Document:

EX-10.7

 Exhibit 10.7 

ASTRONOVA, INC. 

NON-EMPLOYEE DIRECTOR 

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 2015 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.    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 Exhibit A (any such shares, “Unvested Shares”) and all rights therein shall immediately be transferred to the Company pursuant to Exhibit A hereto, 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 the Restricted Period (as defined in Exhibit A) shall immediately terminate. 

3.    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. 
 4.    Restrictions on Transfer of Unvested
Shares. 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.
 5.    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. 

6.    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.
 7.    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 11 of the Plan.

8.    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.

  
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 9.    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. 

10.    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. 

(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. 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Restricted Stock Agreement as of the
date first written above. 
  

			
	ASTRONOVA, INC.
		
	By:	 	 
	 Name:
 Title:
	 	
	
	 

  
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 EXHIBIT A 

Vesting Schedule 
 The restrictions
applicable to the Shares shall lapse and the Shares shall become “Vested Shares” on the earlier of (i) the date that is immediately prior to the occurrence of the next annual or special meeting in lieu of annual meeting of the shareholders
of the Company following the Grant Date and (ii) the one year anniversary of the Grant Date, such date the “Vesting Date”; provided, however, that the Holder must be employed by or providing service to the Company as of the applicable date
in order for vesting to occur. Notwithstanding the foregoing, the Grantee may not sell, transfer, pledge or otherwise encumber the Shares prior to the second anniversary of the Vesting Date. The period during which all or any portion of the
Shares is subject to restrictions shall be referred to as the “Restricted Period”.EX-10.8

 Exhibit 10.8 

ASTRONOVA, INC. 
 2015
EQUITY INCENTIVE PLAN 
 RESTRICTED STOCK UNIT AWARD AGREEMENT 

THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (the “Agreement”) is made and entered into as of
                     (the “Grant Date”) by and between AstroNova, Inc. (the “Company”) and
                     (the “Grantee”). Any capitalized terms used but not defined herein shall have the meanings ascribed to such
terms in the Plan (as defined herein). 
 WHEREAS, the Company has adopted the Company’s 2015 Equity Incentive Plan (the
“Plan”) pursuant to which Awards of Restricted Stock Units may be granted; and 
 WHEREAS, the Committee has determined
that it is in the best interests of the Company and its shareholders to grant the Award of Restricted Stock Units provided for herein. 

NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as follows: 

1.    Restricted Stock Units Awarded. Pursuant to Section 8 of the Plan, the Company hereby issues to
the Grantee on the Grant Date an award consisting of                      Restricted Stock Units (the “RSUs”). Each RSU
represents the right to receive one share of the Company’s common stock, $0.05 par value (the “Common Stock”), subject to the terms and conditions of this Agreement and the Plan, including the Grantee’s continued
employment by the Company or a Subsidiary through the applicable Vesting Date (as defined below) as provided in Section 2 hereof. 

2.    Vesting.

(a)    Subject to Sections 4 and 5, the Grantee shall become vested in the right to receive the RSUs in four (4) equal
annual installments in accordance with the following schedule (each a “Vesting Date”): 
  

					
	 Vesting Date
	  	Number of Shares Vesting on Date	 
		  			
		  			
		  			
		  			

 Except as provided in Section 5, if the Grantee has a termination from employment with the Company for any
reason, prior to the respective Vesting Date, the Grantee will forfeit the unvested RSUs. An employment relationship between the Company and the Grantee shall be deemed to exist during any period in which the Grantee is employed by the Company
or any Subsidiary of the Company. Whether authorized leave of absence, or absence on military or government service, shall constitute termination of the employment relationship between the Company and the Grantee shall be determined by the
Committee at the time thereof. 

  
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 (b)     Effect of Forfeiture. Neither the Company nor any Subsidiary
will have any further obligations to the Grantee under this Agreement to the extent any of the Grantee’s RSUs are forfeited. 

3.    Delivery of Stock Certificates. 

(a)    As soon as practicable after the Vesting Date of any RSUs, and consistent with Section 409A of the Code, the
Company shall issue and deliver to the Grantee, or the Grantee’s beneficiary or estate as the case may be, Common Stock representing the number of shares of Common Stock equal to the number of vested RSUs, shall be issued either (i) in
certificate form or (ii) in book-entry or electronic form, registered in the name of the Grantee. All certificates representing Common Stock shall contain the legend(s) referenced in Section 4 hereof. The number of shares delivered shall
be net of the number of shares withheld, if any, pursuant to Section 8. The Company shall not be required to deliver any fractional share of Common Stock, but will make a cash payment in lieu thereof equal to the Fair Market Value (determined as of
the applicable Vesting Date) of the fractional share to which the Grantee or the Grantee’s beneficiary or estate, as the case may be, is entitled to hereunder. No payment will be required from the Grantee upon the issuance or delivery of shares
of Common Stock except that any amount necessary to satisfy applicable federal, state or local tax requirements shall be withheld or paid promptly in accordance with Section 8. 

