This excerpt taken from the ZBRA 8-K filed May 29, 2008.
Stock Option Grants to Continuing Non-Employee Directors
On May 22, 2008, the Committee approved the grant of a non-qualified stock option to each of the Companys non-employee directors that were directors of the Company prior to the Annual Meeting and continued to serve as directors after the Annual Meeting (i.e., Ross W. Manire, Dr. Robert J. Potter and Michael A. Smith). Each such stock option has a ten-year term, has an exercise price equal to the closing price of the Common Stock on the date of grant, May 22, 2008, is exercisable for 2,000 shares of Common Stock and vests in full on the first anniversary of the grant date, subject to the directors continued service as a director on such vesting date.
Such stock options were granted pursuant to the form of One Year Director Option Agreement. The foregoing description of such stock options is qualified in its entirety by the terms of such form agreement, a copy of which is attached hereto as Exhibit 10.4 and incorporated herein by reference.