Document:

Exhibit  10.3

                  Agreement to Rescind Asset Purchase Agreement

            This Agreement to Rescind Asset Purchase Agreement ("Rescission
Agreement") is made on the 22nd day of October, 2002, by and between CONOLOG
CORPORATION ("Conolog"), a Delaware corporation with its principal place of
business at 5 Columbia Road, Somerville, New Jersey, and Independent Computer
Maintenance Corp. ("ICM"), formerly known as Lonogoc Corporation ("Lonogoc"), a
New Jersey corporation with its principal place of business at 5 Columbia Road,
Somerville, New Jersey, on the one hand, and NATONY CORP. ("Natony"), formerly
known as Independent Computer Maintenance Corp., with its principal place of
business at 1037 Route 46 East, Suite C-102, Clifton, New Jersey, and Anthony
Natoli ("Natoli"), individually, on the other hand:

                               W I T N E S S E T H

            WHEREAS, Conolog, as Parent of ICM, and ICM, as Buyer, then known as
Lonogoc, purchased substantially all of the assets and assumed certain
liabilities of Natony, as Seller, then known as ICM, under an Asset Purchase
Agreement dated July 21, 2000 ("Asset Purchase Agreement"); and

            WHEREAS, there has occurred a misunderstanding and/or dispute
between the parties with regard to the intent and performance of the Asset
Purchase Agreement; and

            WHEREAS, Conolog and ICM, on the one hand, and Natony and Natoli, on
the other hand, have agreed to resolve any and all misunderstandings and/or
disputes between them by rescission of the Asset Purchase Agreement and by
placing, to the extent possible, the parties in the positions they would have
been had they never entered into and closed the Asset Purchase Agreement;

            NOW, THEREFORE, Conolog and ICM, on the one hand, and Natony and
Natoli, on the other hand, agree to the following terms and conditions intending
to be legally bound.

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            1. RESCISSION. Conolog and ICM, on the one hand, and Natony and
Natoli, on the other hand, agree to rescind the Asset Purchase Agreement.

            A. Return of Assets. All assets transferred from Natony to ICM under
            paragraph 1.01 (a) of the Asset Purchase Agreement, to the extent
            they are owned by ICM and exist, shall be returned to Natoli, free
            and clear of all liens and encumbrances, including: (i) Merchandise
            inventory;

                  (ii)    Customer files and customer lists;

                  (iii)   Goodwill of ICM, including the right to use the names
                          "Independent Computer Maintenance Corp." and "ICM, and
                          the internet domain name "ICMCORPORATION.COM;"

                  (iv)    Any ICM security deposits held by others to secure ICM
                          performance of agreements;

                  (v)     Customer service contracts and open purchase orders;

                  (vi)    Unfilled customer service contracts and, with respect
                          to pre-paid service contracts, the pro-rata portion of
                          the fee paid for the un-expired term of the service
                          contract ("pre-paid fee"). The pre-paid fee may be
                          taken as a credit against the 10 year promissory note
                          forming a portion of the return of the purchase price;

                  (vii)   Originals of all ICM's books and records, including
                          but not limited to customer invoices, bank statements,
                          cancelled checks; financial statements, sales and
                          earnings reports and figures through date of closing,
                          employee and payroll information;

                  (viii)  All furniture, fixtures and equipment received by ICM
                          under the Asset Purchase Agreement, to be in the same
                          condition as when received by ICM;

                  (ix)    Any and all rights to the telephone number
                          973.916.1800.

            Conolog and ICM shall arrange to deliver the assets to Natoli at
            1037 Route 46 East, Suite C-102, Clifton, New Jersey, on or before
            Friday, October 25, 2002, at

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            its cost, subject to a $750 credit against the pre-paid fees set
            forth in sub-paragraph 1.A. (vi) above.

            B. Return of Purchase Price. The full amount of the purchase price
            paid by ICM to Natoni and Natoli under the Asset Purchase Agreement
            ($600,000) shall be returned and paid to Conolog as follows:

                  (i)     Natony and Natoli shall pay $300,000 to Conolog at
                          closing;

                  (ii)    Natoli shall deliver a promissory note to Conolog at
                          closing in the amount of $150,000, bearing interest of
                          7.5% per annum payable over 2 years in 24 equal
                          monthly payments of $6,749.94 per month, beginning on
                          December 30, 2002, and continuing for 24 months, with
                          the final payment due on November 30, 2004. The Note
                          shall be secured by a first mortgage on the
                          condominium owned by Mr. Natoli at 1037 Route 46 East,
                          Suite C-102, Clifton, New Jersey;

                  (iii)   Natony and/or Independent Computer Maintenance, LLC
                          (Anthony Natoli, Managing Member) shall deliver a
                          promissory note to Conolog at closing in the amount of
                          $150,000, less any prepaid fees, bearing interest of
                          5.0% per annum payable over 10 years in 120 equal
                          monthly payments beginning on December 30, 2004.
                          Interest only shall accrue for the first two years, so
                          that the balance on December 30, 2004, will be
                          $165,000 and will be payable in 120 equal monthly
                          payments of $1,750.08 per month.

