<SEC-DOCUMENT>0001206774-15-001270.txt : 20150415
<SEC-HEADER>0001206774-15-001270.hdr.sgml : 20150415
<ACCEPTANCE-DATETIME>20150415080005
ACCESSION NUMBER:		0001206774-15-001270
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20150514
FILED AS OF DATE:		20150415
DATE AS OF CHANGE:		20150415
EFFECTIVENESS DATE:		20150415

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ZEBRA TECHNOLOGIES CORP
		CENTRAL INDEX KEY:			0000877212
		STANDARD INDUSTRIAL CLASSIFICATION:	GENERAL INDUSTRIAL MACHINERY & EQUIPMENT [3560]
		IRS NUMBER:				362675536
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19406
		FILM NUMBER:		15770555

	BUSINESS ADDRESS:	
		STREET 1:		475 HALF DAY ROAD
		STREET 2:		SUITE 500
		CITY:			LINCOLNSHIRE
		STATE:			IL
		ZIP:			60069
		BUSINESS PHONE:		847-634-6700

	MAIL ADDRESS:	
		STREET 1:		475 HALF DAY ROAD
		STREET 2:		SUITE 500
		CITY:			LINCOLNSHIRE
		STATE:			IL
		ZIP:			60069

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZEBRA TECHNOLOGIES Corp
		DATE OF NAME CHANGE:	20090508

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZEBRA TECHNOLOGIES CORP/DE
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>zebra_def14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>

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<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<DIV style="TEXT-ALIGN: center"><FONT style="FONT-FAMILY: Times New Roman" size=2><b>UNITED STATES </b></FONT><br><FONT style="FONT-FAMILY: Times New Roman" size=2><b>SECURITIES AND EXCHANGE COMMISSION<BR>

Washington, D.C. 20549</b></FONT></DIV>
<DIV>&nbsp;</DIV>


<DIV style="TEXT-ALIGN: center"><FONT style="FONT-FAMILY: Times New Roman" size=4><b>SCHEDULE 14A</b></FONT><BR>
<br><FONT style="FONT-FAMILY: Times New Roman" size=2>Proxy Statement Pursuant to Section 14(a) of the Securities <BR>Exchange
Act of 1934 (Amendment No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; )</FONT><FONT style="FONT-FAMILY: Times New Roman">
</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV align=left>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="99%" colSpan=3><FONT style="FONT-FAMILY: times new roman" size=2>Filed by the Registrant
      [X]</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="99%" colSpan=3><FONT style="FONT-FAMILY: times new roman" size=2>Filed by a Party other than
      the Registrant [&nbsp;&nbsp; ]&nbsp; </FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="99%" colSpan=3>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="99%" colSpan=3><FONT style="FONT-FAMILY: times new roman" size=2>Check the appropriate
      box:</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="99%" colSpan=3>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>[&nbsp;&nbsp; ]</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT style="FONT-FAMILY: times new roman" size=2>Preliminary Proxy
      Statement</FONT></TD></TR>
  <TR style="LINE-HEIGHT: normal" vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>[&nbsp;&nbsp; ]</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT style="FONT-FAMILY: times new roman" size=2><B>Confidential, for Use of the
      Commission Only (as permitted by Rule 14a-6(e)(2))</B></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>[X]</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT style="FONT-FAMILY: times new roman" size=2>Definitive Proxy
      Statement</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>[&nbsp;&nbsp; ]</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT style="FONT-FAMILY: times new roman" size=2>Definitive Additional
      Materials</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%" ><FONT size=2>[&nbsp;&nbsp; ]</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" >&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="97%" ><FONT size=2>Soliciting Material Pursuant to &sect;240.14a-12</FONT></TD></TR></TABLE></DIV><BR>
<DIV>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="94%"><FONT style="FONT-FAMILY: times new roman" size=2><STRONG>Zebra Technologies Corporation</STRONG></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" width="3%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" width="94%"><FONT style="FONT-FAMILY: times new roman" size=2>(Name of Registrant as
      Specified In Its Charter)</FONT></TD>
    <TD style="TEXT-ALIGN: center" width="3%">&nbsp;</TD></TR>
  <TR>
    <TD width="3%"></TD>
    <TD width="94%">&nbsp; </TD>
    <TD width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="94%"><FONT style="FONT-FAMILY: times new roman" size=2>&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%">&nbsp;</TD></TR>
  <TR>
    <TD style="TEXT-ALIGN: center" noWrap width="3%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="94%">
      <DIV align=center><FONT style="FONT-FAMILY: times new roman" size=2>(Name
      of Person(s) Filing Proxy Statement, if other than the
      Registrant)</FONT></DIV></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%">&nbsp;</TD></TR></TABLE></DIV><BR>
<DIV>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="100%" colSpan=5><FONT style="FONT-FAMILY: times new roman" size=2>Payment of Filing Fee (Check
      the appropriate box):</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=right width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>[X]</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD vAlign=top noWrap align=left width="98%" colSpan=3><FONT style="FONT-FAMILY: times new roman" size=2>No fee required.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%">
      <DIV><FONT style="FONT-FAMILY: times new roman" size=2><FONT style="FONT-FAMILY: times new roman" size=2>[&nbsp;&nbsp;
      ]</FONT></FONT></DIV></TD>
    <TD vAlign=top align=right width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="98%" colSpan=3>
      <DIV><FONT style="FONT-FAMILY: times new roman" size=2>Fee computed on
      table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%" ></TD>
    <TD vAlign=top align=right width="1%" ></TD>
    <TD vAlign=top align=right width="1%" ></TD>
    <TD vAlign=top align=left width="1%" ></TD>
    <TD vAlign=top align=left width="96%" >&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1pt" vAlign=top align=right width="1%">&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 1pt" vAlign=top align=right width="1%">&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 1pt" vAlign=top align=right width="1%"><FONT size=2>1)</FONT></TD>
    <TD style="PADDING-BOTTOM: 1pt" vAlign=top align=left width="1%">&nbsp;<FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT></TD>
    <TD vAlign=top align=left width="96%"><FONT size=2>Title of each class of
      securities to which transaction applies:</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: left" vAlign=top width="96%"><FONT style="FONT-FAMILY: times new roman" size=2>&nbsp;
      </FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top align=right width="1%"><FONT size=2>2)</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top width="96%"><FONT size=2>Aggregate number of securities to
      which transaction applies:</FONT></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top width="96%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top align=right width="1%"><FONT size=2>3)</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top width="96%" align=justify><FONT size=2>Per unit price or other underlying
      value of transaction computed pursuant to Exchange Act Rule 0-11 (set
      forth the amount on which the filing fee is calculated and state how it
      was determined):</FONT></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top width="96%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top align=right width="1%"><FONT size=2>4)</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top width="96%"><FONT size=2>Proposed maximum aggregate value of transaction:</FONT></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top width="96%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top align=right width="1%"><FONT size=2>5)</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top width="96%"><FONT size=2>Total fee paid:</FONT></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top width="96%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%">
      <DIV><FONT style="FONT-FAMILY: times new roman" size=2><FONT style="FONT-FAMILY: times new roman" size=2>[&nbsp;&nbsp;
      ]</FONT></FONT></DIV></TD>
    <TD vAlign=top align=right width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="98%" colSpan=3>
      <DIV><FONT style="FONT-FAMILY: times new roman" size=2>Fee paid previously
      with preliminary materials.</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%" ></TD>
    <TD vAlign=top align=right width="1%" ></TD>
    <TD vAlign=top align=left width="98%"  colSpan=3>&nbsp;</TD></TR>
  <TR style="LINE-HEIGHT: normal">
    <TD vAlign=top align=right width="1%">
      <DIV><FONT style="FONT-FAMILY: times new roman" size=2><FONT style="FONT-FAMILY: times new roman" size=2>[&nbsp;&nbsp;
      ]</FONT></FONT></DIV></TD>
    <TD vAlign=top align=right width="1%"><FONT style="FONT-FAMILY: times new roman" size=2>&nbsp;</FONT></TD>
    <TD style="TEXT-ALIGN: left" vAlign=top width="98%" colSpan=3>
      <DIV style="TEXT-ALIGN: justify"><FONT style="FONT-FAMILY: times new roman" size=2>Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for
which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or
Schedule and the date of its filing.</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%" ></TD>
    <TD vAlign=top noWrap align=left width="1%" ></TD>
    <TD vAlign=top noWrap align=left width="1%" ></TD>
    <TD vAlign=top noWrap align=left width="1%" ></TD>
    <TD vAlign=top noWrap align=left width="96%" >&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="PADDING-TOP: 4pt" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2>1)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="96%"><FONT style="FONT-FAMILY: times new roman" size=2>Amount Previously
    Paid:</FONT></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="96%">&nbsp;</TD></TR>
  <TR style="PADDING-TOP: 4pt" vAlign=bottom>
    <TD style="PADDING-TOP: 4pt" vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2>2)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="96%"><FONT style="FONT-FAMILY: times new roman" size=2>Form, Schedule or Registration
      Statement No.:</FONT></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="96%">&nbsp;</TD></TR>
  <TR style="PADDING-TOP: 4pt" vAlign=bottom>
    <TD style="PADDING-TOP: 4pt" vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2>3)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="96%"><FONT style="FONT-FAMILY: times new roman" size=2>Filing Party:</FONT></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="96%">&nbsp;</TD></TR>
  <TR style="PADDING-TOP: 4pt" vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2>4)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="96%"><FONT style="FONT-FAMILY: times new roman" size=2>Date Filed:</FONT></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="96%">&nbsp;</TD></TR></TABLE></DIV><BR>
	<HR align=center width="100%" noshade SIZE=2>
        <DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><IMG src="zebra_def14a1x1x1.jpg" border=0></P>
<P align=right><FONT face="Times New Roman" size=2>April 15, 2015 </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>Dear Stockholder:
</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Please join us for the
Zebra Technologies Corporation 2015 Annual Meeting of Stockholders. We will hold
the meeting at 10:30 a.m., Eastern Time, on Thursday, May 14, 2015, at the Hyatt
Regency Long Island at Wind Watch Golf Club, 1717 Motor Parkway, Hauppauge, New
York 11788.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>At the annual meeting,
stockholders will be asked to vote on each of the five proposals set forth in
the Notice of Annual Meeting of Stockholders and the Proxy Statement, which
describe the formal business to be conducted at the annual meeting and follow
this letter.</FONT><B><FONT face="Times New Roman" size=2> </FONT></B><FONT face="Times New Roman" size=2></FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Your vote on the matters to
be considered at the annual meeting is important, regardless of the size of your
holdings. You may vote by marking, dating, signing and returning the enclosed
proxy card in the envelope provided. Also, most registered and most beneficial
stockholders may vote by toll-free telephone in the U.S. or Canada, or over the
Internet by following the instructions on the enclosed proxy card. We urge you
to vote your shares as soon as possible. In this way, you can ensure your shares
will be represented and voted at the meeting, and you will spare Zebra the
expense of a follow-up mailing. Even if you vote before the meeting you may
still attend the meeting and vote in person. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>Sincerely, </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD noWrap align=left width="46%"><IMG src="zebra_def14a1x1x2.jpg" border=0></TD>
    <TD noWrap align=left width="53%"><IMG src="zebra_def14a1x1x3.jpg" border=0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="46%"><FONT face="Times New Roman" size=2>Michael A. Smith</FONT></TD>
    <TD noWrap align=left width="53%"><FONT face="Times New Roman" size=2>Anders Gustafsson</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="46%"><FONT face="Times New Roman" size=2>Chairman</FONT></TD>
    <TD noWrap align=left width="53%"><FONT face="Times New Roman" size=2>Chief Executive Officer</FONT></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face=Arial size=4>Zebra Technologies Corporation
</FONT></B></P>
<P align=center><FONT face="Times New Roman">Three Overlook
Point<BR>Lincolnshire, Illinois 60069<BR></FONT><FONT face="Times New Roman" size=2>(847) 634-6700</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=4>Notice of Annual Meeting
of Stockholders<BR>To be Held on May 14, 2015 </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2>To the Stockholders of
Zebra Technologies Corporation: </FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>The Annual Meeting of
Stockholders of Zebra Technologies Corporation will be held at 10:30 a.m.,
Eastern Time, on Thursday, May 14, 2015, at the Hyatt Regency Long Island at
Wind Watch Golf Club, 1717 Motor Parkway, Hauppauge, New York 11788, for the
following purposes:</FONT></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(1)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">To elect two Class I directors with terms to
      expire in 2018;</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(2)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">To hold an advisory vote to approve the
      compensation of our named executive officers;</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(3)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">To approve our 2015 Short-Term Incentive
    Plan;</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(4)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">To approve our 2015 Long-Term
      Incentive Plan;</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(5)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">To ratify the appointment by our
      Audit Committee of Ernst &amp; Young LLP as our independent auditors for
      2015; and</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(6)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">To conduct other business if
      properly presented.</TD></TR></TABLE>
<P STYLE="text-align: left; text-indent: 15pt"><FONT face="Times New Roman" size=2>The proxy statement more
fully describes the proposals. Only holders of record of common stock at the
close of business on March 24, 2015, are entitled to vote at the meeting.
</FONT></P>
<DIV align=right>
<TABLE style="LINE-HEIGHT: 16pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR>
    <TD noWrap align=left width="100%"><IMG src="zebra_def14a1x2x1.jpg" border=0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Jim
      Kaput<BR><EM>Corporate Secretary</EM></FONT></TD></TR></TABLE></DIV><BR>
<P align=justify style="line-height: 16pt"><FONT face="Times New Roman" size=2>Lincolnshire,
Illinois<BR>April 15, 2015</FONT></P>
<DIV align=right>
<TABLE style="border-collapse:collapse; text-align: right;" cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR>
    <TD align=left width="100%"><STRONG><FONT size=2 face="Times New Roman">Important Notice Regarding the
      Availability of Proxy Materials for the Stockholder <BR>Meeting to be Held on
      May 14, 2015</FONT></STRONG></TD></TR></TABLE><BR></DIV>
<DIV align=right>
<TABLE style="border-collapse:collapse; text-align: right;" cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR>
    <TD align=left width="100%"><STRONG><FONT size=2 face="Times New Roman">Our proxy statement and 2014 Annual
      Report to Stockholders are available at: <BR><B><U><FONT face="Times New Roman" size=2>https://materials.proxyvote.com/989207</FONT></U></B></FONT></STRONG></TD></TR></TABLE></DIV><BR>

<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_024"></A>Table of Contents
</FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_001">Questions and Answers about the Annual Meeting and These Proxy Materials</A></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_001">1</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2><A HREF="#a_002">Corporate Governance</A></FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2><A HREF="#a_002">6</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_003">Proposal 1 - Election of Directors</A></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_003">11</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2><A HREF="#a_004">Board and Committees of the Board</A></FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2><A HREF="#a_004">14</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_005">Director Compensation</A></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_005">16</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2><A HREF="#a_006">Compensation Committee Report</A></FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2><A HREF="#a_006">18</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_007">Executive Summary - Compensation Discussion and Analysis</A></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_007">18</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2><A HREF="#a_008">Compensation Discussion and Analysis</A></FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2><A HREF="#a_008">21</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_009">Executive Compensation</A></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_009">34</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2><A HREF="#a_010">Equity Compensation Plan Information</A></FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2><A HREF="#a_010">46</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_011">Compensation Committee Interlocks and Insider Participation</A></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_011">46</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2><A HREF="#a_012">Proposal 2 - Advisory Vote to Approve Compensation of Named Executive Officers</A></FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2><A HREF="#a_012">47</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_013">Proposal 3 - Approval of 2015 Short-Term Incentive Plan</A></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_013">48</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2><A HREF="#a_014">Proposal 4 - Approval of 2015 Long-Term Incentive Plan</A></FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2><A HREF="#a_014">51</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_015">Report of the Audit Committee</A></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_015">57</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2><A HREF="#a_016">Fees of Independent Auditors</A></FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2><A HREF="#a_016">58</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_017">Proposal 5 - Ratification of Appointment of Independent Auditors</A></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_017">59</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2><A HREF="#a_018">Executive Officers</A></FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2><A HREF="#a_018">60</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_019">Ownership of Our Common Stock</A></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_019">62</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2><A HREF="#a_020">Section 16(a) Beneficial Ownership Reporting Compliance</A></FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2><A HREF="#a_020">63</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_021">Stockholder Proposals and Other Business</A></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_021">63</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2><A HREF="#a_022">Exhibit A - 2015 Short-Term Incentive Plan</A></FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2><A HREF="#a_022">A-1</A></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_023">Exhibit B - 2015 Long-Term Incentive Plan</A></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><A HREF="#a_023">B-1</A></FONT></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face=Arial size=4>Zebra Technologies Corporation
</FONT></B></P>
<P align=center><FONT face="Times New Roman" size=2>Three Overlook
Point<BR>Lincolnshire, Illinois 60069 </FONT></P>
<P align=center><B><FONT face="Times New Roman">Proxy
Statement<BR></FONT></B><B><FONT face="Times New Roman">Annual Meeting of
Stockholders<BR></FONT></B><B><FONT face="Times New Roman">May 14, 2015
</FONT></B><FONT face="Times New Roman"></FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>We are providing you with
these proxy materials in connection with the solicitation by Zebra&#146;s Board of
Directors of proxies for our 2015 Annual Meeting of Stockholders. We will hold
the annual meeting at 10:30 a.m., Eastern Time, on Thursday, May 14, 2015, at
the Hyatt Regency Long Island at Wind Watch Golf Club, 1717 Motor Parkway,
Hauppauge, New York 11788.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>We mailed this proxy
statement and proxy card to stockholders on or about April 15, 2015.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>This proxy statement
contains important information regarding our annual meeting, the proposals on
which you are being asked to vote, information you may find useful in
determining how to vote, and information about voting procedures. As used
herein, &#147;we,&#148; &#147;us,&#148; &#147;our,&#148; &#147;Zebra&#148; or the &#147;Company&#148; refers to Zebra Technologies
Corporation.</FONT></P>
<P align=center><A NAME="a_001"></A><B><FONT face="Times New Roman" size=2>Questions and Answers
about the Annual Meeting and These Proxy Materials </FONT></B></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>What matters will be
voted on at the annual meeting?<BR></FONT></I></B><FONT face="Times New Roman" size=2>The following matters will be voted on at the meeting:</FONT></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: left" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Proposal 1: To elect two Class I directors with
      terms to expire in 2018;</TD></TR>
<TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Proposal 2: To hold an advisory vote to approve
      the compensation of our named executive officers;</TD></TR>
<TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Proposal 3: To approve our 2015 Short-Term
      Incentive Plan;</TD></TR>
<TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Proposal 4: To approve our 2015
      Long-Term Incentive Plan;</TD></TR>
<TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Proposal 5: To ratify the
      appointment by our Audit Committee of Ernst &amp; Young LLP as our
      independent auditors for 2015</TD></TR>
<TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Such other business if properly
      presented or any adjournment or postponement of the annual
  meeting.</TD></TR></TABLE><BR>
<P align=justify><B><I><FONT face="Times New Roman" size=2>How does the Board of
Directors recommend that I vote?<BR></FONT></I></B><FONT face="Times New Roman" size=2>Zebra&#146;s Board recommends that you vote:</FONT></P>
<TABLE style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: left" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR style="line-height: normal">
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">FOR the election of the two individuals
      nominated by our Board and named in this proxy statement as Class I
      Directors for a three-year term expiring in 2018;</TD></TR>
<TR STYLE="line-height: normal">
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">FOR the approval, on an advisory basis, of the
      compensation of our named executive officers;</TD></TR>
<TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">FOR approval of the 2015 Short-Term Incentive
      Plan;</TD></TR>
<TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">FOR approval of the 2015
      Long-Term Incentive Plan;</TD></TR>
<TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">FOR ratification of the
      appointment by our Audit Committee of Ernst &amp; Young LLP as our
      independent auditors for 2015.</TD></TR></TABLE><BR>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Will there be any
other items of business on the agenda? <BR></FONT></I></B><FONT face="Times New Roman" size=2>If any other items of business or other matters
are properly brought before the annual meeting, your proxy gives discretionary
authority to the persons named on the proxy card with respect to those items of
business or other </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>1</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>matters. The persons named
on the proxy card intend to vote the proxy in accordance with their best
judgment. Because the deadlines for stockholder proposals and nominations have
passed, we do not expect any items of business to be brought before the annual
meeting other than the items described in this proxy statement.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Who is entitled to
vote at the annual meeting?<BR></FONT></I></B><FONT face="Times New Roman" size=2>Holders of our Class A common stock at the close of business on March 24,
2015, the record date, may vote at the meeting. We refer to the holders of our
Class A common stock as &#147;stockholders&#148; throughout this proxy statement. Each
stockholder is entitled to one vote for each share of Class A common stock held
as of the record date.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>What is the
difference between holding shares as a stockholder of record and as a beneficial
owner?<BR></FONT></I></B><FONT face="Times New Roman" size=2>You may own shares
directly in your name as a stockholder of record, which includes shares for
which you have certificates. If your shares are registered directly in your
name, you are the </FONT><B><FONT face="Times New Roman" size=2>holder of
record</FONT></B><FONT face="Times New Roman" size=2> of those shares, and we
are sending these proxy materials directly to you. As the holder of record, you
have the right to give your voting proxy directly to us or to vote in person at
the meeting. </FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>You may also own shares
indirectly through a broker, bank or other holder of record. If you hold your
shares indirectly, you hold the shares in &#147;street name&#148; and are a
</FONT><B><FONT face="Times New Roman" size=2>beneficial holder</FONT></B><FONT face="Times New Roman" size=2>, and your broker, bank or other holder of record
sent these proxy materials to you. As a beneficial holder, you have the right to
direct your broker, bank or other holder of record how to vote by completing a
voting instruction form. </FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Do I have to do
anything in advance if I plan to attend the annual meeting in person?
