Document:

Exhibit 10.3
    

    
      <Date>
    

    
      <Name of Grantee>
c/o CopyTele, Inc.
900 Walt Whitman Road
Melville,
      New York  11747
    

    
                RE:       Grant of Non-Qualified Option To Director Participant
    

    
      Dear <Name of Grantee>:
    

    
                On July 15, 2010, the Board of Directors of CopyTele, Inc.
      (the "Company") adopted the CopyTele, Inc. 2010 Share Incentive Plan
      (the "Plan"). The Plan provides for the automatic grant of non-qualified
      stock options to non-employee directors ("Director Participant") of the
      Company. Upon your election to the Board of Directors you were granted
      an Option (as defined below) to purchase _______ shares of Common Stock,
      par value $.01 per share ("Common Stock"), of the Company on the date of
      the Annual Meeting of Shareholders of the Company at which you were
      elected. A copy of the Plan is annexed hereto and shall be deemed a part
      hereof as if fully set forth herein. Unless the context otherwise
      requires, all terms defined in the Plan shall have the same meaning when
      used herein.
    

    
                 1.       The Company hereby grants to you, as a matter of
      separate inducement and not in lieu of any salary or other compensation
      for your services, the right and option (the "Option") to purchase, in
      accordance with the terms and conditions set forth in the Plan, but
      subject to the limitations set forth herein and in the Plan, an
      aggregate of ______ shares of Common Stock of the Company at a price of
      $_____ per share, such option price being, in the judgment of the Stock
      Option Committee, not less than one hundred percent (100%) of the fair
      market value of such share at the date hereof.
    

    
                Notwithstanding, the foregoing, it is specifically understood
      by you that no warranty is made to you with respect to the value of such
      shares. The Non-Qualified Option is not intended to qualify as an
      "incentive stock option" within the meaning of Section 422 of the
      Internal Revenue Code of 1986, as amended. The Non-Qualified Option
      shall be referred to herein as the "Option".
    

    
                 2.       Subject to the provisions and limitations of section
      7 of the Plan, the Option may be exercised by you, on a cumulative
      basis, during a period of four (4) years commencing one (1) year from
      the date hereof and terminating at the close of business on ________.
    

    
                 3.        In no event shall you exercise the Option for a
      fraction of a share or for less than one hundred (100) shares (unless
      the number purchased is the total balance for which the Option is then
      exercisable).
    

    

    

    
      
        

        

      

      
        
          1
        

        
          

        

      

      
        

        

      

    

    

    

    
                 4.       The unexercised portion of the Option granted herein
      will automatically and without notice terminate and become null and void
      upon the expiration of five (5) years from the date of the grant of the
      Option. In the event your service as director of the Company is
      terminated prior to the expiration of five (5) years from the date
      hereof, this Option shall, to the extent not theretofore exercised,
      terminate and become null and void, except to the extent described
      below; provided, however, that none of the events described below shall
      extend the period of exercisability of the Option beyond five (5) years
      from the date hereof:
    

    
                (a)       if you die, the Option shall, to the extent not
      theretofore exercised, remain exercisable for five (5) years after your
      death, by your legatee, distributee, guardian or legal or personal
      representative.
    

    
                (b)       if your directorship is terminated by reason of your
      disability, voluntary retirement or failure of the Company to retain or
      nominate you for re-election, provided you are otherwise eligible,
      unless due to any act of fraud, embezzlement or the like, while you are
      entitled to exercise the Option, the Option shall, to the extent not
      theretofore exercised, remain exercisable for five (5) years after the
      date of such termination of service in the case of termination by reason
      of voluntary retirement or failure of the Company to retain or nominate
      you for re-election and five (5) years after the date of termination of
      service in the case of termination by reason of disability; and
    

    
                (c)       if you die during the five (5) year period specified
      in clause (b) above and at a time when you were entitled to exercise the
      Option, your legal representative, or such person who acquired the
      Option by reason of your death may, not later than five (5) years from
      your date of death, exercise the Option, to the extent not theretofore
      exercised, in respect of any or all of such number of shares subject to
      the Option.
    