                          The parties agree that the amount of pre-paid fees is
                          $13,400. Thus the amount of this 10 year Note shall be
                          $137,350 ($150,000 less $13,400 pre-paid fees plus
                          $750 moving reimbursement). The parties agree that the
                          principal balance due on December 30, 2004, shall be
                          $151,500, and will be payable in 120 equal monthly
                          payments of $1,606.89 per month.

            C. Assumption of Liabilities. Natony and Natoli shall assume and
            shall be fully liable to pay and/or discharge, and shall hold
            Conolog and ICM harmless from and against, the following
            liabilities:

                  (i)     Customer service contracts (maintenance);

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                  (ii)    Customer service contracts (block of time);

                  (iii)   DSL service contract at 1037 Route 46 East, Suite
                          C-102, Clifton, New Jersey;

                  (iv)    Telephone Directory Assistance Advertising Contracts.

            D. Excluded Assets and Liabilities. Conolog and ICM shall retain any
            and all accounts receivable for goods and services sold and provided
            to customers up to and including October 26, 2002. In the event that
            any payments are received by Natony and/or Natoli for goods and
            services sold and provided by ICM to customers prior to closing,
            they shall remit such payments, in full, to Conolog within five (5)
            business days of receipt. Conolog and ICM shall retain and be fully
            liable to pay, and shall hold Natony and Natoli harmless from and
            against, any and all accounts payable for goods and services
            purchased and received by Conolog and/or ICM prior to the closing.

                  In the event that any payments are received by Conolog and/or
            ICM for goods and services sold and provided by Natoli to customers
            after October 26, 2002, Conolog and/or ICM shall remit such
            payments, in full, to Natoli within five (5) business days of
            receipt.

                  Conolog and ICM, on the one hand, and Natony and Natoli, on
            the other hand, shall cooperate with one another in the collection
            of all payments due on all invoices.

            2. Representations of Conolog and ICM. Conolog and ICM represent
only that the assets returned to Natony and Natoli are free and clear of liens
and encumbrances, except to the extent set forth here (example: pre-paid
customer service contracts), that they have the authority to enter into and
close this Rescission Agreement in accordance with

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its terms and that the same will not violate any agreement, by-law or
certificate of incorporation, and that Robert Benou is authorized to execute
this Rescission Agremeent and other documents reasonably necessary to close this
Rescission Agreement. In addition, Conolog and ICM represent that all furniture,
fixtures and equipment received by ICM under the Asset Purchase Agreement and
returned to Natony and Natoli, shall be in the same condition as when received
by ICM. No other representations, express or implied, are made by Conolog and/or
ICM.

            3. Representations by Natony and Natoli. Natony and Natoli represent
only that they have the authority to enter into and close this Rescission
Agreement in accordance with its terms and that the same will not violate any
agreement, by-law or certificate of incorporation, that Anthony Natoli is
authorized to execute this Rescission Agreement and other documents reasonably
necessary to close this Rescission Agreement and that the office condominium
unit at 1037 Route 46 East, Suite C-102, Clifton, New Jersey, is owned by Natoli
free and clear of liens and encumbrances and that the mortgage given to secure
the $150,000 two (2) year note shall be a valid and binding 1st mortgage lien on
the property. No other representations, express or implied, are made by Natony
and Natoli.

            4. Natony and Natoli Indemnity. Natony and Natoli shall defend,
indemnify and hold harmless Conolog, ICM and all of their officers, directors,
employees and agents from and against any and all claims, actions and/or suits
against Conolog, ICM and/or Natony, and against Conolog and ICM officers,
directors, employees and agents arising from or related to the computer
maintenance business of ICM or Natony and/or claims arising from or related to
any conduct, acts or omissions of Natoli (whether as an employee or agent of
Conolog, ICM or Natony, or individually) and/or claims arising from or related
to any and all liabilities and debts of Natony and Natoli ("indemnity
obligations"). The indemnity

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obligations set forth herein shall apply regardless of when the claims, actions,
suits, liabilities and/or debts occurred or arose, and shall not be limited in
amount. Natony shall be personally liable for and shall personally guaranty the
indemnity obligations of Natony.

