Document:

Exhibit 10.1

 

STOCK
OPTION AGREEMENT

 

THIS STOCK OPTION AGREEMENT dated as of                                  (“Grant
Date”), is between ZEBRA TECHNOLOGIES CORPORATION, a Delaware corporation (the “Company”),
and                                  (the
“Participant”).

 

WHEREAS, the Company
desires, by affording the Participant an opportunity to purchase shares of the
Company’s Class A Common Stock, par value $.01 per share (the “Common
Stock”), as hereinafter provided, to carry out the purposes of the ZEBRA TECHNOLOGIES
CORPORATION 1997 STOCK OPTION PLAN (the “Plan”); and

 

WHEREAS, the
Committee has duly made all determinations necessary or appropriate to the
grants hereunder;

 

NOW, THEREFORE, in
consideration of the premises and the mutual covenants hereinafter set forth
and for other good and valuable consideration, receipt of which is hereby
acknowledged, the parties hereto have agreed, and do hereby agree, as follows:

 

1.             Grant of Option,
Option Price and Term.

 

(a)           The
Company hereby grants to the Participant, as a matter of separate agreement and
not in lieu of salary or any other compensation for services, the right and
option (the “Option”) to purchase                           
shares of the Common Stock of the Company (“Option Shares”) on the terms and
conditions herein set forth.

(b)           For each of the Option Shares purchased, the Participant shall pay to the
Company $                      
per share (the “Option Price”). 
Accordingly, the aggregate Option Price to exercise all of the Option is
$                         .

(c)           The
term of this Option shall be a period of ten (10) years from the Grant
Date (the “Option Period”).  During the
Option Period, the Option shall be exercisable in accordance with the following
schedule:

 

	
  Grant Date Anniversary

  	
   

  	
  Percentage of Option
  Exercisable

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Prior to the first anniversary of the Grant
  Date

  	
   

  	
  0

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  On or after the first anniversary of the
  Grant Date

  	
   

  	
  15

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  On or after the second anniversary of the
  Grant Date

  	
   

  	
  17.5

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  On or after the third anniversary of the
  Grant Date

  	
   

  	
  20

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  On or after the fourth anniversary of the
  Grant Date

  	
   

  	
  22.5

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  On or after the fifth anniversary of the
  Grant Date

  	
   

  	
  25

  	
  %

  

 

Notwithstanding the foregoing, in the event
the Participant incurs a Termination of Employment due to death or Disability
as an employee of the Company or an Affiliate but prior to the fifth
anniversary of the Grant Date, all or any portion of the Option which is not
exercisable on the date immediately proceeding the date the Participant incurs a
Termination of Employment due to death or Disability shall become exercisable
on or after the date the Participant incurs a Termination of Employment due to
death or Disability.

 

 

(d)           The
Option granted hereunder is designated as a nonqualified stock option.

(e)           The
Company shall not be required to issue any fractional Option Shares.

 

2.             Termination of
Option.

Subject to Section 1(c):

 

(a)           If
a Participant has an involuntary (as to the Participant) Termination of
Employment for reasons other than Cause, Disability or death, this Option shall
be canceled ninety (90) days after the date of such Termination of Employment
or after the remaining Option Period, if shorter.

(b)           If
a Participant has a Termination of Employment due to Retirement, this Option
shall be canceled one year after the date of such Termination of Employment or
after the remaining Option Period, if shorter. For this purpose, Retirement
means the Participant’s Termination of Employment after attaining either (i) age
55 with the accrual of 10 years of service, or (ii) age 65.

(c)           If
the Termination of Employment is on account of the Disability or death of the
Participant, this Option shall be canceled one year after the date of the
termination of employment or the appointment of a Representative in the case of
death or after the remaining Option Period, if shorter.

(d)           If
the Participant has a voluntary Termination of Employment (other than due to
Retirement), this Option will be canceled thirty (30) days after the date of
such Termination of Employment.

(e)           If
the Participant has a Termination of Employment for Cause, this Option will
automatically be canceled simultaneously with the date of such Termination of
Employment.

A Participant’s Termination of Employment due
to death or Disability will result in the Option’s being fully
exercisable.  A Participant’s Termination
of Employment due to other than death or Disability does not accelerate the
percentage of the Option otherwise exercisable with respect to the
Participant.  Any portion of the Option
which is not exercisable as of a Participant’s Termination of Employment other
than due to death or Disability is canceled simultaneously with the date of
such Termination of Employment.