    
                 5.       The Option is transferable by will or the laws of
      descent and distribution. The Option may be transferred by you solely to
      your spouse, siblings, parents, children and grandchildren or trusts for
      the benefit of such persons or partnerships, corporations, limited
      liabilities companies or other entities owned solely by such persons,
      including trusts for such persons, subject to any restriction included
      in the award of the Option. The Option may not be pledged or
      hypothecated in any way (whether by operation of law or otherwise) and
      shall not be subject to execution, attachment or similar proceeding. Any
      attempted assignment, pledge, hypothecation or other disposition of the
      Option contrary to the provisions hereof, and the levy of any attachment
      or similar proceeding upon the Option, shall be null and void and
      without effect.
    

    
                 6.       Any exercise of the Option shall be in writing
      addressed to the Corporate Secretary of the Company at the principal
      place of business of the Company, specifying the number of shares to be
      purchased. The purchase price for the shares being purchased shall be
      delivered to the Corporate Secretary at the time such writing is so
      delivered.
    

    

    

    
      
        

        

      

      
        
          2
        

        
          

        

      

      
        

        

      

    

    

    

    
                 7.       If the Company, in its sole discretion, shall
      determine that it is necessary, to comply with applicable securities
      laws, the certificate or certificates representing the shares purchased
      pursuant to the exercise of the Option shall bear an appropriate legend
      in form and substance, as determined by the Company, giving notice of
      applicable restrictions on transfer under or in respect of such laws.  
    

    
                 8.       You hereby covenant and agree with the Company that
      if, at the time of exercise of the Option, there does not exist a
      Registration Statement on an appropriate form under the Securities Act
      of 1933, as amended (the "Act"), which Registration Statement shall have
      become effective and shall include a prospectus which is current with
      respect to the shares subject to the Option, (i) that you are purchasing
      the shares for your own account and not with a view to the resale or
      distribution thereof, (ii) that any subsequent offer for sale or sale of
      any such shares shall be made either pursuant to (x) a Registration
      Statement on an appropriate form under the Act, which Registration
      Statement shall have become effective and shall be current with respect
      to the shares being offered and sold, or (y) a specific exemption from
      the registration requirements of the Act, but in claiming such
      exemption, you shall, prior to any offer for sale or sale of such
      shares, obtain a favorable written opinion from counsel for or approved
      by the Company as to the applicability of such exemption and (iii) that
      you agree that the certificates evidencing such shares shall bear a
      legend to the effect of the foregoing.
    

    
                This agreement is subject to all terms, conditions,
      limitations and restrictions contained in the Plan, which shall be
      controlling in the event of any conflicting or inconsistent provisions.
    

    
                By your acceptance hereof, you agree to reimburse the Company
      for any taxes required by any government to be withheld or otherwise
      deducted and paid by the Company in respect of the issuance or
      disposition of the shares subject to the Option. In lieu thereof, the
      Company shall have the right to withhold the amount of such taxes from
      any other sums due or to become due from the Company to you.  The
      Company may, in its discretion, hold the stock certificate to which you
      are entitled upon the exercise of the Option as security for the payment
      of such withholding tax liability, until cash sufficient to pay that
      liability has been accumulated. In addition, at any time that the
      Company becomes subject to a withholding obligation under applicable law
      with respect to the exercise of the Option (the "Tax Date") you may
      elect to satisfy, in whole or in part, your related personal tax
      liabilities (an "Election") by (a) directing the Company to withhold
      from shares issuable in the related exercise either a specified number
      of shares or shares having a specified value (in each case not in excess
      of the related personal tax liabilities), (b) tendering shares
      previously issued pursuant to the exercise of the Option or other shares
      of the Company's common stock owned by you, or (c) combining any or all
      of the foregoing options in any fashion. An Election shall be
      irrevocable. The withheld shares and other shares tendered in payment
      shall be valued at their fair market value on the Tax Date. The Company
      may disapprove of any Election, suspend or terminate the right to make
      Elections, provide that the right to make Elections shall not apply to
      particular shares or exercises, or impose additional conditions or
      restrictions on the right to make an Election as it shall deem
      appropriate. In addition, you authorize the Company to effect any such
      withholding upon exercise of the Option by retention of shares issuable
      upon such exercise having a fair market value at the date of exercise
      which is equal to the amount to be withheld; provided, however,
      that the Company is not authorized to effect such withholding without
      your prior written consent if such withholding would subject you to
      liability under Section 16(b) of the Securities Exchange Act of 1934.
    

