Document:

Exhibit

Exhibit 10(g)

Second Amendment to
The 2015 Entergy Corporation Non-Employee Director Stock Program
Established under the 2015 Equity Ownership Plan
of Entergy Corporation and Subsidiaries

		
	1.
	General 

This Second Amendment (the “Second Amended 2015 Stock Program”) hereby amends and restates the 2015 Entergy Corporation Non-Employee Director Stock Program, as amended and restated by the First Amendment, established pursuant to Article 12 of the 2015 Equity Ownership Plan of Entergy Corporation and Subsidiaries (the “Plan”); the terms of which are incorporated into this Second Amended 2015 Stock Program.  References in this Second Amended 2015 Stock Program to any specific Plan provision do not limit the applicability of any other Plan provision. This Second Amended 2015 Stock Program shall be effective as of June 1, 2018 (the “Effective Date”) and shall, along with the terms of the Plan, govern Awards granted after the Effective Date.  Capitalized terms used in this Second Amended 2015 Stock Program shall have the meanings assigned to them in the Plan.  As of the Effective Date, this Second Amended 2015 Stock Program shall supersede and replace the 2015 Entergy Corporation Non-Employee Director Stock Program, as amended and restated by the First Amendment.  In the event of a conflict between the terms of the Plan and the Second Amended 2015 Stock Program, the terms of the Second Amended 2015 Stock Program shall prevail.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

		
	2.
	Purpose 

The purpose of the Second Amended 2015 Stock Program is to promote the interests of Entergy and its shareholders by attracting and retaining Non-Employee Directors of outstanding ability and enabling Non-Employee Directors to participate in the long-term growth and financial success of Entergy.  

		
	3.
	Eligibility 

The only persons eligible to participate in this Second Amended 2015 Stock Program are Non-Employee Directors.

		
	4.
	Administration

Pursuant to Article 3 of the Plan, the Board shall administer the Plan with respect to any Award granted to a Non-Employee Director; provided, however, that the Board may delegate its authority to administer the Second Amended 2015 Stock Program to any committee or subcommittee of the Board that is comprised solely of Non-Employee Directors.  

		
	5.
	Quarterly Stock Awards 

		
	a.
	Quarterly Stock Awards.  Subject to the provisions of Section 4.1 and Article 12 of the Plan and Sections 6 and 7 of this Second Amended 2015 Stock Program, each Non-Employee Director shall receive on an Award Date (as defined in Section 5.3 below) a quarterly grant of shares of Common Stock equal in value to $18,125 (the “Quarterly Stock Award”) as of such Award Date for serving as an Non-Employee Director during the entire calendar quarter ending on, or immediately prior to, such Award Date; provided however, that each Non-Employee Director for the May 31, 2018 Award Date shall receive a grant of shares of Common Stock equal in value to $16,250.  The number of shares of Common Stock granted on an 

Award Date shall be determined by dividing (a) $18,125 (or in the case of the May 31, 2017 Award Date, $16,250) by (b) the closing price of a share of Common Stock on the New York Stock Exchange (“NYSE”) on such Award Date.  Any fractional share that results from this determination shall be rounded up to the next whole share and shall be included in the applicable Quarterly Stock Award.  

		
	b.
	Consideration.  Each Quarterly Stock Award is granted in exchange for services rendered during the calendar quarter ending on, or immediately prior to, the Award Date and does not require the payment of consideration.

		
	c.
	Award Dates.  Quarterly Stock Awards will be granted on the last day of May, August, November and February of each year or, if such date is a day on which the NYSE is not open for trading, the next succeeding NYSE trading day (each an “Award Date”): 

		
	5.4.
	Proration.  If a Non-Employee Director serves as a Non-Employee Director for less than the full calendar quarter ending on, or immediately prior to, an Award Date, the number of shares of Common Stock awarded to the Non-Employee Director on such Award Date shall be determined by multiplying the number of shares (including fractional shares) of Common Stock such Non-Employee Director would have received on such Award Date had he or she served as a Non-Employee Director for the full calendar quarter by a fraction, the numerator of which is the actual  number of days (up to 90) the individual served as a Non-Employee Director during the applicable calendar quarter and the denominator of which is 90 days.  Any fractional share that results from this determination shall be rounded up to the next whole share and shall be included in the pro-rated Award to the Non-Employee Director.

		
	5.5.
	Employment by System Company.  If a Non-Employee Director subsequently becomes an employee of a System Company while remaining a member of the Board, the former Non-Employee Director’s participation in the Second Amended 2015 Stock Program will be terminated effective immediately upon his or her employment by the System Company.  The change in the Non-Employee Director’s employment status shall have no effect on Quarterly Stock Awards granted prior to his or her employment by a System Company; provided that the former Non-Employee Director shall be entitled to a pro-rated Award for the calendar quarter in which he or she becomes an employee of a System Company in accordance with Section 5.4 of the Second Amended 2015 Stock Program.  