            Notwithstanding anything to the contrary herein, Natony and Natoli
shall have no liability for (i) trade payables incurred for goods and services
delivered or provided to Conolog or ICM prior to closing or for salary, benefits
or employee withholding taxes incurred for services rendered prior to closing,
which shall remain the liability and responsibility of ICM, or (ii) any
liabilities or claims against Conolog or ICM arising from the conduct of the
computer maintenance business by ICM, unless arising from acts or omissions of
Natoli, between August 27, 2002, and October 26, 2002.

            5. Non-Competition By Conolog and ICM. Conolog and ICM shall not
compete in the states of Connecticut, New Jersey, New York and/or Pennsylvania
in the computer maintenance business for a period of three (3) years after
closing. Conolog and ICM will not hire, retain or employ, as employees or
independent contractors, in the conduct of any business of providing computer
maintenance services to third parties any ICM technicians for a period of three
(3) years from the date of closing. Notwithstranding anything to the contrary
herein, this Rescission Agreement and the reversing and unwinding of the Asset
Purchase Agreement is not conditioned on ICM technicians agreeing to work for
Natony and/or Natoli.

            6. Mutual Non-Disparagement. The parties will agree not to make any
false or disparaging comments about the other.

            7. Non-Disclosure of Confidential Information. Conolog and ICM agree
not to disclose any confidential and proprietary information concerning

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<PAGE>

the business of ICM and/or Natony, and shall execute the Confidentiality and
Anti-Disparagement Agreement attached as Exhibit A.

            Notwithstanding anything to the contrary herein, the fact and terms
of this Rescission Agreement and of the Confidentiality and Anti-Disparagement
Agreement shall not be confidential.

            8. Use of Names "Independent Computer Maintenance Corp." and "ICM."
Conolog and ICM shall not use the names or marks "Independent Computer
Maintenance Corp." or "ICM" in any corporate name, bank account, letterhead,
internet domain name, advertising or marketing, and shall remove reference to
such names from any documents. ICM shall file an amendment to its certificate of
incorporation to change its name to eliminate any use of the names or marks
"Independent Computer Maintenance" or "ICM" within five (5) business days of
closing this Rescission Agreement.

            9. Notice to Customers. Conolog shall send a notice to all customers
in the form of letter attached as Exhibit B.

            10. Intent and Interpretation. It is the intent of the parties to
rescind and reverse the Asset Purchase Agreement as though it never occurred,
and to place the parties in the same positions they would have been had they
never entered into and closed the Asset Purchase Agreement. This Rescission
Agreement and its terms and conditions shall be interpreted to accomplish this
result. In the event of any ambiguity or doubt as to the intent of the parties,
this rescission Agreement and its terms should be interpreted and enforced in a
manner that puts the parties in the same position or in the position as close to
the same as reasonably possible had they never entered into and closed the Asset
Purchase Agreement.

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<PAGE>

            11. Notices. Any notice to be given pursuant to the terms of this
Agreement shall be in writing and forwarded to the other party and its attorney
by Federal Express (or any other established overnight courier delivery
service), or by facsimile, or by United States Certified Mail, return receipt
requested, and receipted by the postal authority, and such notice so dispatched
shall become effective on the date of receipt. For purposes thereof, the
addresses of the parties and attorneys are as follows:

AS TO CONOLOG and ICM:     Robert Benou
                           Conolog Corporation
                           5 Columbia Road
                           Somerville, NJ 08876
                           Facsimile: 908.722.5461

                           and

                           Russell L. Hewit
                           Dughi, Hewit & Palatucci, P.C.
                           340 North Avenue
                           Cranford, NJ 07016
                           Facsimile: 908.272.0909

AS TO NATONY and NATOLI:   Anthony Natoli
                           1037 Route 46 East, Suite C-102
                           Clifton, NJ 07013
                           Facsimile: to be supplied

                           and

                           Dominic Caruso
                           1037 Route 46, Suite 105
                           Clifton, NJ 07013
                           Facsimile: 973.472.7763

            12. No Broker. All parties represent and warrant that they did not
employ, contract with and/or contact any person to value, market for sale, find
for purchase, or negotiate for purchase or sale all or any part of the assets
being sold, transferred and/or assigned pursuant to this Rescission Agreement or
otherwise to act as a broker or agent in connection with

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<PAGE>

the subject matter of this Rescission Agreement. Conolog and ICM, and Natony and
Natoli, represent and warrant that they know of no basis or reason for any
person to claim that any commission is due from the closing of this Rescission
Agreement and each agrees to defend, indemnify and hold harmless the other for
any claims arising from a breach of this paragraph (including settlements,
judgments, awards and reasonable attorneys' fees and costs).