 

3.             Exercise.

The Option shall be exercisable during the
Participant’s lifetime only by the Participant (or his or her Representative),
and after the Participant’s death only by a Representative.  The Option may only be exercised by the
delivery to the Company of a properly completed written notice, in form
satisfactory to the Committee, which notice shall specify the number of Option
Shares to be purchased and the aggregate Option Price for such shares, together
with payment in full of such aggregate Option Price.  Payment shall only be made:

 

(a)           in
cash or by check;

(b)           by
the delivery to the Company of a valid and enforceable stock certificate (or
certificates) representing shares of Common Stock already owned by the
Participant for a period of at least six (6) months prior to such payment;

(c)           if
the Committee shall so permit, by delivery to the Company of a full recourse
promissory note or other full recourse evidence of indebtedness;

(d)           by
authorizing the Company to retain shares of Common Stock, thereby reducing the
number of shares of Common Stock to be issued and delivered to the Participant
upon such exercise;

(e)           if
the Committee shall so permit, by a “cashless” exercise as described in the
Plan; or

(f)            in
any combination of (a), (b), (c), (d) or (e).

 

If any part of the payment of the Option Price is made in shares of
Common Stock, such shares shall be valued by using their Fair Market Value as
of their date of delivery.

 

The Option shall not be exercised unless
there has been compliance with all the preceding provisions of this Section 3,
and, for all purposes of this Stock Option Agreement, the date of the exercise
of the Option shall be the date upon which there is compliance with all such
requirements.  The Committee may deny any
method of exercise permitted hereunder if such method would result in liability
under federal securities law to the Participant or the Company or result in an
expense charge to the Company.

 

4.             Payment of
Withholding Taxes.

If the Company is obligated to withhold an
amount on account of any tax imposed as a result of the exercise of the Option,
the Participant shall be required to pay such amount to the Company, as
provided in the Plan.

 

 

The Participant acknowledges and agrees that he or she is responsible
for the tax consequences associated with the grant of the Option and its exercise.

 

5.             Requirements of
Law; Registration and Transfer Requirements.

The Company shall not be required to sell or
issue any shares under the Option if the issuance of such shares shall
constitute a violation of any provision of any law or regulation of any
governmental authority.  This Option and
each and every obligation of the Company hereunder are subject to the
requirement that the Option may not be exercised or performed, in whole or in
part, unless and until the Option Shares are listed, registered or qualified,
properly marked with a legend or other notation, or otherwise restricted, as is
provided for in the Plan or required by the Committee.

 

6.             Changes in Company’s
Capital Structure.

The existence of an Option will not affect in
any way the right or authority of the Company or its stockholders to make or
authorize (a) any or all adjustments, recapitalizations, reorganizations
or other changes in the Company’s capital structure or its business; (b) any
merger or consolidation of the Company’s capital structure or its business; (c) any
merger or consolidation of the Company; (d) any issue of bonds,
debentures, preferred or prior preference stock ahead of or affecting the
Common Stock or the rights thereof; (e) the dissolution or liquidation of
the Company; (f) any sale or transfer of all or any part of its assets or
business; or (g) any other corporate act or proceeding, whether of a
similar character or otherwise.  In the
event of a Change in Control or other corporate restructuring provided for in
the Plan, the Participant shall have such rights, and the Committee shall take
such actions, as are provided for in the Plan.

 

7.             Nontransferability.

The Option and any interest in the Option may
not be sold, assigned, conveyed, gifted, pledged, hypothecated or otherwise
transferred in any manner other than by will or the laws of descent and
distribution.  Notwithstanding any other
provision of this Stock Option Agreement, any such attempted sale, assignment,
conveyance, gift, pledge, hypothecation or transfer shall be null and void and
shall nullify the Option immediately.

 

8.             Plan.

Notwithstanding any other provision of this
Stock Option Agreement, the Option is granted pursuant to the Plan, as in
effect on the date hereof, and is subject to all the terms and conditions of
the Plan, as the same may be amended from time to time.  The interpretation and construction by the
Committee of the Plan, this Stock Option Agreement, the Option, and such rules and
regulations as may be adopted by the Committee for the purpose of administering
the Plan, shall be final and binding upon the Participant.  Until the Option shall expire, terminate or
be exercised in full, the Company shall, upon written request therefor, send a
copy of the Plan, in its then-current form, to the Participant or any other
person or entity then entitled to exercise the Option. Participant hereby
acknowledges receipt of a copy of the Plan.