		
	5.6.
	Taxes.  If required by applicable law, the Non-Employee Director shall pay to Entergy any amount necessary to satisfy applicable federal, state or local tax withholding requirements attributable to the Quarterly Stock Awards promptly upon notification of the amounts due. If required to pay withholding taxes, the Non-Employee Director may, to the extent consistent with the requirements of Code Section 409A and regulations thereunder, elect to pay such taxes from the shares of Common Stock that otherwise would be distributed to such Non-Employee Director, or from a combination of cash and shares of Common Stock.  As provided in Section 4.4 of the Plan, Common Stock related to that portion of an Award utilized for the payment of withholding taxes shall not again be available for Awards under the Plan.

		
	5.7.
	Delivery.  Entergy may deliver shares of Common Stock representing a Quarterly Stock Award by book-entry credit to the account of the Non-Employee Director or by the delivery of certificated shares.  Entergy may affix to these shares any legend that Entergy determines to be necessary or advisable.

		
	6.
	Deferral

In lieu of taking delivery of shares of Common Stock on an Award Date, a Non-Employee Director may elect to defer the receipt of such Quarterly Stock Award to a subsequent calendar year provided that he or she files an irrevocable written deferral election with the Board no later than the 31st day of December of the calendar year immediately preceding the calendar year in which the Non-Employee Director commence the services to which the Award Date relates.  Accordingly, for those Quarterly Stock Awards granted with respect to the quarters ending on the last day of May, August and November, such deferral election must be filed by December 31 of the calendar year immediately preceding such Award Dates and, for those Quarterly Stock Awards granted with respect to quarters ending on the last day of February, such deferral election must be filed by December 31 of the second calendar year immediately preceding such Award Dates.  Quarterly Stock Awards deferred pursuant to this Section 6 shall be deferred as equity units, each of which shall have the value, as of the Award Date, of one (1) share of Common Stock.  Equity units do not represent actual shares of Common Stock and no shares of Common Stock will be purchased or acquired for the payout of any Quarterly Stock Award deferred under this Second Amended 2015 Stock Program.  On each Award Date, the deferred equity units shall be credited to each Non-Employee’s bookkeeping account maintained by Entergy with respect to such Non-Employee Director’s deferrals.  

The Non-Employee Director’s written deferral election must specify the date on which the deferred equity units will be paid (“Payment Date”), which Payment Date must be no earlier than January 2nd of the third calendar year immediately following the calendar year in which the applicable Award Date occurs.  Quarterly Stock Awards deferred pursuant to this Section shall accrue dividend equivalents, which Dividend Equivalents will be paid on the Payment Date together with interest calculated at an annual rate based upon the 52-week U.S. Treasury Bill Rate as in effect on the first business day of each year. On each Payment Date, equity units deferred and elected to be paid out on such date shall be paid in cash in an amount equal to (a) the number of equity units outstanding on the Payment Date multiplied by the closing price of a share of Common Stock on the NYSE as of the close of business on the Payment Date or, if such Payment Date is a day on which the NYSE is not open for trading, the closing price of Common Stock on the next succeeding NYSE trading day, plus (b) the amount of all accrued Dividend Equivalents with respect to such equity units and (c) interest on the Dividend Equivalents.

In the case of any Quarterly Stock Award deferred pursuant to this Section 6, no shares of Common Stock shall be purchased, distributed or contributed at the time of the deferral, and none of Entergy, the Plan or the Second Amended 2015 Stock Program shall be required to set aside a fund or assets for the payment of any such deferred amount.  No Non-Employee Director shall look to any other person or entity other than Entergy for the payment of benefits under the Second Amended 2015 Stock Program.  The Non-Employee Directors or any other person or entity having or claiming a right to payments hereunder shall rely solely on the unsecured obligation of Entergy to the Non-Employee Director set forth herein.  Nothing in this Second Amended 2015 Stock Program shall be construed to give a Non-Employee Director or any other person or entity any right, title, interest, or claim in or to any specific asset, fund, reserve, account or property of any kind whatsoever, owned by Entergy or any of its affiliates or in which Entergy or any of its affiliates may have any right, title or interest now or in the future.  Each Non-Employee Director shall have the right to enforce his or her claim under the Second Amended 2015 Stock Program in the same manner as any other unsecured creditor of Entergy and its affiliates.

		
	1.
	Miscellaneous

The Board reserves the right at any time to amend the terms and conditions set forth in this Second Amended 2015 Stock Program to the extent permitted under the Plan.  Further, the Second Amended 2015 Stock Program is intended to comply with the requirements of Code Section 409A and the regulations 

thereunder and shall be administered in accordance with Code Section 409A and the regulations thereunder to the extent the Second Amended 2015 Stock Program is subject thereto.  To the extent that any provision of the Second Amended 2015 Stock Program would conflict with the requirements of Code Section 409A and the regulations thereunder or would cause the administration of the Second Amended 2015 Stock Program to fail to satisfy such requirements, such provision shall be deemed null and void to the extent permitted by applicable law.Exhibit

Exhibit 10.1

PERFORMANCE-VESTED RESTRICTED STOCK AGREEMENT
This PERFORMANCE-VESTED RESTRICTED STOCK AGREEMENT (this “Stock Agreement”), dated as of %%OPTION_DATE,’MM/DD/YYYY’%-% (the “Grant Date”), is between ZEBRA TECHNOLOGIES CORPORATION, a Delaware corporation (the “Company”), and %%FIRST_NAME%-% %%LAST_NAME%-% (the “Participant”), relating to restricted stock granted under the Zebra Technologies Corporation 2015 Long-Term Incentive Plan, as amended (the “Plan”).  Capitalized terms used in this Stock Agreement without definitions shall have the meanings ascribed to such terms in the Plan.
		