<BR></FONT></I></B><FONT face="Times New Roman" size=2>An individual who is a
beneficial owner of Class A common stock must bring to the meeting a legal proxy
from the organization that holds the shares or a brokerage statement showing
ownership of shares as of the close of business on the record date.
Representatives of institutional stockholders must bring a legal proxy or other
proof that they are representatives of a firm that held shares as of the close
of business on the record date and are authorized to vote on behalf of the
institution.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Do I have electronic
access to the proxy materials and annual report?</FONT></I></B><I><FONT face="Times New Roman" size=2> <BR></FONT></I><FONT face="Times New Roman" size=2>For </FONT><B><FONT face="Times New Roman" size=2>holders of
record</FONT></B><FONT face="Times New Roman" size=2>, we are pleased to offer
the opportunity to receive stockholder communications electronically. By signing
up for electronic delivery of documents such as our annual report and the proxy
statement, you can access stockholder communications as soon as they are
available without waiting for them to arrive in the mail. Holders of record can
also reduce the number of documents in their personal files, eliminate duplicate
mailings, conserve natural resources, and help reduce our printing and mailing
costs. If you are a holder of record and would like to receive stockholder
communications electronically in the future, please contact Computershare at
877-870-2368 or 201-680-6578. Enrollment is effective until canceled.
</FONT></P>
<P STYLE="text-align: left"><B><FONT face="Times New Roman" size=2>Beneficial
holders</FONT></B><FONT face="Times New Roman" size=2> should refer to the
information provided by the broker, bank or other institution that is the holder
of record for instructions on how to elect to receive proxy statements and
annual reports over the Internet. Most stockholders who hold their stock through
a broker, bank or other holder of record and who have electronic access will
receive an e-mail message containing the Internet address to use to access our
proxy statement and annual report.</FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>How do I vote my
shares?</FONT></I></B><I><FONT face="Times New Roman" size=2>
<BR></FONT></I><FONT face="Times New Roman" size=2>Your vote is important. We
encourage you to vote promptly, which may save us the expense of a second
mailing. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>If you are a
</FONT><B><FONT face="Times New Roman" size=2>holder of record</FONT></B><FONT face="Times New Roman" size=2>, you may vote your shares in any of the following
ways: </FONT></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: left" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">by telephone &#150; You may vote your shares by
      calling the toll-free telephone number on your proxy card. You may vote by
      telephone 24 hours a day through 11:59 p.m., Eastern Time, on May 13,
      2015. The telephone voting system has easy-to-follow instructions and
      allows you to confirm that the system has properly recorded your vote. If
      you vote by telephone, you do not need to return your proxy card.</TD></TR>
    <TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">over the Internet &#150; You may vote your shares
      via the website <I><FONT face="Times New Roman" size=2>http://www.proxyvote.com</FONT></I><FONT face="Times New Roman" size=2>.
      You may vote over the Internet 24 hours a day through 11:59 p.m., Eastern
      Time, May 13, 2015. As with telephone voting, you may confirm that the
      system has properly recorded your vote. If you vote over the Internet,
      you</FONT></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>2</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt"></FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">do not need to return your proxy card. You may
      incur costs such as telephone and Internet access charges if you vote over
      the Internet.</TD></TR>
    <TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">by mail &#150; You may vote your shares by marking,
      dating and signing your proxy card and returning it by mail in the
      enclosed postage-paid envelope.</TD></TR>
    <TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">in person at the annual meeting &#150;
      If you choose not to vote by telephone, over the Internet or by mail, you
      may still attend the meeting and vote in person. If you vote prior to the
      meeting, you may still attend the meeting and vote in
person.</TD></TR></TABLE><BR>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>If you are a
</FONT><B><FONT face="Times New Roman" size=2>beneficial holder</FONT></B><FONT face="Times New Roman" size=2>, the instructions that accompany your proxy
materials will indicate whether you may vote by telephone, over the Internet or
by mail. If you wish to attend the meeting and vote in person, you must bring a
legal proxy from the organization that holds the shares or a brokerage statement
showing ownership of shares as of the close of business on the record
date.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Can I revoke or
change my vote after I submit my proxy? <BR></FONT></I></B><FONT face="Times New Roman" size=2>If you are the </FONT><B><FONT face="Times New Roman" size=2>holder of record</FONT></B><FONT face="Times New Roman" size=2>, you may revoke your proxy at any time before
your shares are voted if you (1) submit a written revocation to our Corporate
Secretary, (2) submit a later-dated proxy to our Corporate Secretary, (3)
provide subsequent telephone or Internet voting instructions, or (4) vote in
person at the meeting. If you are a </FONT><B><FONT face="Times New Roman" size=2>beneficial owner </FONT></B><FONT face="Times New Roman" size=2>of
shares, you must contact the broker or other nominee holding your shares and
follow their instructions for changing your vote. </FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>What will happen if I
do not vote my shares? <BR></FONT></I></B><FONT face="Times New Roman" size=2>If
you are the </FONT><B><FONT face="Times New Roman" size=2>holder of
record</FONT></B><FONT face="Times New Roman" size=2> and you do not vote by
proxy card, by telephone, via the Internet or in person at the annual meeting,
your shares will not be voted at the annual meeting.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>If you are a
</FONT><B><FONT face="Times New Roman" size=2>beneficial owner</FONT></B><FONT face="Times New Roman" size=2> of shares and you do not provide the broker or
other nominee that holds your shares with voting instructions, the broker or
nominee may vote your shares only on those proposals on which it has discretion
to vote. Under the rules of the New York Stock Exchange (&#147;NYSE&#148;), your broker or
nominee does not have discretion to vote your shares on non-routine matters such
as Proposals 1, 2, 3 and 4. However, your broker or nominee does have discretion
to vote your shares on routine matters such as Proposal 5. In the absence of
instructions, shares subject to &#147;broker non-votes&#148; will not be counted as voted
or as present or represented on the proposal.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>What if I do not
specify how my shares are to be voted?</FONT></I></B><FONT face="Times New Roman" size=2> <BR></FONT><FONT face="Times New Roman" size=2>Our Board has appointed Douglas A. Fox and Jim L. Kaput to serve as the
proxy committee for the meeting. Mr. Fox is Vice President, Investor Relations,
of Zebra. Mr. Kaput is Senior Vice President, General Counsel and Corporate
Secretary, of Zebra. By giving us your proxy, you are authorizing the proxy
committee to vote your shares in the manner you indicate.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>If you are a
</FONT><B><FONT face="Times New Roman" size=2>holder of record</FONT></B><FONT face="Times New Roman" size=2> and you submit a proxy, but you do not provide
voting instructions, your shares will be voted:</FONT></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">FOR the election of the two individuals nominated by our
      Board and named in this proxy statement as Class I Directors to serve for
      a three-year term expiring in 2018;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt"></FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left"><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">FOR the approval, on an advisory basis, of the
      compensation of our named executive officers (Proposal 2);</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left"><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">FOR approval of the 2015 Short-Term Incentive Plan
      (Proposal 3);</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left"><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">FOR approval of the 2015 Long-Term Incentive Plan
      (Proposal 4);</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left"><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">FOR ratification of the appointment by our Audit
      Committee of Ernst &amp; Young LLP as our independent auditors for 2015
      (Proposal 5);</TD></TR>
  <TR>
    <TD vAlign=top width="1%"><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left"></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">In the discretion of the named proxies regarding any
      other matters properly presented for a vote at the annual
  meeting.</TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>3</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>If you are a
</FONT><B><FONT face="Times New Roman" size=2>beneficial owner</FONT></B><FONT face="Times New Roman" size=2> and you do not provide the broker or other
nominee that holds your shares with voting instructions, the broker or other
nominee will determine if it has the discretionary authority to vote on the
particular matter. Under the NYSE&#146;s rules, brokers and other nominees have the
discretion to vote on routine matters such as Proposal 5, but do not have
discretion to vote on non-routine matters such as Proposals 1, 2, 3 and 4. If
you do not provide voting instructions to your broker or other nominee, your
broker or other nominee may only vote your shares on Proposal 5 and any other
routine matters properly presented for a vote at the meeting.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>What constitutes a
quorum, and why is a quorum required? <BR></FONT></I></B><FONT face="Times New Roman" size=2>A quorum is necessary to hold a valid meeting of
stockholders. If stockholders of a majority of the voting power of the stock
issued and outstanding and entitled to vote at the meeting are present in person
or by proxy, a quorum will exist. Shares owned by Zebra are not voted and do not
count for quorum purposes. On March 24, 2015, we had 51,795,052 shares of Class
A common stock outstanding, meaning that 25,897,527 shares of Class A common
stock must be represented in person or by proxy to have a quorum. Your shares
will be counted towards the quorum if you submit a proxy or vote at the meeting.
Abstentions and broker non-votes will also count towards the quorum requirement.
If there is not a quorum, a majority of the shares present at the meeting may
adjourn the meeting to a later date.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>To assure the presence of a
quorum at the meeting, please vote your shares by toll-free telephone or over
the Internet or complete, sign and date our proxy card and return it promptly in
the enclosed postage-paid envelope, even if you plan to attend the
meeting.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>What is the effect of
a broker non-vote? <BR></FONT></I></B><FONT face="Times New Roman" size=2>Brokers or other nominees who hold shares of our Class A common stock for
a beneficial owner have the discretion to vote on routine proposals when they
have not received voting instructions from the beneficial owner at least ten
days prior to the meeting. A broker non-vote occurs when a broker or other
nominee does not receive voting instructions from the beneficial owner and does
not have the discretion to direct the voting of the shares. Broker non-votes
will be counted for purposes of calculating whether a quorum is present at the
meeting. Thus, a broker non-vote will not affect our ability to obtain a quorum.
Broker non-votes will not have any effect on the outcome of any proposal to be
voted on at the meeting.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>What is the vote
required for each proposal? <BR></FONT></I></B><FONT face="Times New Roman" size=2>Nominees for director are elected by a plurality of the votes cast;
however, each nominee who is elected by a plurality vote who does not receive a
majority vote will have his or her resignation from the Board considered in
accordance with Zebra&#146;s Corporate Governance Guidelines. A &#147;majority vote&#148; means
that the number of votes cast in favor of a nominee must exceed the number of
votes withheld with respect to that nominee. In 2013, the Board amended Zebra&#146;s
Amended and Restated By-Laws and Corporate Governance Guidelines to implement a
resignation process with respect to uncontested elections of directors if a
nominee does not receive a majority vote for election to the Board. Prior to the
mailing of Zebra&#146;s proxy statement, each nominee for director submits a binding
but contingent letter of resignation. A director who is then elected by a
plurality vote but who does not receive a majority vote will have his or her
resignation considered by the Nominating Committee in light of the best
interests of Zebra and its stockholders. The Nominating Committee will make a
recommendation to the Board concerning the acceptance or rejection of the
resignation(s).</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>4</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>In any contested election,
nominees for director will continue to be elected by a plurality of the votes
cast without a contingent resignation to be considered by the Board conditioned
on receipt of a majority vote. A &#147;contested election&#148; means an election of
directors (i) for which the Corporate Secretary of Zebra has received a notice
that a stockholder has nominated a person for election to the Board in
compliance with Zebra&#146;s Amended and Restated By-Laws and (ii) such nomination
has not been withdrawn at least five days prior to the date Zebra first mails
the notice of meeting to stockholders. Neither abstentions nor broker non-votes
count as votes cast. </FONT></P>
<TABLE style="PADDING-RIGHT: 2pt; PADDING-LEFT: 2pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="33%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="23%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Broker</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="33%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="23%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Discretionary</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="44%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Proposal</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Vote Required</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="23%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Voting Allowed</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=left width="44%"><FONT face="Times New Roman" size=2>Proposal 1 &#150; Election of two Class I directors
      with terms to expire in 2018</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=left width="33%"><FONT face="Times New Roman" size=2>Plurality of votes cast with resignation
      process if majority vote not achieved</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=center width="23%"><FONT face="Times New Roman" size=2>No</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=left width="44%"><FONT face="Times New Roman" size=2>Proposal 2 &#150; Advisory vote to approve named
      executive officer compensation</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=left width="33%"><FONT face="Times New Roman" size=2>Majority of the votes cast affirmatively or
      negatively</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=CENTER width="23%"><FONT face="Times New Roman" size=2>No</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=left width="44%"><FONT face="Times New Roman" size=2>Proposal 3 &#150; Approve our 2015 Short-Term
      Incentive Plan</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=left width="33%"><FONT face="Times New Roman" size=2>Majority of the votes cast affirmatively or
      negatively</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=CENTER width="23%"><FONT face="Times New Roman" size=2>No</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=left width="44%"><FONT face="Times New Roman" size=2>Proposal 4 &#150; Approve our 2015 Long-Term
      Incentive Plan</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=left width="33%"><FONT face="Times New Roman" size=2>Majority of the votes cast affirmatively or
      negatively</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=CENTER width="23%"><FONT face="Times New Roman" size=2>No</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=left width="44%"><FONT face="Times New Roman" size=2>Proposal 5 &#150; Ratify the appointment of Ernst
      &amp; Young LLP as our independent auditors for 2015</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=left width="33%"><FONT face="Times New Roman" size=2>Majority of the votes cast affirmatively or
      negatively</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=middle align=CENTER width="23%"><FONT face="Times New Roman" size=2>Yes</FONT></TD></TR></TABLE><BR>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>With respect to Proposal 1,
you may vote FOR all nominees, WITHHOLD your vote as to all nominees, or vote
FOR all nominees except those specific nominees from whom you WITHHOLD your
vote. The two nominees receiving the most FOR votes will be elected. A properly
executed proxy that is marked WITHHOLD with respect to the election of one or
more directors will not be voted with respect to the director or directors
indicated. Proxies may not be voted for more than two nominees for director and
stockholders may not cumulate votes in the election of directors.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>With respect to Proposals
2, 3, 4 and 5, you may vote FOR, AGAINST or ABSTAIN. If you ABSTAIN from voting
on any of these proposals, your abstention will not affect the vote on the
proposal since the proposal requires approval of a majority of the votes cast
affirmatively or negatively.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>What happens if the
annual meeting is adjourned or postponed? <BR></FONT></I></B><FONT face="Times New Roman" size=2>Your proxy will still be effective and will be
voted at the rescheduled annual meeting. You will still be able to change or
revoke your proxy until it is voted.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Who is paying for the
costs of this proxy solicitation? <BR></FONT></I></B><FONT face="Times New Roman" size=2>We will bear the expense of soliciting proxies. We
have retained Alliance Advisors LLC to solicit proxies for a fee of $16,500 plus
a reasonable amount to cover expenses. Proxies may also be solicited in person,
by telephone or electronically by Zebra personnel who will not receive
additional compensation for such solicitation. Copies of proxy materials and the
Annual Report will be supplied to brokers and other nominees for the purpose of
soliciting proxies from beneficial owners, and we will reimburse such brokers or
other nominees for their reasonable expenses.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>How can I find the
results of the annual meeting? <BR></FONT></I></B><FONT face="Times New Roman" size=2>Preliminary results will be announced at the meeting. Results also will
be published in a current report on Form 8-K to be filed with the Securities and
Exchange Commission within four business days after the meeting. If the official
results are not available at that time, we will provide preliminary voting
results in the Form 8-K and will provide the final results in an amendment to
the Form 8-K as soon as they become available.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>5</FONT></P>
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<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_002"></A>Corporate
Governance</FONT></B></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Corporate Governance
Guidelines<BR></FONT></I></B><FONT face="Times New Roman" size=2>Zebra&#146;s primary
objective is to maximize stockholder value over the long term. Our Board of
Directors believes that sound governance practices and policies provide an
important framework to assist the Board in fulfilling its duty to stockholders.
The Board reviews Zebra&#146;s Corporate Governance Guidelines from time to time and
modifies the Guidelines to reflect sound corporate governance policies and
practices. Our Corporate Governance Guidelines are available on Zebra&#146;s website
at </FONT><I><FONT face="Times New Roman" size=2>http://www.zebra.com</FONT></I><FONT face="Times New Roman" size=2> under
&#147;About Zebra-Investor Relations-Governance-Governance Documents.&#148;</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Director Candidates
and Diversity <BR></FONT></I></B><FONT face="Times New Roman" size=2>The
Nominating Committee of our Board of Directors is responsible for identifying
individuals qualified to serve as directors, recommending candidates, and
assisting the Board in discharging its responsibilities relating to the
governance of Zebra.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Consideration of Board
candidates typically involves a series of internal discussions, review of the
qualifications of candidates, and interviews with selected candidates. The
Committee may use the services of a search firm to identify director candidates.
Board members or management may also suggest candidates for nomination to the
Board. The Committee also considers candidates suggested by stockholders and
individual self-nominations. The Committee does not evaluate proposed candidates
differently based on the source of the proposed candidate. A stockholder seeking
to recommend a prospective nominee for the Committee&#146;s consideration should
submit the candidate&#146;s name and qualifications to Zebra&#146;s Corporate Secretary
at: Three Overlook Point, Lincolnshire, Illinois 60069. The Committee did not
receive any stockholder suggestions for director candidates to be considered for
election to the Board at the 2015 annual meeting. Stockholders who wish to
nominate a director for election at an annual meeting of stockholders of Zebra
must comply with our Amended and Restated By-Laws regarding stockholder
proposals and nominations.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>The Nominating Committee
considers a diverse set of criteria when evaluating Board candidates. The
Committee believes that Board candidates must exhibit certain minimum
characteristics: sound judgment and an even temperament, high ethical standards,
and a healthy view of the relative responsibilities of a board member and
management. Board members should be independent thinkers, articulate and
intelligent, and have a commitment of time and attention to Zebra&#146;s business.
