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EXHIBIT 4.1  

 
 

MICRO COMPONENT TECHNOLOGY, INC.
  2004 INCENTIVE STOCK PLAN
  (Adopted by the Board of Directors on April 15, 2004)    

ARTICLE I.

PURPOSE  

        The purpose of this Plan is to provide a means whereby Micro Component Technology, Inc. (the "Company") may be able, by granting stock options ("Options")
and shares of restricted stock ("Restricted Stock") to attract, retain and motivate capable and loyal employees, consultants and advisors of the Company and its subsidiaries, for the benefit of the
Company and its shareholders. Options granted under the Plan may be either Incentive Stock Options which qualify for favorable tax treatment under Section 422 of the Internal Revenue Code (the
"Code"), or Nonqualified Stock Options which do not qualify for favorable tax treatment. Options and Restricted Stock are referred to collectively in this Plan as "Awards". 

ARTICLE II.

RESERVATION OF SHARES  

        A total of 880,000 shares of Common Stock of the Company ("Shares") are reserved for issuance pursuant to Awards granted under the Plan. If any Shares included in
an Award are not purchased or are forfeited, or if an Award otherwise terminates without delivery of any Shares, then the number of Shares included in the Award, to the extent of any such forfeiture
or termination, shall again be available for granting Awards under the Plan. Shares reserved for issue as provided herein shall cease to be reserved upon termination of the Plan. 

        The
maximum number of Shares for which Awards may be granted under the Plan to all persons in any calendar year shall be limited to three percent of the total outstanding Shares. The
maximum number of Shares 

for
which any person may be granted Awards under the Plan in any calendar year shall be limited to 300,000 Shares. 

ARTICLE III.

ADMINISTRATION  

        (a)   The
Plan shall be administered by the Compensation Committee of the Board of Directors of the Company (the "Committee"). The Committee shall be appointed by the Board of
Directors and shall be comprised solely of two or more "non-employee directors" within the meaning of SEC Rule 16b-3. Each member of the Committee shall also be an
"outside director" within the meaning of Code Section 162(m). Vacancies in the Committee shall be filled by the Board. 

        (b)   The
Committee shall have full power to construe and interpret the Plan and to establish and amend rules and regulations for its administration, subject to the express
provisions of the Plan. 

        (c)   The
Committee shall determine which persons shall be granted Awards under the Plan, the types of Awards to be granted, the number of Shares included in each Award, any
limitations on the exercise or vesting of Awards in addition to those imposed by this Plan, and any other terms and conditions of Awards. The Committee may also approve amendments to outstanding
Awards, provided there is no conflict with the terms of the Plan, applicable law, or applicable stock market rules and regulations. In determining the persons to whom Awards shall be granted and the
number of Shares to be included in each Award, the Committee shall consider the person's contributions to the Company's revenues, net income, stock price, and other factors which the Committee
determines appropriate from time to time. 

        (d)   The
Committee shall not approve any repricing of outstanding Options without prior shareholder approval. The term "repricing" means (i) a reduction in the
exercise price of an Option after it has been granted, (ii) the cancellation of an Option in exchange for a new Option, unless pursuant to a merger or similar transaction, or (iii) any
similar action which would be treated as a repricing under applicable accounting rules. 

ARTICLE IV.

ELIGIBILITY  

        An Award may be granted to any employee, consultant or advisor of the Company or its subsidiaries, except that no consultant or advisor shall be granted Awards in
connection with the offer and sale of securities in a capital raising transaction on behalf of the Company. A person who has received an Award is referred to in this Plan as a "Participant." 

ARTICLE V.

CHANGES IN PRESENT STOCK  

        In the event of a recapitalization, merger, consolidation, reorganization, stock dividend, stock split or other change in capitalization affecting the Company's
present capital stock, appropriate adjustment may be made by the Committee in the number and kind of shares included in any Award, and the exercise or purchase price of any Award. 

ARTICLE VI.