	1.
	Grant of Restricted Stock.

(a)Grant.  Subject to the provisions of this Stock Agreement and pursuant to the provisions of the Plan, the Company hereby grants to the Participant as of the Grant Date %%TOTAL_SHARES_GRANTED,’999,999,999’%-%   shares (the “Target Shares”) of the Company’s Class A Common Stock, $.01 par value per share (the “Restricted Stock”).  This Stock Agreement shall be null and void unless the Participant accepts this Stock Agreement by either (i) electronically accepting this Stock Agreement through the Company’s electronic delivery and acceptance process operated by E*TRADE or (ii) executing this Stock Agreement in the space provided below and returning it to the Company, in each case not later than June 29, 2018.  
(b)Nontransferability.  Except as otherwise permitted under the Plan or this Stock Agreement, the Restricted Stock granted hereunder shall be non-transferable by the Participant during the Period of Restriction set forth under Section 2 of this Stock Agreement.
		
	2.
	Vesting of Restricted Stock.

i.Period of Restriction and Performance Goals.  
i.The Restricted Stock shall be forfeitable and non-transferable during the Period of Restriction.  The “Period of Restriction” with respect to the Restricted Stock shall begin on the Grant Date and end at 5:00 p.m., Central Time, on May 10, 2021 in accordance with Exhibit A.  This Stock Agreement shall be settled in whole shares of the Company’s Common Stock (rounded down to the nearest whole share).  
ii.Except as otherwise provided for under this Stock Agreement, the Participant must remain employed by the Company or any Subsidiary continuously through the Period of Restriction.
a.Additional Vesting Rules.  Notwithstanding Section 2(a), the Restricted Stock shall be subject to the following additional vesting rules in the following circumstances:
		
	i.
	Death or Disability. In the event the Participant’s employment with the Company and/or any Subsidiary is terminated due to Participant’s death or Disability prior to December 31, 2020, a number of Shares equal to the greater of (x) the product of (1) the number 

of Target Shares multiplied by (2) the vesting percentage used by the Company (determined in accordance with Exhibit A) when determining compensation expense under Generally Accepted Accounting Principles as of the most recent quarter end prior to the effective date of the Participant’s termination of employment and (y) the number of Shares banked pursuant to Exhibit A as of the effective date of the Participant’s termination of employment, shall become fully vested as of 5:00 p.m., Central Time, on the effective date of the Participant’s termination of employment.  In the event the Participant’s employment with the Company and its Subsidiaries is terminated due to death or Disability on or after December 31, 2020 and on or prior to 5:00 p.m., Central Time, on May 10, 2021, a number of Shares equal to the greater of (x) the number of Shares determined in accordance with Exhibit A and (y) the number of Shares banked as of December 31, 2020 pursuant to Exhibit A, shall become fully vested as of 5:00 p.m., Central Time, on the effective date of the Participant’s termination of employment.  For purposes of this Stock Agreement, “Disability” has the meaning set forth in the employment agreement, if any, between the Company and/or any Subsidiary and the Participant or, if the Participant is not a party to such an agreement, “Disability” has the meaning ascribed to such term in the Plan. 
ii.Retirement; Termination by the Company or any Subsidiary other than for Cause.  In the event the Participant’s employment with the Company and/or any Subsidiary is terminated prior to December 31, 2020 due to Participant’s Retirement, or by the Company and/or any Subsidiary other than for Cause, a number of Shares equal to the product of (x) a fraction, the numerator of which is the number of days from but excluding the Grant Date and to and including the effective date of the Participant’s termination of employment, and the denominator of which is 1,096, multiplied by the greater of (y)(1) the number of Target Shares multiplied by (2) the vesting percentage used by the Company (determined in accordance with Exhibit A) when determining compensation expense under Generally Accepted Accounting Principles as of the most recent quarter end prior to the effective date of the Participant’s termination of employment and (z) the number of Shares banked pursuant to Exhibit A as of effective date of the Participant’s termination of employment, shall become fully vested as of 5:00 p.m., Central Time, on the effective date of the Participant’s termination of employment.  In the event the Participant’s employment with the Company and its Subsidiaries is terminated on or after December 31, 2020 and on or prior to 5:00 p.m., Central Time, on May 10, 2021 due to Participant’s Retirement, or by the Company and/or any Subsidiary other than for Cause, a number of Shares equal to the product of (x) a fraction, the numerator of which is the number of days from but excluding the Grant Date and to and including the effective date of the Participant’s termination of employment, and the denominator of which is 1,096, multiplied by the greater of (y)(1) the number of Shares determined in accordance with Exhibit A and (2) the number of Shares banked as of December 31, 2020 pursuant to Exhibit A, shall become fully vested as of 5:00 p.m., Central Time, on the effective date of the Participant’s termination of employment.  For purposes of this Stock Agreement, “Retirement” means the Participant’s voluntary termination of employment with the Company and/or any Subsidiary on or after age sixty-five (65) or prior to age sixty-five (65) with the approval of the Senior Vice President, Chief Administrative Officer; and “Cause” has the meaning 

