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EMPLOYMENT CONTRACT

Executive Employment Agreement

EMPLOYMENT CONTRACT | Document Parties: ZAP | Renay Cude You are currently viewing:
This Executive Employment Agreement involves

ZAP | Renay Cude

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Title: EMPLOYMENT CONTRACT
Governing Law: California     Date: 2/3/2006
Industry: Recreational Products     Sector: Consumer Cyclical

EMPLOYMENT CONTRACT, Parties: zap , renay cude
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Exhibit 10.30

EMPLOYMENT CONTRACT

            ZAP, a California Corporation, located at 501 Fourth Street, Santa Rosa, California 95401 (“Employer”), and Renay Cude, California (“Employee”), in consideration of the mutual promises made herein, agree as follows:

ARTICLE I.  TERM OF EMPLOYMENT

Section 1.01.  Specified Period   Employer employs Employee and Employee accepts employment with Employer for a period of five years beginning  on October 1, 2003 and terminating on October 1, 2008.

Section 1.02.  Automatic Renewal   This agreement shall be renewed automatically for succeeding terms of five (5) years unless either party gives notice to the other at least sixty (60) days prior to the expiration of any term of his intention not to renew.

Section 1.03.  “Employment Term” Defined   “Employment term” refers to the entire period of employment of Employee by Employer, whether for the periods provided above, or whether terminated earlier as hereinafter provided or extended by mutual agreement between Employer and Employee.

ARTICLE 2.  DUTIES AND OBLIGATIONS OF EMPLOYEE

Section 2.01.  General Duties   Employee shall serve as Corporate Secretary of ZAP.  In her capacity as Corporate Secretary of ZAP, Employee shall do and perform all services, acts, or things necessary or advisable to manage and conduct the business of Employer, subject at all times to the policies set by Employer’s Board of Directors, and to the consent of the Board when required by the terms of this contract.

Section 2.02  Devotion to Employer’s Business   Employee shall devote her entire productive time, ability and attention to the business of Employer during the term of this contract. This provision is hereby waived by the Company to allow Ms. Cude to hold the aforementioned positions at Rotoblock, AutoDistributors, ZAP Rental Outlets, Voltage Vehicles, and ZAP Manufacturing simultaneously with the positions held by such persons at the Company.

Section 2.03  Matters Requiring Consent of the Board of Directors   Employee shall not, without specific approval of Employer’s Board of Directors, seek other employment such as would require Employee to engage in other business duties or pursuits, or render any services of a business, commercial or professional nature to any other person or organization, whether for compensation or otherwise.   However, the expenditure of a reasonable amount of time for charitable activities shall not be deemed a breach of this agreement if those activities do not materially interfere with the services required under this agreement, and shall not require the

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prior consent of Employer’s Board of Directors. This provision is hereby waived by the Company to allow Ms. Cude to hold the aforementioned positions at Rotoblock, AutoDistributors, ZAP Rental Outlets, Voltage Vehicles, and ZAP Manufacturing simultaneously with the positions held by such persons at the Company.

Section 2.04  Competitive Activities   During the term of this contract Employee shall not, directly or indirectly, either as an employee, employer, consultant, agent, principal, partner, stockholder, corporate officer, director, or in any other individual or representative capacity, engage or participate in any business that is in competition in any manner whatsoever with the business of Employer .

Section 2.05  Trade Secrets

            (a)        The parties acknowledge and agree that during the term of this agreement and in the course of the discharge of his duties hereunder, Employee shall have access to and become acquainted with financial, personnel, sales, scientific, technical and other information regarding formulas, patterns, compilations, programs, devices, methods, techniques, operations, plans and processes that are owned by Employer, actually or potentially used in the operation of Employer’s business, or obtained from third parties under an agreement of confidentiality, and that such information constitutes Employer’s “trade secrets.”

            (b)        Employee specifically agrees that she shall not misuse, misappropriate, or disclose in writing, orally or by electronic means, any trade secrets, directly or indirectly, to any other person or use them in any way, either during the term of this agreement or at any other time thereafter, except as required in the course of her employment.

            (c)        Employee acknowledges and agrees that the sale or unauthorized use or disclosure in writing, orally or by electronic means, of any of Employer’s trade secrets obtained by Employee during the course of his employment under this agreement, including information concerning Employer’s actual or potential work, services, or products, the facts that any such work, services, or products are planned, under consideration, or in production, as well as any descriptions thereof, constitute unfair competition.  Employee promises and agrees not to engage in any unfair competition with Employer, either during the term of this agreement or at any other time thereafter.

            (d)        Employee further agrees that all files, records, documents, drawings, specifications, equipment, software, and similar items whether maintained in hard copy or online relating to Employer’s business, whether prepared by Employee or others, are and shall remain exclusively the property of Employer and that they shall be removed from the premises or, if kept on-line, from the computer system of Employer only with the express prior written consent of Employer’s Board of Directors.

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ARTICLE 3.  OBLIGATIONS OF EMPLOYEE

Section 3.01.  General Description    Employer shall provide Employee with the compensation, incentives, benefits, and business expense reimbursement specified elsewhere in this agreement.

Section 3.02.  Office and Staff   Employer shall provide Employee with office space and administrative support suitable to Employee’s position and adequate for the performance of her duties.

Section 3.03.  Indemnification of Losses of Employee    In the absence of willful misconduct or illegality, Employer shall indemnify Employee for all losses sustained by Employee in direct consequence of the discharge of his duties in good faith on Employer’s behalf.

ARTICLE 4.  COMPENSATION OF EMPLOYEE

Section 4.01.  Annual Salary   As compensation for the services to be performed hereunder, Employee shall receive a salary and benefits and options equal to the highest paid employee, with a minimum of $36,000 per year,  at ZAP, excluding commissions.

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