Employment Offer Memorandum between ZAP and Amos Kazzaz for Chief Operating Officer Position

Contract Categories: Human Resources › Employment Agreements
Summary

This memorandum outlines the terms of employment for Amos Kazzaz as Chief Operating Officer at ZAP, effective March 26, 2007. Key terms include a $120,000 base salary, a signing bonus of 100,000 shares (subject to a 90-day condition), 1% ESOP stock options vesting over three years, company car, housing, relocation costs, full benefits, and a review for promotion to president in six months. An employment contract will follow after a trial period. Mr. Kazzaz is expected to start on April 16, 2007.

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EX-10.1 2 exh10-1.htm ZAP MEMORANDUM, DATED MARCH 28, 2007, FROM STEVEN M. SCHNEIDER TO AMOS KAZZAZ REGARDING MR. KAZZAZ'S EMPLOYMENT ENGAGEMENT WITH ZAP
Exhibit 10.1
 

501 4th Street
Santa Rosa, CA 95401
707 ###-###-####
www.zapworld.com 
ZAP! Memo
 
ZAP Memo
 
To: Mr. Amos Kazzaz
 
From: Steven M. Schneider, Chief Executive Officer
 
CC: ZAP board of directors
 
Date: March 30, 2007
 
Re: Employment Engagement with ZAP
 
 
Dear Amos,
 
It is with great pleasure that I welcome you aboard with your new position at ZAP as our Chief Operating Officer. The agreed terms of your employment with ZAP will be outlined as the following:
 
1.  
Title as COO with a review for president in approximately 6 mos
 
2.  
Base Salary of $120,000
 
3.  
Signing bonus of 100,000 shares of ZAP common stock with no vesting period ( shares are to be returned if you leave on your own with in 90 days of your first day in office and likewise are yours to keep should ZAP elect to terminate our relationship with in that same period)
 
4.  
Employment contract to follow after trial period.
 
5.  
1% ESOP stock options that fully vest over 3 years starting from March 26th 2007
 
6.  
Company Car
 
7.  
Temporary company housing
 
8.  
Reasonable relocation costs
 
9.  
Full D&O Coverage as provided to all current officers and directors
 
10.  
Full 401k participation
 
11.  
3 weeks paid vacation plus all Company policy holidays
 
12.  
Company Health insurance (there may be a 90 period I will verify tomorrow)
 
13.  
Temporary commuting expenses.
 

Page 1
 
Exhibit 10.1
 
 
Our agreement date will be as of March 26, 2007 and we will be expecting you in the office on April 16th 2007
 
Myself and the whole ZAP team look forward to your being part of the ZAP family. I congratulate you on your decision to be part of one of the most exciting emerging markets of the 21st century! Welcome aboard.
 
Yours truly,
 
 
 
Steven M. Schneider
 
Chief Executive Officer
 
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