The Committee&#146;s Charter also sets forth other criteria that the Committee
considers important, including experience as a board member of another publicly
traded company, experience in industries, global businesses or with technologies
relevant to Zebra, accounting or financial reporting experience, meeting the
independence standards for directors established by NASDAQ and the Securities
and Exchange Commission, and race, gender, nationality and ethnicity of a
candidate to support diversity. Finally, with respect to directors who may be
nominated for re-election, the Committee may consider criteria such as whether
the director represents stockholder interests in deliberations before the Board,
demonstrates loyalty to Zebra, attends meetings regularly, keeps abreast of
corporate and industry changes, prepares effectively for meetings with Board
members and senior management, communicates effectively at Board and Committee
meetings and with senior management, supports the deliberative process as a team
member (e.g., courteous, respectful, constructive), challenges the Board and
management to set and achieve goals, and/or possesses special characteristics
that contribute to effectiveness as a Board member. Each year the Committee
reviews the performance of current directors whose terms will expire at the
upcoming annual meeting of stockholders, as well as the qualifications of any
candidates for election to the Board.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Independence of
Directors <BR></FONT></I></B><FONT face="Times New Roman" size=2>Under our
Corporate Governance Guidelines and NASDAQ listing rules, a majority of our
directors must be independent. Under NASDAQ listing rules, a director does not
qualify as independent unless the board affirmatively determines that the
director has no relationship which, in the opinion of the Board, would interfere
with the exercise of independent judgment in carrying out the responsibilities
of a director. NASDAQ listing rules also provide that a director is not
independent if (1) the director has been employed by Zebra in the last three
years; (2) the director or an immediate family member has received, during any
12-month period in the last three years, more than $120,000 in compensation from
Zebra (other than director and committee fees and pensions or other forms of
deferred compensation for prior service); (3) an immediate family member has
been employed as an executive officer of Zebra in the last three years; (4) the
director or an immediate family member is a partner, controlling stockholder, or
</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>6 </FONT></P>
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<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>an executive officer of an
organization to which Zebra made, or from which Zebra received, payments for
property or services in any of the years 2012, 2013 and 2014 that exceed the
greater of $200,000 or 5% of the recipient&#146;s consolidated gross revenues for
that year; (5) the director or an immediate family member is employed as an
executive officer of another entity where at any time during the past three
years any Zebra executive officer served (or serves) on the compensation
committee of the other entity; or (6) the director or an immediate family member
is a partner of Zebra&#146;s independent auditor or the director or an immediate
family member was a partner or employee of Zebra&#146;s independent auditor who
worked on Zebra&#146;s audit in 2012, 2013 or 2014.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>In February 2015, the
Nominating Committee reviewed the independence of all directors and reported to
the Board. The Board determined that each of Richard Keyser, Andrew Ludwick,
Ross Manire, Frank Modruson, Dr. Robert J. Potter, Janice Roberts, and Michael
Smith has no relationship that would interfere with the exercise of independent
judgment in carrying out the responsibilities of a director. The Nominating
Committee also determined that each director, except Anders Gustafsson, our
Chief Executive Officer, and Gerhard Cless, our Executive Vice President, is
independent under NASDAQ listing rules. The Board further determined that each
member of the Audit Committee meets the independence requirements under NASDAQ
listing rules and the rules of the Securities and Exchange Commission; each
member of the Compensation Committee meets the independence requirements under
NASDAQ listing rules, the non-employee director requirements of the rules of the
Securities and Exchange Commission and the outside director requirements under
the Internal Revenue Code; and each member of the Nominating Committee meets the
independence requirements under NASDAQ listing rules. </FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Communications with
the Board <BR></FONT></I></B><FONT face="Times New Roman" size=2>A stockholder
who would like to contact our Board may do so by writing to our Corporate
Secretary at Three Overlook Point, Lincolnshire, Illinois 60069. Communications
received in writing will be distributed to the appropriate members of the Board,
depending on the content of the communication received. </FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Board
Functions<BR></FONT></I></B><FONT face="Times New Roman" size=2>One of the
primary functions of a board of directors is to oversee senior management and
the conduct of the business of the corporation, including holding the chief
executive officer and senior management accountable for performance.
Consequently, Zebra&#146;s Board of Directors believes that a majority of the Board
should be independent from management to provide an objective view and
evaluation of management and business performance. A primary responsibility of
Zebra&#146;s Board is to select the Chief Executive Officer and, upon the
recommendation of the CEO, to appoint other executive officers who report to the
CEO. The Board also plans for succession to the position of CEO as well as
certain other senior management positions. Other responsibilities of the Board
include determining the compensation and benefits of the CEO, oversight of
strategy and risk, approving material corporate policies and budgets, approving
material investments, expenditures and transactions not in the ordinary course
of business, ensuring the transparency of disclosures and financial controls,
planning for and handling corporate crises, oversight of government and
community relations, and setting an appropriate tone of integrity and
compliance. </FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Board Leadership
Structure<BR></FONT></I></B><FONT face="Times New Roman" size=2>The independent
members of a board may be led by an independent chairman of the board or, when
the roles of the chairman and chief executive officer are combined, by an
independent lead director. Michael Smith, who serves as Chairman, leads Zebra&#146;s
independent directors. Mr. Smith has served as a director since 1991 and as our
Chairman since 2007. This structure allows our CEO, Mr. Gustafsson, to focus on
the strategic, operational, and financial matters necessary to operate Zebra&#146;s
business. Mr. Smith provides an independent leadership that reflects his
experience with Zebra and the operation and history of the Board. As Chairman,
Mr. Smith presides at all meetings of stockholders and of the Board, including
executive sessions of the whole Board and of the independent
directors.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Committee
Charters<BR></FONT></I></B><FONT face="Times New Roman" size=2>Each of the three
standing Committees of the Board periodically reviews the adequacy of its
Charter, which sets forth the authority of the Committee and its duties and
responsibilities. The Board reviewed and approved changes to the Charters of the
Audit Committee, Compensation Committee and Nominating Committee in May 2013 to
conform the charters to new NASDAQ requirements and retain consistency among the
language of the Charters and administration of the Committees. In March 2015,
the Board established the Information Technology Committee. The Information
Technology Committee currently is not intended to be a standing committee of the
Board. A copy of each Committee Charter is available on Zebra&#146;s website at
</FONT><I><FONT face="Times New Roman" size=2>http://www.zebra.com</FONT></I><FONT face="Times New Roman" size=2> under
&#147;About Zebra-Investor Relations-Governance-Governance Documents.&#148;</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>7</FONT></P>
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<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Access to Management
and Advisers<BR></FONT></I></B><FONT face="Times New Roman" size=2>Each director
has access to Zebra&#146;s management and advisers. The Board and its Committees have
the right to consult and retain independent legal, financial, accounting and
other advisers, as they determine necessary or appropriate to carry out their
duties, at Zebra&#146;s expense. </FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Executive Sessions
and Chairman<BR></FONT></I></B><FONT face="Times New Roman" size=2>The Board and
its Committees regularly meet in executive session with and without directors
who are also officers of Zebra, such as the CEO. Chairman Michael Smith chairs
executive sessions of the Board. Mr. Smith is a non-executive independent
director whose duties include advising the CEO of matters discussed in executive
sessions, where appropriate, as well as approving Board agenda items.
</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Limitation of Service
on other Boards; Director Education; Retirement and Term
Limits<BR></FONT></I></B><FONT face="Times New Roman" size=2>Zebra&#146;s Corporate
Governance Guidelines limit to four the number of other publicly traded
for-profit boards on which a non-employee director may serve. Employee directors
and executive officers are limited to service on the board of one for-profit
entity other than Zebra, as approved by the Chairman. Zebra assists the Board by
providing orientation for new directors and reimbursing the costs of continuing
education programs. The Board does not endorse a mandatory retirement age, term
limits, or automatic re-nomination to serve as a director. The Board believes
that Board and Committee self-evaluation processes are the most effective means
of determining whether a director should continue to serve as a
director.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Director
Compensation<BR></FONT></I></B><FONT face="Times New Roman" size=2>The
Compensation Committee periodically reviews the compensation of our directors.
In 2012, 2013 and 2014 the Committee conducted peer group comparisons of
director compensation. As a result of the 2012 review, the Committee approved
and recommended to the Board for its approval, which the Board approved, changes
in the compensation of non-employee directors. Those changes, which became
effective as of January 1, 2013, are discussed under &#147;Director Compensation&#148;
below.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Stock Ownership
Guidelines<BR></FONT></I></B><FONT face="Times New Roman" size=2>In February
2015, the Board approved a revision of our Stock Ownership Guidelines for
executive officers and non-employee directors. The Board increased the &#147;multiple
of pay&#148; stock ownership guideline requirement for the Chief Executive Officer
(from 4x to 5x), Executive Vice President (from 3x to 4x) and Senior Vice
Presidents (from 2x to 3x). The revised Guidelines became effective as of
February 11, 2015, the date of Board approval. Participants must satisfy the
applicable minimum stock ownership levels by the later of December 31, 2017 or
five years after becoming subject to the Guidelines. A cap does not exist on the
maximum value or number of shares that can be held by a covered participant.
Participants are required to retain a portion of the after-tax shares acquired
upon exercise or vesting of an equity award until a minimum stock ownership
level is satisfied. The minimum stock ownership levels for participants under
the revised Guidelines are:</FONT></P>
<TABLE style="PADDING-RIGHT: 1pt; PADDING-LEFT: 1pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="14%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="39%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Number of</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="29%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>&nbsp;&nbsp;Covered
      Participant</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="14%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Multiple of
      Pay</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Shares</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="29%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;Chief Executive Officer</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>Satisfy</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face="Times New Roman" size=2>5x
      annual base salary</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>or</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>100,000</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="29%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;Executive Vice President</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>Satisfy</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face="Times New Roman" size=2>4x
      annual base salary</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>or</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>30,000</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="29%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;Senior Vice President</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>Satisfy</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face="Times New Roman" size=2>3x
      annual base salary</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>or</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>20,000</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="29%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;Vice
      President</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>Satisfy</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face="Times New Roman" size=2>1x
      annual base salary</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>or</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>10,000</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="29%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;Non-Employee Directors</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>Satisfy</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face="Times New Roman" size=2>5x
      annual board cash retainer</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>or</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>10,000</FONT></TD></TR></TABLE><BR>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>In February 2015, the
Compensation Committee reviewed compliance with the Guidelines in effect as of
December 31, 2014, for all incumbent directors and executive officers. The
Committee also reviewed compliance with the revised Guidelines, treating the
Guidelines as if they were in effect as of December 31, 2014. Except for Mr.
Modruson, who joined the Board in February 2014, all of our non-employee
directors satisfied the applicable stock ownership level as of December 31,
2014. Mr. Modruson is on track to satisfy the applicable stock ownership level.
In addition, each of Zebra&#146;s remaining executive officers either satisfied or is
on track to satisfy the applicable stock ownership level. A copy of the revised
Stock Ownership Guidelines is available on Zebra&#146;s website at </FONT><I><FONT face="Times New Roman" size=2>http://www.zebra.com</FONT></I><FONT face="Times New Roman" size=2> under &#147;About Zebra-Investor
Relations-Governance-Governance Documents.&#148;</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>8</FONT></P>
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<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Oversight of Risk
Management<BR></FONT></I></B><FONT face="Times New Roman" size=2>The goal of
risk management is to provide reasonable assurance to our senior management and
Board that a controllable risk will not have a material or significant adverse
effect on Zebra. As set forth in our Corporate Governance Guidelines, the Board
is responsible for the oversight of risk management. This responsibility is
discharged primarily through the Audit Committee. The Audit Committee receives
regular reports from a risk committee comprised of management employees
regarding the identification and management of risk in our businesses. In
addition, the Compensation Committee is responsible for the oversight of risk
related to our compensation policies and practices. Both the Audit Committee and
Compensation Committee give regular reports to the Board regarding their
oversight roles and the directors regularly discuss significant risks facing
Zebra. Management categorizes identified risks as environmental (such as
economic environment, competitive landscape, and currency/foreign exchange
rates), strategic (such as product research and development, brand positioning,
marketing and pricing), operational (such as distribution and logistics, and
sales), financial (such as tax, accounting, information technology, and
liquidity) or legal and compliance (such as governance, international trade,
anti-bribery, product compliance, international laws and regulations, and
litigation) risk. Risks arising out of Zebra&#146;s compensation policies and
practices may, depending on the actions or behavior encouraged by a performance
or similar goal, be categorized as a strategic, operational, financial, or legal
and compliance risk. Identified risks that may be controlled are then assessed
by management in terms of impact on Zebra, the likelihood of occurrence, and
ultimately, Zebra&#146;s level of risk exposure. Environmental risks, such as general
economic conditions, are not directly controllable by management, but are
evaluated against Zebra activities to manage Zebra&#146;s exposure to these
risks.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Management conducts an annual
assessment of the risks arising out of Zebra&#146;s compensation policies and
practices. Management reviewed each significant element of compensation for the
purpose of determining whether that element of compensation, including any
related performance goals and targets, encourages identifiable risk-taking
behavior and whether any identified risks could have a material adverse effect
on Zebra. As part of this review management considers whether a compensation
plan is designed to mitigate or cap risk, including features such as
compensation caps under our Zebra Incentive Plan and the use of return on
invested capital performance targets to reduce incentive plan compensation if
invested capital is not realizing minimum rates of return approved by the
Compensation Committee. Management reviewed base salaries, the 2014 Zebra
Incentive Plan, 2014 Enterprise Incentive Plan and equity awards granted under
the 2011 Long-Term Incentive Plan. Based on this review, management then
prepared a report and discussed its review and conclusions with the Compensation
Committee. Management determined that our policies and practices are not
reasonably likely to have a material adverse effect on Zebra.</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Code of Business
Conduct; Code of Ethics for Senior Financial Officers<BR></FONT></I></B><FONT face="Times New Roman" size=2>Zebra has a Code of Business Conduct that applies
to directors, officers and employees. We also have a Code of Ethics for Senior
Financial Officers that applies to our CEO, Chief Financial Officer and Chief
Accounting Officer. The Code of Business Conduct and Code of Ethics for Senior
Financial Officers each address matters such as conflicts of interest,
confidentiality, fair dealing and compliance with laws and regulations. During
2013, Zebra approved a revised Code of Business Conduct and reviewed the Code of
Ethics for Senior Financial Officers. Copies of the Code of Business Conduct and
Code of Ethics for Senior Financial Officers are available on Zebra&#146;s website at
</FONT><I><FONT face="Times New Roman" size=2>http://www.zebra.com</FONT></I><FONT face="Times New Roman" size=2> under
&#147;About Zebra-Investor Relations-Governance-Governance Documents.&#148;</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Related-Party
Transactions<BR></FONT></I></B><FONT face="Times New Roman" size=2>Zebra has a
written related-party transaction policy that may apply to any transaction,
arrangement or relationship in which Zebra and any related person are parties. A
related person includes our directors and executive officers, their immediate
family members, entities in which a director, executive officer or immediate
family member is a partner or has a 10% or more beneficial interest, and
beneficial owners of more than 5% of our common stock and their immediate family
members. Our General Counsel and Audit Committee administer Zebra&#146;s policy, with
the General Counsel first assessing whether a proposed transaction is subject to
the policy. If the General Counsel determines that a proposed transaction is a
related-party transaction, then the Chairman of the Audit Committee or the full
Audit Committee will review the proposed transaction to determine if it should
be approved. Under Zebra&#146;s policy, all relevant available facts and
circumstances are to be considered, including: (i) the benefits to Zebra; (ii)
the impact on a director&#146;s independence in the event that the related person is
a director, an immediate family member of a director or an entity in which a
director is a partner, stockholder or executive officer; (iii) the availability
of other sources for comparable products or services; (iv) the related person&#146;s
interest in the transaction; (v) the terms of the transaction; </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>9</FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>and (vi) the terms available
to unrelated third parties or to employees generally. There were no
related-party transactions in 2014.</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Compliance
Reporting<BR></FONT></I></B><FONT face="Times New Roman" size=2>Zebra maintains
a compliance hotline and website for compliance reporting. The compliance
hotline and website establish a confidential means for employees or other
persons to communicate to management or the Board any concerns that they may
have, including concerns regarding accounting, internal controls or audit
matters or compliance with laws, regulations, policies or the Code of Business
Conduct. Our Chief Compliance Officer reports regularly to the Audit Committee
on our Compliance and Ethics Program, including reporting on the communications
received via the compliance hotline. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>10</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><A NAME="a_003"></A><FONT face="Times New Roman" size=2>Proposal 1</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Election of Directors
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The Board of Directors
currently consists of nine directors, seven of whom are independent under NASDAQ
listing requirements, and two of whom are currently executive officers of Zebra.
Each of the nominees for election as director currently serves as a director of
Zebra.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Our Board of Directors is
divided into three separate classes, with one class being elected each year to
serve a staggered three-year term. The terms of the Class I Directors expire at
the annual meeting, and two directors will be elected to serve for a three-year
term expiring at the 2018 meeting and until their successors are elected and
qualified. Our Nominating Committee has recommended, and our Board has approved,
the nomination for election of Richard L. Keyser and Ross W. Manire to serve as
Class I Directors. Dr. Robert J. Potter, whose term expires on the date of the
annual meeting, will retire from service on the Board and the Compensation
Committee. Dr. Potter has served as director of Zebra for 12 years and serves as
the Chairman of our Compensation Committee. The Board thanks Dr. Potter and is
grateful for his service to Zebra.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>If at the time of the annual
meeting any of the nominees is unable or declines to serve, the persons named in
the proxy will, at the direction of the Board of Directors, either vote for the
substitute nominee or nominees that the Board of Directors recommends or vote to
allow the vacancy to remain open until filled by the Board. The Board has no
reason to believe that any nominee will be unable or will decline to serve as a
director if elected. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>The Board of Directors
recommends a Vote &#147;FOR&#148; the election of Richard L. Keyser and Ross W. Manire to
serve as Directors of Zebra. </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The following table sets forth
information regarding the nominees for Class I Director and the remaining
directors. Included in this biographical information is information regarding
certain of the experiences, qualifications, attributes, and skills that are
relevant to each individual&#146;s service as a director: </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="80%"><B><FONT face="Times New Roman" size=2>Name</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%"><B><FONT face="Times New Roman" size=2>Age</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><B><FONT face="Times New Roman" size=2>Position with Zebra</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><B><FONT face="Times New Roman" size=2>Director Since</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><B><FONT face="Times New Roman" size=2>Term Expires</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Nominees</FONT></B></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%"><I><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class I
      Directors</FONT></I></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="10%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Richard L. Keyser</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>72</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2008</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2015</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%"><FONT face="Times New Roman" size=2>Ross
      W. Manire</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT face="Times New Roman" size=2>63</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="10%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><FONT face="Times New Roman" size=2>2003</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><FONT face="Times New Roman" size=2>2015</FONT></TD></TR>
  <TR>
    <TD width="101%" colSpan=9>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Retiring Class I
      Director</FONT></B></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%"><FONT face="Times New Roman" size=2>Dr.
