-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NlBGIo8tU/LRv0xFne+4xuN9CeOc55qYljkA1pIjhfyw21LAKdGcs7hMXEctZe6K 992eFMlMhnlVviJGxtM1rQ== 0001017951-07-000116.txt : 20070330 0001017951-07-000116.hdr.sgml : 20070330 20070330164805 ACCESSION NUMBER: 0001017951-07-000116 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20070326 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070330 DATE AS OF CHANGE: 20070330 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ZAP CENTRAL INDEX KEY: 0001024628 STANDARD INDUSTRIAL CLASSIFICATION: MOTORCYCLES, BICYCLES & PARTS [3751] IRS NUMBER: 943210624 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32534 FILM NUMBER: 07733484 BUSINESS ADDRESS: STREET 1: 501 FOURTH STREET CITY: SANTA ROSA STATE: CA ZIP: 95401 BUSINESS PHONE: 7075258658 MAIL ADDRESS: STREET 1: 501 FOURTH STREET CITY: SANTA ROSA STATE: CA ZIP: 95401 FORMER COMPANY: FORMER CONFORMED NAME: ZAPWORLD COM DATE OF NAME CHANGE: 19990715 FORMER COMPANY: FORMER CONFORMED NAME: ZAP POWER SYSTEMS INC DATE OF NAME CHANGE: 19970319 8-K 1 f8k_032607i502.htm ZAP FORM 8-K DATED MARCH 26, 2007 ZAP Form 8-K dated March 26, 2007


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 30, 2007 (March 26, 2007)

 
ZAP
(Exact name of registrant as specified in its charter)

     
California
001-32534
94-3210624
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)

   
501 Fourth Street
Santa Rosa, CA
95401
(Address of principal executive offices)
(Zip Code)

Registrant’s telephone number, including area code (707) 525-8658
 
not applicable
___________________________________________________________________________________________________________
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 



 
 

 

Item 5.02(c)  Appointment of Certain Officers
 
On March 26, 2007, ZAP appointed Mr. Amos Kazzaz as its Chief Operating Officer.
 
Prior to joining ZAP, Mr. Kazzaz served as Vice President of Cost Management at United Airlines, Inc. where he oversaw United Airline’s operations, process improvement, and cost management. From 2003 to 2006, Mr. Kazzaz served as United Airline’s Vice President of Financial Planning and Analysis during which time he accounted for United Airline’s planning and analysis function and capital budget. From 2002 to 2004, Mr. Kazzaz served as United Airline’s Vice President of the Business Transformation Office, the company’s first enterprise project management office, during which time he was responsible for identifying areas of revenue and cost improvements; concurrently, Mr. Kazzaz served as the Chief Operating Officer at Avolar, a subsidiary of United Airlines. He currently sits on the Boards of Directors of Alliant Credit Union, SkyTech Solutions in India, and Integres. Mr. Kazzaz holds a bachelors degree in International Affairs from the University of Colorado and a Masters in Business Administration from the University of Denver.

ZAP’s Chief Executive Officer, Steven M. Schneider, outlined the terms of Mr. Kazzaz’s employment in a memorandum to Mr. Kazzaz dated March 26, 2007 (the “Memo”). Under the terms of the Memo, Mr. Kazzaz’s initial base salary is $120,000 per annum with a signing bonus of 100,000 shares of ZAP common stock with no vesting period. Such shares are to be returned to ZAP if Mr. Kazzaz’s employment is terminated at the election of either Mr. Kazzaz or ZAP during the first 90 days of his term. Mr. Kazzaz was also granted 1% ESOP stock options that will vest over three years starting from March 25, 2007.  

A definitive employment agreement will be executed by ZAP and Mr. Kazzaz upon successful completion of an initial six month trial period.

Item 9.01 Financial Statements and Exhibits
 
(c) Exhibits.
 
Exh. No.  Description
 
10.1  
ZAP memorandum, dated March 28, 2007, from Steven M. Schneider to Amos Kazzaz regarding Mr. Kazzaz’s employment engagement with ZAP.
 