OPTIONS  

        (a)   Option Exercise Price.    The per share exercise price for each Option shall be determined by the Committee at
the time of grant, provided that the per share exercise price for any Incentive Stock Option shall be not less than the fair market value of the Common Stock on the date the Option is granted. The
fair market value of the Common Stock as of any date on or before the 15th of any month shall be the closing market price for the Common Stock on the 15th of such month, or
on the trading day closest to the 15th if the Common Stock does not trade on the 15th. The fair market value of the Common Stock as of any date after the 15th
of any month shall be the closing market price for the Common Stock on the 15th of the following month, or on the trading day closest to the 15th if the Common Stock does
not trade on the 15th. If there is no closing market price for the Common Stock, the Committee shall use such other information deemed appropriate by the Committee. No Incentive Stock
Option shall be granted to any employee who at the time directly or indirectly owns more than ten percent of the combined voting power of all classes of stock of the Company or of a 

subsidiary,
unless the exercise price is not less than 110 percent of the fair market value of the Common Stock on the date of grant, and unless the Option is not exercisable more than five
years after the date of grant. 

        (b)   Exercise of Options.    An optionee shall exercise an Option by delivery of a signed, written notice to the
Company, specifying the number of Shares to be purchased, together with payment of the full purchase price for the Shares. The Company may accept payment from a broker on behalf of the optionee and
may, upon receipt of signed, written instructions from the optionee, deliver the Shares directly to the broker. The date of receipt by the Company of the final item required under this paragraph shall
be the date of exercise of the Option. 

        (c)   Option Agreement Provisions.    Each Option granted under the Plan shall be evidenced by a Stock Option
Agreement executed by the Company and the optionee, and shall be subject to the following terms and conditions, and such other terms and conditions as may be prescribed by the Committee: 

	(i)
	Dollar Limitation.    Each Option grant to an employee shall constitute an Incentive Stock Option eligible for
favorable tax treatment under Section 422 of the Code, provided that no more than $100,000 of such Options (based upon the fair market value of the underlying Shares as of the date of grant)
can first become exercisable for any employee in any calendar year. To the extent any Option grant exceeds the $100,000 dollar limitation, it shall constitute a Nonqualified Stock Option. Each stock
option agreement shall specify the extent to which it is an Incentive and/or a Nonqualified Stock Option. For purposes of applying the $100,000 limitation, options granted under this Plan and under
all other plans of the Company and its subsidiaries which are qualified under Section 422 of the Code shall be included.

	(ii)
	Payment.    The full purchase price of the Shares acquired upon exercise of any Option shall be paid in cash,
by certified or cashier's check, or in the form of Shares of the Company's Common Stock with a fair market value equal to the full purchase price and free and clear of all liens and encumbrances. 

The
Committee in its sole discretion may also permit the "cashless exercise" of an Option. In the event of a cashless exercise, the optionee shall surrender the Option to the Company, and the Company
shall issue the optionee the number of Shares determined as follows: 

X =
Y (A-B) /A where: 

X =
the number of Shares to be issued to the optionee. 

Y =
the number of Shares with respect to which the Option is being exercised. 

A =
the closing sale price of the Common Stock on the date of exercise, or in the absence thereof, the fair market value on the date of exercise. 

B =
the Option exercise price. 

	(iii)
	Exercise Period.    The period within which an Option must be exercised shall be determined by the Committee
at the time of grant. The exercise period for an Incentive Stock Option or a Nonqualified Stock Option shall be subject to a maximum of ten years, or five years for an Incentive Stock Option granted
to an employee who directly or indirectly owns more than ten percent of the combined voting power of all classes of stock of the Company or a subsidiary. Unless modified by the Committee, each Option
shall become exercisable to the extent of 25 percent of the shares on each of the first four anniversaries of the date of grant. To the extent exercisable, an Option may be exercised in whole
or in part. The Committee may impose different or additional conditions with respect to length of service or attainment of specified performance goals which must be satisfied prior to exercise of all
or any part of an option. 