 

9.             Stockholder Rights.

Until the Option shall have been duly
exercised to purchase such Option Shares and such shares have been officially
recorded as issued on the Company’s official stockholder records, no person or
entity shall be entitled to vote, receive dividends or be deemed for any
purpose the holder of any Option Shares, and adjustments for dividends or
otherwise shall be made only if the record date therefor is subsequent to the
date such shares are recorded and after the date of exercise and without
duplication of any adjustment.

 

10.           Confidentiality,
Non-Solicitation and Non-Compete

Participant agrees to, understands and
acknowledges the following:

 

(a)           Participant
will be furnished, use or otherwise have access to certain “Confidential
Information” of the Company. 
Confidential Information means any and all financial, technical,
commercial or other information concerning the business and affairs of the
Company that is confidential and proprietary to the Company, including without
limitation, (i) information relating to the Company’s past and existing
customers and vendors and development of prospective customers and vendors,
including specific customer product requirements, pricing arrangements,
payments terms, customer lists and other similar information; (ii) inventions,
designs, methods, discoveries, works of authorship, creations, improvements or
ideas developed or otherwise produced, acquired

 

 

or used by the Company; (iii) the
Company’s proprietary programs, processes or software, consisting of but not
limited to, computer programs in source or object code and all related
documentation and training materials, including all upgrades, updates,
improvements, derivatives and modifications thereof and including programs and
documentation in incomplete stages of design or research and development; (iv) the
subject matter of the Company’s patents, design patents, copyrights, trade
secrets, trademarks, service marks, trade names, trade dress, manuals,
operating instructions, training materials, and other industrial property,
including such information in incomplete stages of design or research and
development; and (v) other confidential and proprietary information or
documents relating to the Company’s products, business and marketing plans and
techniques, sales and distribution networks and any other information or
documents which the Company reasonably regards as being confidential.

 

(b)           The
Company devotes significant financial, human and other resources to the
development of its products, its customer base and the general goodwill
associated with its business and that the Company diligently maintains the
secrecy and confidentiality of its Confidential Information.  Each and every component of the Confidential
Information is sufficiently secret to derive economic value from its not being
generally known to other persons.

 

(c)           While
employed by the Company and thereafter, Participant will hold in the strictest
confidence and not use in any manner which is detrimental to the Company or
disclose to any individual or entity any Confidential Information, except as
may be required by the Company in connection with Participant’s employment.

 

(d)           For
the period beginning on the date hereof and ending twelve months following the
termination of employment with the Company, Participant will not directly or
indirectly (a) employ, recruit or solicit for employment any person who is
(or was within six months prior to Participant’s employment termination date)
an employee of the Company or (b) solicit or encourage any customer,
vendor or potential customer or vendor of the Company with whom Participant had
contact while employed by the Company to terminate or otherwise alter his, her
or its relationship with the Company. 
Participant understands that any person or entity that Participant
contacted during the twelve months prior to the date of Participant’s
termination of employment for the purpose of soliciting sales from such person
or entity shall be regarded as a “potential customer” of the Company as to whom
the Company has a protectible proprietary interest.

 

(e)           If
Participant violates the terms of the Agreement, in addition to all other
remedies available under law or equity, the Company shall be entitled to
injunctive relief, issued by any court of competent jurisdiction, enjoining
Participant and each and every party connected with such violation from the
continuance of such violation. 
Accordingly, Participant agrees to submit to the jurisdiction of the
courts of Illinois in relation to any violation by Participant of the terms of
this agreement or matters subject to enforcement hereunder.

 

(f)            Notwithstanding
the terms and conditions of Section 10(e) (above, if Participant
violates the terms of this Section 10 at any time, Participant, without
any further action by the Company or Participate, shall forfeit, as of the
first day of any such violation, all right, title and interest to this Option,
any Option Shares then owned by Participant and any net proceeds received by
Participant pursuant to any sales or transfer of any Option Shares prior to, on
or after such date, and the Company shall have the right to issue a stop
transfer order and other appropriate instructions to its transfer agent with
respect to this Option and the Option Shares, and the Company further shall be
entitled to reimbursement from Participant of any fees and expenses (including
attorneys’ fees) incurred by or on behalf of the Company in enforcing the
Company’s rights under this Section 10(f). 
By accepting this Option Grant, Participant hereby consents to a
deduction from any amounts the Company owes to Participant from time to time
(including amounts owed to Participant as wages or other compensation, fringe
benefits, or vacation pay, as well as any other amounts owed to Participant by
the Company), to the extent of any amounts that Participant owes to the Company
under this Section 10.  Whether or
not the Company elects to make any set-off in whole or in part, if the Company
does not recover by means of set-off the full amount Participant

 

 

owes to the Company, calculated as set forth
in this paragraph, Participant agrees to pay immediately the unpaid balance to
the Company.

