This excerpt taken from the ZBRA 8-K filed May 15, 2006.
Types of Awards under the 2006 Plan
The 2006 Plan authorizes the Committee to grant awards, individually or collectively, to participants in any of the following forms, subject to such terms, conditions, and provisions as the Committee may determine to be necessary or desirable: incentive stock options (ISOs); nonqualified stock options; stock appreciation rights (SARs); restricted stock; performance shares; performance units; and performance awards.
Stock options entitle the option holder to purchase shares at a price established by the Committee. SARs entitle the SAR holder to receive cash or a number of shares equal to the fair market value of shares on the date of exercise over the exercise price. The Committee will determine the exercise price of an option and an SAR at the date of grant, which price may be equal to or greater, but not less, than the fair market value of the underlying shares on the date of grant.
ISOs may only be granted to a participant who is an employee at the date of grant. ISOs granted to an employee who owns, at the date of grant, stock representing more than 10% of the total combined voting power of all classes of stock of the Company or its subsidiaries (a 10% Stockholder), must have an exercise price per share for the shares subject to such ISO of at least 110% of the fair market value per share on the date of grant. In addition, the total fair market value of shares subject to ISOs which are exercisable for the first time by a participant in a given calendar year will not exceed $100,000, valued as of the ISOs grant date.
Unless the Committee decides otherwise, the participant may vote restricted shares granted to a participant and may receive dividends before such shares have vested. Except as the Committee may at any time provide, upon termination of the participants employment with the Company, unvested restricted stock granted to such participant will be forfeited.