EXHIBIT 10.2


                        BALDWIN TECHNOLOGY COMPANY, INC.
                          2005 EQUITY COMPENSATION PLAN

                 [FORM OF] Restricted Stock Unit Award Agreement


This Award Agreement evidences the grant of restricted stock units, whereby each
restricted stock unit represents the right to receive one Share of stock at the
time specified below. The restricted stock units are granted pursuant to the
2005 Equity Compensation Plan (the "Plan") of Baldwin Technology Company, Inc.
(the "Company") to the individual whose name appears below (the "Grantee"),
pursuant to the provisions of the Plan and on the following express terms and
conditions (capitalized terms not otherwise defined herein shall have the
meaning ascribed thereto in the Plan):

1.   Name of Grantee:                           [First Name] [Last Name]

2.   Number of Restricted Stock Units:          [Amount]

3.   Grant Date:                                [Date]

4.   Vesting Dates: As provided in Section 4.6 of the Plan, the restricted stock
     units shall become vested in three equal annual installments commencing on
     the first anniversary date of the Grant Date, subject to accelerated
     vesting upon a Change in Control.

5.   Delivery Date: On each vesting date, Shares of stock equal to the number of
     restricted stock units that vest on such vesting date will be delivered to
     the Grantee, provided the Grantee continues to serve as a Director to the
     Company or remains employed by the Company or its subsidiaries on such
     date.

6.   Rights as Stockholder. Prior to the issuance and delivery of Shares, the
     Grantee shall have no rights as a stockholder with respect to the
     restricted stock units.

7.   Termination: Upon the termination of the Grantee's employment or
     directorship for any reason prior to a vesting date, the restricted stock
     units will be forfeited and the Grantee shall have no further right to the
     delivery of any Shares of stock.

A copy of the Plan, and other materials required to be delivered or made
available to the Grantee, will be delivered or made available electronically,
provided that upon request of the Grantee, the Company will deliver to the
Grantee paper copies of such materials.



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BALDWIN TECHNOLOGY COMPANY, INC.                Agreed to and Accepted by:



By:
   -----------------------------                -----------------------------
   Gerald A. Nathe                              [First Name] [Last Name]
   Chairman and CEO










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