 

(g)           The
scope and duration of the restrictive covenants contained in this Agreement are
reasonable and necessary to protect a legitimate, protectible interest of the
Company.  However, if one or more
provisions of this Agreement are held to be unenforceable under applicable law
to any extent, such provision(s) shall, to that extent, be excluded from this
Agreement and the balance of the Agreement shall be interpreted as if such
provision(s) were so excluded to that extent and shall be enforceable in
accordance with its terms.

 

11.           Employment Rights.

No provision of this Stock Option Agreement
or of the Option granted hereunder shall give the Participant any right to
continue in the employ of the Company or any Company Affiliates, create
any inference as to the length of employment of the Participant, affect the
right of the Company or Company Affiliates to Terminate the Employment of the
Participant, with or without Cause, or give the Participant any right to
participate in any employee welfare or benefit plan or other program (other
than the Plan) of the Company or any of the Company Affiliates.

 

12.           Disclosure Rights.

The Company shall have no duty or obligation
to affirmatively disclose to the Participant or a Representative, and the
Participant or Representative shall have no right to be advised of, any
material information regarding the Company or an Affiliate at any time prior
to, upon or in connection with the exercise of an Option or the Company’s
purchase of Common Stock in accordance with the terms of this Stock Option
Agreement.

 

13.           Investment
Representation and Agreement.

The Committee may require the Participant to
furnish to the Company, prior to the issuance of any shares of Common Stock
upon the exercise of all or any part of this Option, an agreement (in such form
as such Committee may specify) in which the Participant represents that the
shares of Common Stock acquired by him upon exercise are being acquired for
investment and not with a view to the sale or distribution thereof.

 

14.           Governing Law.

This Stock Option Agreement and the Option
granted hereunder shall be governed by, and construed and enforced in
accordance with, the laws of the State of Illinois (other than its laws
respecting choice of law) except to the extent the General Corporation Law of
the State of Delaware would be mandatorily applicable.

 

15.           Entire Agreement.

This Stock Option Agreement, together with
the Plan, constitute the entire obligation of the parties hereto with respect
to the subject matter hereof and shall supersede any prior expressions of
intent or understanding with respect to this transaction.

 

16.           Definitions.

Wherever initial capitalization of a term is
used in this Stock Option Agreement, it shall have the same meaning as that
given to it by the Plan, except to the extent such meaning should conflict with
any meaning afforded to such term in this Stock Option Agreement.

 

17.           Amendment.

Any amendment to this Stock Option Agreement
shall be in writing and signed by the Company.

 

18.           Waiver; Cumulative
Rights.

The failure or delay of either party to
require performance by the other party of any provision hereof shall not affect
its right to require performance of such provision unless and until such
performance has been waived in writing. 
Each and every right hereunder is cumulative and may be exercised in
part or in whole from time to time.

 

19.           Counterparts.

This Stock Option Agreement may be signed in
two counterparts, each of which shall be an original, but both of which shall constitute
but one and the same instrument.

 

 

20.           Notices.

Any notice which either party hereto may be
required or permitted to give the other shall be in writing and may be
delivered personally or by mail, postage prepaid, addressed to the Secretary of
the Company, at its then corporate headquarters, and the Participant at his
address as shown on the Company’s payroll records, or to such other address as
the Participant, by notice to the Company, may designate in writing from time
to time.

 

21.           Headings.

The headings contained in this Stock Option
Agreement are for reference purposes only and shall not affect the meaning or
interpretation of this Stock Option Agreement.

 

22.           Severability.

If any provision of this Stock Option
Agreement shall for any reason be held to be invalid or unenforceable, such
invalidity or unenforceability shall not effect any other provision hereof, and
this Stock Option Agreement shall be construed as if such invalid or
unenforceable provision were omitted.

 

23.           Successors and Assigns.

This Stock Option Agreement shall inure to
the benefit of and be binding upon each successor and assign of the
Company.  All obligations imposed upon
the Participant or a Representative, and all rights granted to the Company
hereunder, shall be binding upon the Participant’s or the Representative’s
heirs, legal representatives and successors.