      Robert J. Potter</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT face="Times New Roman" size=2>82</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="10%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><FONT face="Times New Roman" size=2>2003</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><FONT face="Times New Roman" size=2>2015</FONT></TD></TR>
  <TR>
    <TD width="101%" colSpan=9>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Continuing Directors</FONT></B></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%"><I><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class II
      Directors</FONT></I></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="10%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Gerhard Cless</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>75</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Director and Executive Vice President</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1969</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2016</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%"><FONT face="Times New Roman" size=2>Frank B. Modruson</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT face="Times New Roman" size=2>55</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="10%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><FONT face="Times New Roman" size=2>2014</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><FONT face="Times New Roman" size=2>2016</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Michael A. Smith</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>60</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Director and Chairman</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1991</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2016</FONT></TD></TR>
  <TR>
    <TD width="101%" bgColor=#c0c0c0 colSpan=9>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%"><I><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class III
      Directors</FONT></I></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="10%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Anders Gustafsson</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>54</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Director and Chief Executive Officer</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2007</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2017</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%"><FONT face="Times New Roman" size=2>Andrew K. Ludwick</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="1%"><FONT face="Times New Roman" size=2>69</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="10%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><FONT face="Times New Roman" size=2>2008</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><FONT face="Times New Roman" size=2>2017</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="80%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Janice Roberts</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>59</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2013</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2017</FONT></TD></TR></TABLE><BR>
<P align=left><B><I><FONT face="Times New Roman" size=2>____________________</FONT></I></B></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Nominees for Class I
Director</FONT></I></B><BR><I><FONT face="Times New Roman" size=2>Richard L.
Keyser</FONT></I><FONT face="Times New Roman" size=2> has been a director since
2008. Mr. Keyser spent much of his career at W.W. Grainger, Inc., an
international distributor of maintenance, repair and operating supplies. In
2010, Mr. Keyser was honored as the National Association of Corporate Directors
(&#147;NACD&#148;) 2010 Public Company Director of the Year. The NACD&#146;s award criteria
include an unwavering commitment to integrity, confidence, informed judgment,
and performance. Mr. Keyser served as Chairman Emeritus of Grainger from 2009 to
2010. Previously, he served as Grainger&#146;s </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>11</FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>Chairman from 2008 to 2009, as
Chairman and Chief Executive Officer from 1995 until 2008, and President and
Chief Operating Officer from 1994 to 1995. Prior to joining Grainger in 1986, he
held positions at NL Industries and Cummins Engine Company. Mr. Keyser received
a BS degree from the United States Naval Academy and an MBA degree from Harvard
Business School. Mr. Keyser is a member of the Board of Directors and Human
Resources Committee of the Principal Financial Group, Inc., a financial services
firm. Mr. Keyser served as a director of the Rohm &amp; Haas Company, a
manufacturer of specialty chemicals, until 2009. Mr. Keyser serves as a trustee
of the Shedd Aquarium, a director of the North Shore University Health System, a
trustee of the Field Museum, and Chairman of the National Merit Scholarship
Corporation. Mr. Keyser is a member of our Compensation Committee. Since Zebra
primarily sells its products through distributors and resellers, Mr. Keyser&#146;s
experience with these channels provides significant strategic and operational
benefits to Zebra.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Ross W.
Manire</FONT></I><FONT face="Times New Roman" size=2> has been a director since
2003. He has served since 2002 as Chairman and Chief Executive Officer of
ExteNet Systems, Inc., a wireless networking company Mr. Manire founded. Mr.
Manire&#146;s professional career includes serving as a partner in the
Entrepreneurial Services Group at Ernst &amp; Young, LLP, a leading accounting
firm, from 1983 to 1989. Prior to joining ExteNet, Mr. Manire was President of
the Enclosure Systems Division of Flextronics International, Ltd., an
electronics contract manufacturer, from 2000 to 2002. He was President and Chief
Executive Officer of Chatham Technologies, Inc., an electronic packaging systems
manufacturer that merged with Flextronics, in 2000. Prior to joining Chatham, he
was Senior Vice President of the Carrier Systems Business Unit of 3Com
Corporation, a provider of networking equipment and solutions. He served in
various executive positions with U.S. Robotics from 1991 to 1995, including
Chief Financial Officer, Senior Vice President of Operations and Senior Vice
President of the Network Systems Division prior to its merger with 3Com in 1997.
From 1989 to 1991, Mr. Manire was a partner in Ridge Capital, a private
investment company. Mr. Manire holds a BA degree from Davidson College and an
MBA degree from the University of Chicago. He is a member of the Board of
Directors and Finance and Audit Committees of The Andersons, Inc., a diversified
business with interests in agribusiness, railcars and retailing. Mr. Manire is a
member of our Audit and Nominating Committees. The Board and the Audit Committee
benefit from his business, operational, accounting and financial knowledge and
experience. For example, Mr. Manire&#146;s experience with electronics contract
manufacturing proved important as Zebra initiated and completed its project to
outsource printer manufacturing. Mr. Manire&#146;s financial and accounting
experience facilitates the Board&#146;s oversight of Zebra&#146;s accounting, internal
control and auditing functions and activities.</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Retiring Class I
Director<BR></FONT></I></B><I><FONT face="Times New Roman" size=2>Dr. Robert J.
Potter</FONT></I><FONT face="Times New Roman"> </FONT><FONT face="Times New Roman" size=2>has been a director since 2003. Dr. Potter&#146;s
extensive business experience includes serving as an officer in, and consultant
to, both industrial and service businesses. Since 1990, he has been President
and Chief Executive Officer of R. J. Potter Company, a Dallas-area firm
providing business and technical consulting. From 1987 to 1990, Dr. Potter was
President and CEO of Datapoint Corporation, a leader in network-based data
processing. Prior to Datapoint, Dr. Potter was Group Vice President of Nortel
Networks, Senior Vice President of International Harvester, President of the
Office Systems Division of Xerox and Research Manager of International Business
Machines Corporation. He graduated Phi Beta Kappa from Lafayette College with a
BS degree in physics and holds a Ph.D. in optics from the University of
Rochester, having written the first dissertation on fiber optics in the USA. He
is a fellow of the Optical Society of America and has written more than 50
articles for various scientific, technical and business publications, including
the first description of optical character recognition in an encyclopedia. Dr.
Potter is on the Board of Trustees of the Illinois Institute of Technology. He
is Chair of our Compensation Committee.</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Continuing Directors
<BR></FONT></I></B><I><FONT face="Times New Roman" size=2>Gerhard Cless
</FONT></I><FONT face="Times New Roman" size=2>has devoted substantially his
entire career to Zebra, a company which he co-founded in 1969. Mr. Cless is an
engineer by training and has served as Executive Vice President of Zebra since
1998 and as a director since 1969. He served as Secretary of Zebra from its
formation until 2005, and as Executive Vice President for Engineering and
Technology of Zebra from 1995 to 1998, after having served as Senior Vice
President of Engineering since 1969. Mr. Cless also served as Treasurer of Zebra
from its formation until 1991. He has directed the development of numerous label
printers based on various printing technologies and maintained worldwide
technology/vendor relationships. Prior to founding Zebra, Mr. Cless was a
research and development engineer with Teletype Corporation&#146;s printer division.
Mr. Cless received an MSME degree from Maschinenbauschule Esslingen in Germany,
and did graduate work at the Illinois Institute of Technology. The Cless
Technology Center, Zebra&#146;s product development and research facility, is named
in honor of Mr. Cless. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>12</FONT></P>
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<P align=left><I><FONT face="Times New Roman" size=2>Anders
Gustafsson</FONT></I><FONT face="Times New Roman" size=2> became Zebra&#146;s Chief
Executive Officer and a director in 2007. Prior to joining Zebra, Mr. Gustafsson
served as Chief Executive Officer of Spirent Communications plc, a
publicly-traded telecommunications company, from 2004 until 2007. From 2000
until 2004, he was Senior Executive Vice President, Global Business Operations,
of Tellabs, Inc., a communications networking company. Mr. Gustafsson also
served as President, Tellabs International, as well as President, Global Sales,
and Vice President and General Manager, Europe, Middle East and Africa. Earlier
in his career, he held executive positions with Motorola, Inc. and Network
Equipment Technologies, Inc. Mr. Gustafsson is a member of the Board of
Directors of Dycom Industries Inc., company that provides construction and
specialty services to the telecommunications industry. Mr. Gustafsson has an MS
degree in Electrical Engineering from Chalmers University of Technology in
Gothenburg, Sweden, and an MBA degree from Harvard Business School. </FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Andrew K.
Ludwick</FONT></I><FONT face="Times New Roman" size=2> has been a director since
2008. Mr. Ludwick has extensive experience in technology and start-up businesses,
including serving as Chief Executive Officer of Bay Networks, Inc., a
multi-billion dollar communications networking company, from 1994 to 1996, and
Founder, President and Chief Executive Officer of SynOptics Communications,
Inc., a communications networking company, from 1985 to 1994. He has been a
private investor since 1997. Mr. Ludwick holds a BA from Harvard College and an
MBA from Harvard Business School. He has served since 2008 as a member and
chairman of the Board of Directors of Rovi Corporation (f/k/a Macrovision
Corporation), a provider of technologies for the protection, enhancement and
distribution of businesses&#146; digital goods. He is a member of our Audit
Committee. The Board and the Audit Committee benefit from Mr. Ludwick&#146;s
extensive experience as an entrepreneur, manager and investor in technology
businesses. Mr. Ludwick&#146;s operational background provides the experience
necessary to help the Board fulfill its oversight duties with regard to Audit
Committee responsibilities and also to advise the Board and management on
technology matters.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Frank B.
Modruson</FONT></I><FONT face="Times New Roman" size=2> has been a director
since February 2014. From January 2003 to February 2014, Mr. Modruson served as
the Chief Information Officer at Accenture, a world-wide leader in management
consulting, information technology, systems integration, and business process
outsourcing services. As CIO, he was responsible for the information technology
strategy, applications and infrastructure supporting a global business of
281,000 employees. He also chaired Accenture&#146;s Information Technology Steering
Committee and was a member of the Accenture Operating Committee and Global
Leadership Council. In 2010, Mr. Modruson was elected to </FONT><I><FONT face="Times New Roman" size=2>CIO Magazine&#146;s</FONT></I><FONT face="Times New Roman" size=2> CIO Hall of Fame. In addition, </FONT><I><FONT face="Times New Roman" size=2>InfoWorld</FONT></I><FONT face="Times New Roman" size=2> named him to its list of Top 25 CTOs and </FONT><I><FONT face="Times New Roman" size=2>ComputerWorld </FONT></I><FONT face="Times New Roman" size=2>named him one of its Premier 100 CTOs. Prior to
becoming CIO at Accenture, Mr. Modruson worked there as a Partner and Associate
Partner for 15 years. Mr. Modruson currently serves on the board of Taleris, a
private company and joint venture of GE Aviation and Accenture, which provides
intelligent operations services for airlines and cargo carriers. He is also a
volunteer firefighter and serves on the Board of the Directors of the Lyric
Opera of Chicago. Mr. Modruson has a B.A. in Computer Science from Dickinson
College and a Masters in Computer Science from Pennsylvania State University.
Mr. Modruson is a member of our Audit Committee. His experience transforming IT
into an asset for Accenture will assist Zebra as it looks to expand and move
into new markets. </FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Janice
Roberts</FONT></I><FONT face="Times New Roman" size=2> has been a director since
2013. Ms. Roberts is currently a partner with Benhamou Global Ventures, an
early-stage venture capital firm based in Silicon Valley. Ms. Roberts was
previously a Venture Advisor at Mayfield Fund, a global venture capital fund
based in Silicon Valley. For more than 10 years she was a Managing Director at
Mayfield Fund, where she invested in mobile, wireless, communications and
consumer technology companies. Prior to joining Mayfield Fund, Ms. Roberts held
various executive positions at 3Com Corporation (acquired by the Hewlett-Packard
Corporation), including leading its global marketing and business development
operations, as well as a number of the company&#146;s new business initiatives,
including its Palm Computing subsidiary and 3Com Ventures. Ms. Roberts currently
serves on the Boards of ARM Holdings plc, and RealNetworks, Inc., where she is a
member of both of their compensation committees. Additionally, she serves on the
board of the Ronald McDonald House at Stanford, which is located in Palo Alto,
CA, and as an advisor for Illuminate Ventures, a group dedicated to investing in
companies that are inclusive of women entrepreneurs. Ms. Roberts has a B.A.
degree in Economics from the University of Birmingham in Birmingham, United
Kingdom. Ms. Roberts&#146; experience with technology companies, venture deals and
her board work will prove important as Zebra expands its business into
additional technological spheres, including the Internet of Things.
Additionally, her experience with compensation committee work will aid the Board
in its oversight of the compensation practices of Zebra.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>13</FONT></P>
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<P align=left><I><FONT face="Times New Roman" size=2>Michael A.
Smith</FONT></I><FONT face="Times New Roman" size=2> has substantial knowledge
of Zebra and its industry, including prior service as a director of a public
company in the automatic identification sector. He has served as a director of
Zebra since 1991 and as Chairman since 2007. The Board and the Committees on
which Mr. Smith serves also benefit from Mr. Smith&#146;s experience and skills in
financial services as well as from his 25 years of industry experience. Since
2000, he has served as Chairman and Chief Executive Officer of FireVision LLC, a
private investment company that he founded. From 1998 to 1999, Mr. Smith was
Senior Managing Director and head of the Chicago and Los Angeles offices of the
Mergers &amp; Acquisitions Department of NationsBanc Montgomery Securities and
its successor entity, Banc of America Securities, LLC. Previously, he was Senior
Managing Director and co-head of the Mergers and Acquisitions Department of
BancAmerica Robertson Stephens; co-founder and head of the investment banking
group, BA Partners, and its predecessor entity, Continental Partners Group;
Managing Director, Corporate Finance Department, Bear, Stearns &amp; Co.; and
Vice President and Manager of the Eastern States and Chicago Group Investment
Banking Division of Continental Bank. Mr. Smith graduated Phi Beta Kappa from
the University of Wisconsin with a BA degree</FONT><B><FONT face="Times New Roman" size=2> </FONT></B><FONT face="Times New Roman" size=2>and received an MBA degree from the University of Chicago. Mr. Smith is a
member of the Board of Directors of SRAM International Corp., a global designer,
manufacturer and marketer of premium bicycle components. Mr. Smith is a managing
member of Blue Star Lubrication Technology LLC and Blue Star Lubrication
Technology Investors LLC, a provider of industrial lubricants and greases. Mr.
Smith is the Chair of our Audit and Nominating Committees and a member of our
Compensation Committee. Mr. Smith is also a Board Leadership Fellow of the
National Association of Corporate Directors, having completed NACD&#146;s
comprehensive program of study for experienced corporate directors. </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_004"></A>Board and Committees of
the Board </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Our business is managed under
the direction of our Board, which is kept advised of Zebra&#146;s business through
regular and special meetings of the Board and its Committees, written reports
and analyses and discussions with the CEO and other officers. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>During 2014, our Board met 12
times. All directors attended 75 percent or more of the meetings of our Board
and standing committees on which they served in 2014. All directors attended the
2014 annual meeting of stockholders held in May 2014. Our Board has three
standing committees, each of which is composed entirely of independent
directors: the Audit Committee, the Compensation Committee, and the Nominating
Committee. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>14 </FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>The following table shows each
Committee on which each director served, the Chair of each Committee and the
number of meetings held by each Committee. </FONT></P>
<DIV align=center>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="80%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="45%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Independent Director</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="17%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Nominating</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Compensation</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="17%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Audit</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Richard L. Keyser</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="17%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>Member</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="17%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Andrew K. Ludwick</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="17%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="20%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="17%"><FONT face="Times New Roman" size=2>Member</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Ross
      W. Manire</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="17%"><FONT face="Times New Roman" size=2>Member</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="20%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="17%"><FONT face="Times New Roman" size=2>Member</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Frank B. Modruson</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="17%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="20%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="17%"><FONT face="Times New Roman" size=2>Member</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Dr.
      Robert J. Potter</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="17%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>Chair</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="17%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Janice Roberts</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="17%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>Member</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="17%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Michael A. Smith</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="17%"><FONT face="Times New Roman" size=2>Chair</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>Member</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="17%"><FONT face="Times New Roman" size=2>Chair</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="45%"><B><FONT face="Times New Roman" size=2>Meetings in 2014</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="17%"><FONT face="Times New Roman" size=2>2</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>7</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="17%"><FONT face="Times New Roman" size=2>6</FONT></TD></TR></TABLE></DIV><BR>
<P align=left><I><FONT face="Times New Roman" size=2>Audit Committee.
</FONT></I><FONT face="Times New Roman" size=2>The Audit Committee functions as
the standing audit committee established in accordance with Section 3(a)(58)(A)
of the Securities Exchange Act of 1934. Our Board has determined that Mr. Manire
is an &#147;audit committee financial expert&#148; as defined under Securities and
Exchange Commission regulations. In addition to the Board&#146;s determination that
each member of the Committee meets the independence requirements under NASDAQ
and rules of the Securities and Exchange Commission, (1) each member of this
Committee satisfies the NASDAQ requirements that no member have participated in
the preparation of financial statements of Zebra or any current subsidiary of
Zebra within the past three years and (2) Mr. Manire meets the financial
sophistication requirement established by NASDAQ. This Committee assists the
Board in fulfilling its oversight functions with respect to matters involving
the financial reporting, independent and internal audit processes, disclosure
controls and procedures and internal control over financial reporting, and
matters such as related-party transactions and risk management. The Committee is
responsible for appointing, retaining, compensating, evaluating, and
terminating, when appropriate, our independent auditor; reviewing and discussing
with management and the independent auditor, Zebra&#146;s annual and quarterly
financial statements; and discussing policies with respect to risk assessment
and risk management. The Committee has the authority to engage and determine
funding for outside legal, accounting or other advisors. </FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Compensation Committee.
</FONT></I><FONT face="Times New Roman" size=2>The Compensation Committee
determines the total compensation philosophy relating to our CEO and other
executive officers and determines Zebra&#146;s peer group for compensation purposes.
The Committee oversees overall compensation corporate governance, the
administration of Zebra&#146;s short-term and long-term compensation plans and
determines (or with respect to the CEO recommends to the Board) the total
compensation and terms of employment for executive officers, including salary,
short-term incentive targets, long-term incentive targets, performance goals and
performance targets for both cash and equity awards, and the timing, terms and
number of equity awards. The Committee also oversees Zebra&#146;s Stock Ownership
Guidelines for the non-employee directors and executive officers. The Committee
has delegated to the CEO the right to grant a limited number of equity awards to
non-executive officers between regular meetings of the Committee. The Committee
also oversees the performance management and talent management processes used by
Zebra and recommends to the Board the compensation of non-employee
directors.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Towers Watson served in 2014
as the independent executive compensation consultant to the Committee to provide
competitive compensation data, analysis and guidance throughout the process of
determining compensation for Zebra&#146;s executive officers. The role of Towers
Watson in determining executive compensation is further described below under
&#147;Compensation Discussion and Analysis.&#148; The Committee has the authority to
engage outside legal counsel, tax and accounting, or other advisors. </FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Nominating Committee.
</FONT></I><FONT face="Times New Roman" size=2>The Nominating Committee
identifies individuals qualified to be Board members, recommends director
nominees, and assists our Board in discharging its responsibilities relating to
corporate </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>15</FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>governance. For more
information regarding the Nominating Committee, see &#147;Corporate Governance.&#148; The
Committee has the authority to retain a search firm to identify director
candidates and to engage outside legal counsel or other advisors. </FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Information Technology
Committee</FONT></I><FONT face="Times New Roman" size=2>. In March 2015, our
Board established the Information Technology Committee. The Information
Technology Committee assists our Board in fulfilling its oversight functions
with respect to matters involving appraising our information technology (&#147;IT&#148;)
strategy and architecture; appraising major IT-related projects and technology
architecture decisions; ensuring that our IT programs effectively support our
business objectives and strategies; evaluating our cybersecurity programs in
light of relevant market risks; and updating our Board on IT-related matters.