    

    

    
      
        

        

      

      
        
          3
        

        
          

        

      

      
        

        

      

    

    

    

    
                Please indicate your acceptance of all the terms and
      conditions of the Option and the Plan by signing and returning a copy of
      this letter.
    

    

    

    
    	

        	
          Very truly yours,
        
	

        	
          COPYTELE, INC.
        
	
           
        
	

        	
          By: ___________________
        
	

        	
           
        
	

        	
           
        
	
          ACCEPTED:
        	

        
	
           
        
	
          _________________________
        	

        
	
          Signature of Director
        	

        
	
           
        
	
          _________________________
        	

        
	
          Name of Director
        	

        
	
           
        
	
           
        
	
          Date: __________
        	

        

    

    

    

    
      4Exhibit 10.4
    

    

    

    
      COPYTELE, INC.
    

    
      2010 SHARE INCENTIVE PLAN
    

    
      STOCK AWARD AGREEMENT
    

    
      

      

    

    
      THIS AGREEMENT, dated ________ is made among CopyTele, Inc., a Delaware
      corporation (the “Company”) and <Name of Participant> (the
      “Participant”).

    

    
      WITNESSETH:
    

    
      1.        GRANT OF AWARD.  Pursuant
      to the provisions of the CopyTele, Inc. 2010 Share Incentive Plan, as
      the same may be amended, modified and supplemented (the “Plan”), the
      Company hereby grants to the Participant as of the day and year first
      above written, subject to the terms and conditions of the Plan and
      subject further to the terms and conditions herein set forth, an award
      of _______ shares of common stock, par value $.01 per share, of the
      Company (the “Stock”).
    

    
      2.        WITHHOLDING.  The
      Participant acknowledges that the Company will have certain withholding
      obligations upon the issuance or delivery of any stock certificates
      representing shares of Stock awarded pursuant to this Agreement. In the
      event the total amount otherwise payable by the Company to the
      Participant is insufficient to provide the Company with all taxes which
      it is required to so withhold, the Participant shall pay to the Company
      such amounts as the Company is required to withhold in excess of such
      total amount otherwise payable to the Participant, as and when required
      by law.
    

    
      3.        ADDITIONAL TERMS.   
    

    
      (a)       Construction.
            The Plan and this Agreement will be construed by and administered
      under the supervision of the Committee (as defined in the Plan), and all
      determinations of the Committee will be final and binding on the
      Participant.
    

    
      (b)       Dilution.  Nothing
      in the Plan or this Agreement will restrict or limit in any way the
      right of the Board of Directors of the Company to issue or sell stock of
      the Company (or securities convertible into stock of the Company) on
      such terms and conditions as it deems to be in the best interests of the
      Company, including, without limitation, stock and securities issued or
      sold in connection with mergers and acquisitions, stock issued or sold
      in connection with any stock option or similar plan, and stock issued or
      contributed to any qualified stock bonus or employee stock ownership
      plan.
    

    
      (c)       Bound by Plan.  The
      Participant hereby agrees to be bound by all of the terms and provisions
      of the Plan, a copy of which is available to the Participant upon
      request.
    

    

    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    

    

    
      (d)       Notices.  Any notice
      hereunder to the Company or the Committee shall be addressed to
      CopyTele, Inc., 900 Walt Whitman Road, Melville, New York, 11747,
      Attention: Chief Financial Officer.
    

    
      (e)       Counterparts.  This
      Agreement may be executed in counterparts each of which taken together
      shall constitute one and the same instrument.
    

    
      (f)       Governing Law.  This
      Agreement, which constitutes the entire agreement of the parties with
      respect to the Stock, shall be governed by, and construed and enforced
      in accordance with, the laws of the State of New York without regard to
      principles of conflicts of law.
    

    
      IN WITNESS WHEREOF, the Company has caused this Agreement to be executed
      by a duly authorized officer of the Company and the Participant has
      executed this Agreement, both as of the day and year first above written.
    

    

    

    
    	
           
        	
          COPYTELE, INC.
        
	
           
        
	
           
        
	
           
        
	

        	
          By: ________________________________
        
	
           
        
	
           
        
	
           
        
	
           
        
	
           
        
	
           
        
	

        	
          ACCEPTED:
        
	
           
        
	

        	
          __________________________________
        
	

        	
          Signature of Participant
        
	
           
        
	

        	
          __________________________________
        
	

        	
          Name of Participant: Please Print

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}]]