 

IN WITNESS WHEREOF, the Company has caused
this Stock Option Agreement to be duly executed by an officer thereunto duly
authorized, and the Participant has hereunto set his hand, all as of the day
and year first above written.

 

	
  On Behalf of the Option Committee

  	
  Participant:

  
	
   

  	
   

  
	
   

  	
   

  
	
  Charles R. Whitchurch

  	
   

  	
   

  	
   

  
	
  Chief Financial OfficerExhibit 10.2

 

ZEBRA TECHNOLOGIES
CORPORATION

2002 NON-EMPLOYEE DIRECTOR
STOCK OPTION PLAN

NON-QUALIFIED STOCK OPTION
AGREEMENT

 

THIS NON-QUALIFIED STOCK
OPTION AGREEMENT (this “Option Agreement”), dated as of                              (the
“Grant Date”), is between Zebra Technologies
Corporation, a Delaware corporation (the “Company”), and                              ,
(the “Participant”) relating to an option granted under the Zebra
Technologies Corporation 2002 Non-Employee Director Stock Option Plan (the “Plan”).  Capitalized terms used in this Option
Agreement without definition shall have the meanings ascribed to such terms in
the Plan.

 

1.             Grant of Option, Option
Price and Term.

 

(a)           Grant.  The Company grants to the Participant a
Non-Qualified Stock Option (the “Option”) to purchase                      shares
(the “Option Shares”) of the Company’s Class A Common Stock, $0.01 par
value per share (“Stock”), at a price of
$                     per
share (the “Option Price”), subject to the provisions of the Plan and the terms
and conditions herein.

 

(b)           Standard Vesting. 
Prior to the Expiration Date (as hereinafter defined), the Option shall
become and be exercisable as follows: 
20% of the number of Option Shares shall vest on the first anniversary of
the Grant Date, and thereafter the Option shall vest with respect to additional
Option Shares at a rate of 20% of the original number of Option Shares with
such additional vesting occurring on each successive annual anniversary of the Grant
Date, provided that the Participant continues to serve as a Director through
the applicable vesting dates.  The Option is not exercisable at
any time with respect to unvested shares, and upon Participant ceasing to be a
Director no further Option Shares shall become vested.

 

(c)           Change in Control Vesting.  In lieu of the standard vesting schedule in
Section 1(b) above, if a Change in Control occurs 100% of the
remaining unvested Option Shares shall be vested immediately before the Change
in Control occurs.

 

(d)           Nontransferable. 
The Option granted hereunder shall be non-transferable, except by will
or the laws of descent and distribution or pursuant to a qualified domestic
relations order as defined in the Code or to a Family Member of Participant as
permitted by the Plan.

 

(e)           No fractions. 
The Company shall not be required to issue any fractional shares of
Stock.

 

(f)            Expiration. 
The “Expiration Date” shall be the earliest to occur of:

 

(i)            the ten (10) year anniversary of the
Grant Date;

 

(ii)           the one (1) year anniversary of the
day the Participant ceases to be a Director; or

 

 

(iii)          the day a Participant is removed by the
stockholders for cause or resigns as a Director for Cause.

 

Notwithstanding the
foregoing, if Participant dies or becomes legally incapacitated and fewer than
ninety (90) days remain prior to the Expiration Date pursuant to clauses (i) or
(ii) above, then the Expiration Date shall not terminate prior to the
ninetieth (90th) day following the date of appointment of a Representative. “Cause”
means conduct by the Participant that involves theft or fraud with respect to
the Company or as is otherwise determined in accordance with the Delaware
General Corporation Law.  “Representative”
means (1) the person or entity acting as the executor or administrator of
a Participant’s estate pursuant to the last will and testament of a Participant
or pursuant to the laws of the jurisdiction in which the Participant had his or
her primary residence at the date of the Participant’s death; (2) the
person or entity acting as the guardian or temporary guardian of a Participant;
(3) the person or entity which is the beneficiary of the Participant upon
or following the Participant’s death; or (4) any person to whom a Stock
Option has been transferred with the permission of the Committee or by
operation of law; provided that only one of the foregoing shall be the
Representative at any point in time as determined under applicable law and
recognized by the Committee.