            13. Mutual Releases. Except as set forth in or to enforce or for
breach of this Rescission Agreement, Conolog and ICM, on the one hand, and
Natony and Natoli, on the other hand, forever release, waive, discharge and give
up any and all claims and rights that they may have against the other (and the
other's officers, directors, employees, agents and assigns) for any acts or
omissions that have occurred up to the date of this Rescission Agreement,
including but not limited to any and all claims, known as well as unknown,
existing now or which may arise or accrue in the future from or related in any
way to any act, omission, conduct, theory of strict liability or other
occurrence which occurred or took place at any time up to the date on which this
Rescission Agreement is made, arising from or related to (i) the Asset Purchase
Agreement, (ii) the Employment Agreement between Natoli and ICM as well as the
employment and termination of employment of Natoli by Conolog and/or ICM, and
(iii) the lease and termination of lease by ICM with regard to office space at
1037 Route 46 East, Suite C-102, Clifton, New Jersey. Except as set forth in or
to enforce or for breach of this Rescission Agreement, the parties acknowledge
and understand that they may never bring any claim against the other for any
reason related in any way to something that they did or did not do prior to the
date of this Rescission Agreement.

            14. Miscellaneous.

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<PAGE>

            A. No Bulk Transfers. The parties have agreed to waive compliance
            with the procedures and requirements set forth in all applicable
            bulk transfer, bulk sale and similar laws of all jurisdictions in
            connection with the transactions provided in this Rescission
            Agreement.

            B. Sales Taxes. Any and all sales taxes applicable to the sale and
            tranfer of assets to Natony and Natoli pursuant to this Rescission
            Agreement shall be paid by Natony and Natoli, which shall be in
            addition to the purchase price and shall be paid at closing.

            C. Complete Agreement. This Rescission Agreement represents the
            complete understanding between the parties and supersedes any and
            all previous negotiations, representations or agreements as to the
            subject matter of this Rescission Agreement. This Rescission
            Agreement may not be amended except by a written instrument signed
            by all parties (or their respective legal counsel).

            D. Binding Effect. All of the terms, covenants and conditions
            contained in this Agreement are and shall be for the benefit of and
            shall bind the parties and their successors and assigns,
            respectively.

            E. Waivers Only in Writing. No requirement, obligation, remedy or
            provision of this Agreement shall be deemed to have been waived,
            unless waived expressly in writing. The waiver of any such provision
            in one or more instances shall not be considered a waiver of the
            right to enforce such provision thereafter.

            F. Legal Counsel and Expenses. Each party has had the benefit of
            representation and advice by his own selected independent legal
            counsel, and each party shall be solely responsible for all legal
            and other professional fees and costs

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<PAGE>

            incurred to negotiate, draft and perform, or otherwise in way
            related to advice concerning, the Rescission Agreement.

            G. Choice of Law. This Rescission Agreement shall be constructed and
            interpreted, and any and all disputes under the Rescission Agreement
            resolved, in accordance with the laws of the State of New Jersey.

            H. Headings and Pronouns. The "headings" contained in this Agreement
            are the purposes of expediency and are not intended to interpret the
            content of the paragraph language they precede. As used herein, the
            masculine shall include the feminine; the singular shall include the
            plural; the neuter shall include the masculine and feminine; and
            vice versa.

[The remainder of this page is left blank intentionally. The next page is the
signature page.]

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<PAGE>

            IN WITNESS WHEREOF, the Parties sign this Rescission Agreement and
agree to the all of the terms and conditions set forth in this Rescission
Agreement intending to be legally bound as of the date first written above.

CONOLOG CORPORATION                 NATONY CORP.

--------------------------          -------------------------
Robert Benou, President             Anthony Natoli, President

Independent Computer                ANTHONY NATOLI, Individually
Maintenance Corp.

-------------------------           -------------------------
Robert Benou, Chairman              Anthony Natoli

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<PAGE>

                                    Exhibit A

                CONFIDENTIALITY AND ANTI-DISPARAGEMENT AGREEMENT

      This Confidentiality and Anti-Disparagement Agreement ("Confidentiality
Agreement") dated the 22nd day of October 22, 2002, is between Conolog Corp. (a
Delaware Corporation) and Independent Computer Maintenance Corp. (a New Jersey
Corporation), with offices at 5 Columbia Road, Somerville, NJ (referred to
herein jointly as "CONOLOG") and Anthony Natoli, residing at 28 Jericho Road,
Butler, NJ (referred to herein as "NATOLI").