        Outstanding
Options shall become immediately exercisable in full in the event that the Company is acquired by merger, purchase of all or substantially all of the Company's assets, or
purchase of a majority of the outstanding stock by a single party or a group acting in concert. 

	(iv)
	Rights of Optionee Before Exercise.    The holder of an Option shall not have the rights of a shareholder with
respect to the Shares covered by his or her Option until such Shares have been issued to him or her upon exercise of the Option.

	(v)
	Termination of Employment.    If an optionee's employment is terminated other than by death, disability, or for
conduct which is contrary to the best interests of his or her employer, the optionee may, within 90 days of such termination (or longer, if approved by the Committee), exercise any unexercised
portion of his or her Option to the extent he or she was entitled to do so at the time of such termination. 

        If
termination of employment is effected by death or disability of the optionee, the Option, or any portion thereof, may be exercised to the extent the optionee was entitled to do so at
the time of his or her death 

or
disability, by the optionee or his or her personal representative, at any time within six months subsequent to the date of his or her termination of employment. 

        If
an optionee's employment is terminated by his or her employer for conduct which is contrary to the best interests of the employer, as determined by the employer in its sole
discretion, the unexercised portion of the optionee's Option shall expire automatically on the date of termination of his or her employment. 

        Notwithstanding
the foregoing, no Option shall be exercisable subsequent to the date of expiration of the Option term and no Option shall be exercisable subsequent to the termination of
the optionee's employment except as specifically provided in this paragraph (v). 

	(vi)
	Non-transferability of Option.    No Option shall be transferable by the optionee otherwise than
by will or by the laws of descent and distribution, and each Option shall be exercisable during the optionee's lifetime only by the optionee. No Option may be attached or subject to levy by an
optionee's creditors.

	(vii)
	Date of Grant.    The date on which the exercise price becomes fixed for an Option shall be considered the
date on which the Option is granted. 

ARTICLE VII.

RESTRICTED STOCK  

        (a)   Grant of Restricted Stock.    Each grant of Restricted Stock made under the Plan shall be for such number of
Shares as shall be determined by the Committee and set forth in the agreement containing the terms of such grant. The agreement shall set forth a period of time during which the grantee must remain in
the continuous employment of the Company in order for the forfeiture and transfer restrictions to lapse. If the Committee so determines, the restrictions may lapse during such restricted period in
installments with respect to specified portions of the shares covered by the Restricted Stock grant. The agreement may also, in the discretion of the Committee, set forth performance or other
conditions that will subject the shares to forfeiture and transfer restrictions, in addition to or in lieu of time-based restrictions. The Committee may, in its discretion, waive all or
any part of the restrictions applicable to any or all outstanding Restricted Stock grants. 

        Grants
of Restricted Stock shall become immediately fully-vested and free of all forfeiture and transfer restrictions in the event the Company is acquired by merger, purchase of all or
substantially all of the Company's assets, or purchase of a majority of the outstanding stock by a single party or a group acting in concert. 

        (b)   Agreements.    Awards of Restricted Stock shall be evidenced by agreements in such form as the Committee shall
from time to time approve, which agreements shall be subject to the terms and conditions contained in the Plan and any additional terms and conditions established by the Committee that are consistent
with the Plan. 

        (c)   Delivery of Common Stock and Restrictions.    At the time of a Restricted Stock grant, a certificate
representing the number of Shares awarded thereunder shall be registered in the name of the Participant. Such certificate shall be held by the Company or any custodian appointed by the Company for the
account of the Participant subject to the terms and conditions of the Plan, and shall bear such a legend setting forth the restrictions imposed thereon as the Committee, in its discretion, may
determine. The Participant shall have all rights of a shareholder with respect to the Shares, including the right to receive dividends and the right to vote such shares, subject to the following
restrictions: (i) the Participant shall not be entitled to delivery of the stock certificate until the expiration of the restricted period and the fulfillment of any other restrictive
conditions set forth in the agreement with respect to such Shares; (ii) none of the Shares may be sold, assigned, transferred, pledged, hypothecated or otherwise encumbered or disposed of
during such restricted period or until after the fulfillment of any such other restrictive conditions; and (iii) except as otherwise determined by the Committee, all of the Shares shall be
forfeited and all rights of the Participant to such Shares shall terminate, without further obligation on the part of the Company, unless the Participant remains in the continuous employment of the
Company for the entire restricted period in relation to which such Common Stock was granted and unless any other restrictive conditions relating to the Restricted Stock Award are met. Any Common
Stock, any other securities of the Company and any other property (except for cash dividends) distributed with respect to the Shares subject to Restricted Stock Awards shall be subject to the same
restrictions, terms and conditions as such Restricted Stock. 

