Document:

EX-10.5

 Exhibit 10.5 

ASTRONOVA, INC. 
 2018
EQUITY INCENTIVE PLAN 
 NON-STATUTORY STOCK OPTION 

(Non-employee Director) 

This Option is and shall be subject in every respect to the provisions of the 2018 Equity Incentive Plan, as amended from time to time (the
“Plan”) of AstroNova, Inc. (the “Company”), which is incorporated herein by reference and made a part hereof. The holder of this Option (the “Holder”) hereby accepts this Option subject to all the terms and provisions
of the Plan and agrees that (a) in the event of any conflict between the terms hereof and those of the Plan, the latter shall prevail, and (b) all decisions under and interpretations of the Plan by the Board or the Committee shall be
final, binding and conclusive upon the Holder and his or her heirs and legal representatives. Capitalized terms used herein but not defined shall have the meaning set forth in the Plan. 

 

	1.	Name of Holder:
                                        
                 

  

	2.	Date of Grant:
                                         
                 

  

	3.	Maximum number of shares of Stock for  

 which this Option is exercisable:
                             

 

	4.	Exercise (purchase) price per share:                           

 

	5.	Method of Exercise: The Option may be exercised, in whole or in part, by submitting a written notice (including by electronic mail) to the Company, signed by the Holder or such other person who may be entitled to
exercise such option, and specifying the number of shares of Stock as to which the option is being exercised. Such notice shall be accompanied by the payment of the full option price for such shares of Stock. Payment shall be made (i) in the
form of cash or check payable to the Company for an amount equal to the exercise price of the shares of Stock being purchased, (ii) by delivering to the Company previously owned and unencumbered shares of Stock in an amount equal to the
exercise price of the shares of Stock being purchased, or, (iii) with the consent of the Committee, by any of the other methods set forth in the Plan. After the exercise of the option and full payment therefor, shares of Stock representing the
number of shares of Stock for which this option has been exercised shall be issued either (i) in certificate form or (ii) in book entry or electronic form, registered in the name of the Holder. 

 

	6.	Expiration Date of Option:                             

  

	7.	Vesting Schedule: The Option shall vest in full immediately prior to the Company’s next Annual Meeting of Shareholders following the date hereof. All vesting shall cease on the date of termination of
Service. 

  

	8.	Termination of Service. 

 If the Holder fails to be
re-elected to the Board, resigns or otherwise ceases to be a director of the Company for reasons other than death or Disability (as defined in the Plan), any portion of the Option which is not exercisable on
such date shall immediately terminate, and any remaining portion shall terminate if not exercised before twenty-four (24) months following such termination, or at such earlier time as may be applicable under Paragraph 6 above. 

If the Holder ceases to be a director of the Company by reason of death or Disability, any portion of the option which is not exercisable on
such date shall become immediately exercisable, and may be exercised at any time before the expiration of twenty-four (24) months following the date of death or commencement of Disability, or such earlier time as may be applicable under
Paragraph 6 above. 
  

	9.	Tax Withholding. The Company’s obligation to deliver shares shall be subject to the Holder’s satisfaction of any federal, state and local income and employment tax withholding requirements, which
withholding may be satisfied by cash payment or, with the consent of the Committee, through the withholding or tender of shares of Stock with a Fair Market Value equal to such withholding obligations. 

 

	10.	Notice. Any notice to be given to the Company hereunder shall be deemed sufficient if addressed to the Company and delivered to the office of the Company, 600 East Greenwich Avenue, West Warwick, RI 02893,
attention of the president, or such other address as the Company may hereafter designate. 

 Any notice to be given to the
Holder hereunder shall be deemed sufficient if addressed to and delivered in person to the Holder at his or her address furnished to the Company or when deposited in the mail, postage prepaid, addressed to the Holder at such address. 

IN WITNESS WHEREOF, the parties have executed this Option, or caused this Option, as of the Date of Grant. 

 

			
	 ASTRONOVA, INC.

		
	By:	 	 
		 	 Name:

		 	 Title:

 The undersigned Holder hereby acknowledges receipt of a copy of the Plan and this Option, and agrees to the terms of
this Option and the Plan. 
  

