Document:

QuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 10.8.2  

 
  DISPLAYTECH, INC.    
    
    AMENDMENT NO. 2 TO THE
  SHAREHOLDERS' RIGHTS AGREEMENT    
    

        This Amendment No. 2 (the "Amendment") is made as of February 11, 2003, by and among Displaytech, Inc., a Colorado corporation (the
"Company"), and the persons and entities listed as Investors on the signature pages hereto (the "Investors"), all of whom are parties to the Amended and Restated Shareholders' Rights Agreement, dated
as of July 30, 2001, as amended by Amendment No. 1, dated as of April 9, 2002 (as so amended, the "Agreement"). 

        WHEREAS,
in connection with the Company's issuance of shares of Series E-1 Senior Preferred Stock and Series E-2 Senior Preferred Stock, the Company
and the Investors have determined that it is in their best interest, and in furtherance of their purposes, to amend the Agreement to modify certain rights and obligations with respect to corporate
governance. 

        NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each of the Company and the Investors, severally and not jointly, hereby
agrees as follows: 

        1.     Section 2.4
of the Agreement shall be deleted in its entirety and replaced by the following: 

        Stock Certificate Legend.    Each certificate representing shares of Common Stock now or hereafter owned by the Investors shall
be endorsed with the following legend until termination of the terms of this Section 2: 

"THE
RIGHT TO VOTE THE SECURITIES REPRESENTED BY THIS CERTIFICATE AND THE SALE OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE
SUBJECT TO THE TERMS AND CONDITIONS OF THE AMENDED AND RESTATED SHAREHOLDERS' RIGHTS AGREEMENT, DATED AS OF JULY 30, 2001 (AS AMENDED), BY AND AMONG THE HOLDER OF THESE SHARES, CERTAIN OTHER HOLDERS
OF THE CAPITAL STOCK OF THE CORPORATION, AND THE CORPORATION. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE CORPORATION." 

        2.     Section 4.2(a)
of the Agreement shall be deleted in its entirety and replaced by the following: 

        (a)   The
Investors shall at all times vote their shares of Voting Stock so that the Bylaws of the Company provide that the Board of Directors shall consist of not less than
three (3) and no more than fourteen (14) directors, the exact number of which shall be fixed from time to time within such limits by resolution of the Board of Directors. The Investors
agree to vote their shares of Voting Stock for the election to the Company's Board of Directors of two (2) designees of the Kingdon Investors, four (4) designees of the Century
Investors, two (2) designees of DBCP, four (4) designees of the Fleming Investors, Richard Barton and Bruce Spenner. The obligations set forth herein in respect to the election of
directors apply each time the shareholders of the Company meet, or act by written consent in lieu of meeting, for the purpose of electing directors. In addition, the Investors agree to approve and
continue to support a resolution adopted by the Board of Directors authorizing the formation of (i) a Compensation Committee, consisting of one director designated by each of the Kingdon
Investors, the Century Investors, DBCP and the Fleming Investors and (ii) an Audit Committee, consisting of one director designated by each of the Kingdon Investors, the Century Investors, DBCP
and the Fleming Investors. The Company agrees that at all times (i) prior to a Qualified Public Offering and (ii) during which the Investors are required to 

 

vote
their shares of Voting Stock to elect the Investors' designees to the Board of Directors of the Company in accordance with the terms of this Agreement, the Company shall cause (i) the
appropriate Investor designees so elected to be appointed to such Compensation Committee, which committee shall have, among other powers, exclusive authority to grant stock options/restricted stock to
employees, officers and directors of, and consultants to, the Company at all times after the date of this Agreement and (ii) the appropriate Investor designees so elected to be appointed to the
Audit Committee. The Company and the Investors agree to cause the resolutions described herein to remain in effect, without modification, unless Investors holding a majority of the shares of Common
Stock held by Investors agree otherwise. 

        3.     Section 4.2
of the Agreement shall be amended to add subsection (c) as follows: 

        (c)   Notwithstanding
anything in this Agreement to the contrary, the provisions of this Section 4.2 shall terminate on June 30, 2003. 

        4.     Except
as amended herein, the Agreement shall remain in full force and effect. 

        5.     This
Amendment shall be governed in all respects by the laws of the State of Colorado as such laws are applied to agreements between Colorado residents entered into and
to be performed entirely within Colorado. 

        6.     This
Amendment may be executed in any number of counterparts (and by facsimile), each of which shall be an original, but all of which together shall constitute one
instrument. 

[remainder
of page intentionally left blank] 

2

 

        IN
WITNESS WHEREOF, the parties have caused this Amendment to be duly executed and delivered as of the day and year first written above. 

	 	 	COMPANY:
	
 	
 	

DISPLAYTECH, INC.
	