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set forth in the employment agreement, if any, between the Company and/or any Subsidiary and the Participant or, if the Participant is not a party to such an agreement, “Cause” has the meaning, as determined by the Company in its sole discretion, set forth in the Plan.  
a.Termination for Cause.  In the event the Participant’s employment with the Company and/or any Subsidiary is terminated for Cause, any unvested Restricted Stock shall be forfeited to the Company as of the date of the event giving rise to the termination for Cause.
b.Other Termination of Employment.  In the event the Participant’s employment with the Company and/or any Subsidiary is terminated for any reason other than as provided in Section 2(b)(i), (ii) or (iii), any unvested Shares of Restricted Stock as of the effective date of the Participant’s termination of employment shall immediately be forfeited to the Company.  
		
	3.
	Rights While Holding Restricted Stock.

(a)    Custody and Availability of Shares.  The Company shall hold the Target Shares in uncertificated, book-entry form registered in the Participant’s name until any Target Shares shall have vested, in whole or in part, pursuant to Section 2.  Subject to Section 4, if and to the extent shares of Restricted Stock, including Target Shares, become vested, the Company shall remove or cause the removal of the restrictions on transfer of such shares arising from this Stock Agreement.  Such unrestricted shares shall be made available to the Participant in uncertificated, book-entry form registered in the Participant’s name.
(b)    Rights as a Stockholder.  During the period that Target Shares remain unvested, the Participant shall have all of the rights of a stockholder of the Company with respect to the Target Shares including, but not limited to, the right to receive dividends paid on the Target Shares and the full right to vote such shares.
(c)    Section 83(b) Election.  The Participant is not permitted to make a Section 83(b) election with respect to the Restricted Stock.  
(d)    Compliance with Federal and State Law.  The Company may postpone issuing and delivering any Restricted Stock 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 Restricted Stock or it or the Participant satisfying any exemption from registration under any federal, state or other law, rule or regulation; and
(ii)    the Participant complying with any federal, state or other tax withholding obligations.
4.    Payment of Taxes.  If the Company is obligated to withhold an amount on account of any tax imposed as a result of the issuance or vesting of the Restricted Stock, the Participant shall be required to pay such amount to the Company, as provided in Section 9.10 of the Plan.  The Participant 

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acknowledges and agrees that the Participant is responsible for the tax consequences associated with the grant of the Restricted Stock and its vesting.
5.    Change in Control.  Subject to Section 9.8 of the Plan:
		
	(a)
	Notwithstanding any provision in this Agreement, in the event of a Change in Control prior to December 31, 2020 pursuant to Section 2.5(c) or (d) of the Plan in connection with which (i) holders of Shares receive consideration consisting solely of shares of common stock that are registered under Section 12 of the Exchange Act (and disregarding the payment of cash in lieu of fractional shares) and (ii) this Stock Agreement is assumed or provision is made for the continuation of this Stock Agreement, then subject to Section 4.3 of the Plan, a number of Shares equal to the greater of (x) the product of (1) the number of Target Shares multiplied by (2) the vesting percentage used by the Company (determined in accordance with Exhibit A) when determining compensation expense under Generally Accepted Accounting Principles as of the most recent quarter end prior to the effective date of the Change in Control and (y) the number of Shares banked pursuant to Exhibit A as of the effective date of the Change in Control, shall become fully vested as of 5:00 p.m., Central Time, on the effective date of the Change in Control and there shall be substituted for each Share of Restricted Stock then subject to this Stock Agreement, the number and class of shares into which each outstanding Share shall be converted pursuant to such Change in Control.  Notwithstanding any provision in this Agreement, in the event of a Change in Control on or after December 31, 2020 and on or prior to 5:00 p.m., Central Time, on May 10, 2021 pursuant to Section 2.5(c) or (d) of the Plan in connection with which (i) holders of Shares receive consideration consisting solely of shares of common stock that are registered under Section 12 of the Exchange Act (and disregarding the payment of cash in lieu of fractional shares) and (ii) this Stock Agreement is assumed or provision is made for the continuation of this Stock Agreement, then subject to Section 4.3 of the Plan, a number of Shares equal to the greater of (x) the number of Shares determined in accordance with Exhibit A and (y) the number of Shares banked as of December 31, 2020 pursuant to Exhibit A, shall become fully vested as of 5:00 p.m., Central Time, on the effective date of the Change in Control and there shall be substituted for each Share of Restricted Stock then subject to this Stock Agreement, the number and class of shares into which each outstanding Share shall be converted pursuant to such Change in Control.