        (d)   Termination of Restrictions.    At the end of the restricted period and provided that any other restrictive
conditions of the grant of Restricted Stock are met, or at such earlier time as otherwise determined by the Committee, all restrictions set forth in the agreement relating to the grant of Restricted
Stock or in the Plan shall lapse as to the Restricted Stock subject thereto, and a stock certificate for the appropriate number of Shares, free of the restrictions and the Restricted Stock legend,
shall be delivered to the Participant or his or her beneficiary or estate, as the case may be. 

ARTICLE VIII.

GENERAL  

        (a)   No Cash Consideration for Awards.    Awards shall be granted for no cash consideration or for such minimal cash
consideration as may be required by applicable law. 

        (b)   Awards May Be Granted Separately or Together.    Awards may, in the discretion of the Committee, be granted
either alone or in addition to, in tandem with or in substitution for any other Award. Awards granted in addition to or in tandem with other Awards may be granted either at the same time as or at a
different time from the grant of such other Awards. 

        (c)   Term of Awards.    The term of each Award shall be for such period as may be determined by the Committee. 

        (d)   Restrictions; Stock Market Listing.    All certificates for Shares or other securities delivered under the Plan
pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan, or the rules, regulations and
other requirements of the Securities and Exchange Commission and any applicable federal or state securities laws, and the Committee may cause a legend or legends to be placed on any such certificates
to make appropriate reference to such restrictions. If the Shares are traded on a securities market, the Company shall not be required to deliver any Shares covered by an Award unless and until such
Shares have been admitted for trading on such securities market. 

        (e)   No Right to Continued Employment.    Nothing in the Plan or in any Award document shall be construed to confer
upon any employee any right to continue in the employ of the Company or a subsidiary, or 

to
interfere in any way with the right of the Company or a subsidiary as employer to terminate his or her employment at any time, nor to derogate from the terms of any written employment agreement
between such corporation and the optionee. 

        (f)    Section 16 Compliance.    The Plan is intended to comply in all respects with SEC
Rule 16b-3, as amended, and in all events the Plan shall be construed in accordance with the requirements of Rule 16b-3. If any Plan provision does not comply
with Rule 16b-3, the provision shall be deemed inoperative. The Board of Directors, in its absolute discretion, may bifurcate the Plan so as to restrict, limit or condition the use
of any provision of the Plan with respect to persons who are officers or directors subject to Section 16 of the Securities and Exchange Act of 1934, as amended, without so restricting, limiting
or conditioning the Plan with respect to other Participants. 

ARTICLE IX.

WITHHOLDING OF TAXES  

        The Company shall make such provisions and take such steps as it may deem necessary or appropriate for the withholding of any taxes that the Company is required
by any law or regulation to withhold in connection with any Award including, but not limited to, withholding a portion of the Shares issuable pursuant to the Award, or requiring the Participant to pay
to the Company, in cash, an amount sufficient to cover the Company's withholding obligations. 

ARTICLE X.

EFFECTIVE DATE OF PLAN  

        The effective date of the Plan shall be April 15, 2004, the date of its original adoption by the Board of Directors of the Company. 

ARTICLE XI.