 	
 	

By:	

/s/  RICHARD BARTON      

	 	 	Name:	Richard Barton
	 	 	Title:	Chief Executive Officer
	 	 	Address:	2602 Clover Basin Drive

Longmont, CO 80503
	

 	
 	

 	

 
	 	 	INVESTORS:
	
 	
 	

KINGDON ASSOCIATES, L.P.
	

 	
 	

By:	

Kingdon Capital Management Corp.,

  its General Partner
	

 	
 	

 	

 
	 	 	By:	/s/  KEN HAHN      

	 	 	Name:	Ken Hahn
	 	 	Title:	Portfolio Manager
	

 	
 	

 	

 
	 	 	KINGDON PARTNERS, L.P.
	

 	
 	

By:	

Kingdon Capital Management Corp.,

  its General Partner
	

 	
 	

 	

 
	 	 	By:	/s/  KEN HAHN      

	 	 	Name:	Ken Hahn
	 	 	Title:	Portfolio Manager

3

 

	 	 	M. KINGDON OFFSHORE NV
	

 	
 	

By:	

Kingdon Capital Management Corp.,

  its General Partner
	

 	
 	

 	

 
	 	 	By:	/s/  KEN HAHN      

	 	 	Name:	Ken Hahn
	 	 	Title:	Portfolio Manager
	

 	
 	

 	

 
	 	 	/s/  J. KERMIT BIRCHFIELD, JR.      
 J. Kermit Birchfield, Jr.
	

 	
 	

 	

 
	 	 	CENTURY AMERICA LLC

(formerly known as Century Partners, L.P.-Dtech, L.P.)
	

 	
 	

 	

 
	 	 	By:	/s/  RICHARD HOKIN      
 Richard Hokin, its managing member
	

 	
 	

 	

 
	 	 	JKB- DISPLAYTECH, LLC
	

 	
 	

 	

 
	 	 	By:	/s/  J. KERMIT BIRCHFIELD, JR.      
 J. Kermit Birchfield, Jr.
	

 	
 	

 	

 
	 	 	INTERWEST CAPITAL, INC.
	

 	
 	

 	

 
	 	 	By:	/s/  WILLIAM C. GLYNN      

	 	 	Name:	William C. Glynn
	 	 	Title:	President

4

 

	 	 	FLEMING US DISCOVERY FUND III, L.P.
	

 	
 	

By:	

FLEMING US DISCOVERY PARTNERS, L.P.,

its general partner
	

 	
 	

By:	

FLEMING US DISCOVERY, LLC,

its general partner
	

 	
 	

 	

 
	 	 	By:	/s/  ROBERT L. BURR      
 Robert L. Burr, member
	

 	
 	

 	

 
	 	 	FLEMING US DISCOVERY OFFSHORE FUND III, L.P.
	

 	
 	

By:	

FLEMING US DISCOVERY PARTNERS, L.P.,

its general partner
	

 	
 	

By:	

FLEMING US DISCOVERY, LLC,

its general partner
	

 	
 	

 	

 
	 	 	By:	/s/  ROBERT L. BURR      
 Robert L. Burr, member
	

 	
 	

 	

 
	 	 	D.A. DAVIDSON & CO. DISPLAYTECH

  INVESTMENT PARTNERSHIP
	

 	
 	

 	

 
	 	 	By:	/s/  MARK J. SEMMENS      
 Mark J. Semmens, General Partner
	

 	
 	

 	

 
	 	 	DAVIDSON COMPANIES

(formerly known as DADCO Incorporated)
	

 	
 	

 	

 
	 	 	By:	/s/  ILLEGIBLE      
 Authorized Officer

5

 

	 	 	DB CAPITAL PARTNERS SBIC, L.P.
	

 	
 	

 	

 
	 	 	By:	/s/  ROBERT SHARP      
 Robert Sharp
	

 	
 	

 	

 
	 	 	HEWLETT-PACKARD COMPANY
	

 	
 	

 	

 
	 	 	By:	/s/  CHARLES N. CHARMAS      
 Charles N. Charmas
	

 	
 	

 	

 
	 	 	NISSHO ELECTRONICS CORPORATION
	

 	
 	

 	

 
	 	 	By:	    

	

 	
 	

 	

 
	 	 	ANALYSIS GROUP FUND I, L.P.
	

 	
 	

 	

 
	 	 	By:	/s/  NORMAN W. GORIN      
 Norman W. Gorin

Chief Financial Officer

6

QuickLinks

DISPLAYTECH, INC. AMENDMENT NO. 2 TO THE SHAREHOLDERS' RIGHTS AGREEMENTQuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 10.8.3  

 
  AMENDMENT NO. 3
  TO
  AMENDED AND RESTATED SHAREHOLDERS' RIGHTS AGREEMENT    
    

        This Amendment No. 3 to Amended and Restated Shareholders' Rights Agreement (this
"Amendment") is entered into effective as of the 25th day of May, 2004, by and among  Displaytech, Inc., a Delaware corporation (the "Company"), and the holders of capital stock of
the Company identified as "Investors" on the signature pages hereto (each, an "Investor" and together, the
"Investors"). 