            1. Purpose. The purpose of this Confidentiality Agreement is to
protect confidential information and material (oral, written, by demonstration,
electronic or by any other media or means) of the business operations of ICM,
which Conolog purchased from NATOLI in July of 2000, and which sale is being
rescinded by mutual consent. The parties acknowledge that information acquired
by CONOLOG, its officers, employees and agents regarding business practices,
procedures and transactions of ICM over the past 5 years has significant
personal, commercial and pecuniary value which would be diminished by
unauthorized disclosure to third parties. Accordingly, the commitments to
confidentiality in this Confidentiality Agreement are a condition of the
Rescission Agreement.

            2. Confidential Information. The term "Confidential Information"
means all information, documents, books and records and materials conveyed by
NATOLI to CONOLOG, and all information, documents, books and records and
materials obtained or received by CONOLOG during the time that it was operating
ICM. Confidential Information may include, by way of example, but without
limitation: clients; potential clients; prices and pricing policies; quoting
procedures; customer lists; client files; research; offering materials;
promotional material; sources; computer files and systems; database; invoices;
bank statements; checks;

<PAGE>

forms; contracts; systems; billing practices and procedures; customer ordering
habits and business needs; payment practices and procedures of customers; and
internal and/or attorney investigations and reports concerning ICM and customer
billing and payment practices and procedures and customer relationships or any
other work product and information, whether anecdotal, factual or document
based, relating in any manner to the computer maintenance business of ICM and/or
Natony.

            3. Non-Disclosure. In consideration of the Rescission Agreement and
return of the purchase price paid under the Asset Purchase Agreement from NATOLI
to CONOLOG and other good and valuable consideration, CONOLOG agrees not to
disclose or divulge to any other person, firm, corporation or entity whatsoever,
any Confidential Information as defined in paragraph 2 above, other than (a) to
an officer, director, employee, attorney, accountant, auditor, and/or other
professional advisor of Conolog or ICM, (b) as required by law or order of a
court of competent jurisdiction; (c) as necessary to comply with any legal,
regulatory (including but not limited to any public listing agency or system for
publicly traded securities) or government requirement; (d) as necessary to
enforce the terms of the Rescission Agreement; or (e) as necessary to defend
against any claims against Conolog, ICM or its officers, directors, employees or
agents for matters indemnified by Natony and/or Natoli.

            4. Equitable Remedies for Breach. CONOLOG acknowledges that NATOLI's
remedy in the form of monetary damages for any breach by CONOLOG of any of the
provisions of this Confidentiality Agreement may be inadequate and that, in
addition to any legal remedies for such breach, NATOLI shall be entitled to
institute and maintain any appropriate proceeding or proceedings seeking the
imposition of equitable remedies, including but not limited to the equitable
remedies of specific performance, injunction and/or rescission.

<PAGE>

            5. Effective Date. This Agreement is effective as of the date set
forth above.

                                          CONOLOG CORPORATION

                                          --------------------------------------
                                          Robert Benou, President

                                          INDEPENDENT COMPUTER MAINTENANCE CORP.

                                          --------------------------------------
                                          Robert Benou, Chairman

<PAGE>

                                    Exhibit B

                               Letter to Customers

                        Independent Computer Maintenance
                         1037 Route 46 East, Suite C-102
                                Clifton, NJ 07013
                                  973.916.1800

                                October 25, 2002

Dear Customer:

            Independent Computer Maintenance ("ICM") is pleased to announce that
it has re-established its principal place of business in Clifton, New Jersey,
under Mr. Anthony Natoli's original management team. ICM is no longer affiliated
with Conolog Corporation of Somerville, New Jersey.

            ICM rendered services as a subsidiary of Conolog Corporation through
Sunday, October 27, 2002, and will invoice customers for all services rendered
through October 26, 2002. These invoices should be paid to ICM at the Somerville
address - 5 Columbia Road, Somerville, NJ 08876.

            All services on and after October 28, 2002, will be provided and
invoiced by ICM Clifton, and should be paid to ICM at the Clifton address --
1037 Route 46 East, Suite C-102, Clifton, NJ 07013.

            We appreciate your business and look forward to continuing to
provide you with the same quality services you have always expected from ICM.

                                    Sincerely,

                                    Independent Computer Maintenance Corp.

                                    Anthony NatoliEXHIBIT 10.19

                 COMPETITIVE TECHNOLOGIES, INC.

             1997 EMPLOYEE'S STOCK OPTION AGREEMENT

      AGREEMENT  made  as  of June 17, 2002, between  COMPETITIVE
TECHNOLOGIES,  INC., a Delaware corporation (the "Company"),  and
John B. Nano ("Grantee" or "Optionee").

