Document:

Form of Outside Director Stock Option Agreement

 Exhibit 10.1 
 X-RITE, INCORPORATED 
 OUTSIDE DIRECTOR STOCK OPTION AGREEMENT

 UNDER THE X-RITE, INCORPORATED 
 2011 OMNIBUS LONG TERM INCENTIVE PLAN 
 This Stock Option Agreement
(“Agreement”) is made as of
                                         (the
“Grant Date”), between X-RITE, INCORPORATED, a Michigan corporation (the “Company”), and
                                        , an
Outside Director of the Company (the “Optionee”), pursuant to the X-Rite, Incorporated 2011 Omnibus Long Term Incentive Plan, as amended from time to time (the “Plan”), which Plan was approved by the Board and shareholders of the
Company on March 2, 2011 and May 18, 2011, respectively. Capitalized terms not otherwise defined herein shall be defined according to the Plan. 
 1. Grant of Option. Pursuant to the Plan, the Company hereby grants an option to purchase
                     shares of the Company’s common stock, par value $.10 per share (“Stock”), to Optionee subject to the terms and
conditions of this Agreement and the Plan. 
 2. Option Price. The Option Price of Stock covered by this option
shall be $             per share. Such Option Price represents the Market Value of a share of Stock on the Grant Date. 

3. Optionee’s Agreement. In consideration of the Optionee having been elected as a director of the Company, as
provided in the Plan, the Company has granted this option. Nothing contained herein, however, shall be interpreted so as to impose on the Company any obligation to retain the Optionee as an Outside Director for any period of time or any particular
rate of compensation. 
 4. Exercise of Option. This option shall be exercisable, in whole or in part, at any
time, and from time to time during the period of the option, but in any event no sooner than one (1) year following the Grant Date, in accordance with the terms of this Agreement as follows: 

(a) Period of Option. The option shall terminate upon the expiration of ten (10) years from the Grant Date, subject to
prior termination as provided in the Plan due to termination for Cause, Disability or death of the Optionee. 
 (b) Right
to Exercise. This option shall be exercisable during the lifetime of the Optionee only by the Optionee, or an Authorized Transferee, as defined in Section 5 below. After the Optionee’s death, the option shall be exercisable at any
time prior to expiration by: (i) the personal representative of the estate of the Optionee; (ii) any person or persons who shall have acquired the option directly from the Optionee by bequest or inheritance; (iii) any person
designated to exercise the option by means of a specific written designation executed by the Optionee and filed with the Company prior to the Optionee’s death in accordance with the terms of the Plan; or (iv) an Authorized Transferee as
defined in Section 5 below. 
 (c) Method of Exercise. This option shall be exercisable, in full or in part,
only by giving written notice to the chief financial officer of the Company, which shall: 
 (i) state the election to exercise
the option, the number of shares in respect to which it is being exercised, and the name of the person exercising the option, his or her address and tax identification number (and if the stock certificates are to be registered in more than one name,
the names, addresses, and tax identification numbers of such other persons); 
 (ii) contain such representations and
agreements as to the holder’s investment intent with respect to such shares of Stock as may be satisfactory to the Company’s counsel; and 
 (iii) be signed by the person or persons entitled to exercise the option and, if the option is being exercised by any person or persons other than Optionee, be accompanied by proof, satisfactory to
counsel for the Company, of the right of such person or persons to exercise the option. 