RECITALS  

        Whereas, pursuant to Sections 2.7, 3.14 and 5.1 of that certain Amended and Restated Shareholders' Rights
Agreement by and among the Company and certain of its shareholders dated July 30, 2001, as amended (the "Shareholders Agreement"), the
Shareholders Agreement may only be amended with the written consent of the Company, the holders of at least a majority of the then-outstanding Common Stock (as defined in the Shareholders
Agreement) and/or the holders of at least a majority of the then-outstanding Registrable Securities (as defined in the Shareholders Agreement); 

        Whereas, effective as of May 11, 2004, Century Partners, L.P.-DTECH, L.P., JKB-Displaytech, LLC, InterWest
Capital, Inc. and certain of their affiliates contributed all of their Common Stock to DTech Investments, LLC, an affiliate of such stockholders
("DTech"), and DTech became a party to the Shareholders Agreement by execution of a Joinder Agreement; 

        Whereas, the Company intends to file its first registration statement for a public offering of securities of the Company on
Form S-1 under the Securities Act of 1933, as amended (the "IPO"); 

        Whereas, the Investors hold at least a majority of the Common Stock and the Registrable Securities; and 

        Whereas, as a condition to participating in the IPO, the underwriters have requested certain amendments to the registration rights set
forth in Section 3 of the Shareholders Agreement and the parties desire to amend Section 3 and certain other provisions of the Shareholders Agreement as set forth below. 

        Now, Therefore, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree hereto as follows: 

        1.     Definitions. The definition of "Qualified Public
Offering" set forth in Section 1 of the Shareholders Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof: 

"Qualified Public Offering" means a firm commitment underwritten public offering pursuant to an effective registration statement under the Securities
Act covering the offer and sale of shares of Common Stock in which (i) gross proceeds to the Company, before underwriting discounts, commissions and other expenses, are at least $20,000,000,
and (ii) the price per share of Common Stock sold in such offering reflects a pre-money valuation of the Company at the time of the consummation of such sale of at least
$75,000,000. 

        2.     Company Registration. The following sentence shall be inserted at the end
of Section 3.2 of the Shareholders Agreement: "No Holder shall have any registration rights under this Section 3.2 for the Company's first firm commitment underwritten public offering of
its Common Stock registered under the Securities Act." 

        4.     Reaffirmation. Except as otherwise specifically set forth herein, the
terms and provisions of the Shareholders Agreement, as amended hereby, are ratified, confirmed and approved. 

 

        5.     Defined Terms. Capitalized terms not defined herein shall have the meaning
assigned to them in the Shareholders Agreement. 

        6.     Governing Law. This Amendment shall be governed by and construed under the
laws of the State of Colorado in all respects as such laws are applied to agreements among Colorado residents entered into and to be performed entirely within Colorado. 

        7.     Counterparts. This Amendment may be executed in any number of
counterparts, or by facsimile signature, all of which shall constitute one and the same instrument. 

[Signature page to follow.] 

2

 

        IN WITNESS WHEREOF, this Amendment has been executed as of the day and year first above written. 

	
COMPANY:	
 	

 
	
DISPLAYTECH, INC.	
 	

 
	

By:	
 	

/s/  RICHARD D. BARTON      
	
 	

 
	

Name:	
 	

Richard D. Barton
	
 	

 
	

Title:	
 	

CEO
	
 	

 
	
INVESTORS:	
 	

 
	
DTECH INVESTMENTS LLC	
 	

 
	

By:	
 	

/s/  WILLIAM C. GLYNN      
	
 	

 
	

Name:	
 	

William C. Glynn
	
 	

 
	

Title:	
 	

Manager
	
 	

 
	
FLEMING US DISCOVERY FUND III, L.P.	
 	

 
	

By: Fleming US Discovery Partners, L.P., its General Partner	
 	

 
	

By: Fleming US Discovery, LLC, its General Partner	
 	

 
	

By:	
 	

/s/  ROBERT L. BURR      
	
 	

 
	

Name:	
 	

Robert L. Burr
	
 	

 
	 	 	 	 	 

3

 

	

Title:	
 	

Member
	
 	

 
	
FLEMING US DISCOVERY OFFSHORE FUND III, L.P.	
 	

 
	

By: Fleming US Discovery Partners, L.P., its General Partner	
 	

 
	

By: Fleming US Discovery, LLC, its General Partner	
 	

 
	

By:	
 	

/s/  ROBERT L. BURR      
	
 	

 
	

Name:	
 	

Robert L. Burr
	
 	

 
	

Title:	
 	

Member
	
 	

 

4

QuickLinks

AMENDMENT NO. 3 TO AMENDED AND RESTATED SHAREHOLDERS' RIGHTS AGREEMENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}]]