Our Board appoints members of the Information Technology Committee with the
initial members being Frank Modruson (Chair), Richard Keyser, Andrew Ludwick and
Ross Manire. </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_005"></A>Director Compensation
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The Compensation Committee
recommends to the Board the compensation of non-employee directors. When
reviewing compensation, the Committee considers market data and historical
practices. In 2012, the Committee engaged its independent compensation
consultant, The Delves Group, to conduct a non-employee director compensation
analysis. The Committee reviewed market data on both non-employee director
compensation and financial performance of publicly-traded companies viewed as
comparable to Zebra. The 22 peer companies then used for non-employee director
compensation were the same companies used when assessing executive officer
compensation for 2013 compensation purposes. The compensation information also
consisted of data from the 2011-2012 National Association of Corporate Directors
Director Compensation Report. The compensation data indicated that Zebra&#146;s total
board compensation was then aligned with the 25<SUP>th</SUP> percentile of the
peer group, with the cash retainer then being aligned with the median of the
peer group, total cash compensation was between the 25<SUP>th</SUP> percentile
and the median, and equity compensation then aligned with the 25<SUP>th</SUP>
percentile. In addition, Zebra&#146;s mix of cash and equity awards was then aligned
with the median mix of the peer group. The Committee also reviewed the
compensation of members of our three standing committees of the Board, with the
compensation data indicating that the compensation of the Chairman of the Audit
Committee was then aligned with the 25<SUP>th</SUP> percentile and the
compensation of the Chairmen of the Compensation Committee and Nominating
Committee was between the 25<SUP>th</SUP> percentile and the median. Audit
Committee member compensation was then aligned with the median, Compensation
Committee member compensation was between the median and 75<SUP>th</SUP>
percentile, and Nominating Committee member compensation was aligned with the
25th percentile.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>As a result of this 2012
review, the Committee made recommendations regarding the non-employee director
compensation and the Board approved the following compensation: </FONT></P>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: normal; PADDING-TOP: 2pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Annual Cash Retainer</FONT></TD>
    <TD vAlign=top align=left width="80%">
      <P align=left><FONT face="Times New Roman" size=2>Effective January 1,
      2013, the annual cash retainer was increased from $50,000 to $60,000 for
      all non-employee directors, with Chairman Smith&#146;s annual cash retainer
      increasing from $100,000 to $110,000. </FONT></P></TD></TR>
    <TR STYLE="vertical-align: bottom; line-height: 8pt">
    <TD NOWRAP STYLE="vertical-align: top; text-align: left; background-color: #c0c0c0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Annual Equity Retainer</FONT></TD>
    <TD vAlign=top align=left width="80%">
      <P align=left><FONT face="Times New Roman" size=2>Effective with the May
      2013 annual equity grant to non-employee directors, the target grant date
      fair value was increased from $100,000 to $150,000 and the mix of equity
      grants was changed to 100% in the form of fully-vested stock to replace
      the prior 50/50 split in the form of fully-vested stock and fully-vested
      stock appreciation rights. </FONT></P></TD></TR>
    <TR STYLE="vertical-align: bottom; line-height: 8pt">
    <TD NOWRAP STYLE="vertical-align: top; text-align: left; background-color: #c0c0c0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Additional Cash Fees</FONT></TD>
    <TD vAlign=top align=left width="80%">
      <P align=left><FONT face="Times New Roman" size=2>The additional cash fee
      of $2,000 was maintained for each in-person Board meeting in excess of
      five in-person Board meetings per year and $1,000 for each telephonic
      Board meeting in excess of two telephonic Board meetings per year.
      </FONT></P></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>16</FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>In 2012, the Committee also
made recommendations regarding the compensation for service on committees of the
Board and the Board approved the following compensation: </FONT></P>
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  <TR>
    <TD vAlign=top noWrap width="1%" bgColor=#c0c0c0 rowSpan=3>Annual Cash<BR>Retainer for<BR>Committee Chair</TD>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top align=left width="98%">
      <P align=left><FONT face="Times New Roman" size=2>Maintain at $15,000 for
      the Compensation Committee Chair. </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top align=left width="98%">
      <P align=left><FONT face="Times New Roman" size=2>Maintain at $15,000 for
      the Audit Committee Chair. </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top align=left width="98%">
      <P align=left><FONT face="Times New Roman" size=2>Maintain at $8,000 for
      the Nominating Committee Chair. </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top align=left width="98%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap width="1%" bgColor=#c0c0c0 rowSpan=3>Annual Cash<BR>Retainer for<BR>Committee Members</TD>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top align=left width="98%">
      <P align=left><FONT face="Times New Roman" size=2>Maintain at $10,000 for
      each Compensation Committee member who is not serving as Chair.
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top align=left width="98%">
      <P align=left><FONT face="Times New Roman" size=2>Maintain at $10,000 for
      each Audit Committee member who is not serving as Chair.</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top align=left width="98%">
      <P align=left><FONT face="Times New Roman" size=2>Increase from $2,000 to
      $5,000 for each Nominating Committee member who is not serving as Chair.
      </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top align=left width="98%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap width="1%" bgColor=#c0c0c0>Cash Fees
      for<BR>Additional<BR>Committee Meetings</TD>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top align=left width="98%">
      <P align=left><FONT face="Times New Roman" size=2>Maintain at $1,500 for
      the Chair and $1,000 for other committee members for each in-person
      committee meeting in excess of five in-person committee meetings per year
      with no additional fee for telephonic committee meetings.
  </FONT></P></TD></TR></TABLE><BR>
<P align=left><FONT face="Times New Roman" size=2>Non-employee directors may
participate in our non-qualified deferred compensation plan and our group
medical and dental plans, and they are reimbursed for expenses incurred in
attending Board and committee meetings. Neither Mr. Gustafsson nor Mr. Cless
receives additional compensation for service as a director.</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>2014 Non-Employee
Director Compensation<BR></FONT></I></B><FONT face="Times New Roman" size=2>In
May 2014, the Committee approved 2014 annual grants to the seven directors then
serving as non-employee directors with a targeted grant value of $150,000 in
common stock, each fully vested upon grant. Each of these non-employee directors
was granted 2,073 fully vested shares. The following table provides information
regarding the compensation of our non-employee directors for 2014. Frank
Modruson joined our Board in February 2014.</FONT></P>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; padding-left: 4pt; padding-right: 4pt" cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR STYLE="background-color: Silver">
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="22%"></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="22%"><B><FONT face="Times New Roman" size=2>Fees Earned</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="19%"><B><FONT face="Times New Roman" size=2>Stock</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="23%"><B><FONT face="Times New Roman" size=2>All
    other</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="13%"></TD></TR>
  <TR STYLE="background-color: Silver">
    <TD NOWRAP ALIGN="CENTER" WIDTH="22%" STYLE="border-left: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="22%"><B><FONT face="Times New Roman" size=2>or Paid</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="19%"><B><FONT face="Times New Roman" size=2>Awards
    ($)</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="23%"><B><FONT face="Times New Roman" size=2>Compensation</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="13%"></TD></TR>
  <TR STYLE="background-color: Silver">
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: left; width: 22%; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=2>Name</FONT></B></TD>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: center; width: 22%; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=2>in Cash
    ($)</FONT></B></TD>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: center; width: 19%; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=1><sup>(1)</sup></FONT></B></TD>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: center; width: 23%; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=2>($)</FONT></B></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 13%"><B><FONT face="Times New Roman" size=2>Total ($)</FONT></B></TD></TR>

  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>Richard L. Keyser</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>74,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>150,002</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="23%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="13%"><FONT face="Times New Roman" size=2>224,002</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>Andrew K. Ludwick</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>74,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>150,002</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="23%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="13%"><FONT face="Times New Roman" size=2>224,002</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>Ross
      W. Manire</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>80,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>150,002</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="23%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="13%"><FONT face="Times New Roman" size=2>230,002</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>Frank B. Modruson</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>64,088</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>150,002</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="23%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="13%"><FONT face="Times New Roman" size=2>214,090</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>Robert J. Potter</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>79,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>150,002</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="23%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="13%"><FONT face="Times New Roman" size=2>229,002</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>Janice Roberts</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>74,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>150,002</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="23%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="13%"><FONT face="Times New Roman" size=2>224,002</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>Michael A. Smith</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="22%"><FONT face="Times New Roman" size=2>148,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>150,002</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="23%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="13%"><FONT face="Times New Roman" size=2>298,002</FONT></TD></TR></TABLE></DIV><BR>
<DIV>____________________</DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD vAlign=top width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top width="1%">
      <P align=left><FONT face="Times New Roman" size=2><SUP>(1)</SUP></FONT></P></TD>
    <TD style="BORDER-TOP: #ffffff 6pt solid" vAlign=top width="97%">
      <P align=left><FONT face="Times New Roman" size=2>On May 15, 2014, Ms.
      Roberts and Messrs. Keyser, Ludwick, Manire, Modruson, Potter and Smith
      were each granted an award of 2,073 shares of common stock. All of the
      2014 equity awards to directors were fully vested upon grant. The amounts
      in the table represent the aggregate grant date fair value for these
      awards computed in accordance with Financial Accounting Standards
      Codification 718, Compensation &#150; Stock Compensation. Please see Note 18,
      &#147;Equity-Based Compensation,&#148; of Zebra&#146;s consolidated financial statements
      included in Zebra&#146;s Annual Report on Form 10-K for the year ended December
      31, 2014, for a discussion of assumptions made in calculating the grant
      date fair value of these
awards.</FONT></P></TD></TR></TABLE>


<P align=center><FONT face="Times New Roman" size=2>17</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><A NAME="a_006"></A><FONT face="Times New Roman" size=2>Compensation Committee
Report </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The Compensation Committee has
reviewed and discussed with management the Compensation Discussion and Analysis
set forth below. Based on its review and discussion with management, the
Compensation Committee has recommended to Zebra&#146;s Board of Directors that the
Compensation Discussion and Analysis be included in this proxy statement and in
Zebra&#146;s Annual Report on Form 10-K for the year ended December 31,
2014.</FONT></P>
<DIV align=right>
<TABLE style="LINE-HEIGHT: normal; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="40%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><B><FONT face="Times New Roman" size=2>Compensation Committee</FONT></B></TD></TR>
  <TR>
    <TD width="100%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Robert J. Potter, Chair</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Richard L. Keyser</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Janice Roberts</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Michael A. Smith</FONT></TD></TR></TABLE></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_007"></A>Executive Summary -
Compensation Discussion and Analysis </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Our Compensation Discussion
and Analysis focuses on Zebra&#146;s total rewards philosophy, the role of the
Compensation Committee (for
purposes of the Compensation Discussion and Analysis section, the &#147;Committee&#148;),
our total compensation components, market and peer group data, and the approach
used by the Committee when determining elements of the compensation package of
our executive officers, including base pay, annual incentive targets and
achievement, long-term equity incentive targets and performance, benefits and
employment agreements. </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Acquisition of
Enterprise Business of Motorola Solutions, Inc.<BR></FONT></I></B><FONT face="Times New Roman" size=2>In October 2014, Zebra acquired the Enterprise
business of Motorola Solutions, Inc. The Enterprise business had approximately
$2.5 billion in net sales in 2013 when owned by Motorola Solutions, resulting in
Zebra&#146;s pro forma net sales for 2013 being approximately $3.5 billion. As a
result of the acquisition and recruiting needs and changes made to executive
duties arising from the acquisition, five executive officers joined Zebra in
late 2014. One of these new executive officers, Joachim Heel, is a named
executive officer (as defined below). Other than Mr. Heel, this Executive
Summary and the Compensation Discussion and Analysis describe or refer to the
compensation of our new executive officers where specifically noted.
</FONT><B><I><FONT face="Times New Roman" size=2></FONT></I></B></P>
<P align=left><FONT face="Times New Roman" size=2>The following executive
officers&#146; compensation is disclosed and discussed in this proxy statement (the
&#147;named executive officers&#148;): </FONT></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">Anders Gustafsson, Chief Executive Officer</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">Hugh K. Gagnier, Senior Vice President, Asset
      Intelligence and Tracking</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">Joachim Heel, Senior Vice President, Global Sales</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">Michael C. Smiley, Chief Financial Officer</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">Michael H. Terzich, Senior Vice President, Chief
      Administrative Officer</TD></TR></TABLE><BR>
<P align=left><B><I><FONT face="Times New Roman" size=2>Setting 2014
Compensation and Incentive Targets for Executive
Officers<BR></FONT></I></B><FONT face="Times New Roman" size=2>Zebra&#146;s total
rewards program is designed to align our business strategy with increasing
stockholder value. An important aspect of our compensation philosophy and
programs is to pay competitively and reward for company and individual
performance. Base pay, annual incentive and long-term equity components are
determined within a pay-for-performance approach, targeted generally at market
median when target performance goals are achieved. Superior performance can
result in above median pay when target financial or individual performance goals
are exceeded.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>In designing and implementing
our total compensation program for 2014, we were primarily guided by market
compensation data of a peer group of publicly-traded companies, and market
compensation data provided by Towers Watson from three broad-based surveys. The
peer group data included: revenue, net income, market capitalization, one- and
three-year revenue change, one- and three-year net income change, net profit
margin, return on invested capital (&#147;ROIC&#148;), and one-, three- and five-year
total stockholder return (&#147;TSR&#148;) for each of the 24 peer group companies.
</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>18</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Zebra&#146;s executive officers&#146;
base salary compensation as of November 2013 ranged from 7.0% below to 30.2%
above the consensus market median (i.e., average of the peer group and three
broad-based surveys). Mr. Gustafsson&#146;s base salary was 6.2% above consensus
market median. The market data for target annual cash incentive compensation
indicated that our executive officers&#146; target annual cash incentive compensation
as of November 2013 ranged from 10.6% below to 26.6% above consensus market
median. Mr. Gustafsson&#146;s target annual cash incentive as a percentage of base
salary was 4.1% above the consensus market median. The market data for target
long-term incentive equity awards indicated that our executive officers&#146; equity
compensation from the 2013 annual grant ranged from 24.9% below to 32.8% above
consensus market median. Mr. Gustafsson&#146;s target long-term incentive equity
award from his 2013 annual grant was 5.3% above consensus market median.
</FONT></P>
<div align=left><B><I><FONT face="Times New Roman" size=2>Named Executive Officer
Compensation<BR></FONT></I></B><FONT face="Times New Roman" size=2>After
reviewing market data, considering our total rewards philosophy, the
recommendations of the CEO with respect to executive officer compensation, and
additional corporate governance issues such as a pay for performance analysis,
the Board or the Committee took the following actions respect to 2014
compensation and stock ownership: </FONT></div>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face=Arial size=2></FONT><FONT face="Times New Roman" size=2>Approved increases in base salaries for all executive officers as
      of April 1, 2014, including the CEO&#146;s base salary, except for one
      executive officer whose base salary significantly exceeded the consensus
      market median.</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face=Arial size=2></FONT><FONT face="Times New Roman" size=2>Approved increases from the 2013 annual cash incentive targets as a
      percentage of earned base salary of 5 percentage points over the 2014
      annual cash incentive targets for four of eight then executive officers.
      The CEO&#146;s 2014 annual cash incentive target was not increased over 2013
      and remained at 100% of earned base salary.</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face=Arial size=2></FONT><FONT face="Times New Roman" size=2>Approved 2014 annual cash incentive award targets to be paid in
      March 2015 to each named executive officer based on achieving certain
      levels of adjusted operating income. For each named executive officer, the
      payout is based on achieving at least 75% of the 2014 adjusted operating
      income performance target, with no payout if performance is below the 75%
      threshold performance. Actual 2014 adjusted operating income was
      $222,104,000, representing 118.0% of the adjusted operating income
      performance target of $188,200,000, resulting in a maximum (i.e., cap)
      payout percentage (before considering the ROIC modifier and individual
      performance) of 200% of the target incentive. </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face=Arial size=2></FONT><FONT face="Times New Roman" size=2>Reviewed the return on invested capital (&#147;ROIC&#148;) modifier for the
      2014 annual cash incentive, which applied to all named executive officers.
      Actual 2014 ROIC was 18.2%, which exceeded the 17.00% performance target
      but did not exceed the 23.00% maximum performance target. As a result, the
      ROIC modifier did not increase or decrease the potential 2014 annual cash
      incentive award amounts.</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face=Arial size=2></FONT><FONT face="Times New Roman" size=2>In March 2014, the Committee approved performance-vested restricted
      stock awards that constituted 40% of the grant date fair value of the
      named executive officers&#146; target equity awards, time-vested restricted
      stock awards that constituted 40% of the grant date fair value of the
      named executive officers&#146; target equity awards, and time-vested stock
      appreciation rights that constituted 20% of the grant date fair value of
      the named executive officers&#146; target equity awards. In April 2014, Zebra
      entered into an agreement to acquire the Enterprise business of Motorola
      Solutions, Inc. Mr. Gustafsson then recommended, and the Committee agreed,
      that the time-vested restricted stock awards and time-vested SARs would be
      granted in May as in prior years. To align the interests of Zebra officers
      who were designated to be granted performance-vested restricted stock
      awards and the interests of officers of the Enterprise business, Mr.
      Gustafsson also recommended, and the Committee agreed, to postpone the
      grant of the performance-vested restricted stock awards until after the
      completion of the acquisition. We completed the acquisition in October
      2014 and granted the performance-vested restricted stock awards in
      November 2014.</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face=Arial size=2></FONT><FONT face="Times New Roman" size=2>The performance-vested restricted stock awards granted in November
      2014 have a two-year performance period ending on December 31, 2016, and a
      payout based on achieving target levels of (1) net sales (weighted 60%) in
      2015 and 2016 and (2) adjusted EBITDA margin (weighted 40%) in 2015 and
      2016. </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face=Arial size=2></FONT><FONT face="Times New Roman" size=2>Approved the vesting in May 2014 of the 2011 performance-vested
      restricted stock awards that had a three-year performance period ended
      December 31, 2013. These awards vested at 62% of the target number of
      shares due to the achievement over the performance period of (1) a net
      sales CAGR (5.1%) that exceeded the 5.0% target for minimum payout
      established in 2011 and (2) an ROIC (28.8%) that exceeded the 14.0% target
      for maximum payout established in 2011. </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face=Arial size=2></FONT><FONT face="Times New Roman" size=2>Reviewed compliance with our stock ownership guidelines as of
      December 31, 2014, and as revised as of February 11, 2015, for
      non-employee directors and executive officers. This review showed that all
      directors </FONT></P></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>19</FONT></P>
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<P ALIGN="LEFT" STYLE="margin-left: 30pt"><FONT face="Times New Roman" size=2>and named executive officers
exceeded or are on track to exceed the stock ownership goals applicable to
them.</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Stockholders Approve
Compensation of Zebra&#146;s Named Executive Officers (Say on
Pay)<BR></FONT></I></B><FONT face="Times New Roman" size=2>At Zebra&#146;s 2014
annual meeting, we conducted a stockholder advisory vote regarding the 2013
compensation of executive officers as disclosed in the 2014 proxy statement.
Zebra&#146;s Board of Directors recommended stockholders approve the executive
officers&#146; compensation. The proposal was approved by 95.2% of the votes cast for
the proposal plus the votes cast against the proposal. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The Committee discussed the
results and determined that no changes to compensation philosophy or strategy
were required or should be considered as a result of the favorable stockholder
vote. While the advisory vote was positive, our Board, Compensation Committee
and executive officers regularly consider changes to our total rewards programs
to align our strategy to Zebra&#146;s business strategy and stockholder expectations.