10.2  
A form of the Press Release regarding Mr. Kazzaz’s employment engagement with ZAP issued March 30, 2007.
 

 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                   
             
ZAP
   
                
 
   
                
 
Date: March 30, 2007
                
By:  /s/ Steven M. Schneider
                   
 
Steven M. Schneider
                   
 
Chief Executive Officer

EX-10.1 2 exh10-1.htm ZAP MEMORANDUM, DATED MARCH 28, 2007, FROM STEVEN M. SCHNEIDER TO AMOS KAZZAZ REGARDING MR. KAZZAZ'S EMPLOYMENT ENGAGEMENT WITH ZAP
Exhibit 10.1
 

501 4th Street
Santa Rosa, CA 95401
707 525-8658
www.zapworld.com 
ZAP! Memo
 
ZAP Memo
 
To: Mr. Amos Kazzaz
 
From: Steven M. Schneider, Chief Executive Officer
 
CC: ZAP board of directors
 
Date: March 30, 2007
 
Re: Employment Engagement with ZAP
 

 
Dear Amos,
 
It is with great pleasure that I welcome you aboard with your new position at ZAP as our Chief Operating Officer. The agreed terms of your employment with ZAP will be outlined as the following:
 
1.  
Title as COO with a review for president in approximately 6 mos
 
2.  
Base Salary of $120,000
 
3.  
Signing bonus of 100,000 shares of ZAP common stock with no vesting period ( shares are to be returned if you leave on your own with in 90 days of your first day in office and likewise are yours to keep should ZAP elect to terminate our relationship with in that same period)
 
4.  
Employment contract to follow after trial period.
 
5.  
1% ESOP stock options that fully vest over 3 years starting from March 26th 2007
 
6.  
Company Car
 
7.  
Temporary company housing
 
8.  
Reasonable relocation costs
 
9.  
Full D&O Coverage as provided to all current officers and directors
 
10.  
Full 401k participation
 
11.  
3 weeks paid vacation plus all Company policy holidays
 
12.  
Company Health insurance (there may be a 90 period I will verify tomorrow)
 
13.  
Temporary commuting expenses.
 

Page 1
 

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

 

Page 2

 
EX-10.2 3 exh10-2.htm A FORM OF THE PRESS RELEASE REGARDING MR. KAZZAZ'S EMPLOYMENT ENGAGEMENT WITH ZAP ISSUED MARCH 30, 2007 A form of the Press Release regarding Mr. Kazzaz's employment engagement with ZAP issued March 30, 2007 Exhibit 10.2

United Airlines President Joins ZAP

SANTA ROSA, California (March 30, 2007) - Former United Airlines President Amos S. Kazzaz has agreed to join electric car pioneer ZAP (OTC BB: ZAAP).
 
ZAP recently started expanding its marketing and distribution with the new XEBRA electric cars and trucks and ZAP CEO Steve Schneider said that Kazzaz's experience with operations and financial planning will be helpful as the Company goes through this transformation. Manufactured through a strategic partnership in China, the XEBRA is now being sold through ZAP's licensed automotive dealer network. ZAP has added employees and new facilities to expand its automotive distribution and recently launched ventures to offer new vehicles, including the OBVIO ! sports cars and ZAP-X Crossover.
 
From 1995 to 1999, Kazzaz served as President of United Shuttle, overseeing the business unit with $1 billion in annual revenues while managing 2000 employees in sales, marketing, fleet management, customer service and finance. Under his direction, sales grew from $400 million to $1 billion while the fleet expanded by 42 percent. Kazzaz pioneered self-service customer check-in for United and won the Advertising Effy Award in 1995 and 1998 for innovative marketing.
 
Prior to joining ZAP, Kazzaz served as Vice President, Cost Management for United Airlines. Reporting directly to the COO, Kazzaz was the leader of United's strategy to improve operations, processes and cost management throughout the organization. Prior to that, Kazzaz served as Vice President, Financial Planning and Analysis for United.
 
Before 2004, Kazzaz was Vice President for FP&A as well as serving as COO for Avolar, a subsidiary of United with a focus on real estate management. He also served as Vice President, Corporate Real Estate for United Airlines global real estate portfolio that included $1 billion in annual revenue.
 
Kazzaz serves on the Supervisory Board of Directors for the Alliant Credit Union as well as on the Board of Directors for SkyTech Solutions and Integres. He holds an MBA in Finance from the University of Denver and a B.A. in International Affairs from the University of Colorado at Boulder.
 
About ZAP
 
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 90,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP is developing a high-performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. The Company recently launched a new
 
 
 

Exhibit 10.2
 
portable energy technology that manages power for mobile electronics, like cell phones and laptops. For more product, dealer and investor information, visit http://www.zapworld.com.
 
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
 

# # #

ZAP

Media
Alex Campbell
707-525-8658 ext. 241
acampbell@zapworld.com 

or

Investors
Sherri Haskell
707-525-8658 ext. 232
shaskell@zapworld.com 
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