(b)    If the Grantee is deemed a “specified employee” within the meaning of Section 409A of the Code, as
determined by the Committee, at a time when the Grantee becomes eligible for settlement of the RSUs upon his “separation from service” within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated
or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (i) the date that is six months following the Grantee’s separation from service and (ii) the Grantee’s death. 

4.    Transfer Restrictions.

(a)    Absent prior written consent of the Committee, the Award granted hereunder to the Grantee may not be sold, assigned
transferred, pledged or otherwise encumbered, whether voluntarily or involuntarily, by operation of law or otherwise. 

(b)    Except for authorizing the Company to withhold shares of Common Stock from the shares of Common Stock otherwise
issuable or deliverable to the Grantee as a result of the vesting of the RSU, as permitted by Section 8(b)(ii) hereof, the Grantee may not sell, transfer, pledge or otherwise encumber more than fifty percent (50%) of the Common Stock issued upon
vesting of the RSUs unless and until the Grantee meets the ownership level of Common Stock specified for such Grantee 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, provided, however, such restrictions shall lapse upon the death or Disability (as defined in the Plan) of the Grantee. Any and all certificates representing shares of Common Stock issued hereunder shall have appropriate legends evidencing
such transfer restrictions. 

  
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 5.    Change In Control. 

(a)          Notwithstanding anything herein to the contrary, in the event that a Change in
Control (as defined in the Plan) occurs prior to the Final Vesting Date, then: 
  

	 	(i)	In the event that the Acquiring Corporation, in connection with the Change in Control, elects to assume the Company’s rights and obligations under any unvested RSUs or substitute for any of the unvested RSUs
substantially equivalent awards in accordance with Section 12.1 of the Plan, and, prior to the Final Vesting Date, (A) the Company or the Acquiring Corporation terminates Grantee’s employment for any reason other than Cause, death or Disability
or (B) the Grantee voluntarily terminates employment for Good Reason, any unvested RSUs will become vested as of the date of such termination; and 

  

	 	(ii)	In the event that the Acquiring Corporation elects not to assume the Company’s rights and obligations under any unvested RSUs or substitute for any of the unvested RSUs substantially equivalent awards in connection
with a Change in Control, any unvested RSUs will become vested as of the date immediately preceding the Change in Control Date. 

(b)           When used in this Section 5, the following terms have the meanings set forth
below: 
  

	 	(i)	“Change in Control Date” means the date on which a Change in Control is consummated. 

  

	 	(ii)	“Final Vesting Date” means the fourth anniversary of the Grant Date. 

  

	 	(iii)	“Good Reason” means (A) without the Grantee’s prior written consent, assignment to the Grantee of duties materially inconsistent in any respect with his position, authority, duties or
responsibilities, annual base salary or target bonus when compared with the same immediately prior to the Change in Control Date or if any change in the same is hereafter made in anticipation of a Change in Control or potential Change in Control,
when compared with the same immediately before such change; (B) without the Grantee’s prior written consent, reduction in the Grantee’s annual base salary, target bonus or benefits when compared with the same immediately prior to the
Change in Control Date, other than a reduction of fringe benefits required by law or applicable to all employees generally; or (C) assignment of the Grantee, without his prior written consent, to a place of business that is not within
twenty-five miles of the Grantee’s current place of business. Notwithstanding the foregoing, no such event shall constitute “Good Reason” unless (1) Grantee shall have given written notice of such event to the Company within
ninety (90) days after the initial occurrence, (2) the Company shall have failed to cure the condition constituting Good Reason within thirty (30) days after expiration of such cure period, and (3) Grantee terminates employment within thirty (30)
days after expiration of such cure period. 

  
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 6.     Rights as Shareholder. The Grantee shall not
have any rights of a shareholder of the Company holding shares of Common Stock, unless and until the RSUs vest and are settled by the issuance of such shares of Common Stock. Notwithstanding the foregoing, with respect to any vested RSUs, the
Grantee shall have the right to participate in any dividend on the Common Stock that has a record date on or after the Vesting Date for such RSUs. 