For example and as described above, in 2014, the grant of performance-vested
restricted stock was postponed from the usual May grant to November in order to
align the interests of Zebra&#146;s officers who were designated to be granted
performance-vested restricted stock awards with the interests of employees of
the Enterprise business who joined Zebra upon completing the
acquisition.</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Annual Advisory Vote on
Compensation of Named Executive Officers (Say on
Frequency)<BR></FONT></I></B><FONT face="Times New Roman" size=2>Zebra holds an
annual stockholder advisory vote on the compensation of our named executive
officers. The next stockholder advisory vote on the frequency of stockholder
advisory votes on named executive officer compensation is anticipated to be held
in 2017.</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Independent Compensation
Committee <BR></FONT></I></B><FONT face="Times New Roman" size=2>Only
independent directors served on the Compensation Committee during 2014. Dr.
Potter served as the Chair of the Compensation Committee, and Ms. Roberts and
Messrs. Keyser and Smith also serving as members. None of the Compensation
Committee members has ever been an officer or employee of Zebra. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>20</FONT></P>
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<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_008"></A>Compensation Discussion
and Analysis</FONT></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Acquisition of
Enterprise Business of Motorola Solutions, Inc.<BR></FONT></I></B><FONT face="Times New Roman" size=2>In October 2014, Zebra acquired the Enterprise
business of Motorola Solutions, Inc. The Enterprise business had approximately
$2.5 billion in net sales in 2013 when owned by Motorola Solutions, resulting in
Zebra&#146;s pro forma net sales for 2013 being approximately $3.5 billion. As a
result of the acquisition and recruiting needs and changes made to executive
duties arising from the acquisition, five executive officers joined Zebra in
late 2014. One of these new executive officers, Joachim Heel, is a named
executive officer. Other than Mr. Heel, the Executive Summary and this
Compensation Discussion and Analysis describe or refer to the compensation of
our new executive officers only where specifically noted. </FONT><B><I><FONT face="Times New Roman" size=2></FONT></I></B></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Our Total Rewards
Philosophy<BR></FONT></I></B><FONT face="Times New Roman" size=2>The Committee
annually reviews the total rewards philosophy. Zebra&#146;s total rewards program is
designed to align our business strategy with increasing stockholder value.
Created with all employees in mind, our philosophy provides a holistic approach
containing five inter-related dimensions that focus on the overall employment
value proposition:</FONT></P>
<DIV align=center>
<TABLE style="padding-left: 4pt; padding-right: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="97%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Total Rewards Component</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="74%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Purpose of Component</FONT></B></TD></TR>
  <TR style="LINE-HEIGHT: normal; padding-top: 2pt; padding-bottom: 2pt">
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="25%">
      <P align=left><FONT face="Times New Roman" size=2>Compensation
    </FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="74%">
      <P align=left><FONT face="Times New Roman" size=2>Base salary- to attract
      and retain employees by compensating them for the primary functions and
      responsibilities of the position. </FONT></P>
      <P align=left><FONT face="Times New Roman" size=2>Annual cash incentive
      awards- to attract, retain, motivate and reward employees for achieving or
      surpassing key target performance goals at the Zebra, business unit and
      individual level. </FONT></P>
      <P align=left><FONT face="Times New Roman" size=2>Long-term equity awards-
      to attract, retain, motivate and reward top talent for the successful
      creation of stockholder value. </FONT></P></TD></TR>
  <TR style="LINE-HEIGHT: normal; padding-top: 2pt; padding-bottom: 2pt">
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="25%">
      <P align=left><FONT face="Times New Roman" size=2>Benefits</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="74%">
      <P align=left><FONT face="Times New Roman" size=2>To attract and retain
      employees by providing competitive health, welfare and retirement benefits
      packages in order to maintain their overall health.</FONT></P></TD></TR>
  <TR style="LINE-HEIGHT: normal">
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="25%">
      <P align=left><FONT face="Times New Roman" size=2>Work-Life and Well-Being
      </FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="74%">
      <P align=left><FONT face="Times New Roman" size=2>To attract and retain
      employees by providing programs that actively support and facilitate
      employees to achieve success at work and home through good health and
      wellness for body and mind. </FONT></P></TD></TR>
  <TR style="LINE-HEIGHT: normal; padding-top: 2pt; padding-bottom: 2pt">
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="25%">
      <P align=left><FONT face="Times New Roman" size=2>Performance and
      Recognition </FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="74%">
      <P align=left><FONT face="Times New Roman" size=2>To attract, retain,
      motivate and reward employees for achievements that meet and surpass
      expectations.</FONT></P></TD></TR>
  <TR style="LINE-HEIGHT: normal; padding-top: 2pt; padding-bottom: 2pt">
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="25%">
      <P align=left><FONT face="Times New Roman" size=2>Development and Career
      </FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="74%">
      <P align=left><FONT face="Times New Roman" size=2>To attract, retain and
      motivate employees by providing a learning foundation that allows
      employees to take charge of their career in support of business
      requirements. </FONT></P></TD></TR></TABLE></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>The objectives of Zebra&#146;s
total rewards approach are to: </FONT></P>
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    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2></FONT><FONT face="Times New Roman" size=2>Increase stockholder value through long-term
      stock price growth.</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2>Maximize the financial
      performance of Zebra. </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2></FONT><FONT face="Times New Roman" size=2>Facilitate the delivery of the highest
      quality goods and services to our customers. </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2></FONT><FONT face="Times New Roman" size=2>Encourage our employees to take actions that
      balance short-term achievements with long-term success without excessive
      risk. </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2></FONT><FONT face="Times New Roman" size=2>Motivate behavior to attain Zebra&#146;s
      objectives. </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2></FONT><FONT face="Times New Roman" size=2>Attract, retain and reward the highest
      performing employees who contribute to our success.
  </FONT></P></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>21 </FONT></P>
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<P align=left><B><I><FONT face="Times New Roman" size=2>Role of Our Compensation
Committee <BR></FONT></I></B><FONT face="Times New Roman" size=2>The Committee
is comprised entirely of independent directors and assists the Board with its
responsibilities regarding the total compensation of our executive officers and
non-employee directors by overseeing our compensation and benefit programs. The
Committee fulfills its responsibility by: </FONT></P>
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  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2></FONT><FONT face="Times New Roman" size=2>Reviewing our total rewards philosophy
      annually to ensure the components align with the objectives of our total
      rewards philosophy. </FONT></P></TD></TR>
    <TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2></FONT><FONT face="Times New Roman" size=2>Seeking the counsel of our management team
      and advisors, such as that of a compensation consultant, for input and
      guidance.</FONT></P></TD></TR>
    <TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2></FONT><FONT face="Times New Roman" size=2>Reviewing its charter annually to ensure its
      actions align with its responsibility delegated by the Board.
    </FONT></P></TD></TR>
    <TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2></FONT><FONT face="Times New Roman" size=2>Fulfilling its responsibilities identified
      in its charter using a sound corporate governance approach that balances
      an appropriate level of risk tolerance with a total rewards philosophy.
      </FONT></P></TD></TR></TABLE>
<P align=left><B><I><FONT face="Times New Roman" size=2>Zebra&#146;s Independent
Compensation Consultants <BR></FONT></I></B><FONT face="Times New Roman" size=2>With respect to 2014, the Compensation Committee engaged Towers Watson as
its independent executive compensation consultant to provide competitive peer
group and executive compensation data, analysis and guidance when (1)
establishing a peer group for compensation purposes, (2) setting executive
officer and non-employee director compensation, and (3) reviewing performance
and determining payouts with respect to performance-based awards.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The Committee has received a
report from Towers Watson in which Towers Watson reported its conclusion that
Towers Watson is an independent advisor to the Committee and that no conflict of
interest exists with respect to the services of Towers Watson or the services
rendered in 2014. In reaching this conclusion, Towers Watson reported that (1)
it exclusively provides executive and director compensation consulting services
to the Committee and did not provide any other services to Zebra in 2014, (2)
the total amount of fees paid by Zebra to Towers Watson for services in 2014 was
less than 1% of the consolidated revenue of Towers Watson for any of its most
recent three fiscal years, (3) Towers Watson maintains policies and internal
review procedures to identify and prevent conflicts of interest, (4) no regular
member of the Towers Watson executive compensation team serving Zebra has a
business or personal relationship with a member of the Committee that would
create a conflict of interest, (5) no regular member of the Towers Watson
executive compensation team serving Zebra owns stock of Zebra, and (6) no
regular member of the Towers Watson executive compensation team serving Zebra
has a business or personal relationship with an executive officer of Zebra that
would create a conflict of interest. </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Our Compensation
Approach <BR></FONT></I></B><FONT face="Times New Roman" size=2>In designing and
implementing our total compensation program for 2014, we were primarily guided
by market compensation data of a peer group of publicly-traded companies which
our Committee views as comparable to Zebra, as well as market compensation data
from three broad-based surveys. As detailed further below, the peer group
companies were selected by the Committee as being within a reasonable range of
similar revenue and market capitalization to Zebra, having a global business,
having similar alignment with a variety of financial metrics, having a similar
business model and products of a similar technical nature, and with a
consideration of whether a potential peer also regards Zebra as a peer. The
competitive compensation data is reviewed and utilized by the Committee when
developing the design of our executive officer compensation program and setting
executive compensation levels and targets. </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Our Total Compensation
Components <BR></FONT></I></B><FONT face="Times New Roman" size=2>Our total
compensation program includes four components: base salary, annual incentive,
long-term equity incentive and employee benefits. Each component serves a
particular purpose and, therefore, each is considered independent of the other
components, although all four components combined provide a holistic total
compensation approach within our overall total rewards philosophy in order to
attract, retain, motivate, develop and reward our employees. For 2014, the
Committee determined each executive officer&#146;s compensation component levels by
comparing each total compensation component to market data reflective of that
compensation component. The Committee did not use a targeted pay mix to allocate
total compensation among these components.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The base salary, annual
incentive and long-term equity incentive components are determined within a
pay-for-performance approach, targeted at market median when target performance
goals are achieved, and can result in </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>22 </FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>superior</FONT><B><FONT face="Times New Roman" size=2> </FONT></B><FONT face="Times New Roman" size=2>pay when target performance goals are exceeded and/or individual
performance exceeds expectations. Actual cash compensation varies based upon the
attainment of financial and individual performance goals, as well as each
executive officer&#146;s position, responsibilities and overall experience. The
process by which individual performance goals are established and reviewed is
described below under &#147;</FONT><I><FONT face="Times New Roman" size=2>Performance
Management Process and Talent Management Review.&#148;</FONT></I><FONT face="Times New Roman" size=2> Employee benefits are designed with features that
align with market median program offerings. The following table describes the
purpose of each component and how that component is related to our
pay-for-performance approach and budget: </FONT></P>
<TABLE style="padding-left: 4pt; padding-right: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR STYLE="background-color: Silver">
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"><B><FONT face="Times New Roman" size=2>Compensation</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="40%"><B><FONT face="Times New Roman" size=2>Compensation Component in Relation
    to</FONT></B></TD></TR>
  <TR STYLE="background-color: Silver">
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="15%"><B><FONT face="Times New Roman" size=2>Component</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="44%"><B><FONT face="Times New Roman" size=2>Purpose of Compensation Component</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="40%"><B><FONT face="Times New Roman" size=2>Performance and Budget</FONT></B></TD></TR>
  <TR style="PADDING-BOTTOM: 2pt; LINE-HEIGHT: normal; PADDING-TOP: 2pt">
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="15%">
      <P align=left><FONT face="Times New Roman" size=2>Base
salary</FONT></P></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="44%">
      <P align=left><FONT face="Times New Roman" size=2>To attract and retain
      employees by compensating them for the primary functions and
      responsibilities of the position. </FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="40%">
      <P align=left><FONT face="Times New Roman" size=2>Any base salary increase
      an employee receives depends upon the employee&#146;s individual performance,
      and the employee&#146;s displayed skills and competencies, all established
      within the overall salary budget. </FONT></P></TD></TR>
  <TR style="PADDING-BOTTOM: 2pt; LINE-HEIGHT: normal; PADDING-TOP: 2pt">
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="15%">
      <P align=left><FONT face="Times New Roman" size=2>Annual cash incentive
      <BR>awards </FONT></P></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="44%">
      <P align=left><FONT face="Times New Roman" size=2>To attract, retain,
      motivate and reward employees for achieving or surpassing key target
      performance goals at the Zebra, business unit and individual level.
      </FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="40%"><FONT size=2 face="Times New Roman">Financial and individual performance determines the actual amount
      of the employee&#146;s annual cash incentive award. Award amounts are
      &#147;self-funded&#148; because they are included in Zebra&#146;s financial performance
      results when determining actual financial performance.</FONT></TD></TR>
  <TR style="PADDING-BOTTOM: 2pt; LINE-HEIGHT: normal; PADDING-TOP: 2pt">
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="15%">
      <P align=left><FONT face="Times New Roman" size=2>Long-term equity
      awards</FONT></P></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="44%">
      <P align=left><FONT face="Times New Roman" size=2>To attract, retain,
      motivate and reward top talent to increase stockholder value.
    </FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="40%"><FONT size=2 face="Times New Roman">The employees&#146; past performance and future potential determines the
      amount of equity granted to them, established within an annual equity
      grant budget. Additionally, the collective performance of our employees to
      attain our financial goals is one of many factors influencing stock price
      growth resulting in wealth creation. </FONT></TD></TR>
  <TR style="PADDING-BOTTOM: 2pt; LINE-HEIGHT: normal; PADDING-TOP: 2pt">
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="15%">
      <P align=left><FONT face="Times New Roman" size=2>Employee benefits
      </FONT></P></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="44%">
      <P align=left><FONT face="Times New Roman" size=2>To attract and retain
      employees by providing competitive health, welfare and retirement benefits
      packages in order to maintain their overall health. </FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="40%">
      <P align=left><FONT face="Times New Roman" size=2>Established within the
      overall employee benefit budget. </FONT></P></TD></TR></TABLE><BR>
<P align=left><B><I><FONT face="Times New Roman" size=2>Performance Management
Process and Talent Management Review <BR></FONT></I></B><FONT face="Times New Roman" size=2>Our annual performance management process and the
results of our annual talent management review are important aspects of the
Committee&#146;s determination of compensation component levels and targets for our
executive officers. Individual performance criteria and an executive officer&#146;s
talent assessment consist of a combination of objective and subjective criteria.
Individual performance goals were established for all executive officers as of
January 1, 2014, and final evaluations were conducted in early 2015 under our
annual performance review process.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Performance Management
Process for Individual Performance Goals:</FONT></I><FONT face="Times New Roman" size=2> At the beginning of each year, Mr. </FONT><FONT face="Times New Roman" size=2>Gustafsson meets with each executive officer and discusses the executive
officer&#146;s individual performance goals for the year. In general, individual
performance goals for an executive officer are those strategic initiatives led
by the executive officer. Mr. Gustafsson then presents each executive officer&#146;s
individual performance goals to the Committee for approval. The Board of
Directors and Chairman Smith work with Mr. Gustafsson to establish Mr.
Gustafsson&#146;s individual performance goals for the year, though Mr. Gustafsson&#146;s
performance goals for the year are not given an incentive weight within our
short-term or long-term compensation programs. After the year end, Mr.
Gustafsson evaluates the attainment of each individual performance goal and the
executive officer&#146;s leadership and contributions in achieving the performance
goal, and presents his assessment to the Committee for their review, including
Mr. Gustafsson&#146;s recommended &#147;multiplier&#148; for each executive officer. The
multiplier is 1.0 if the executive officer has met expectations with respect to
individual performance goals, and is a below 1.0 or above 1.0 to the extent the
executive officer has not met, or has exceeded, individual performance goals as
recommended by Mr. Gustafsson and approved by the Committee. The Board has an
annual formal evaluation process led by Chairman Smith, through which it
assesses the performance of Mr. Gustafsson, including determining the extent to
which Mr. Gustafsson&#146;s individual performance objectives are met. For 2014
performance, Chairman Smith and Mr. Keyser communicated the results of the
Board&#146;s evaluation to Mr. Gustafsson. Mr. Gustafsson communicated to </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>23 </FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>each executive officer the
results of his evaluation and recommendations to the Committee, as well as the
Committee&#146;s discussion and decision as to the 2014 annual incentive award. The
performance evaluations by Mr. Gustafsson may take into account other factors
such as (1) performance of daily responsibilities; (2) particular or general
contributions to the overall management of Zebra; and (3) display of behaviors
against Zebra&#146;s values.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Talent Management
Review:</FONT></I><FONT face="Times New Roman" size=2> After completing the
annual performance evaluations, Mr. Gustafsson presents an overall talent
management review to the Board, discussing the past performance and future
potential of each executive officer and each of their direct reports, including
a discussion of key skills, competencies, developmental opportunities and
succession plans. </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Establishing Our Peer
Group<BR></FONT></I></B><FONT face="Times New Roman" size=2>As part of the
Committee&#146;s annual review of the companies that comprise the peer group for
executive compensation purposes, in July 2013, Towers Watson provided
comparative financial and other information with respect to the then-current
company peer group, as well as a group of ten companies that met the criteria
Zebra uses to select its peer group and therefore could be considered as
additions to the Zebra peer group. Towers Watson also reviewed the 16 companies
that are included in the peer group used by ISS for its own analyses. Current
and prospective members of Zebra&#146;s peer group are evaluated along the following
factors: annual revenues (0.5x to 2.0x Zebra), market capitalization (0.5x to
2.0x Zebra), similarity of alignment of a variety of financial metrics, global
presence, similarity of business model, having products of a similar technical
nature, and whether a potential peer also regards Zebra as a peer. Towers Watson
recommended that the Committee remove two companies from Zebra&#146;s peer group
because one company had been acquired and another had agreed to be acquired.
Towers Watson also recommended three additions to the peer group. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The Committee reviewed the
peer group membership and recommended changes. The Committee then approved the
removal from the peer group of Power One Inc. due to the completion of its
acquisition. The Committee also approved the addition to the peer group of
Netgear, Inc., FEI Company and Plantronics, Inc., resulting in a new peer group
for 2014 compensation purposes of 24 companies. This new peer group is set forth
in the table below.</FONT></P>
<DIV align=center>
<TABLE style="padding-left: 4pt; padding-right: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="94%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="99%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Zebra&#146;s Peer Group for 2014
      Compensation Purposes</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Arris Enterprises, Inc.</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Finisar Corp.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Netgear, Inc.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Brady Corp.</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>FLIR
      Systems, Inc.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Plantronics, Inc.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Checkpoint Systems, Inc.</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Intermec, Inc.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Polycom, Inc.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Ciena Corporation</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Itron, Inc.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>ScanSource, Inc.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Coherent, Inc.</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>KEMET Corp.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Teradata Corp.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Dolby Laboratories, Inc.</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>KLA-Tencor Corp.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Teradyne, Inc.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Electronics for Imaging, Inc.</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>LAM
      Research Corp.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Trimble Navigation, Ltd.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>FEI
      Company</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Logitech International</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Waters
Corp.</FONT></TD></TR></TABLE></DIV><BR>
<P align=left><B><I><FONT face="Times New Roman" size=2>Peer Group
Performance<BR></FONT></I></B><FONT face="Times New Roman" size=2>In November
2013 Towers Watson provided comparative financial and stock market performance
data about each peer group member, including: </FONT></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2>annual revenue (15
      companies larger than Zebra);</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2>net income (7 companies
      larger than Zebra);</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman">current market value (9
      companies larger than Zebra) </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%" >one-year revenue percentage
      change (10 companies higher than Zebra);</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2>three-year revenue
      percentage change (13 companies higher than Zebra);</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2>one-year net income
      percentage change (7 companies higher than Zebra, not meaningful for 10
      companies);</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2>three-year net income
      percentage change (2 companies higher than Zebra, not meaningful for 12
      companies);</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2>net profit margin (9
      companies higher than Zebra);</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face="Times New Roman" size=2>ROIC (4 companies higher
      than Zebra);</FONT></P></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>24 </FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">
      <P STYLE="text-align: left"><FONT face="Times New Roman" size=2></FONT><FONT face="Times New Roman" size=2>one-year total stockholder return as of
      October 24, 2013 (10 companies higher than Zebra);</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">
      <P STYLE="text-align: left"><FONT face="Times New Roman" size=2>three-year total
      stockholder return as of October 24, 2013 (10 companies higher than
      Zebra); and</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">
      <P STYLE="text-align: left"><FONT face="Times New Roman" size=2>five-year total
      stockholder return as of October 24, 2013 (14 companies higher than
      Zebra).</FONT></P></TD></TR></TABLE>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>This information assists the
Committee in assessing Zebra&#146;s relative size and performance against all peer
group companies. This information offers a perspective on the appropriateness of
the peer group membership for purposes of Zebra&#146;s executive compensation and how
well Zebra, and therefore its executive officers, are performing vis-a-vis peer
group members.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Peer Group and
Broad-Based Survey Executive Compensation Data </FONT></I></B><BR><FONT face="Times New Roman" size=2>For 2014 compensation
purposes, in November 2013, Towers Watson presented to the Committee
compensation data regarding compensation of executive officers holding similar
positions in our peer group and in technology and other industries. The
compensation data sources used by Towers Watson consisted of compensation data
from our peer group of 24 companies, a proprietary survey from Towers Watson
(reflecting data from companies with annual revenues less than $3 billion), and
the Radford Executive Survey (reflecting data from high technology companies
with annual revenues between $500 million and $2 billion). </FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>From these sources, Towers
Watson compiled market-based compensation data at the 25<SUP>th</SUP>
percentile, median and 75th percentile levels for each of these four sources, as
well as consensus (i.e., average) compensation data, for base salaries, annual
cash incentive awards, long-term equity awards and total direct compensation
(the sum of base salaries, annual cash incentive awards and long-term equity
awards) for individual executive officer positions.</FONT></P>
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  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">
      <P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Base Salary.
