Exhibit 10.1
 

501 4th Street
Santa Rosa, CA 95401
707 525-8658
www.zapworld.com 
ZAP! Memo

 
ZAP Memo
 
To: Mr. Amos Kazzaz
 
From: Steven M. Schneider, Chief Executive Officer
 
CC: ZAP board of directors
 
Date: March 30, 2007
 
Re: Employment Engagement with ZAP
 

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Dear Amos,
 
It is with great pleasure that I welcome you aboard with your new position at
ZAP as our Chief Operating Officer. The agreed terms of your employment with ZAP
will be outlined as the following:
 

1.  
Title as COO with a review for president in approximately 6 mos

 

2.  
Base Salary of $120,000

 

3.  
Signing bonus of 100,000 shares of ZAP common stock with no vesting period (
shares are to be returned if you leave on your own with in 90 days of your first
day in office and likewise are yours to keep should ZAP elect to terminate our
relationship with in that same period)

 

4.  
Employment contract to follow after trial period.

 

5.  
1% ESOP stock options that fully vest over 3 years starting from March 26th 2007

 

6.  
Company Car

 

7.  
Temporary company housing

 

8.  
Reasonable relocation costs

 

9.  
Full D&O Coverage as provided to all current officers and directors

 

10.  
Full 401k participation

 

11.  
3 weeks paid vacation plus all Company policy holidays

 

12.  
Company Health insurance (there may be a 90 period I will verify tomorrow)

 

13.  
Temporary commuting expenses.

 

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Exhibit 10.1
 
 
Our agreement date will be as of March 26, 2007 and we will be expecting you in
the office on April 16th 2007
 
Myself and the whole ZAP team look forward to your being part of the ZAP family.
I congratulate you on your decision to be part of one of the most exciting
emerging markets of the 21st century! Welcome aboard.
 
Yours truly,
 
 
 
Steven M. Schneider
 
Chief Executive Officer
 
 [LOGO]
 

 

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