      WHEREAS, the Company has in effect a 1997 Employees'  Stock
Option  Plan, as amended January 18, 2002 (the "Plan"),  and  all
provisions  of the Plan are incorporated by reference  into  this
Agreement  and all defined terms in the Plan will have  the  same
meaning when used in this Agreement; and

     WHEREAS, Grantee is now or concurrently herewith will become
employed by the Company in a key employee capacity, and it is  in
the  best  interests of the company that Grantee  be  offered  an
opportunity to acquire stock ownership in the Company; and

     WHEREAS, pursuant to the Plan, the Compensation Committee of
the  Board of Directors (the "Committee"), has determined that  a
stock  option,  to  be partly an Incentive Option  and  partly  a
Nonstatutory  Option,  as detailed in this Agreement,  should  be
granted to Grantee under the Plan on the terms stated herein;

      NOW,  THEREFORE, the Company hereby grants to  Grantee  the
right  to  purchase 300,000 shares of the Company's Common  Stock
("Stock") on the following terms and conditions:

     1.   Grant and Option Price.  Subject to Paragraph 10 below,
this  is  an Incentive Option with respect to 186,044  shares  of
Stock  and is a Nonstatutory Option with respect to all remaining
shares of Stock subject to this Option.  Subject to adjustment as
provided  in  Paragraph 6 hereof, the per share option  price  at
which  the shares of Stock shall be purchased shall be $2.15  per
share,  which is not less than 100% of the per share fair  market
value of the Stock on the grant date.

     2.   Vesting and Period of Exercise.

     (a)   This  option will vest and the Optionee  may  exercise
this option as follows:

               Incentive Option         NonStatutory Option

          i)   46,511 on June 17, 2003  28,489 on June 17, 2003
          ii)  46,511 on June 17, 2004  28,489 on June 17, 2004
          iii) 46,511 on June 17, 2005  28,489 on June 17, 2005
          iv)  46,511 on June 17, 2006  28,489 on June 17, 2006

      (b)  In addition, and subject to the various provisions  of
Paragraph 8 of Grantee's Employment Agreement attached hereto  as
Appendix  A (the "Employment Agreement"), this option  will  vest
and become exercisable as of the date of the Optionee's death, or
the  date  the  Optionee becomes disabled within the  meaning  of
Section  8.b. of the Employment Agreement, regardless of  whether
Optionee is a Disabled Optionee.

      (c)  In addition, and subject to the various provisions  of
Paragraph  8 of Grantee's Employment Agreement, in the  event  of
Optionee's  resignation of "Good Reason," within the  meaning  of
Section   8.d.   of  the  Employment  Agreement,  or   Optionee's
Termination without Cause, within the meaning of Section 8.f.  of
the  Employment Agreement, this option will continue to vest  and
become  exercisable through the date that is six months following
the  employment  termination date or, if later,  the  anniversary
date of this Agreement next following the date of resignation  or
termination.

     (d)  In the event of Optionee's termination without Cause in
conjunction with a Change in Control, all as provided in  Section
8.g.  of  the  Employment Agreement, this option  will  vest  and
become exercisable.

      (e)   Optionee  may exercise this option, once  vested,  in
minimum  purchases  of 100 whole shares until  termination  under
Paragraph 3 hereof.

      3.   Termination of Option.  Upon the date that any one  of
the  events  specified  below first  occurs,  this  option  shall
terminate to the extent and at the times provided.

     (a)  Upon  the expiration of ten years from the date  hereof
          ("the Expiration Date"), this option shall terminate as
          to the then unexercised portion.

     (b)  If  Grantee  dies  while employed by the  Company,  all
          outstanding and exercisable Options held by Grantee  at
          the  time  of  his  death shall be exercisable  by  the
          person or persons entitled to do so under the Grantee's
          Will,  if  any, or by his legal representative  at  any
          time  before the earlier of (1) the Expiration Date  of
          this option or (2) one year after the date of Grantee's
          death.  Thereafter, this option shall terminate  as  to
          the then unexercised portion.

     (c)  If   Grantee's  employment  terminates  on  account  of
          disability, within the meaning of Section 8.b.  of  the
          Employment  Agreement, all outstanding and  exercisable
          Options  held by Grantee at the employment  termination
          date shall be exercisable before the earlier of (1) the
          Expiration  Date of this option or (2) one  year  after
          the  employment  termination  date.   Thereafter,  this
          option  shall  terminate  as to  the  then  unexercised
          portion.