      </FONT></I></B><FONT face="Times New Roman" size=2>The market compensation
      data indicated that our individual executive officers&#146; base salary
      compensation as of November 2013 ranged from 7.0% below to 30.2% above the
      consensus market median. The market data indicated that Mr. Gustafsson&#146;s
      base salary was 6.2% above consensus market median.</FONT></P></TD></TR>
    <TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">
      <P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Target Annual Cash Incentive
      Compensation. </FONT></I></B><FONT face="Times New Roman" size=2>The
      market data for target annual cash incentive compensation indicated that
      our individual executive officers&#146; target annual cash incentive
      compensation as a percent of base salary as of November 2013 ranged from 5
      percentage points below to six percentage points above consensus market
      median. In addition, the target annual cash incentive compensation in
      absolute dollar terms ranged from 10.6% below to 26.6% above consensus
      market median. The market data indicated that Mr. Gustafsson&#146;s target
      annual cash incentive as a percentage of base salary was three percentage
      points below the consensus market median and his target annual cash
      incentive compensation in absolute dollar terms was 4.1% above median.
      </FONT></P></TD></TR>
    <TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">
      <P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Long-Term Incentive Equity
      Award. </FONT></I></B><FONT face="Times New Roman" size=2>The market data
      for target long-term incentive equity awards indicated that our executive
      officers&#146; equity compensation from the 2013 annual grant ranged from 24.9%
      below to 32.8% above consensus market median. Mr. Gustafsson&#146;s target
      long-term incentive equity award from his 2013 annual grant was 5.3% above
      consensus market median. </FONT></P></TD></TR></TABLE>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Recommendations by CEO
Regarding 2014 Compensation<BR></FONT></I></B><FONT face="Times New Roman" size=2>In connection with establishing the compensation of executive officers
(other than the CEO) for 2014, Mr. Gustafsson reviewed the competitive executive
compensation data described above. Mr. Gustafsson also reviewed the historical
compensation of each of the executive officers, including base salary, target
and actual annual cash incentive awards, and the grant date fair value of prior
equity awards granted to each executive officer. Mr. Gustafsson presented, and
the Committee reviewed, Mr. Gustafsson&#146;s compensation recommendations regarding
each executive officer at the February 2014 meeting of the Committee.
</FONT></P>
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  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>2014 Base Salaries.
      </FONT></I></B><FONT face="Times New Roman" size=2>Each executive officer
      has a base salary which is established by the Committee (or, in the case
      of Mr. Gustafsson, the Board). For 2013, no executive officer base
      salaries were increased in light of the expected challenging economic and
      budget environment in 2013 and Mr. Gustafsson&#146;s recommendation that more
      emphasis on incentive pay would help drive growth in 2013. For 2014, Mr.
      </FONT><FONT face="Times New Roman" size=2>Gustafsson recommended that the
      base salaries of all executive officers as of April 1, 2014, (except one
      be increased from 2013. Mr. Heel joined Zebra on September 15, 2014, and
      his salary reflected in the table </FONT></P></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>25 </FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P ALIGN="LEFT" STYLE="margin-left: 30pt"><FONT face="Times New Roman" size=2>below is his salary as set
forth in his employment agreement. Mr. Gustafsson also recommended, as further
described below, that the Committee consider approving increases in the target
annual cash incentive award of four of the eight executive officers (other than
Mr. Gustafsson). The Committee discussed Mr. </FONT><FONT face="Times New Roman" size=2>Gustafsson&#146;s recommendations and approved the recommended base salaries
of the executive officers for 2014. The Committee also recommended to the Board
that Mr. Gustafsson&#146;s 2014 base salary, which had remained at $800,000 since
2012, be increased to $850,000. The Board considered the Committee&#146;s
recommendation and approved the increase in Mr. Gustafsson&#146;s base
salary.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Our named executive officers&#146;
annual base salaries are included in the following table:</FONT></P>
<TABLE style="padding-left: 4pt; padding-right: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="49%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Named Executive</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Officer</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>2012
    Salary</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>2013
    Salary</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>2014
    Salary</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Percentage
      Increase</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Effective
      Date</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=1>Anders Gustafsson</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$800,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$800,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$850,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>6.25%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4/1/2014</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=1>Hugh
      K. Gagnier</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$373,500</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$373,500</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$380,970</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>2.00%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4/1/2014</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=1>Joachim Heel</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>N/A</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>N/A</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$450,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>N/A</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>9/15/2014</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=1>Michael C. Smiley</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$381,600</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$381,600</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$396,864</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4.00%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4/1/2014</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=1>Michael H. Terzich</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$338,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$338,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>$344,760</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>2.00%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4/1/2014</FONT></TD></TR></TABLE><BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">
      <P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>2014 Target Annual Cash
      Incentive Awards. </FONT></I></B><FONT face="Times New Roman" size=2>Each
      executive officer has a target annual cash incentive award, which is
      established by the Committee (or, in the case of Mr. Gustafsson, the
      Board) and set as a percentage of base salary. As noted above, Mr.
      Gustafsson recommended that the Committee consider approving increases
      (other than for Mr. Gustafsson) in the target annual cash incentive award
      of four of eight executive officers as of April 1, 2014. Mr. Heel joined
      Zebra on September 15, 2014, and his target annual cash incentive salary
      reflected in the table below is the incentive set forth in his employment
      agreement. </FONT></P></TD></TR></TABLE>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Except for Mr. Heel, who
joined Zebra on September 15, 2014, the Committee reviewed the market data,
discussed each executive officer&#146;s performance with Mr. Gustafsson and assessed
each executive officer&#146;s target annual incentive in terms of both a percentage
of base salary and in absolute dollar amounts in comparison to the market data.
As a result, the 2014 target annual and maximum incentive percentages for named
executive officers were established as follows:</FONT></P>
<TABLE style="padding-left: 4pt; padding-right: 4pt;LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="39%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>2014</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>2014</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="39%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Target</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Maximum</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="39%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>2012
    Target</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>2012
      Maximum</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>2013
    Target</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>2013
      Maximum</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Annual</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Annual</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="39%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Named
      Executive</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Annual
    Cash</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Annual
    Cash</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Annual
    Cash</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Annual
    Cash</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Cash</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Cash</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Officer</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face="Times New Roman" size=1>Anders Gustafsson</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>100%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>200%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>100%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>200%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>100%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>200%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face="Times New Roman" size=1>Hugh
      K. Gagnier</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>60%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>120%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>65%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>130%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>70%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>140%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face="Times New Roman" size=1>Joachim Heel</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>N/A</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>N/A</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>N/A</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>N/A</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>75%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>150%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face="Times New Roman" size=1>Michael C. Smiley</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>65%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>130%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>75%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>150%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>75%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>150%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face="Times New Roman" size=1>Michael H. Terzich</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>60%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>120%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>65%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>130%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>70%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>140%</FONT></TD></TR></TABLE><BR>
<P align=left><FONT face="Times New Roman" size=2>The target annual cash
incentive awards for 2014 had the effect of moving the two officers closer to
the market median. The actual annual incentive awards that would be payable to
each executive officer is calculated as a percentage of the officer&#146;s eligible
compensation defined as base salary earned during the calendar year.</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Performance Goals under
the 2014 Annual Cash Zebra Incentive Plan<BR></FONT></I></B><FONT face="Times New Roman" size=2>The 2014 Zebra Incentive Plan (&#147;ZIP&#148;) provided for
an annual cash incentive award based on the achievement of financial and
individual performance goals during 2014. All named executive officers
participated in the ZIP. Two executive officers who joined Zebra upon completion
of the acquisition of the Enterprise business participated in the 2014
Enterprise Incentive Plan (&#147;EIP&#148;) adopted by the Board on October 20, 2014. The
EIP was established pursuant to the Employee Matters Agreement between Zebra and
Motorola Solutions. The ZIP contained an initial </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>26 </FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>financial performance goal for
executive officers, which is intended to qualify the ZIP awards as
performance-based compensation under Section 162(m) of the Internal Revenue
Code. Qualified performance-based compensation is fully tax deductible by Zebra
as compensation under the Internal Revenue Code. The initial financial
performance goal was positive Zebra income from operations, which was applied
before any additional financial or individual performance goals were applied.
Under this goal, the ZIP award amount for the Chief Executive Officer could not
exceed 1.5% of positive Zebra adjusted income from operations or exceed 0.5% of
positive Zebra adjusted income from operations for each other executive officer.
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Additional financial
performance goals were established for the purpose of exercising negative
discretion under the ZIP. For the 2014 ZIP, Zebra&#146;s adjusted income from
operations was established as a financial performance goal with specific
performance targets established for threshold, target and maximum payouts. The
threshold and maximum performance payout percentages were 50% and 200%,
respectively. Achievement below the threshold would result in a 0% payout
percentage. Achievement of adjusted income from operations performance levels,
modified as described below by ROIC performance, was weighted 100% at each
executive officer&#146;s 2014 target annual cash incentive award. The initial amount
earned, however, could be modified by the Board (for Mr. Gustafsson) or
Committee (for all other executive officers) as a result of individual
performance goal achievement. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Each executive officer&#146;s 2014
annual cash incentive under the ZIP, including Mr. Gustafsson&#146;s, was subject to
an ROIC modifier. As shown below in a table, if the ROIC target range were
achieved, the annual cash incentive amount would not be modified. If the ROIC
target range were exceeded, the annual cash incentive amount would be increased
by 10%. If the ROIC target range were not achieved, the annual cash incentive
amount would be reduced by 10% or 100% depending upon the level of ROIC
achievement in relation to the target range. The ROIC modifier may not increase
an incentive award beyond a maximum 200% award payment.</FONT></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">
      <P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Individual Performance Goals
      under the ZIP: </FONT></I><FONT face="Times New Roman" size=2>As described
      above under</FONT><B><FONT face="Times New Roman" size=2>
      &#147;</FONT></B><I><FONT face="Times New Roman" size=2>Performance Management
      Process and Talent Management Review,&#148;</FONT></I><FONT face="Times New Roman" size=2> each executive officer&#146;s 2014 annual cash
      incentive award could be modified by the achievement of individual
      performance goals. These goals varied by executive officer as recommended
      by Mr. Gustafsson and approved by the Committee and, with respect to Mr.
      </FONT><FONT face="Times New Roman" size=2>Gustafsson, as established by
      the Board. Mr. Gustafsson presents his performance assessment relative to
      individual performance goals and proposed incentive award recommendations
      to the Committee for their review and approval regarding goal attainment
      and approval of annual incentive award amounts. </FONT></P></TD></TR>
    <TR>
    <TD STYLE="padding-right: 8pt; padding-left: 15pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">
      <P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>2014 Financial Performance Goals
      and Performance Targets: </FONT></I><FONT face="Times New Roman" size=2>The 2014 financial performance goals and performance targets, as
      well as the threshold, target, maximum and actual results are reflected in
      the following three tables:</FONT></P></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>27 </FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>2014 Financial
Performance Goals and Targets </FONT></B></P>
<TABLE style="padding-left: 4pt; padding-right: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Performance</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>2014
      Performance</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>2014
      Performance</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>2014
      Performance</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Goal</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="44%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Definition</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Threshold</FONT></B><FONT face="Times New Roman" size=2><SUP>2</SUP></FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Target</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Maximum</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>Adjusted</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>Income from operations for
      the</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>75% of adjusted</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>100% of adjusted</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>115%
      of adjusted</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>Income from</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>applicable period, adjusted to
      remove</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>operating income</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>operating income</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>operating income</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>Operations</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>non-recurring charges, as
      applicable.<SUP>1</SUP></FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>target</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>target</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>target</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>($141,100,000)</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>($188,200,000)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>($216,400,000)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>Award is 50% of</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>Award is 100% of</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>Award is 200% of</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="44%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>target incentive</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>target incentive</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>target incentive</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>Return on</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>Net Operating Profit After
      Tax</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>12.00-16.99%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>17.00% to 22.99%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>Performance: At or</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>Invested</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>(NOPAT) for 2014 divided
    by</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>above 23.00%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>Capital</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>Invested Capital where (a) NOPAT
      =</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>Award reduced by</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>Award amount</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>Adjusted Income from Operations
      x</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>10%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>unchanged</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>Award increased by</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>(1-budgeted tax rate) and
      (b)</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>10%
      but may not</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>Invested Capital = total assets
      minus</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>exceed 200% of</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>(cash and cash equivalents,
      current</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><FONT face="Times New Roman" size=2>target incentive</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>and long-term investments
      and</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>marketable securities, and
      non-</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>interest-bearing current
      liabilities),</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>and which is calculated as
      the</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>average Invested Capital reflected
      on</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>five balance sheets (end of Q4
      2013</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="10%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>and
      each of Q1-Q4 2014).</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="15%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="15%"></TD></TR></TABLE><DIV>____________________</DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD vAlign=top width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top width="1%">
      <P align=left><FONT face="Times New Roman" size=2><SUP>1</SUP></FONT></P></TD>
    <TD style="BORDER-TOP: #ffffff 6pt solid" vAlign=top width="97%">
      <P align=left><FONT face="Times New Roman" size=2>Non-recurring charges
      specifically include such expense items as (i) one-time charges,
      non-operating charges or expenses incurred that are not under the control
      of operations management, as approved by the Committee; (ii) restructuring
      expenses; (iii) exit expenses; (iv) acquisition, integration and
      divestiture expenses; (v) Board of Directors projects (e.g., director
      searches); (vi) gains or losses on the sale of assets; (vii) acquired
      in-process technology; (viii) impairment charges; and (ix) changes in
      GAAP. The above list is not exhaustive and is meant to represent examples
      of the kind of expenses typically excluded from the calculations of Income
      from Operations. Acquisitions: generally, for the first quarter beginning
      at least six months after an acquisition closes, the financial targets
      will be adjusted to incorporate the acquired company&#146;s budget or financial
      plan. The reported financial performance will also be adjusted to include
      the acquired company&#146;s actual performance for the first quarter beginning
      at least six months after an acquisition closes.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top width="1%">
      <P align=left><FONT face="Times New Roman" size=2><SUP>2</SUP></FONT></P></TD>
    <TD style="BORDER-TOP: #ffffff 6pt solid" vAlign=top width="97%">
      <P align=left><FONT face="Times New Roman" size=2>Performance below 75% of
      adjusted operating income performance target (i.e., threshold performance)
      or performance below the 12.00% ROIC performance threshold results in a 0%
      payout. Performance between the stated performance levels is interpolated
      on a straight line basis.</FONT><B><FONT face="Times New Roman" size=2>
      </FONT></B><B><FONT face="Times New Roman" size=2></FONT></B></P></TD></TR></TABLE><BR>
<P align=center><B><FONT face="Times New Roman" size=2>2014 Financial
Performance Goal Achievement and Payout Percentage before Considering
Individual<BR>Performance </FONT></B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" ALIGN="CENTER" STYLE="padding-left: 4pt; padding-right: 4pt; line-height: 14pt; border-collapse: collapse; width: 80%">

  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-top: #000000 1pt solid; border-left: #000000 1pt solid; text-align: left; width: 33%; background-color: #c0c0c0"></TD>
    <TD NOWRAP STYLE="border-top: #000000 1pt solid; border-left: #000000 1pt solid; text-align: left; width: 33%; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Actual Performance</FONT></B></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-left: #000000 1pt solid; border-top: #000000 1pt solid; text-align: left; width: 33%; background-color: #c0c0c0"></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: left; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Performance Goal</FONT></B></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: left; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Achievement</FONT></B></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; border-left: #000000 1pt solid; text-align: left; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Payout Percentage</FONT></B></TD></TR>
  <TR vAlign=bottom style="LINE-HEIGHT: normal; padding-top: 2pt; padding-bottom: 2pt">
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; vertical-align: top; text-align: left"><FONT face="Times New Roman" size=2>Adjusted Income from<BR>Operations</FONT></TD>
    <TD STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; vertical-align: top; text-align: left"><FONT face="Times New Roman" size=2>$222,104,000, or 118.0% of adjusted operating income
      performance target</FONT></TD>
    <TD STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; border-left: #000000 1pt solid; vertical-align: top; text-align: left"><FONT face="Times New Roman" size=2>200%
      of target incentive</FONT></TD></TR>
  <TR vAlign=bottom style="LINE-HEIGHT: normal; padding-top: 2pt; padding-bottom: 2pt">
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; vertical-align: top; text-align: left"><FONT face="Times New Roman" size=2>Return on Invested Capital</FONT></TD>
    <TD STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; vertical-align: top; text-align: left"><FONT face="Times New Roman" size=2>18.2%</FONT></TD>
    <TD STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; border-left: #000000 1pt solid; vertical-align: top; text-align: left"><FONT face="Times New Roman" size=2>Modifier equals 1.0, resulting in no potential increase to
      award amounts</FONT></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>28 </FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>2014 Annual Cash
Incentive Award by Named Executive Officer </FONT></B></P>
<DIV align=center>
<TABLE style="padding-left: 4pt; padding-right: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="49%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Actual Award</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="49%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>As a
      Percent</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="49%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>of
    Eligible</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Actual</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Named executive officer</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Threshold</FONT></B><B><FONT face="Times New Roman" size=2><SUP>1</SUP></FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Target</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Maximum</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Compensation</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Award</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Anders Gustafsson</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>50.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>100.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>200.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>200.0%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>$1,677,808</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Hugh
      K. Gagnier</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>35.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>70.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>140.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>200.0%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>$531,037</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Joachim Heel</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>37.5%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>75.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>150.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>200.0%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>$199,726</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Michael C. Smiley</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>37.5%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>75.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>150.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>200.0%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>$590,215</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Michael H. Terzich</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>35.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>70.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>140.0%</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>200.0%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>$480,564</FONT></TD></TR></TABLE></DIV><DIV>____________________</DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="1%">
      <P align=left><B><FONT face="Times New Roman" size=2><SUP>1</SUP></FONT></B></P></TD>
    <TD width="98%">
      <P align=left><FONT face="Times New Roman" size=2>Performance less than
      threshold results in no payout.
