ZBRA » Topics » Under the 2007 Stock Option Award Agreements for Named Officers other than the CEO

This excerpt taken from the ZBRA DEF 14A filed Apr 22, 2008.
Under the 2007 Stock Option Award Agreements for Named Officers other than the CEO.

Cause” means, as determined by the Company, in its sole discretion, termination of the Named Officer’s employment with the Company or any subsidiary of the Company because of:

            (1)       the Named Officer’s material breach of the stock option agreement or of any other agreement to which the Named Officer and the Company are parties, as determined by the Compensation Committee in good faith; or
 
(2) material violation of Company policy, regardless of whether within or outside of his or her authority; or
 
(3) willful or intentional misconduct; gross negligence; or dishonest, fraudulent, or unethical behavior; or other conduct involving serious moral turpitude, by the Named Officer in the performance of his or her duties; or
 
(4) dishonesty, theft or conviction of any crime or offense involving money or property of the Company or any of its subsidiaries; or
 
(5) breach of any fiduciary duty owing to the Company or any subsidiary of the Company; or
 
(6) unauthorized disclosure of confidential Information or unauthorized dissemination of Company materials; or
 
(7) conduct that is, or could reasonably be expected to be, materially harmful to the Company or any of its subsidiaries or affiliates, as determined by the Compensation Committee in good faith.

Change in control” has the meaning given to it under the 2006 Zebra Technologies Corporation Incentive Compensation Plan.

Disability” has the meaning given to it under the 2006 Zebra Technologies Corporation Incentive Compensation Plan.

Retirement” means the Named Officer’s voluntary termination of employment with the Company and/or any of its subsidiaries after attaining either (1) age 55 with 10 complete years of service or more with the Company and/or any of its subsidiaries; or (2) age 65.

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