		
	(b)
	Notwithstanding any provision in this Agreement, in the event of a Change in Control prior to December 31, 2020 pursuant to Section 2.5(a) or (b) of the Plan, or in the event of a Change in Control prior to December 31, 2020 pursuant to Section 2.5(c) or (d) of the Plan as to which Section 5(a) above does not apply, this Stock Agreement shall be surrendered to the Company by the Participant, and this Stock Agreement shall immediately be canceled by the Company, and the Participant shall receive, within ten (10) days following the effective date of the Change in Control, a cash payment from the Company in an amount equal to the greater of (x) the product of (1) the number of Target Shares multiplied by (2) the vesting percentage used by the Company (determined in accordance with Exhibit A) when determining compensation expense under Generally Accepted Accounting Principles as of the most recent quarter end prior to the effective date of the Change in Control and (y) the 

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number of Shares banked pursuant to Exhibit A as of the effective date of the Change in Control, multiplied by the greater of (i) the highest per Share price offered to stockholders of the Company in any transaction whereby the Change in Control takes place or (ii) the Fair Market Value of a Share on the effective date of the Change in Control.  Notwithstanding any provision in this Agreement, in the event of a Change in Control on or after December 31, 2020 and on or prior to 5:00 p.m., Central Time, on May 10, 2021 pursuant to Section 2.5(a) or (b) of the Plan, or in the event of a Change in Control on or after December 31, 2020 and on or prior to 5:00 p.m., Central Time, on May 10, 2021 pursuant to Section 2.5(c) or (d) of the Plan as to which Section 5(a) above does not apply, this Stock Agreement shall be surrendered to the Company by the Participant, and this Stock Agreement shall immediately be canceled by the Company, and the Participant shall receive, within ten (10) days following the effective date of the Change in Control, a cash payment from the Company in an amount equal to the greater of (x) the number of Shares determined in accordance with Exhibit A and (y) the number of Shares banked as of December 31, 2020 pursuant to Exhibit A, multiplied by (z) the greater of (i) the highest per Share price offered to stockholders of the Company in any transaction whereby the Change in Control takes place or (ii) the Fair Market Value of a Share on the effective date of the Change in Control.   
6.    Confidentiality, Non-Solicitation and Non-Compete. The Participant agrees to, understands and acknowledges the following:
(a)    Confidential Information.  The Participant will be furnished, use or otherwise have access to certain Confidential Information of the Company and/or a Subsidiary.  For purposes of this Stock Agreement, “Confidential Information” means any and all financial, technical, commercial or other information concerning the business and affairs of the Company and/or a Subsidiary that is confidential and proprietary to the Company and/or a Subsidiary, including without limitation,
(i)    information relating to the Company’s or Subsidiary’s past and existing customers and vendors and development of prospective customers and vendors, including specific customer product requirements, pricing arrangements, payment 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 and/or a Subsidiary;
(iii)    the Company’s or Subsidiary’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 or Subsidiary’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

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(v)    other confidential and proprietary information or documents relating to the Company’s or Subsidiary’s products, business and marketing plans and techniques, sales and distribution networks and any other information or documents that the Company and/or a Subsidiary reasonably regards as being confidential.
The Company and its Subsidiaries devote significant financial, human and other resources to the development of their products, customer base and the general goodwill associated with their business, and the Company and its Subsidiaries diligently maintain the secrecy and confidentiality of their 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.  While employed by the Company and/or Subsidiary and thereafter, the Participant will hold in the strictest confidence and not use in any manner which is detrimental to the Company or its Subsidiaries or disclose to any individual or entity any Confidential Information, except as may be required by the Company or its Subsidiaries in connection with the Participant’s employment.
All Company Materials are and will be the sole property of the Company and/or Subsidiary.  The Participant agrees that during and after his or her employment by the Company and/or Subsidiary, the Participant will not remove any Company Materials from the business premises of the Company or a Subsidiary or deliver any Company Materials to any person or entity outside the Company or a Subsidiary, except as the Participant is required to do so in connection with performing the duties of his or her employment.  The Participant further agrees that, immediately upon the termination of his or her employment for any reason, or during the Participant’s employment if so requested by the Company, the Participant will return all Company Materials and other physical property, and any reproduction thereof, excepting only the Participant’s copy of this Agreement.  For purposes of this Stock Agreement, “Company Materials” means documents or other media or tangible items that contain or embody Confidential Information or any other information concerning the business, operations or future/strategic plans of the Company and/or any Subsidiary, whether such documents have been prepared by the Participant or by others.
(b)    Non-Solicitation and Non-Compete.  Notwithstanding any provision of this Stock Agreement, (1) during the Participant’s employment with the Company or any Subsidiary or (2) during the one-year period commencing on the effective date of the Participant’s termination of employment or (3) prior to the date that is one year after the date of vesting of all or any portion of the Restricted Stock, the Participant shall not, directly or indirectly:
(i)    employ, recruit or solicit for employment any person who is (or was within the six (6) months prior to the Participant’s employment termination date) an employee of the Company and/or any Subsidiary; or
(ii)    accept employment or engage in a competing business that may require contact, solicitation, interference or diverting of any of the Company’s or any Subsidiary’s customers, or that may result in the disclosure, divulging, or other use, of Confidential Information or Company Materials acquired during the Participant’s employment with the Company or any Subsidiary; or