7.    Adjustments. If any change is made to the outstanding Common Stock or the
capital structure of the Company, if required, the RSUs shall be adjusted as contemplated by Section 11 of the Plan. 

8.    Tax Liability and Withholding. 

(a)    The Grantee acknowledges and agrees that the Company and its Subsidiaries have the right to deduct from payments of
any kind otherwise due to Grantee any federal, state or local taxes of any kind required by law to be withheld with respect to the grant or vesting of RSUs hereunder. 

(b)     The Committee may permit the Grantee to satisfy any federal, state or local tax withholding obligation by any of
the following means, or by a combination of such means: 
  

	 	(i)	tendering a cash payment. 

  

	 	(ii)	authorizing the Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable or deliverable to the Grantee as a result of the vesting of the RSUs; provided, however, that no
shares of Common Stock shall be withheld with a value exceeding the minimum amount of tax required to be withheld by law. 

  

	 	(iii)	delivering to the Company previously owned and unencumbered shares of Common Stock. 

 Any shares of Common
Stock withheld in accordance with this Section 8 shall be treated as if issued and sold by the Grantee when determining the share retention requirements applicable to the Grantee under the share ownership and/or retention requirements of this
Agreement (including Section 4 hereof) and/ or guidelines of the Company. 
 (c)    Notwithstanding any action the
Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Grantee’s
responsibility and the Company (i) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant, vesting or settlement of the RSUs or the subsequent sale of any shares; and (ii) does not
commit to structure the RSUs to reduce or eliminate the Grantee’s liability for Tax-Related Items. 

  
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 9.    Compliance with Law. The
issuance and transfer of shares of Common Stock shall be subject to compliance by the Company and the Grantee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which
the Company’s shares of Common Stock may be listed. No shares of Common Stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to
the satisfaction of the Company and its counsel. 
 10.    Acceptance. The Grantee hereby
acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the RSUs subject to all of the terms and conditions of the Plan and this Agreement. The Grantee
acknowledges that there may be adverse tax consequences upon the vesting or settlement of the RSUs or disposition of the underlying shares and that the Grantee has been advised to consult a tax advisor prior to such vesting, settlement or
disposition. 
 11.    Notices. Any notice hereunder to the Company shall be addressed
to it at its office, 600 East Greenwich Avenue, West Warwick, Rhode Island 02893, and any notice hereunder to the Grantee shall be addressed to the Grantee at the address reflected on the records of the Company, subject to the right of either party
to designate at any time hereafter in writing some other address. 

12.    Interpretation. Any dispute regarding the interpretation of this Agreement
shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company. 

13.    Rhode Island Law to Govern. This Agreement shall be construed and administered in
accordance with and governed by the laws of the State of Rhode Island. 
 14.    Successors and
Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein,
this Agreement will be binding upon the Grantee and the Grantee’s beneficiaries, executors, administrators and the person(s) to whom the RSUs may be transferred by will or the laws of descent or distribution. 

15.    Discretionary Nature of Plan. The Plan is discretionary and may be amended, cancelled or
terminated by the Company at any time, in its discretion. The grant of the RSUs in this Agreement does not create any contractual right or other right to receive any RSUs or other Awards in the future. Future Awards, if any, will be at the sole
discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee’s employment with the Company. 

16.     Amendment. The Committee has the right to amend, alter, suspend, discontinue or cancel the
RSUs, prospectively or retroactively; provided, that, no such amendment shall adversely affect the Grantee’s material rights under this Agreement without the Grantee’s consent. 

  
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 17.    Section 409A. This Agreement is intended to
comply with Section 409A of the Code or an exemption thereunder and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A of the Code. Notwithstanding
the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event shall the Company be liable for all or any portion of any taxes, penalties,
interest or other expenses that may be incurred by the Grantee on account of non-compliance with Section 409A of the Code. 
 18.
    No Impact on Other Benefits. The value of the Grantee’s RSUs is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or
similar employee benefit. 
 19.     Employment not Guaranteed. This Agreement shall not
create any right in the Grantee to continue in the Company employ for any specific length of time, nor does it create any other rights in the Grantee or obligations on the part of the Company, except those set forth in this Agreement. 

20.     Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed
an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic
means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature. 

[Remainder of Page Intentionally Left Blank] 

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

			
	ASTRONOVA, INC.
		
	By:	 	 
	 Name:
 Title:
	 	
	
	 
	Grantee

  
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