DURATION OF THE PLAN  

        The Plan shall terminate April 15, 2014, which is ten years after the date of its approval by the Board of Directors, unless sooner terminated by issuance
of all Shares reserved for issuance hereunder. No Award shall be granted under the Plan after such termination date. 

ARTICLE XII.

TERMINATION OR AMENDMENT OF THE PLAN  

        The Board of Directors of the Company may at any time terminate the Plan, or make such modifications of the Plan as it shall deem advisable, subject to
shareholder approval to the extent required by applicable law or stock market rule or regulation. No termination or amendment of the Plan may, without the consent of the Participants to whom any
Awards shall previously have been granted, adversely affect the rights of such Participants under such Awards. 

ARTICLE XIII.

SHAREHOLDER APPROVAL  

        The Board of Directors shall submit the Plan to the shareholders for their approval within 12 months of the date of its adoption by the Board. Awards
granted prior to such approval are contingent on receipt of such approval, and shall automatically lapse if such approval is not granted. The Board shall also submit any amendments to the shareholders
for approval if required by applicable law or stock market rule or regulation. 

ARTICLE XIV.

INTERPRETATION  

        The Plan shall be interpreted in accordance with Minnesota law. 

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EXHIBIT 4.2  

 
 

MICRO COMPONENT TECHNOLOGY, INC.
  STOCK OPTION PLAN FOR OUTSIDE DIRECTORS
  (as amended through April 15, 2004)    
    

ARTICLE I

PURPOSE  

        The purpose of this Plan is to provide a means whereby Micro Component Technology, Inc. (the "Company") may be able, by granting options to purchase shares
of the Company's Common Stock ("Common Stock"), to attract and retain qualified outside (non-employee) directors, and to motivate such directors, through an increased personal interest in
the Company, to exert their best efforts on behalf of the Company, and thus to advance the interests of the Company and its shareholders. 

ARTICLE II

RESERVATION OF SHARES  

        A total of 880,000 shares of authorized but unissued Common Stock is reserved for issue upon the exercise of options granted under the Plan. If any option expires
or terminates for any reason without having been exercised in full, the unpurchased shares covered thereby shall become available for additional options which may be issued to persons eligible under
the Plan so long as it remains in effect. Shares reserved for issue as provided herein shall cease to be reserved upon termination of the Plan. 

ARTICLE III

ADMINISTRATION  

        The Plan shall be administered by the Board of Directors of the Company. The Board shall have full power to construe and interpret the Plan and to establish and
amend rules and regulations for its administration, subject to the express provisions of the Plan. The Board may grant options under the Plan to any director who is not an employee of the Company. 

ARTICLE IV

GRANT OF OPTIONS  

        Each person who becomes an outside director of the Company after this Plan becomes effective shall automatically be granted an option to purchase 10,000 shares of
Common Stock immediately upon first being appointed or elected as a director of the Company. Beginning in the 1996 calendar year, each outside director shall also automatically be granted an option to
purchase 10,000 shares of Common Stock immediately upon each re-election as a director, or on the anniversary of the prior year's grant in any year in which there is no meeting of the
shareholders at which directors are elected. In no event shall a director receive more than one grant in any fiscal year. 

ARTICLE V

PRICE  

        The option price per share of Common Stock, to be determined from time to time by the Board, shall be not less than the fair market value of such stock on the
date an option to purchase the same is granted. The fair market value of the Common Stock as of any date shall be equal to the closing sale price of the Common Stock on the next preceding trading date
as reported by the NASDAQ Small Cap Market or National Market System, or any other market, system or exchange on which a majority of the trades in the Common Stock occur. 

ARTICLE VI

CHANGES IN PRESENT STOCK  

        In the event of a recapitalization, merger, consolidation, reorganization, stock dividend, stock split or other change in capitalization affecting the Company's
present capital stock, appropriate adjustment
may be made by the Board in the number and kind of shares and the option price of shares which are or may become subject to options granted or to be granted hereunder. 