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(iii)    solicit or encourage any customer, channel partner or vendor (or potential customer, channel partner or vendor of the Company or any Subsidiary with whom the Participant had contact while employed by the Company or any Subsidiary) to terminate or otherwise alter his, her or its relationship with the Company or any Subsidiary.  The Participant understands that any person or entity that the Participant contacted during the twelve (12) months prior to the date of the Participant’s termination of employment for the purpose of soliciting sales from such person or entity shall be regarded as a “potential customer” or “potential channel partner” of the Company to whom the Company or a Subsidiary has a protectable proprietary interest.
(c)    Enforceability of Restrictive Covenants.  The scope and duration of the restrictive covenants contained in this Stock Agreement are reasonable and necessary to protect a legitimate, protectable interest of the Company and its Subsidiaries.
(d)    Written Acknowledgement by Participant.  The Committee, in its sole discretion, may require the Participant, as a condition to lapsing any restriction on the Restricted Stock, to acknowledge in writing that the Participant has not engaged, and is not in the process of engaging, in any of the activities described in this Section 6.
		
	7.
	Right of Setoff; Recoupment.

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(a)    Right of Setoff.  The Company or any Subsidiary may, to the extent permitted by applicable law and which would not trigger tax under Code Section 409A, deduct from and set off against any amounts the Company or Subsidiary may owe to the Participant from time to time, including amounts payable in connection with the Stock Agreement, owed as wages, fringe benefits, or other compensation owed to the Participant, such amounts as may be owed by the Participant to the Company or a Subsidiary, although the Participant shall remain liable for any part of the Participant’s payment obligation not satisfied through such deduction and setoff.  By accepting any Restricted Stock granted hereunder, the Participant agrees to any deduction or setoff under this Section 7(a).
(b)    Termination of the Stock Agreement; Recoupment.  The Stock Agreement shall terminate automatically and be subject to clawback on the date the Participant violates the non-solicit, non-compete or confidentiality provisions in Sections 6(a) or 6(b) or commits an act of theft, embezzlement of funds or fraud involving money or property of the Company or any Subsidiary.  Any outstanding Restricted Stock, whether vested or unvested, shall terminate automatically as of the date of such violation of Sections 6(a) or 6(b) or commission of an act of theft, embezzlement or fraud and the Participant shall forfeit such Restricted Stock.  With respect to any Restricted Stock that vested within the one-year period prior to the date of such violation of Sections 6(a) or 6(b) or commission of an act of theft, embezzlement or fraud, the Participant shall pay the Company, within forty-five (45) days of receipt by the Participant of a written demand therefor, or pursuant to such other time frame as the Company, in its sole discretion, agrees to in writing with the Participant, an amount in cash determined by multiplying the number of such shares of Restricted Stock by the Fair Market Value of a Share on the date of such vesting.
(c)    Injunctive Action.  The Participant acknowledges that if he or she violates the terms of Sections 6 or 7, the injury that would be suffered by the Company and/or a Subsidiary as a result of a breach of the provisions of this Stock Agreement (including any provision of Section 6(a) or (b) or 7(b)) would be irreparable and that an award of monetary damages to the Company and/or a Subsidiary for such a breach would be an inadequate remedy.  Consequently, the Company and/or a Subsidiary will have the right, in addition to any other rights it may have, to obtain injunctive relief to restrain any breach or threatened breach or otherwise to specifically enforce any provision of this Stock Agreement, and the Company and/or a Subsidiary will not be obligated to post bond or other security in seeking such relief.  Without limiting the Company’s or Subsidiary’s rights under this Section 7 or any other remedies of the Company or a Subsidiary, if the Participant breaches any of the provisions of Section 6(a), 6(b) or 7(b), the Company will have the right to cancel this Stock Agreement.
(d)    Attorneys’ Fees.  In addition to the rights available to the Company and its Subsidiaries under Sections 7(b) and (c), if the Participant violates the terms of Sections 6 or 7 at any time, the Company shall be entitled to reimbursement from the Participant of any fees and expenses (including attorneys’ fees) incurred by or on behalf of the Company or any Subsidiary in enforcing the Company’s or a Subsidiary’s rights under this Section 7.  In addition to any injunctive relief sought under Section 7(c) and whether or not the Company or any Subsidiary elects to make any set-off in whole or in part, if the Company or any Subsidiary does not recover by means of set-off the full amount the Participant owes to the Company or any Subsidiary, calculated as set forth in this Section 7(d), the Participant agrees to immediately pay the unpaid balance to the Company or any Subsidiary.

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	8.
	Miscellaneous Provisions.

