required.
 
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