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AMENDMENT TO PRIOR EMPLOYMENT AGREEMENTS

Employment Agreement Amendment

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Title: AMENDMENT TO PRIOR EMPLOYMENT AGREEMENTS
Date: 8/10/2009
Industry: Recreational Products     Sector: Consumer Cyclical

AMENDMENT TO PRIOR EMPLOYMENT AGREEMENTS, Parties: zap
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Exhibit 10.9

Amendment to Prior Employment Agreement dated August 6, 2009

 

 


 

ZAP

 

AMENDMENT TO PRIOR EMPLOYMENT AGREEMENTS

 

This amendment (the “ Amendment ”) is made by and between Steven Schneider (the “ Executive ”) and ZAP, a California corporation (the “ Company ” and together with the Executive hereinafter collectively referred to as the “ Parties ”) on August 6, 2009.

 

W I T N E S S E T H:

 

WHEREAS , the Parties previously entered into employment agreements or arrangements in writing, verbally or otherwise, including but not limited to that certain employment agreement, dated October 1, 2003, as amended or extended by the Company in writing, verbally or otherwise, including but not limited to any amendment or extension dated March 30, 2007 (all such agreements collectively referred to herein as the “ Agreements ”);

 

WHEREAS , according to the terms of the Agreements, the Executive is be entitled to receive compensation, including salary, bonuses, stock, stock options, warrants or other equity compensation, termination benefits, severance or any other compensation or benefits (together, “ Compensation ”);

 

WHEREAS , the Parties intend this Amendment to terminate and supersede any and all Agreements, including but not limited to any agreements or arrangements regarding Compensation, and for any and all Agreements to have no further force and effect;

 

NOW, THEREFORE , for good and valuable consideration, Executive and the Company agree that any and all prior agreements or arrangements between the Executive and the Company, including the Agreement, are hereby amended as follows:

 

1.     All Agreements between Executive and the Company are hereby terminated and shall have no further force and effect, and all such Agreements are hereby superseded and replaced by this Amendment.  The foregoing notwithstanding, any options, option agr


 
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