     (d)  If Grantee's employment is terminated by the Company without
          Cause or by the Grantee for Good Reason, within the meaning of
          Section 8.f. or 8.d. of the Employment Agreement, all outstanding
          and exercisable Options held by Grantee at the employment
          termination date shall be exercisable before the earlier of (1)
          the Expiration Date of this option or (2) one year after the
          later of (A) the end of the Severance Benefit Period, within the
          meaning of Section 8.k. of the Employment Agreement, or (B) the
          next employment anniversary date for Grantee which would have
          occurred following the employment termination date (had Grantee's
          employment not terminated).  Thereafter, this option shall
          terminate as to the then unexercised portion.

     (e)  If  Grantee's employment is terminated by  the  Company
          without  Cause in conjunction with a Change in Control,
          within  the  meaning of Section 8.g. of the  Employment
          Agreement, all outstanding and exercisable options held
          by  Grantee at the employment termination date shall be
          exercisable  before the earlier of (1)  the  Expiration
          Date  of this option or (2) one year after the  end  of
          the  Change  in  Control Benefit Period as  defined  in
          Section  8.1. of the Employment Agreement.  Thereafter,
          this  option shall terminate as to the then unexercised
          portion.

     (f)  If  Grantee resigns for any reason not specified above,
          or  retires  under any retirement plan of the  Company,
          all outstanding and exercisable options held by Grantee
          at the employment termination date shall be exercisable
          before  the earlier of (1) the Expiration Date of  this
          option  or  (2)  three months after the date  Grantee's
          employment  or  service terminates.   Thereafter,  this
          option  shall  terminate  as to  the  then  unexercised
          portion.

     (g)  If  Grantee's employment is terminated by  the  Company
          for  Cause, within the meaning of Section 8.e.  of  the
          Employment  Agreement,  all outstanding  stock  Options
          held  by  the  Grantee at the time of such  termination
          shall  automatically  terminate  unless  the  Committee
          notifies  the Grantee in writing that his Options  will
          not terminate.

     For purposes of this Paragraph 3,

     (i)  employment by a subsidiary or parent of the Company shall be
           deemed employment by the Company,

     (ii)  the  Grantee's  employment  shall  not  be  considered
           terminated  by  an authorized leave of absence  for  a
           period  not exceeding ninety days, or a longer period,
           if  Grantee is entitled by contract or applicable  law
           to continue in the employ of the Company, and

     (iii) the Committee in its discretion shall determine which
           Sub-paragraph of Section 8 of the Employment Agreement governs
           Grantee's termination of employment and the Committee's
           determination shall be final and binding.

     4.    Non-Transferability.  During the lifetime of  Grantee,
this  option may be exercised only by Grantee.  This option shall
not be assignable or transferable, except by will or the laws  of
descent and distribution.

     5.     Confidential   and  Proprietary   Information,   Etc.
Following  termination of Grantee's employment with the  Company,
it  shall be a condition precedent to the exercise of any options
that  remain exercisable after such termination that Grantee  not
be  in  material breach of any of the provisions of Sections  10,
11,  12  and 13 of the Employment Agreement that apply to conduct
by  the  Grantee  subsequent to termination of employment,  which
breach,  after written notice by the Company of such  breach,  is
not  cured within ten (10) days of such notice, all as determined
by  the  Board  of  Directors of the Company  in  its  reasonable
discretion.

     6     Change  in  Shares.   If any change  is  made  in  the
Company's  outstanding  shares of Stock, appropriate  adjustment,
disregarding  fractional shares, shall be made to  the  kind  and
number of shares subject to this option, and to the option  price
therefor, as provided in Section 9 of the Plan. The determination
by  the  Committee of such changes to the shares subject to  this
option  and  the  price therefor shall be final  and  binding  on
Optionee.

     7.    Corporate  Reorganizations.  Notwithstanding  anything
contained herein to the contrary, the unexercised options granted
hereunder  shall lapse at the time(s) and to the extent  provided
in Section 15 of the Plan.

    8.    Compliance  With Securities Laws.  As  a  condition  to
exercise of this option, Optionee shall agree:

    (a)   that  Optionee  will purchase any shares  hereunder  for
          Optionee's own account for investment and not with any present
          intention to resell or distribute the same, and upon any exercise
          of this option, Optionee shall sign and deliver to the Company a
          certificate to such effect;

     (b)  that  Optionee will not, directly or indirectly,  sell,
          transfer,  assign,  pledge,  hypothecate  or  otherwise
          dispose  of any such shares unless the sale,  transfer,
          assignment,  pledge, hypothecation or other disposition
          of the shares is pursuant to the provisions of the Plan
          and effective registrations under the Securities Act of
          1933,  as amended, and any applicable state or  foreign
          securities  laws or pursuant to appropriate  exemptions
          from any such registrations; and

