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Exhibit
10.9
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Amendment to
Prior Employment Agreement dated August 6, 2009
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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hereby superseded and replaced by this Amendment.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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