(a)    No Service or Employment Rights.  No provision of this Stock Agreement or of the Restricted Stock granted hereunder shall give the Participant any right to continue in the service or employ of the Company or any Subsidiary, create any inference as to the length of employment or service of the Participant, affect the right of the Company or any Subsidiary 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 Subsidiary.
(b)    Plan Document Governs.  The Restricted Stock is granted pursuant to the Plan, and the Restricted Stock and this Stock 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 Stock Agreement by reference or are expressly cited.  Any inconsistency between the Stock Agreement and the Plan shall be resolved in favor of the Plan.  The Participant hereby acknowledges receipt of a copy of the Plan.
(c)    Administration.  This Stock Agreement and the rights of the Participant hereunder are subject to all the terms and conditions of the Plan, as the same may be amended from time to time, as well as to such rules and regulations as the Committee may adopt for administration of the Plan.  It is expressly understood that the Committee is authorized to administer, construe, and make all determinations necessary or appropriate to the administration of the Plan and this Stock Agreement, all of which shall be binding upon the Participant.
(d)    No Vested Right in Future Awards.  The Participant acknowledges and agrees (by accepting or executing this Stock Agreement) that the granting of Restricted Stock under this Stock Agreement is made on a fully discretionary basis by the Company and that this Stock Agreement does not lead to a vested right to further restricted stock or other awards in the future.
(e)    Use of Personal Data.  By accepting or executing this Stock Agreement, the Participant acknowledges and agrees to the collection, use, processing and transfer of certain personal data, including his or her name, salary, nationality, job title, position and details of all past Awards and current Awards outstanding under the Plan (“Data”), for the purpose of managing and administering the Plan.  The Participant is not obliged to consent to such collection, use, processing and transfer of personal data, but a refusal to provide such consent may affect his or her ability to participate in the Plan.  The Company, or its Subsidiaries, may transfer Data among themselves or to third parties as necessary for the purpose of implementation, administration and management of the Plan.  These various recipients of Data may be located elsewhere throughout the world.  The Participant authorizes these various recipients of Data to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Plan.  The Participant may, at any time, review Data with respect to the Participant and require any necessary amendments to such Data.  The Participant may withdraw his or her consent to use Data herein by notifying the Company in writing; however, the Participant understands that by withdrawing his or her consent to use Data, the Participant may affect his or her ability to participate in the Plan.

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(f)    Severability.  If a provision of this Stock Agreement is or becomes illegal, invalid or unenforceable in any jurisdiction then that provision is to be construed either by modifying it to the minimum extent necessary to make it enforceable (if permitted by law) or disregarding it (if not), and that shall not affect the validity or enforceability in that jurisdiction of any other provision of this Stock Agreement; or the validity or enforceability in other jurisdictions of that or any other provision of this Stock Agreement. 
(g)    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.
(h)    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 Corporate Secretary of the Company, at its then corporate headquarters, and the Participant at the Participant’s address (including any electronic mail 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.  The Participant hereby consents to electronic delivery of any notices that may be made hereunder.
(i)    Counterparts.  This Stock Agreement may be signed in counterparts, each of which shall be an original, but both of which shall constitute but one and the same instrument.
(j)    Successors and Assigns.  This Stock Agreement shall inure to the benefit of and be binding upon each successor and assign of the Company.  All obligations imposed upon the Participant, and all rights granted to the Company hereunder, shall be binding upon the Participant’s heirs, legal representatives and successors.
(k)    Governing Law.  This Stock Agreement and the Restricted Stock 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.
(l)    Entire Agreement.  This Stock Agreement, together with the Plan, constitutes 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.
(m)    Amendment.  Any amendment to this Stock Agreement shall be in writing and signed by an executive officer of the Company or the Director of Compensation and Benefits.
(n)    Headings and Construction.  The headings contained in this Stock Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Stock Agreement.  This Stock Agreement is intended to be a stock right excluded from the requirements of Code Section 409A.  The terms of this Stock Agreement shall be administered and construed in a manner consistent with the intent that it be a stock right excluded from the requirements of Code Section 409A.

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IN WITNESS WHEREOF, the Company has caused this Stock Agreement to be duly executed by an officer thereunto duly authorized, and the Participant has electronically accepted this Stock Agreement through the Company’s electronic delivery and acceptance process operated by e*Trade or hereunto set his or her hand, all as of the day and year first above written.

