DREXLER TECHNOLOGY CORPORATION
1991 STOCK OPTION PLAN
1. Purposes. Drexler Technology Corporation (hereinafter called the "Company") has adopted this 1991 Stock
Option Plan (this "Plan") to enhance the concern of the Company's key employees, officers, directors and
consultants in the success of the Company by giving them an ownership interest in the Company, and to give them
an incentive to continue their service to the Company.
2. Stock Subject to Plan. The Company shall reserve 2,370,000 shares of its $0.01 par value Common Stock
(hereinafter called the "Shares") to be issued upon exercise of the options which may be granted from time to time
under this Plan. In addition, those of the shares reserved for issuance under the Company's 1986 Stock Option
Plan on March 1, 1991, (i) which were not then subject to outstanding options or (ii) which were then subject to
outstanding options which subsequently lapse, shall also be reserved for issuance pursuant to the exercise of
options granted from time to time under this Plan. As it may from time to time determine, the Board of Directors
of the Company (hereinafter called the "Board") may authorize that the Shares may be comprised, in whole or in
part, of authorized but unissued shares of the Common Stock of the Company or of issued shares which have
been reacquired. If options granted under this Plan terminate or expire before being exercised in whole or in part,
the Shares subject to those options which have not been issued may be subjected to subsequent options granted
under this Plan.
3. Administration of this Plan. The Board shall appoint a Stock Option Committee (hereinafter called the
"Committee") which shall consist of not less than two (2) members of the Board, and, at the election of the Board
or if the Board consists of less than two directors, may consist of the entire Board, to administer this Plan.
Subject to the express provisions of this Plan and guidelines which may be adopted from time to time by the