Modification Agreement to Severance Agreement Between Zoom Technologies, Inc., Zoom Telephonics, Inc., and Employee
Zoom Technologies, Inc. and Zoom Telephonics, Inc. (collectively, Zoom) and the employee agree that any stock options granted to the employee by Zoom in 2009 will not be subject to accelerated vesting, regardless of any previous agreements. This modification applies to all 2009 options, whether already issued or to be issued, and overrides any prior terms allowing accelerated vesting. The agreement is signed by Zoom's CEO and the employee.
EXHIBIT 10.1
Modification Agreement For Zoom Employee’s Severance Agreement
Zoom Technologies, Inc., Zoom Telephonics, Inc. (together, “Zoom”) and the undersigned employee hereby agree that no Zoom Technologies option granted from January 1, 2009 to December 31, 2009 is or will be subject to accelerated vesting notwithstanding the provisions of any prior agreement entered into between Zoom and the undersigned employee. This agreement applies to any options issued in 2009, no matter whether they’ve been issued prior to the date of this agreement or not. In no event will accelerated vesting occur for such options.
Agreed:
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| Frank Manning, Zoom’s CEO & President |
Employee Name (print) |
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Signature |
| Signature |
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Date |
| Date |
