EXHIBIT 4.3

                Option for the Purchase of Shares of Common Stock

                                                                   50,000 shares

                  OPTION dated this 27th day of October, 1999 from MIKRON
INSTRUMENT COMPANY, INC., a New Jersey corporation (hereinafter the "Company"),
to John Chynoweth (the "Grantee").

                  1. Grant of Option. The Company hereby grants to the Grantee
an option ("this Option") to purchase up to an aggregate of 50,000 shares of its
$.003 par value common stock (the "Common Stock"), such number of shares being
subject to adjustment as provided in paragraph 5 hereof, on the terms and
subject to the conditions hereinafter set forth. The Grantee shall not have any
of the rights of a shareholder with respect to the shares covered by this Option
except to the extent that one or more certificates for such shares shall be
delivered to him upon the due exercise of this Option.

                  2. Purchase Price. The purchase price of the shares of Common
Stock to be issued upon exercise of this Option is $1.00 per share.

                  3. Expiration Date; Vesting of Option; Restrictions on
Exercise. This Option shall expire at 5:00 P.M. New York time on October 26,
2007 (the "Expiration Date"), and any portion of this Option remaining
unexercised after such time on the Expiration Date thereupon shall be canceled
without further notice or action.

                  The Grantee shall be entitled to purchase an aggregate of
50,000 shares of Common Stock (the "Option Shares") at an exercise price of
$1.00 per share, such purchase entitlements to vest as follows: Grantee shall
have the right to purchase up to 10,000 shares of Common Stock at any time
during the period commencing on October 27, 2000 and continuing through October
26, 2003. Grantee shall have the right to purchase up to 10,000 shares of Common
Stock at any time during the period commencing on October 27, 2001 and
continuing through October 26, 2004. Grantee shall have the right to purchase up
to 10,000 shares of Common Stock at any time during the period commencing on
October 27, 2002 and continuing through October 26, 2005. Grantee shall have the
right to purchase up to 10,000 shares of Common Stock at any time during the
period commencing on October 27, 2003 and continuing through October 26, 2006.
Grantee shall have the right to purchase up to 10,000 shares of Common Stock at
any time during the period commencing on October 27, 2004 and continuing through
the Expiration Date.

                  4. Non-transferability. This Option, and the rights and
privileges conferred by this Option, are not transferable by the Grantee
otherwise than by will or under the laws of descent and distribution. During the
Grantee's lifetime, no one other than the Grantee shall have the right or
entitlement to exercise this Option. This Option may not be assigned (by
contract or by operation of law), transferred (except as provided above),
pledged, hypothecated or otherwise encumbered. Any attempted assignment,
transfer, pledge, hypothecation or other disposition of this Option contrary to
the provisions hereof, and the levy of any execution, attachment or similar
process upon this Option, shall render this Option null and void.


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                  5. Adjustments upon Changes in Capitalization. The maximum
number of shares that may be issued pursuant to the exercise of this Option
shall be proportionately adjusted as the Board of Directors of the Company shall
determine to be equitably required in the event that (a) the Company effects one
or more stock dividends, stock split-ups, subdivisions or consolidations of
shares or (b) there occurs any other event which, in the judgment of the Board
necessitates such action. Any determination made under this Section 5 by the
Board shall be final and conclusive.

                  6. Method of Exercising Option.

                           (a) This Option may be exercised in whole at any time
or in part from time to time by executing and delivering an Option Exercise
Notice in the form attached hereto as Exhibit A. Such notice shall be
accompanied by payment of the full purchase price of such shares by certified or
bank check payable to the order of the Company.

                           (b) If this Option shall be exercised in part only,
the Company shall, upon surrender of this Option for cancellation, execute and
deliver a new Option evidencing the rights of the holder hereof to purchase the
balance of the shares of Common Stock purchasable hereunder. All shares
purchased hereunder shall be deemed to be fully paid and non-assessable.

                  7. Rights as a Shareholder. The Grantee shall have no rights
as a shareholder with respect to any shares which may be purchased by exercise
of this option unless and until a certificate representing such shares is duly
issued and delivered to the Grantee. No adjustment shall be made for dividends
or other rights for which the record date is prior to the date such stock
certificate is issued.

                  8. Conditions Upon Issuance of Option Shares.

                           (a) Unregistered Shares. Neither this Option nor the
Option Shares have been registered pursuant to a registration statement (a
"Registration Statement") under the Securities Act of 1933, as amended (the
"Securities Act"). Until such time as a Registration Statement pertaining to the
Option Shares shall be declared effective by the Securities and Exchange
Commission (the "Commission"), the Company shall not be required to issue any
certificate for shares of Common Stock purchased upon the exercise of this
Option unless, in connection with such exercise:

                                    (i) The Grantee makes and delivers the
following representations to the Company in writing:

                                            a) The Grantee is purchasing the
Option Shares solely for its own account.