 

2.             Exercise.

 

The Option may only be
exercised to the extent the Option is exercisable and by the delivery to the
Company of a properly completed written notice, in form satisfactory to the
Committee, which notice shall specify the number of Option Shares to be
purchased and the aggregate Option Price for such shares, together with payment
in full of such aggregate Option Price. 
Payment shall only be made as specified in the Plan.  If any part of the payment of the Option
Price is made in shares of Stock, such shares shall be valued by using their
Fair Market Value as of the date of exercise of the Option.

 

The Participant may not
exercise the Option if the Company’s issuance of Stock upon such exercise would
violate any applicable federal or state securities laws or other laws or
regulations.  The Participant may not
sell or otherwise dispose of the Option Shares in violation of applicable
law.  The Company may postpone issuing
and delivering any Option Shares for so long as the Company reasonably
determines to be necessary to satisfy the following:  (i) its completing or amending any
securities registration or qualification of the Option Shares or its or the
Participant satisfying any exemption from registration under any Federal or
state law, rule, or regulation; (ii) its receiving proof it considers
satisfactory that a person seeking to exercise the Option after the Participant’s
death is entitled to do so; (iii) the Participant complying with any
requests for representations under the Plan; and (iv) the Participant
complying with any federal, state, or local tax withholding obligations.

 

3.             Payment of Taxes.

 

If the Company is
obligated to withhold an amount on account of any tax imposed as a result of
the exercise of the Option, the Participant shall be required to pay such
amount to the Company, as provided in the Plan. 
The Participant acknowledges and agrees that the Participant is
responsible for the tax consequences associated with the grant of the Option
and its exercise.

 

 

4.             Changes in Company’s
Capital Structure.

 

The existence of the
Option will not affect in any way the right or authority of the Company or its
stockholders to make or authorize (a) any adjustment, recapitalization,
reorganization or other changes in the Company’s capital structure or its
business; (b) any merger or consolidation of the Company; (c) any
issuance of bonds, debentures, preferred or prior preference stock ahead of or
affecting the Stock or the rights thereof; (d) the dissolution or
liquidation of the Company; (e) any sale or transfer of all or any part of
the Company’s assets or business; or (f) any other corporate act or
proceeding, whether of a similar character or otherwise.  In the event of a Change in Control or other
corporate transaction provided for in the Plan, the Participant shall have such
rights, and the Committee shall take such actions, as are provided for in the
Plan.

 

5.             Plan.

 

The Option is granted
pursuant to the Plan, and the Option and this Option Agreement are in all
respects governed by the Plan and subject to all of the terms and provisions
thereof, whether such terms and provisions are incorporated in this Option
Agreement by reference or are expressly cited. 
Capitalized terms used but not defined herein shall have the meanings
ascribed to such terms in the Plan.

 

6.             No Service or Employment
Rights.

 

No provision of this
Option Agreement or of the Option granted hereunder shall give the Participant
any right to continue in the service or employ of the Company or any Affiliate
of the Company, create any inference as to the length of employment or service
of the Participant, affect the right of the Company or any Affiliate of the
Company to terminate the employment or service of the Participant, with or
without cause, or give the Participant any right to participate in any employee
welfare or benefit plan or other program (other than the Plan) of the Company
or any Affiliate of the Company.

 

7.             Governing Law.

 

This Option Agreement and
the Option granted hereunder shall be governed by, and construed and enforced
in accordance with, the laws of the State of Delaware, without giving effect to
provisions thereof regarding conflict of laws.

 

8.             Waiver; Cumulative Rights.

 

The failure or delay of
either party to require performance by the other party of any provision hereof
shall not affect its right to require performance of such provision unless and
until such performance has been waived in writing.  Each and every right hereunder is cumulative
and may be exercised in part or in whole from time to time.

 

9.             Notices.

 

Any notice which either
party hereto may be required or permitted to give the other shall be in writing
and may be delivered personally or by mail, postage prepaid, addressed to the

 

 

Secretary of the
Company, at its then corporate headquarters, and the Participant at the
Participant’s address as shown on the Company’s records, or to such other
address as the Participant, by notice to the Company, may designate in writing
from time to time.

 

[signature page follows]

 

 

IN WITNESS WHEREOF, the Company has caused this
Option Agreement to be duly executed by an officer thereunto duly authorized,
and the Participant has hereunto set his or her hand, all as of the day and
year first above written.

 

 

	
  ZEBRA TECHNOLOGIES CORPORATION

  	
  Participant

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name: Edward L. Kaplan

  	
   

  
	
   

  	
   

  
	
  Title: Chairman and CEO

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]