Amendment to Employment Agreement between Zebra Technologies Corporation and Executive Officer

Contract Categories: Human Resources › Employment Agreements
Summary

This document is an amendment to an existing employment agreement between Zebra Technologies Corporation and an executive officer. It updates the terms regarding post-termination payments, specifying that the executive must sign and return a required agreement within a set timeframe (no later than 60 days after termination) to receive payments. Payments will only be made after the agreement is received and any revocation period has expired, with all due payments made in a lump sum shortly after. This amendment ensures compliance with timing and procedural requirements for severance payments.

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EX-10.1 2 dex101.htm FORM OF AMENDMENT TO EMPLOYMENT AGREEMENT Form of Amendment to Employment Agreement

 

Exhibit 10.1

FORM OF AMENDMENT TO EMPLOYMENT AGREEMENT

THE EMPLOYMENT AGREEMENT (the “Agreement”), made and entered into as of <<Insert Date>> by and between Zebra Technologies Corporation, a Delaware corporation (the “Employer”), and <<Insert Executive Officer Name>> (the “Executive”), is hereby amended, effective as of the date this amendment has been executed by both the Employer and the Executive, as follows:

 

  1. The following sentences should be added immediately following the second sentence of subparagraph 7B(3) of the Agreement:

“Such agreement shall be provided to the Executive prior to or promptly following his termination of employment, and must be executed by the Executive and returned to the Employer within the time prescribed in such agreement (but in no event later than the sixtieth (60th) day following termination of employment). No payments shall be made pursuant to Paragraph 7B unless and until the Employer shall have received such agreement and any period during which the Executive may revoke such agreement shall have expired without revocation. Any payments which the Executive would have otherwise received prior to the end of such revocation period shall be paid, in a single lump sum without interest, as soon as practical after the revocation period expires, but in no event later than March 15 of the year following the year in which the termination of employment occurs.”

IN WITNESS WHEREOF, the parties have set their signatures on the date set forth below.

 

ZEBRA TECHNOLOGIES CORPORATION:   EXECUTIVE:
By:  

 

     By:    

 

         
         

Date signed:

  

 

    

Date signed:

    

 

Confidential Section 9 – Compensation Committee November 2010 – Executive Employment Agreement Amendment (IRS 409A)