	
	
	   

	

  
 2EX-10.6

 Exhibit 10.6 

ASTRONOVA, INC. 
 2018
EQUITY INCENTIVE PLAN 
 RESTRICTED STOCK AGREEMENT 

This Restricted Stock Agreement (“Agreement”) is made and entered into as of
                                 (the “Grant Date”), by and between
AstroNova, Inc. (the “Company”), and                                 
(the “Recipient”). This Agreement is and shall be subject in every respect to the provisions of the Company’s 2018 Equity Incentive Plan, as amended from time to time (the “Plan”), which is incorporated herein by reference
and made a part hereof. The Recipient acknowledges that this Agreement shall be subject to all the terms and provisions of the Plan and agrees that (a) in the event of any conflict between the terms hereof and those of the Plan, the latter
shall prevail, and (b) all decisions under and interpretations of the Plan by the Board or the Committee shall be final, binding and conclusive upon the Recipient and his or her heirs and legal representatives. 

In consideration of the mutual promises and covenants contained in this Agreement, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1.    Grant of Shares.
Upon the execution of this Agreement, the Company shall issue to the Recipient, in consideration of the Recipient’s service to the Company, subject to the terms and conditions set forth in this Agreement,
                         shares of common stock, $0.05 par value per share, of the Company (“Common Stock”).
Such shares, together with any securities of the Company that may be issued in exchange for or in respect of the shares, whether by way of stock split, stock dividend, combination of shares, reclassification, recapitalization, reorganization or any
other means, shall be referred to herein as the “Shares.” 
 2.     Vesting. The restrictions
applicable to the Shares shall lapse and the Shares shall become “Vested Shares” in accordance with the following schedule: 
  

			
	 Vesting Date
	  	 Number of Shares Vesting on
Date

		  	
		  	
		  	
		  	
		  	

 3.    Forfeiture of Unvested Shares. In the event that the Recipient ceases to
provide Service to the Company for any reason or no reason, with or without cause (“Termination”), all of the Shares that have not become Vested Shares as of the date of Termination in accordance with the vesting schedule set forth in
Section 2 above (any such shares, “Unvested Shares”) and all rights therein shall immediately be transferred to the Company pursuant to Section 3 below, and as of the date of Termination the Recipient shall have no further rights
with respect to such Shares; provided, however, in the event the Recipient ceases to provide Service to the Company by reason of death or Disability (as defined in the Plan), any Unvested Shares shall be immediately vested and no
longer subject to restrictions on Transfer (as defined below) hereunder. 
  

 4.    Transfer of Unvested Shares to Company. 

(a)    The Recipient acknowledges and agrees that any certificate or other document evidencing any Shares shall be held by
the Company until such Shares become Vested Shares. Promptly after any Shares become Vested Shares, the Company shall issue to the Recipient a certificate or other document evidencing such Vested Shares. The Recipient shall execute and deliver to
the Company such number of stock assignments as and when the Company shall request, duly endorsed in blank, in the form requested by the Company. Upon Termination, the Unvested Shares shall be transferred to the Company, and the certificates or
other documents evidencing the Unvested Shares shall be cancelled. 
 (b)    From and after the date of Termination, the
Company shall not pay any dividend to the Recipient on account of such Unvested Shares or permit the Recipient to exercise any of the privileges or rights as a stockholder with respect to the Unvested Shares, but shall, in so far as permitted by
law, treat the Company as the owner of such Unvested Shares. 
 (c)    No amount shall be payable to the Recipient with
respect to Unvested Shares transferred to the Company pursuant to this Section 3. 
 5.    Restrictions on
Transfer. Except as may be permitted pursuant to a Change in Control, the Recipient shall not sell, assign, transfer, pledge, hypothecate or otherwise dispose of, voluntarily or involuntarily, by operation of law or otherwise (collectively
“Transfer”) any Unvested Shares or any interest therein, except for Transfers to the Company pursuant to Section 3. In addition, the Recipient may not Transfer more than fifty percent (50%) of the Vested Shares unless and until the
earlier of (a) the date on which the Recipient meets the ownership level of Common Stock specified for Recipient in the Company’s stock ownership and retention guidelines, as the same may be amended from time to time in the discretion of
the Board, and (b) the date on which Recipient is no longer subject to the Company’s stock ownership and retention guidelines, as the same may be amended from time to time in the discretion of the Board. Any and all certificates
representing shares of Common Stock issued hereunder shall have appropriate legends evidencing such transfer restrictions. 