	
		
	ZEBRA TECHNOLOGIES CORPORATION
	 

	By:  

	 

	Name:  Anders Gustafsson
	 

	Title:    Chief Executive Officer
	 

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Exhibit A

		
	1.
	Net Sales CAGR and Adjusted EBITDA Margin Performance Goals.

	
					
	Performance Goal and Percentage of Target Shares subject to Performance Goal
	Below Threshold
	Threshold
	Target
	Maximum

	Compounded Annual Growth Rate of Net Sales (60%)
	<2.50%
	2.50%
	4.00%
	5.50%

	Vested Percentage of Restricted Stock
	0%
	50.00%
	100.00%
	180%

	2020 Adjusted EBITDA Margin of Zebra (40%)
	<18.0%
	18.0%
	19.0%
	Equal to or greater than 20.0%

	Vested Percentage of Restricted Stock
	0%
	50.00%
	100.00%
	180%

“Net Sales” means, with respect to any period, the consolidated net sales of Zebra Technologies Corporation for that period (before adjustments for purchase accounting).  Compounded Annual Growth Rate of Total Net Sales (“CAGR”) equals (A) the quotient obtained by dividing 2020 Net Sales of Zebra by $3.725 billion, (B) raised to the one-third power, minus (C) one.  CAGR shall be rounded to the nearest one-hundredth of one percent.  For a CAGR between threshold and target, the Vested Percentage of Restricted Stock shall be interpolated on a straight line basis and rounded to the nearest one-hundredth of one percent.  For a CAGR between target and maximum, the Vested Percentage of Restricted Stock shall be interpolated on a straight line basis and rounded to the nearest one-hundredth of one percent.  

Annual Net Sales Performance:  The Participant is eligible for banking of a specific number of shares on an annual basis based upon an implied Net Sales annual growth rate. Unless the Committee or the Board otherwise determines in its sole discretion, the implied annual growth target will be the same as the three-year CAGR target of 4.0%.  If, as of December 31 of each calendar year commencing December 31, 2018, the implied annual target is achieved, 20% of the number of Target Shares (rounded to the nearest whole Share) shall be banked.  If the implied annual target for such year is not achieved, then no Shares shall be banked for such year.  No interpolation or pro-ration is applied to the number of Shares if the implied annual target is not achieved and, if the implied annual target is exceeded, no additional Target Shares in respect of such year shall be banked.  

“Adjusted EBITDA Margin” of Zebra means, with respect to any period, the ratio of the Adjusted EBITDA of Zebra Technologies Corporation for that period over the Net Sales of Zebra Technologies Corporation for that period.  “Adjusted EBITDA” means earnings before interest income and expense, taxes, depreciation, amortization and Other Income/Expense of Zebra Technologies Corporation, adjusted to remove equity-based compensation expense, adjustments for purchase accounting, and Non-Recurring Charges.  “Non-Recurring Charges”, as approved by the Compensation Committee, specifically include such items as (i) one-time charges, non-operating charges or expenses incurred that are not under the control of operations management; (ii) restructuring expenses; (iii) exit expenses; (iv) acquisition, 

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integration and divestiture expenses; (v) gains or losses on the sale of assets; (vi) acquired in-process technology; (vii) impairment charges; and (viii) changes in Generally Accepted Accounting Principles.  The above list is not exhaustive.  For an Adjusted EBITDA Margin between threshold and target, the Vested Percentage of Restricted Stock shall be interpolated on a straight line basis and rounded to the nearest one-hundredth of one percent.  For an Adjusted EBITDA Margin between target and maximum, the Vested Percentage of Restricted Stock shall be interpolated on a straight line basis and rounded to the nearest one-hundredth of one percent.    

Annual Adjusted EBITDA Margin Performance:  The Participant is eligible for banking of a specific number of shares on an annual basis based upon achieving or exceeding an Adjusted EBITDA Margin target for such year.  Unless the Committee or the Board otherwise determines in its sole discretion, the Adjusted EBITDA Margin targets for each of 2018, 2019 and 2020 is 19.0%.  If the Adjusted EBITDA Margin target for any of 2018, 2019 and 2020 is achieved, 13.3% of the number of Target Shares (rounded to the nearest whole Share) shall be banked.  If the Adjusted EBITDA Margin target for such year is not achieved, then no Shares shall be banked for such year.  No interpolation or pro-ration is applied to the number of Shares if the Adjusted EBITDA Margin target is not achieved and, if the Adjusted EBITDA Margin target is exceeded, no additional Target Shares in respect of such year shall be banked.  

The sum of the banked shares, if any, in respect of each calendar year with respect to the annual Net Sales performance and the annual Adjusted EBITDA Margin performance shall be the “Minimum Vested Shares”. 

As of December 31, 2020, the greater of either (1) the Minimum Vested Shares or (2) the number of Shares determined pursuant to the first paragraph in this Exhibit A shall be the number of Shares of Restricted Stock, if any, that vest and shall be rounded to the nearest whole Share (the “Vested Shares”).  For purposes of subsection (2) in the immediately preceding sentence, the Vested Percentage of Restricted Stock in respect of the Net Sales and Adjusted EBITDA Margin performance goals shall be multiplied by the number of Target Shares and the percentage of the Target Shares subject to such performance goal to determine the number of Shares pursuant to the first paragraph in this Exhibit A.  

Unless the Committee or the Board otherwise determines in its sole discretion, for purposes of calculating Net Sales and Adjusted EBITDA, (A) net sales and EBITDA derived from acquisitions shall be included and (B) divestitures of subsidiaries or businesses of Zebra shall be given effect as of the effective date of the divestiture.     
Changes in accounting principles shall be consistently applied.  

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