ARTICLE VII

EXERCISE OF OPTIONS  

        An optionee shall exercise an option by delivery of a signed, written notice to the Company, specifying the number of shares to be purchased, together with
payment of the full purchase price for the shares. The 

Company
may accept payment from a broker on behalf of the optionee and may, upon receipt of signed, written instructions from the optionee, deliver the shares directly to the broker. The date of
receipt by the Company of the final item required under this paragraph shall be the date of exercise of the option. 

ARTICLE VIII

OPTION PROVISIONS  

        Each option granted under the Plan shall be evidenced by a Stock Option Agreement executed by the Company and the optionee, and shall be subject to the following
terms and conditions, and such other terms and conditions as may be prescribed by the Board: 

        (a)   Payment.    The full purchase price of the shares acquired upon exercise of any option shall be paid in cash,
by certified or cashier's check, or in the form of shares of Common Stock with a fair market value equal to the full purchase price and free and clear of all liens and encumbrances. 

        (b)   Exercise Period.    The period within which an option must be exercised shall be the earlier of (i) ten
years from the date of grant thereof, or (ii) the date which is one year after the director ceases to be a director for any reason. An option may not be exercised during the first year after
the date of grant. The option shall become exercisable to the extent of 50 percent of the shares on the first anniversary of the date of grant and 100 percent of the shares on the second
anniversary of the date of grant, provided the optionee is still a director on each such anniversary date. To the extent exercisable, an option may be exercised in whole or in part. 

        A
director who voluntarily declines to stand for re-election after the age of 60 shall not be required to exercise his or her options within one year after he or she ceases
to be a director and
shall continue to vest in his or her options after he or she ceases to be a director. In no event shall any of such director's options be exercisable more than ten years after the date of grant
thereof. 

        Outstanding
options shall become immediately exercisable in full in the event that the Company is acquired by merger, purchase of all or substantially all of the Company's assets, or
purchase of a majority of the outstanding stock by a single party or a group acting in concert. 

        (c)   Rights of Optionee Before Exercise.    The holder of an option shall not have the rights of a stockholder with
respect to the shares covered by his or her option until such shares have been issued to him or her upon exercise of an option. 

        (d)   Non-transferability of Option.    No option shall be transferable by the optionee otherwise than by
will or by the laws of descent and distribution, and each option shall be exercisable during the optionee's lifetime only by the optionee. 

        In
the event of the death of an optionee, the option, or any portion thereof, may be exercised to the extent the optionee was entitled to do so at the time of his or her death, by his or
her personal representative. 

ARTICLE IX

RESTRICTIONS ON TRANSFER  

        During any period in which the offering of the shares under the Plan is not registered under federal and state securities laws, the optionees shall agree in the
Stock Option Agreements that they are acquiring shares under the Plan for investment purposes, and not for resale, and that the shares cannot be resold or otherwise transferred except pursuant to
registration or unless, in the opinion of counsel for the Company, registration is not required. 

        Any
restrictions upon shares acquired upon exercise of an option pursuant to the Plan and the Stock Option Agreement shall be binding upon the optionee and his or her heirs, executors,
and administrators. Any stock certificate issued under the Plan which is subject to restrictions shall be endorsed so as to refer to the restrictions on transfer imposed by the Plan and by applicable
securities laws. 

ARTICLE X

EFFECTIVE DATE AND DURATION  

        The plan shall become effective as of February 15, 1996, and shall continue in effect until February 15, 2006, unless earlier terminated by the
Board of Directors pursuant to Article XI. 

ARTICLE XI

AMENDMENT OR TERMINATION OF THE PLAN  

        The Board of Directors of the Company may at any time terminate the Plan, or make such modifications of the Plan as it shall deem advisable, provided that the
provisions relating to timing of option grants, size of grants, and exercise price cannot be amended more than once in any six-month period. In addition, the Board may not terminate the
Plan or any options granted thereunder at the time of a merger or other acquisition of the Company, or within six months thereafter, without the consent of the optionees. No termination or amendment
of the Plan may, without the consent of the optionees to whom any options shall theretofore have been granted, 

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