Document:

EXHIBIT
      10.3

    

    CHANGE
      OF CONTROL AND SEVERANCE AGREEMENT BETWEEN THE COMPANY AND ROBERT A. CRIST
      DATED
      AS OF 4/27/07

     

    This
      agreement is made
      as
      of this date
      of
      __4/27/2007  by
      and
between 
      Zoom
      Technologies, Inc. (the
      “Company”), Zoom
      Telephonics, Inc.
      (“Zoom”),
      and
      Robert A. Crist (“Zoom
      ExecutiveSenior
      Manager”). 

    

    This
      agreement specifies the
      entire agreement between the Company, Zoom and the Zoom Executive regarding
      severance pay
      and
      acceleration of stock
      options.
      This agreement supercedes other agreements, if any, between the
      Company or Zoom
      and
      the named Zoom
      Executive
      that relate
      to
severance
      pay
      or
      acceleration of stock
      options.

    

    
      	1.	
              In
                the event of a “change
                of control” (as
                defined in Section 4 below) or
                liquidation
                of
                the Company,
                all issued and outstanding stock
                options
                issued to the Zoom
                Executive
                after December 7, 2006 will become
                immediately vested,
                with the right to be exercised at the grant price upon change of
                control. 

            

    

     

    
      	2.	
              The
                Zoom
                Executive will receive 6 months base
                salary
                as severance pay
                if:
                

            

    

     

    
      	(i)	
              the
                Zoom Executive is terminated without “cause”
                (as defined in Section 4 below)
                within 6 months after
                a change
                of control; or 

            

    

     

    
      	(ii)	
              the
                Zoom
                Executive’s job responsibilities, reporting
                status,
                or compensation
                are
                materially
                diminished after change of control (including but not limited to
                no longer
                reporting to as senior an executive position of the acquiring company)
                and
                the Zoom
                Executive leaves the acquiring company within 6 months after
                the change
                of control; or 

            

    

     

    
      	(iii)	
              the
                Company
                is
                liquidated.

            

    

    

    
      	3.	
              Zoom
                has the right to terminate the Zoom Executive’s employment “at
                will”.
                In the event the 
                Zoom Executive’s employment is
                terminated by Zoom for any
                reason
                other than for
                cause, a
                change of control
                or
                liquidation of the Company,
                then
                (i) all
                outstanding stock
                options
                issued to
                the Zoom
                Executive after
                December 7, 2006 will become
                immediately vested
                and will be exercisable for
                up
                to 30 days after termination.;
                and (ii) Zoom
                will pay severance
                to
                the Zoom
                Executive in
                an amount equal to the
                greater of either a) 3 months base
                salary,
                or b) a
                number of weeks of base salary equal to the
                number of full years employed by Zoom divided by
                2.

            

    

    

    
      	4.	
              For
                the purpose of this agreement, “cause”
                shall mean (i) deliberate dishonesty, illegal or unethical behavior
                or
                other willful behavior detrimental to the best interest of the
                Company
                or
                its subsidiaries;
                (ii) conduct by the Zoom
                Executive constituting
                an act of moral turpitude; (iii) willful disloyalty to the Company
                or
                its subsidiaries or
                refusal or failure of the Zoom
                Executive to
                obey the directions of the President or Board of
                Directors
                of
                the Company or its subsidiaries;
                (iv) incompetent performance or substantial or continuing inattention
                to
                or neglect of duties and responsibilities, provided that the Zoom
                Executive will
                be notified in writing of such deficiencies and given a period of
                60 days
                to correct them. For
                purposes hereof, “change of control" shall mean: (A) any merger,
                consolidation, share exchange, business combination or other similar
                transaction in which the shareholders of the Company would own less
                than
                50% of the surviving entity following the consummation thereof; (B)
                any
                sale, lease, exchange, transfer or other disposition of 50% or more
                of the
                assets of the Company and its subsidiaries, taken as a whole, in
                a single
                transaction or series of transactions; or (C) the acquisition by
                a person
                or entity, or any “group” (as such term is defined under Section 13(d) of
                the Securities Exchange Act of 1934) of beneficial ownership of 50%
                or
                more of the Stock whether by tender offer, exchange offer or
                otherwise.

            

    

     

    [Signature
      Page Follows on Next Page]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Agreed:

    
       

      
        	 	 	 	 
	/s/
                Robert A.
                Crist	 	 	/s/
                Frank B.
                Manning
	
                
Zoom
                Executive
                Signature	 	 	
                
Signature
                - President
                or Executive VP
                of
                Zoom and the Company
	
              	 	 	
              

      

       

      
        	Robert
                A. Crist	 	 	Frank
                B. Manning
	
                
Zoom
                Executive
                Name (print)	 	 	
                
Name
                (print)
	
              	 	 	
              
	4/27/2007	 	 	5/7/2007
	Date	 	 	DateEXHIBIT
      10.4

    
       

    

    CHANGE
      OF CONTROL AND SEVERANCE AGREEMENT BETWEEN THE COMPANY AND DEENA RANDALL DATED
      AS OF 4/27/07

     

    This
      agreement is made
      as
      of this date
      of
      __4/27/2007  by
      and
between  
      Zoom
      Technologies, Inc. (the
      “Company”), Zoom
      Telephonics, Inc.
      (“Zoom”),
      and
      Deena Randall (“Zoom
      Executive”).