 Payment of the purchase price of any shares with respect to which the option is being exercised shall
accompany the written notice and such payment may be made, in whole or in part, in: (a) cash; (b) shares of Stock of the Company already owned by Optionee, valued at the Market Value as of the date of the notice of exercise; provided,
however, that there shall be no exercise at any time as to fewer than one hundred (100) shares, unless fewer than one hundred (100) shares remain to be purchased under the option being exercised; or (c) Stock Appreciation Rights, if
applicable; or by a combination of these methods. The certificate or certificates for shares of Stock as to which the option shall be exercised shall bear any restrictive endorsement the Company, in its sole discretion, deems necessary. In lieu of
the delivery of shares of Stock already owned by the Optionee, the Optionee may also provide the Company with a notarized statement attesting to the number of shares owned for at least six months, where upon verification by the Company, the Company
may issue to the Optionee only the number of incremental shares to which the Optionee is entitled upon the exercise of the option. In accordance with the terms of the Plan, payment may also be made by delivering a properly executed exercise notice
to the Company together with a copy of irrevocable instructions to a broker to deliver promptly to the Company the amount of sale or loan proceeds to pay the purchase price. 
 (d) Restrictions on Exercise. As a condition to an exercise of this option, the Company may require the person exercising this option to make such representation and warranties to the
Company as may be required by any applicable law or regulation. 
 5. Nontransferability of Option. This option
may not be transferred or assigned other than by will, or by the laws of descent and distribution, except that the option may be transferred, in whole or in part, to the Optionee’s spouse and/or the Optionee’s descendants, or to a trust
created primarily for the benefit of the Optionee, the Optionee’s spouse, and/or the Optionee’s descendants (“Authorized Transferee”); provided that the Optionee satisfied such conditions to the transfer as may be established
from time to time by the Board or as specified in the Plan. In no event shall any Authorized Transferee pay any consideration to the Optionee with respect to the transfer and Authorized Transferee shall succeed to all of the rights and benefits and
be subject to all of the obligations, conditions, and limitations applicable to the original Optionee, except that an Authorized Transferee shall not have any right to further transfer the option. All such rights, benefits, obligations, conditions,
and limitations shall be determined as if the original Optionee continued to hold the option whereby provisions of the Plan dealing with the death of an Optionee will continue to refer to the original Optionee regardless of whether the option has
been transferred to an Authorized Transferee. Any attempted sale, pledge, assignment, hypothecation, or other transfer of this option contrary to the terms hereof, and any execution, levy, attachment or similar process upon the option, whether by
operation of law or otherwise, shall be without any effect, except as otherwise provided in the Plan. 
 6. No Rights as
Shareholder. No Optionee shall have any rights as a shareholder with respect to any share of Stock subject to his or her option prior to the date of issuance of a certificate evidencing ownership of such Stock, and no adjustment will be made
for dividends or other rights for which the record date is prior to the date of the certificate, except as provided in Paragraph 8. 
 7. Withholding. Whenever the Company proposes or is required to issue or transfer shares of Stock under the Plan, the Company shall have the right to require the Optionee to remit to the
Company an amount sufficient to satisfy any federal, state, or local withholding tax liability prior to the delivery of any certificate or certificates for such shares. 
 8. Effect of Change in Stock Subject to the Plan. The shares of Stock subject to this option and the exercise price per share shall be proportionately adjusted for any increase or decrease
in the number of issued shares of Stock subsequent to the date hereof resulting from: (a) a subdivision or consolidation of shares or any other capital adjustment; (b) the payment of a stock dividend; or (c) other increase or decrease
in such shares effected without receipt of consideration by the Company. If the Company shall be the surviving corporation in any merger or consolidation, this option shall pertain, apply, and relate to the securities to which a holder of the number
of shares of Stock subject to the option would have been entitled after the merger or consolidation. Upon dissolution or liquidation of the Company, or as of the effective date for a merger or consolidation in which the Company is not the surviving
corporation, this option shall terminate. 
 9. Notices. Each notice relating to this Agreement shall be in
writing and delivered in person or by certified mail to the proper address. Each notice shall be deemed to have been given on the date it is received. Each notice to the Company and Optionee shall be sent to the address for such party as set forth
in 

 
the heading of this Agreement. Anyone to whom a notice may be given under this Agreement may designate a new address by written notice to that effect. 

10. Benefits of Agreement. This Agreement shall be binding upon and inure to the benefit of the Company and the Optionee
and their respective heirs, personal representatives, successors, and assigns. This Agreement and the Plan shall be the sole and exclusive sources of any and all rights which Optionee, his/her heirs, personal representatives, or assigns may have in
respect to any options or Stock granted or issued hereunder, whether to Optionee or to any other person. 
 11. Governing
Law. This Agreement shall be governed by and interpreted in accordance with the laws of the state of Michigan without regard to its conflicts of law principles. 
 IN WITNESS WHEREOF, the Company and Optionee have caused this Agreement to be executed as of the day, month, and year first above written. 