     (c)  that   Optionee  will  execute  such  other  documents,
          including  but  not  limited to any  stock  restriction
          agreement,  as the Committee determines,  in  its  sole
          discretion,  to  be  necessary  to  comply   with   any
          applicable laws or regulations relating to the sale  of
          securities.  If the Committee determines, in  its  sole
          discretion,  that  the statement of Optionee  mentioned
          above  is not necessary to protect adequately both  the
          Company and Optionee under applicable federal and state
          securities  laws, it shall promptly notify Optionee  of
          such  determination.  Upon receipt of such notice  from
          the  Committee, the statement of Optionee  required  by
          this  paragraph  shall  not be prerequisite  to  future
          purchases  of stock under outstanding options  and  any
          such  statements made by Optionee prior thereto  shall,
          to the extent provided in such notice, be automatically
          rescinded.

     9.    Method  of  Exercise.  Optionee  shall  exercise  this
option  by  delivering to the Secretary of  the  Company  at  its
principal   place  of  business  (a)  a  signed  written   notice
specifying  the  number and type (Incentive or  Nonstatutory)  of
shares  to  be purchased, containing a statement which  obligates
Optionee to all of the terms and conditions set forth herein and,
if  required,  also  containing the  statements  referred  to  in
Paragraph  8  hereof, in form satisfactory  to  counsel  for  the
Company,  and (b) cash, check, bank draft or money order  payable
to  the  order of the Company in the full amount of the  purchase
price for such shares, or in lieu of such cash, check, bank draft
or  money order, Optionee may make payment in whole or in part by
tendering to the Company a certificate or certificates for shares
of  Common  Stock  of the Company, which shares shall  have  been
owned  by  the Optionee or the Optionee's representative  for  at
least  six  months  prior to the exercise date,  valued  at  fair
market  value on the exercise date, duly endorsed by the Optionee
or  accompanied  by  a  stock assignment  duly  executed  by  the
Optionee,  with signatures guaranteed.  Subject to the provisions
of Paragraph 10 of the Plan regarding listing of shares purchased
hereunder, the Company shall, within ten (10) business days after
receipt  of  the foregoing, deliver or cause to be  delivered  to
Optionee  a  certificate or certificates representing the  shares
purchased.

     10.  Incentive Option.  Optionee agrees that

     (a)  To  the  extent  that (i) any portion  of  this  option
          originally granted as an Incentive Option is  exercised
          more  than  three (3) months (or such longer period  as
          may  be  provided by Section 422(a) of the Code)  after
          the  date  of the termination of Optionee's  employment
          for   any   reason  other  than  death,  or  (ii)   any
          acceleration  of the vesting of the option  causes  the
          Incentive  Option to violate Section 5(f) of the  Plan,
          such  portion  of  the  option shall  automatically  be
          treated  as  a Nonstatutory Option; provided,  however,
          that  if  Optionee  is a Disabled Optionee,  then  such
          three  (3)  month  period referred to  above  shall  be
          extended to one (1) year (or such longer period as  may
          be provided by Section 422(c)(6) of the Code).

     (b)  If  and to the extent that this is an Incentive Option,
          then  if shares acquired on any exercise of this option
          are  disposed of within two years from the date of  the
          granting  of this option or within one year  after  the
          transfer of such shares to Optionee, Optionee will give
          the  Company prompt written notice stating the date  of
          such  disposition  and the amount  realized  upon  such
          disposition.

     11.    Miscellaneous.   The  Optionee  hereby   acknowledges
receipt of a copy of the Plan document and agrees to be bound  by
all  terms and provisions thereof and as the same may be  amended
from  time  to  time in accordance with the terms  thereof.   The
Optionee further acknowledges and agrees that in the event of any
conflict  herewith, the provisions of the Plan shall  govern  and
control,  and  this Agreement or the applicable provision  hereof
will automatically be deemed modified to conform ab initio.  This
Agreement  together with Appendix A and the Plan  constitute  the
entire  agreement and understanding between the Company  and  the
Optionee  and  may not be changed, modified or  amended  by  oral
statements  to the contrary, but only by written document  signed
by  both parties hereto.  This Agreement will be binding  on  and
inure  to the benefit of the parties hereto, and their respective
heirs, legatees, successors and assigns.  This Agreement will  be
construed in accordance with the laws of the State of Delaware.

     IN WITNESS WHEREOF, on the date specified above, the Company
has  granted and the Optionee has accepted, each by its execution
of this Agreement, this option.

                              COMPETITIVE TECHNOLOGIES, INC.

                              By: /s/Frank R. McPike, Jr.

ATTEST:
/s/Jeanne Wendschuh

                              OPTIONEE:

                              /s/John B. Nano

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