<PAGE>

              1) The Grantee has received and read, or the person who exercises
full investment discretion to act in the Grantee's behalf, has received and read
the Company's Annual Report on Form 10-K for its most recent fiscal year, the
Company's quarterly reports on Form 10-Q for all periods between the end of the
Company's most recently completed fiscal year and the date of exercise of the
Option, the Company's most recent annual report to shareholders, the Company's
most recent proxy statement delivered to shareholders in connection with the
election of directors, and all such other information and documentation as the
Grantee, or the person who exercises full investment discretion to act in the
Grantee's behalf, has requested from the Company. The Grantee has relied on
nothing other than said information and documentation in deciding whether to
exercise this Option. The Grantee acknowledges that he has been given, or the
person who exercises full investment discretion to act on the Grantee's behalf
has been given, the opportunity to ask questions and receive satisfactory
answers concerning the purchase of Option Shares upon exercise of this Option,
the operations and financial condition of the Company, and the accuracy of the
information provided by the Company to the Grantee or the person who exercises
full investment discretion to act in the Grantee's behalf.

              2) The Grantee has no intention of distributing or reselling the
Option Shares or any part thereof, or interest therein, in any transaction which
would be in violation of the securities laws of the United States of America or
any state securities laws, without prejudice, however, to the Grantee's right at
all times to sell or otherwise dispose of all or any part of the Option Shares
pursuant to the above-mentioned registration thereof under the Securities Act
and, if applicable, qualification under such state securities laws or under an
exemption from such registration available under the Securities Act.

              3) If the Grantee desires to sell or otherwise dispose of all or
any part of the Option Shares (other than pursuant to an effective Registration
Statement under the Securities Act or a sale or other disposition made pursuant
to the Commission's Rule 144), if requested by the Company, the Grantee will
deliver to the Company, an opinion of counsel, reasonably satisfactory in form
and substance to the Company and its counsel, that such exemption is available.

         (ii) Upon original issuance thereof, and until such time as the same is
no longer required under the applicable requirements of the Securities Act, the
certificates evidencing the Grantee's ownership of the Option Shares (and all
certificates for securities issued in exchange therefor or substitution thereof)
shall bear the following legend:

                  "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
         REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR QUALIFIED
         UNDER ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE SOLD OR
         TRANSFERRED IN THE ABSENCE OF REGISTRATION OR AN EXEMPTION THEREFROM
         UNDER SAID ACT OR SUCH LAWS."


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                  9. Withholding Taxes. The Company's obligation to deliver
shares upon the exercise of this Option shall be subject to the Grantee's
satisfaction of all applicable federal, state and local income and employment
tax withholding requirements, if applicable.

                  10. Pronouns. Whenever the context may require, any pronouns
used in this Agreement shall include the corresponding masculine, feminine or
neuter forms, and the singular form of nouns and pronouns shall include the
plural, and vice-versa.

                  11. General. This Option will not be treated as an "incentive
stock option" within the meaning the Internal Revenue Code.

                  12. Governing Law; Benefit. This Option shall be construed in
accordance with the laws of the State of New Jersey (without regard to its
conflict of laws provisions) and shall be binding upon the Company and inure to
the benefit of the Grantee and any successors of the business of the Company,
but neither this Option nor any rights hereunder shall be assignable by the
Grantee.

                  IN WITNESS WHEREOF, the Company has caused this Option to be
duly executed by its officers thereunto duly authorized, on the day and year
first above written.

                                MIKRON INSTRUMENT COMPANY, INC.


                                By:
                                   -------------------------------------
                                   Gerald D. Posner, President
Attest:

-----------------------------------
Steven D. Dreyer, Secretary



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                                    EXHIBIT A

                              OPTION EXERCISE FORM

                                                      ___________ _____, _______

Mikron Instrument Company, Inc.
16 Thornton Road
Oakland, New Jersey 07436
Attention: President

Gentlemen:

              The undersigned hereby irrevocably elects to exercise the within
Option to the extent of purchasing ____________ shares of Common Stock at $1.00
per share for an aggregate purchase price of $_________

              Enclosed is payment of the purchase price by certified or bank
check in the aggregate amount of the exercise price, payable to Mikron
Instrument Company, Inc.

         Please have the certificate representing said shares registered and
forwarded to me as follows:

         Mr. ________________________ Soc. Sec. #_______________________

         Street Address
                        --------------------------------------------------------

         City                     State            Zip Code
              -------------------       ----------          -----------------


                                              Very truly yours,


                                              ---------------------------------
                                              (Signature)


                                              ---------------------------------
                                              (Print Name)