 

			
	X-RITE, INCORPORATED
		
	By	 	  

		
		 	OPTIONEE:Form of Outside Director Restricted Stock Agreement

 Exhibit 10.2 
 X-RITE, INCORPORATED 
 OUTSIDE DIRECTOR RESTRICTED STOCK AGREEMENT

 UNDER THE X-RITE, INCORPORATED 
 2011 OMNIBUS LONG TERM INCENTIVE PLAN 
  

			
	Grantee:	 	  

  

			
	Social Security Number:	 	  

  

							
	Grant Date:	 	  
	 	Number of Shares Awarded:	 	  

  

			
	Per Share Fair Market Value on Grant Date:	 	 $ 

 1. Terms. X-Rite, Incorporated (the “Company”) has awarded to Grantee a
Restricted Stock award, effective as of the date specified above (the “Grant Date”). This Agreement is subject to the terms and conditions of the X-Rite, Incorporated 2011 Omnibus Long Term Incentive Plan (the “Plan”), as amended
from time to time. All of the defined terms contained in this agreement (the “Agreement”) shall have the same meaning as is set forth in the Plan. If any inconsistency exists between the provisions of this Agreement and the Plan, the Plan
shall govern. 
 2. Restricted Stock Grant. Effective as of the Grant Date, the Company hereby grants the Grantee
the number of shares of the Company’s common stock, par value $0.10 per share, shown above (the “Shares Awarded”), subject to the restrictions set forth below. The Grantee hereby acknowledges and agrees to such restrictions and the
other terms and conditions set forth herein. Until the restrictions lapse upon the expiration of the Restriction Period, the Shares Awarded are not transferable by the Grantee by means of sale, assignment, gift, exchange, pledge or otherwise. The
Shares Awarded shall be subject to the restrictions placed on the certificates issued to the Grantee representing the Shares Awarded as set forth in this Agreement. 
 3. Restriction Period. Unless earlier forfeited in accordance with Section 4 of this Agreement, the restrictions set forth in this Agreement with respect to the Shares Awarded shall
lapse on the first anniversary of the Grant Date (the “Restriction Period”). 
 4. Forfeiture. Except as
otherwise provided by the Committee, in the event the Grantee ceases serving on the board of directors of the Company (the “Board”) prior to the expiration of the Restriction Period, the Grantee’s rights with respect to all Shares
Awarded shall be immediately forfeited. 
 5. Adjustments. In the event of any recapitalization of the Company,
then the number of Shares Awarded shall be appropriately adjusted as provided in the Plan. 
 6. Procedure on
Forfeiture. In the event of any forfeiture under this Agreement, the certificate representing the forfeited Shares Awarded shall be returned to the Company immediately on demand or, in the event such certificate is held in custody of the
Company, shall be immediately cancelled by the Company. In the event of a failure to comply with any such demand, the Plan authorizes the Company to bring suit to enforce the obligation to return forfeited Shares Awarded, and to recover any related
costs and expenses, including attorneys’ fees. The Shares Awarded will be immediately cancelled by the Company. The Shares Awarded are unique property and the Grantee’s obligation to return the forfeited Shares Awarded is specifically
enforceable by mandatory injunction. Any dispute with respect to the Shares Awarded or this Agreement shall 

 
be resolved exclusively by the courts seated in Kent County, Michigan, or the Federal District Court for the Western District of Michigan. 

7. Rights as a Stockholder. The Grantee shall have all the rights of a stockholder of the Company in respect of the Shares
Awarded during the Restriction Period, including the right to vote and receive dividends, except for the right to transfer the Shares Awarded as set forth in Section 2. 
 8. Miscellaneous. This Agreement contains the entire agreement of the parties with respect to its subject matter, and there are no other terms and conditions except as expressly set forth in
this Agreement and in the Plan. This Agreement may be amended or modified only by means of a written instrument signed by an authorized representative of the Company and the Grantee. Grantee’s rights pursuant to this Agreement may not be
assigned, in whole or in part, directly or indirectly, without the prior written consent of an authorized officer of the Company. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their respective heirs, personal
representatives, successors, and permitted assigns. 
  

			
	X-RITE, INCORPORATED
		
	By	 	  

 I hereby acknowledge that this Restricted Stock Agreement is subject to all of the terms and
conditions of the X-Rite, Incorporated 2011 Omnibus Long Term Incentive Plan, and that I have received a copy of the Plan and the Company’s most recent proxy statement and annual report furnished to shareholders. I also understand that
important income tax consequences are determined by whether I file an election with the Internal Revenue Service pursuant to Section 83 of the Internal Revenue Code of 1986, as amended, and I am not relying on the Company for any tax advice.

  

							
		 		 		 	Grantee:
				
	Date:

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