6.    Effect of Prohibited Transfer. The Company shall not be required (a) to transfer on its books any of the
Shares which shall have been sold or transferred in violation of any of the provisions set forth in this Agreement, or (b) to treat as owner of such Shares or to pay dividends to any transferee to whom any such Shares shall have been so sold or
transferred. 
 7.    Restrictive Legend. All certificates representing Shares shall bear a legend which refers
to the restrictions imposed by this Agreement and the Plan and any applicable state or federal securities laws or regulations, and which legend is otherwise in such form as the Company may deem appropriate. All Shares registered in book-entry shall
include stop transfer instructions consistent with such legends. 

  
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 8.    Adjustments for Recapitalizations and Other Transactions. The
Shares issued pursuant to this Agreement shall be adjusted to reflect any recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of
stock, or any issue of bonds, debentures, preferred or prior preference stock or other capital stock ahead of or affecting the 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 of a similar character or otherwise pursuant to the provisions of Section 10 of the Plan. 

9.    Taxes. The Recipient understands and agrees that: (i) he or she will be fully liable for any federal,
state or local taxes of any kind owed by him or her with regard to issuance of the Shares, whether owed at the time of transfer pursuant to the Recipient having made an election under Section 83(b) of the Internal Revenue Code of 1986, as
amended (an “83(b) Election”), or at the time that the Shares vest pursuant to the vesting schedule set forth in Section 2 above; and (ii) the Company has the right to deduct from payments of any kind otherwise due to the
Recipient any federal, state or local taxes of any kind required by law to be withheld with respect to issuance or vesting of the Shares. The Company’s obligations to issue the Shares shall be subject to the Recipient’s satisfaction of any
federal, state and local income and employment tax withholding requirements, which withholding may be satisfied by cash payment or, with the consent of the Committee, through the withholding or tender of shares of Common Stock with a Fair Market
Value equal to such withholding obligations. 
 10.    83(b) Election. The Recipient understands that it shall be
his or her decision whether to make an 83(b) Election with respect to the Shares, and that if he or she chooses to make such election, it must be made within 30 days of the date of execution of this Agreement. The filing of a Section 83(b)
election is solely the Recipient’s responsibility, and if the Recipient chooses to make such an election with respect to issuance of the Shares, he or she must provide a copy of such election to the Company. 

11.    Dividends. Any dividend or Dividend Equivalents credited or payable with respect to any Unvested Shares
shall be subject to the same restrictions and risk of forfeiture as the Unvested Shares and shall not be paid unless and until the such Shares become Vested Shares. 

12.    Miscellaneous. 

(a)    Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law. 

(b)    Binding Effect. This Agreement shall be binding and inure to the benefit of the Company and the Recipient
and their respective heirs, executors, administrators, legal representatives, successors and assigns, subject to the restrictions on transfer set forth in Section 4 of this Agreement. 

  
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 (c)    Notice. Any notice to be given to the Company hereunder
shall be deemed sufficient if addressed to the Company and delivered to the office of the Company 600 East Greenwich Avenue, West Warwick, Rhode Island 02893 or such other address as the Company may hereafter designate. Any notice to be given to the
Holder hereunder shall be deemed sufficient if addressed to and delivered in person to the Holder at his or her address furnished to the Company or when deposited in the mail, postage prepaid, addressed to the Holder at such address. 

(d)    Amendment. This Agreement may be amended or modified only by a written instrument executed by both of the
Company and the Recipient. 
 IN WITNESS WHEREOF, the parties hereto have executed this Restricted Stock Agreement as of the date first
written above. 
  

			
	 ASTRONOVA, INC.

		
	By:	 	 
	 Name:
	 	
	 Title:
	 	
	
	   

	 Name:
	 	

  
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