     

    This
      agreement specifies the
      entire agreement between the Company, Zoom and the Zoom Executive regarding
      severance pay
      and
      acceleration of stock
      options.
      This agreement supercedes other agreements, if any, between the
      Company or Zoom
      and
      the named Zoom
      Executive
      that relate
      to
severance
      pay
      or
      acceleration of stock
      options.

    

    
      	1.	
              In
                the event of a “change
                of control” (as
                defined in Section 4 below) or
                liquidation
                of
                the Company,
                all issued and outstanding stock
                options
                issued to the Zoom
                Executive
                after December 7, 2006 will become
                immediately vested,
                with the right to be exercised at the grant price upon change of
                control. 

            

    

     

    
      	2.	
              The
                Zoom
                Executive will receive 6 months base
                salary
                as severance pay
                if:

            

    

    

    
      	(i)	
              the
                Zoom Executive is terminated without “cause”
                (as defined in Section 4 below)
                within 6 months after
                a change
                of control; or 

            

    

     

    
      	(ii)	
              the
                Zoom
                Executive’s job responsibilities, reporting
                status,
                or compensation
                are
                materially
                diminished after change of control (including but not limited to
                no longer
                reporting to as senior an executive position of the acquiring company)
                and
                the Zoom
                Executive leaves the acquiring company within 6 months after
                the change
                of control; or 

            

    

     

    
      	(iii)	
              the
                Company
                is
                liquidated.

            

    

    

    
      	3.	
              Zoom
                has the right to terminate the Zoom Executive’s employment “at
                will”.
                In the event the 
                Zoom Executive’s employment is
                terminated by Zoom for any
                reason
                other than for
                cause, a
                change of control
                or
                liquidation of the Company,
                then
                (i) all
                outstanding stock
                options
                issued to
                the Zoom
                Executive after
                December 7, 2006 will become
                immediately vested
                and will be exercisable for
                up
                to 30 days after termination.;
                and (ii) Zoom
                will pay severance
                to
                the Zoom
                Executive in
                an amount equal to the
                greater of either a) 3 months base
                salary,
                or b) a
                number of weeks of base salary equal to is
                the
                number of full years employed by Zoom divided by
                2.

            

    

    

    
      	4.	
              For
                the purpose of this agreement, “cause”
                shall mean (i) deliberate dishonesty, illegal or unethical behavior
                or
                other willful behavior detrimental to the best interest of the
                Company
                or
                its subsidiaries;
                (ii) conduct by the Zoom
                Executive constituting
                an act of moral turpitude; (iii) willful disloyalty to the Company
                or
                its subsidiaries or
                refusal or failure of the Zoom
                Executive to
                obey the directions of the President or Board of
                Directors
                of
                the Company or its subsidiaries;
                (iv) incompetent performance or substantial or continuing inattention
                to
                or neglect of duties and responsibilities, provided that the Zoom
                Executive will
                be notified in writing of such deficiencies and given a period of
                60 days
                to correct them. For
                purposes hereof, “change of control" shall mean: (A) any merger,
                consolidation, share exchange, business combination or other similar
                transaction in which the shareholders of the Company would own less
                than
                50% of the surviving entity following the consummation thereof; (B)
                any
                sale, lease, exchange, transfer or other disposition of 50% or more
                of the
                assets of the Company and its subsidiaries, taken as a whole, in
                a single
                transaction or series of transactions; or (C) the acquisition by
                a person
                or entity, or any “group” (as such term is defined under Section 13(d) of
                the Securities Exchange Act of 1934) of beneficial ownership of 50%
                or
                more of the Stock whether by tender offer, exchange offer or
                otherwise.

            

    

     

    [Signature
      Page Follows on Next Page]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Agreed:

     

    
      
        
          	 	 	 	 
	/s/
                  Deena
                  Randall	 	 	/s/
                  Frank B.
                  Manning
	
                  
Zoom
                  Executive
                  Signature	 	 	
                  
Signature
                  - President
                  or Executive VP
                  of
                  Zoom and the Company
	
                	 	 	
                

        

         

        
          	Deena
                  Randall	 	 	Frank
                  B. Manning
	
                  
Zoom
                  Executive
                  Name (print)	 	 	
                  
Name
                  (print)
	
                	 	 	
                
	4/27/2007	 	 	5/7/2007
	Date	 	 	Date

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