</FONT></P></TD></TR></TABLE><BR>
<P align=left><FONT face="Times New Roman" size=2>The amount of each of the
named executive officers&#146; actual incentive award under the 2014 ZIP depended
upon the level of attainment of the adjusted operating income and ROIC financial
performance goals and attainment of individual performance goals. For Messrs.
Gustafsson, Gagnier, Heel, Smiley and Terzich, the incentive award amounts are
calculated based on 2014 adjusted operating income performance of 118.0% of
target, which resulted in a payout percentage of 200% of each named executive
officer&#146;s target incentive. Our 2014 ROIC performance of 18.2% met the
performance target range and therefore did not result in any change in the
incentive amount. Mr. Gustafsson then assessed the individual performance of
each executive officer, which included weighting strategic priorities and
applying a discretionary modifier (either up or down not exceeding 5%) to
determine the recommended incentive award for each executive officer. Because
the maximum payout percentage was achieved under the 2014 ZIP, and given the
significantly increased workloads in 2014 arising from the acquisition of the
Enterprise business, Mr. Gustafsson recommended that each executive officer&#146;s
incentive amount be paid out at 200% of target. The Compensation Committee then
reviewed and approved the actual incentive award payouts. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The amount of the two
executive officers&#146; actual incentive award under the 2014 EIP depended upon the
level of attainment of the net sales financial performance goal for the fourth
quarter of 2014, which included the period commencing when Zebra acquired the
Enterprise business on October 27, 2014. The incentive award amounts are
calculated based on 2014 fourth quarter net sales of 108.4% of target, which
resulted in a payout percentage of 140% of these two executive officer&#146;s target
incentive. Because the maximum payout percentage was achieved under the 2014
EIP, Mr. Gustafsson recommended that each executive officer&#146;s incentive amount
be paid out at 140% of target. The Compensation Committee then reviewed and
approved the actual incentive award payouts. </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>2014 Long-Term Equity
Incentive Awards. </FONT></I></B><FONT face="Times New Roman" size=2>Each
executive officer has a target annual long-term equity award, which is
established by the Committee after receiving the recommendation of Mr.
Gustafsson. The Board establishes Mr. Gustafsson&#146;s target annual long-term
equity award after hearing the recommendation of the Compensation Committee. The
Committee believes it is important that all of our executive officers are
incented to create stockholder value over a long-term investment horizon. Zebra
shifted a few years ago from granting only stock options to granting time-vested
stock appreciation rights (&#147;SARs&#148;), time-vested restricted stock and
performance-vested restricted stock. Over the past few years we have adjusted
the allocation of awards among the equity vehicles to improve alignment with
Zebra&#146;s stockholders and better reflect current compensation practices in order
to attract, retain, motivate, develop and reward our employees.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Utilizing the market median
data information for the executive officers as a guide, Mr. Gustafsson
recommended to the Committee in March 2014 long-term equity incentive awards
with a specified value at grant date for each executive officer. With respect to
the total value at grant date of Mr. Gustafsson&#146;s equity awards in 2014, the
Committee consulted with Towers Watson and considered factors similar to those
considered when determining the values at grant date of equity awards for the
other executive officers. The Committee recommended to the Board, and the Board
approved, a 2014 equity award to Mr. Gustafsson having a total value at grant
date equal to the value at grant date of his 2013 award of $2,500,000. The
values at grant date of the 2014 awards were allocated 40% to performance-vested
restricted stock, 40% to time-vested restricted stock and 20% to time-vested
SARs for Mr. Gustafsson and the named executive officers. When calculating the
number of performance-vested restricted shares and time-vested restricted
shares, the actual number of shares is set by dividing the grant date fair value
by the </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>29 </FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>closing price of our common
stock on the grant date, without a reduction for the restricted nature of the
shares. For time-vested SARs, the actual number of SARs is set by dividing the
grant date fair value by the binomial value of a SAR.</FONT></P>
<P STYLE="text-align: center"><B><FONT face="Times New Roman" size=2>2014 Annual Equity Grants
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>In March 2014, the Committee
approved performance-vested restricted stock awards which constituted 40% of the
grant date fair value of the named executive officers&#146; target equity awards,
time-vested restricted stock awards which constituted 40% of the grant date fair
value of the named executive officers&#146; target equity awards, and time-vested
stock appreciation rights which constituted 20% of the grant date fair value of
the named executive officers&#146; target equity awards. In April 2014, Zebra entered
into an agreement to acquire the Enterprise business of Motorola Solutions, Inc.
Mr. Gustafsson then recommended, and the Committee agreed, that the time-vested
restricted stock awards and time-vested SARs would be granted in May as in prior
years. To align the interests of Zebra officers who were designated to be
granted performance-vested restricted stock awards and the interests of officers
of the Enterprise business, Mr. Gustafsson also recommended, and the Committee
agreed, to postpone the grant of the performance-vested restricted stock awards
until after the completion of the acquisition. We completed the acquisition in
October 2014 and granted the performance-vested restricted stock awards in
November 2014. Two executive officers who joined Zebra in 2014 prior to
completing the acquisition were granted time-vested restricted stock and
time-vested SARs upon commencing employment and were granted performance-vested
restricted stock awards in November 2014. The two executive officers who joined
Zebra upon the completion of the acquisition were granted time-vested restricted
stock awards and performance-vested restricted stock awards in November 2014 to
replace equity awards granted by Motorola Solutions that were forfeited as of
the closing of the acquisition. </FONT></P>
<DIV align=center>
<TABLE style="padding-left: 4pt; padding-right: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="98%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="44%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="12%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Target Number of</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="16%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Number of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="44%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="12%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Performance-</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="16%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Time
      Vested-</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Number of</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="44%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="12%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Vested
      Restricted</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="16%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Restricted</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Time-Vested</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="44%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Named
      executive</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Grant
    Date</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="12%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Shares
      Granted</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="16%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Shares
      Granted</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>SARs</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="44%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>officer</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Fair Value</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="12%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>2014</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="16%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>2014</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Granted 2014</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>Anders Gustafsson</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>$2,414,685</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="12%"><FONT face="Times New Roman" size=2>13,384</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="16%"><FONT face="Times New Roman" size=2>13,384</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>19,493</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>Hugh
      K. Gagnier</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>$676,182</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="12%"><FONT face="Times New Roman" size=2>3,748</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="16%"><FONT face="Times New Roman" size=2>3,748</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>5,458</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>Joachim Heel</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>$657,336</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="12%"><FONT face="Times New Roman" size=2>5,987</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="16%"><FONT face="Times New Roman" size=2>5,987</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>8,572</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>Michael C. Smiley</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>$724,378</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="12%"><FONT face="Times New Roman" size=2>4,015</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="16%"><FONT face="Times New Roman" size=2>4,015</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>5,848</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="44%"><FONT face="Times New Roman" size=2>Michael H. Terzich</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>$694,141</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="12%"><FONT face="Times New Roman" size=2>4,662</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="16%"><FONT face="Times New Roman" size=2>3,293</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>4,796</FONT></TD></TR></TABLE></DIV><BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P STYLE="text-align: left"><FONT face="Times New Roman" size=2></FONT><I><FONT face="Times New Roman" size=2>Performance-Vested Restricted Stock.
      </FONT></I><FONT face="Times New Roman" size=2>The performance-vested
      restricted stock awards granted in </FONT><FONT face="Times New Roman" size=2>November 2014 have a two-year performance period ending on December
      31, 2016, and a payout based on achieving target levels of (1) net sales
      (weighted 60%) in 2015 and 2016 and (2) adjusted earnings before interest,
      taxes, depreciation and amortization (&#147;EBITDA&#148;) margin (weighted 40%) in
      2015 and 2016. A separate calculation of actual achievement is made for
      each performance goal. Achievement of the 2015 net sales performance
      target would result in the &#147;banking&#148; of 30% of the target number of shares
      under an award; achievement of the 2015 adjusted EBITDA margin performance
      target would result in the &#147;banking&#148; of 20% of the target number of shares
      under an award. After the two-year performance period, the number of
      shares of restricted stock that are eligible to vest on May 15, 2017, will
      be the greater of either the total number of banked shares or the number
      of shares earned based upon the achievement of the 2016 net sales
      performance target and the 2016 adjusted EBITDA margin performance target
      as set forth in the table below:</FONT></P></TD></TR></TABLE><BR>
<DIV align=center>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" ALIGN="CENTER" STYLE="padding-left: 4pt; padding-right: 4pt; line-height: 14pt; border-collapse: collapse; width: 80%">

  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-top: #000000 1pt solid; border-left: #000000 1pt solid; text-align: left; width: 50%; background-color: #c0c0c0"></TD>
    <TD NOWRAP STYLE="border-top: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center; width: 15%; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Performance</FONT></B></TD>
    <TD NOWRAP STYLE="border-top: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center; width: 17%; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Performance</FONT></B></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-left: #000000 1pt solid; border-top: #000000 1pt solid; text-align: center; width: 18%; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Performance</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Performance Goals</FONT></B></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Threshold</FONT></B><FONT face="Times New Roman" size=2><SUP>1</SUP></FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Target</FONT></B></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Maximum</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; text-align: left"></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>30% of target</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>60% of target</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>108%
      of target</FONT></TD></TR>
  <TR vAlign=bottom >
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>Net
      Sales in 2016</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>shares vest</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>shares vest</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>shares vest</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; text-align: left"></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>20% of target</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>40% of target</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>72%
      of target</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>Adjusted EBITDA Margin in 2016</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>shares vest</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>shares vest</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>shares vest</FONT></TD></TR></TABLE><BR>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD vAlign=top width="1%" ><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top width="1%">
      <P align=left><FONT face="Times New Roman" size=2><SUP>1</SUP>
    </FONT></P></TD>
    <TD vAlign=top width="98%">
      <P align=left><FONT face="Times New Roman" size=2>Performance in 2016 in
      between the stated performance levels is interpolated on a straight line
      basis.</FONT></P></TD></TR></TABLE></DIV><BR>
<P align=center><FONT face="Times New Roman" size=2>30 </FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P ALIGN="LEFT" STYLE="padding-left: 30pt"><FONT face="Times New Roman" size=2>The net sales performance
targets for 2015 and 2016 (i.e., performance targets) were set based upon
management&#146;s net sales and adjusted EBITDA margin forecasts for each year when
analyzing the combination of Zebra with the Enterprise business of Motorola
Solutions. The 2016 net sales performance threshold is 3% below the 2016 net
sales performance target; the 2016 net sales performance maximum is 3% above the
2016 net sales performance target. The 2016 adjusted EBITDA margin performance
threshold is two percentage points below the 2016 adjusted EBITDA margin
performance target; the 2016 adjusted EBITDA margin performance maximum is two
percentage points above the 2016 adjusted EBITDA margin performance target.
</FONT><B><FONT face="Times New Roman" size=2></FONT></B></P>
<P ALIGN="LEFT" STYLE="padding-left: 30pt"><FONT face="Times New Roman" size=2>The number of shares of
performance-vested restricted stock that could vest for each of the named
executive officers is as follows.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>2014 Performance-Vested
Restricted Shares Granted </FONT></B></P>
<DIV align=center>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%" bgColor=#ffffff>&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="42%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Fail to
      Meet</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Attain</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=left width="14%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=left width="14%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="42%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Threshold</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Threshold</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=left width="14%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Attain
      Maximum</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#ffffff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="1%" bgColor=#ffffff></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="42%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Named
      executive</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Sales
    CAGR</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Sales
    CAGR</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Attain Target
      Sales</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Sales CAGR
      and</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#ffffff>&nbsp;&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="1%" bgColor=#ffffff></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="42%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>officers</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>and
ROIC</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>and
ROIC</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>CAGR and
      ROIC</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>ROIC</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#ffffff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="42%"><FONT face="Times New Roman" size=2>Anders Gustafsson</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>6,692</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>13,384</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>24,091</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="42%"><FONT face="Times New Roman" size=2>Hugh
      K. Gagnier</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>1,874</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>3,748</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>6,746</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="42%"><FONT face="Times New Roman" size=2>Joachim Heel</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>2,994</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>5,987</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>10,777</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="42%"><FONT face="Times New Roman" size=2>Michael C. Smiley</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>2,008</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>4,015</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>7,227</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="42%"><FONT face="Times New Roman" size=2>Michael H. Terzich</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>2,331</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>4,662</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><FONT face="Times New Roman" size=2>8,392</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR></TABLE></DIV><BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: left"><EM>Three-Year Vesting Period for Time-Vested
      Restricted Stock: </EM><FONT face="Times New Roman" size=2>To provide a significant long-term
      perspective and retention incentive, the Committee determined that the
      time-vested restricted stock awards for executive officers, including Mr.
      Gustafsson, would vest 100% on May 8, 2017 (for Mr. Heel, September 15,
      2017), the third anniversary of the grant date.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top width="98%">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: left"><EM>Base Price and Vesting Period of
      Time-Vested SARs: </EM><FONT face="Times New Roman" size=2>The actual base (or exercise)
      price of the SARs was set using the closing price of our common stock on
      the May 8, 2014 (for Mr. Heel, September 15, 2014). Consistent with recent
      annual equity grant award terms, the Committee determined that the SAR
      awards for executive officers, including Mr. Gustafsson, would vest 25% on
      the first four anniversaries of the grant date, or each May 8 beginning
      2015, and would expire on May 8, 2024 (for Mr. Heel, on each September 15
      beginning 2015, and would expire on September 15,
  2014).</FONT></TD></TR></TABLE><BR>
<P STYLE="text-align: center"><B><FONT face="Times New Roman" size=2>Restricted Stock that
Vested in 2014 </FONT></B></P>
<P align=left><I><FONT face="Times New Roman" size=2>Performance-Vested
Restricted Stock: </FONT></I><FONT face="Times New Roman" size=2>On May 5, 2011,
Zebra granted the named executive officers performance-vested restricted stock
with a three-year performance period ending December 31, 2013. The 2011
performance-vested restricted stock awards vested on May 5, 2014, at 62% of
target. The grants had a performance target of 7.5% compounded annual growth
rate of total net sales (&#147;CAGR&#148;) in 2013 over 2010 total net sales of $894,359.
The total net sales CAGR threshold (i.e., minimum) for the three-year
performance period was 5.0%, and the total net sales CAGR maximum was 10.0%.
Total net sales for 2013 were $1,038,159, resulting in a total net sales CAGR of
5.1% for the three-year period, which exceeded the threshold performance target.
As a result of exceeding the threshold total net sales CAGR but failing to meet
the target total net sales CAGR, the target number of shares granted in 2011 was
decreased by 48%. In addition, the maximum return on invested capital (&#147;ROIC&#148;)
modifier (i.e., 14.0%) for the three-year performance period was exceeded (i.e.,
three-year average was 28.8%), resulting in a 20% increase in the number of
shares vested pursuant to the total net sales CAGR performance goal (i.e., 62%
of target shares vested). Although share price was not a performance goal under
the grants, during the three-year period from the May 5, 2011 grant date until
the vesting date on May 5, 2014, the stock price rose from $41.57 per share to
$72.20 per share.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>31</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Set forth below is the number
of shares of performance-vested restricted stock that vested for each named
executive officer, including the value of the shares on the vesting
date.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>Performance-Vested
Restricted Stock </FONT></B></P>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="19%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="20%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Grant Date
      Fair</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="19%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="20%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="19%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="19%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="20%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Value of Award
      at</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="19%" bgColor=#c0c0c0><STRONG><FONT size=2 face="Times New Roman">Target
      Number</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="20%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="19%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="19%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Named executive</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="20%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Time of Grant
      in</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="19%" bgColor=#c0c0c0><STRONG><FONT size=2 face="Times New Roman">of
      Shares</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="20%" bgColor=#c0c0c0><STRONG><FONT size=2 face="Times New Roman">Number of
      Shares</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="19%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Value of
      Shares</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>officer</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>2011</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%" bgColor=#c0c0c0><STRONG><FONT size=2 face="Times New Roman">Granted in 2011</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%" bgColor=#c0c0c0><STRONG><FONT size=2 face="Times New Roman">Vested in 2014</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Vested in
      2014</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=2>Anders Gustafsson</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>$833,271</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>20,045</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>12,428</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>$897,302</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=2>Hugh
      K. Gagnier</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>$191,430</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>4,605</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>2,856</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>$206,203</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=2>Joachim Heel</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=2>Michael C. Smiley</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>$191,430</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>4,605</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>2,856</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>$206,203</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=2>Michael H. Terzich</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>$176,839</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>4,254</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><FONT face="Times New Roman" size=2>2,638</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="19%"><FONT face="Times New Roman" size=2>$190,464</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD></TR></TABLE><BR>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Time-Vested Restricted
Stock: </FONT></I><FONT face="Times New Roman" size=2>In May 2011, Zebra granted
the named executive officers time-vested restricted stock with three-year cliff
vesting in May 2014. In addition, in May 2010, the Board approved the grant to
Mr. Gustafsson of an award of time-vested restricted stock as to which 25% of
the 2010 award (i.e., 11,233 shares) vested in May 2014. During the three-year
period from the May 5, 2011 grant date until the vesting date on May 5, 2014,
the stock price rose from $41.57 per share to $72.20 per share. During the
four-year period from the May 6, 2010 grant date to Mr. Gustafsson until the
vesting date on May 6, 2014, the stock price rose from $27.82 per share to
$73.98 per share. Set forth below is the number of shares of time-vested
restricted stock that vested for each named executive officer, including the
value of the shares on the vesting date.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>Time-Vested Restricted
Stock </FONT></B></P>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="24%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="25%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Grant Date
      Fair</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="25%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="24%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="24%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Named executive</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="25%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Value of Award
      at</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="25%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Number of
      Shares</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="24%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Value of
      Shares</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="24%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>officers</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Time of
      Grant</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Vested</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="24%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Vested</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="24%"><FONT face="Times New Roman" size=2>Anders Gustafsson</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%"><FONT face="Times New Roman" size=2>$312,502</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%"><FONT face="Times New Roman" size=2>11,233</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="24%"><FONT face="Times New Roman" size=2>$831,017</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="24%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%"><FONT face="Times New Roman" size=2>$833,271</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%"><FONT face="Times New Roman" size=2>20,045</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="24%"><FONT face="Times New Roman" size=2>$1,447,249</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="24%"><FONT face="Times New Roman" size=2>Hugh
      K. Gagnier</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%"><FONT face="Times New Roman" size=2>$191,430</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%"><FONT face="Times New Roman" size=2>4,605</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="24%"><FONT face="Times New Roman" size=2>$332,481</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="24%"><FONT face="Times New Roman" size=2>Joachim Heel</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%"><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%"><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="24%"><FONT face="Times New Roman" size=2>N/A</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="24%"><FONT face="Times New Roman" size=2>Michael C. Smiley</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%"><FONT face="Times New Roman" size=2>$191,430</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%"><FONT face="Times New Roman" size=2>4,605</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="24%"><FONT face="Times New Roman" size=2>$332,481</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="24%"><FONT face="Times New Roman" size=2>Michael H. Terzich</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%"><FONT face="Times New Roman" size=2>$176,839</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="25%"><FONT face="Times New Roman" size=2>4,254</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="24%"><FONT face="Times New Roman" size=2>$307,139</FONT></TD></TR></TABLE><BR>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Employee Benefits
Component: </FONT></I></B><B><FONT face="Times New Roman" size=2></FONT></B><FONT face="Times New Roman" size=2>Our executive officers are
also eligible to participate in various benefit programs offered generally to
Zebra&#146;s U.S. salaried employees, such as our health plans and group disability
and life insurance plans. We provide a 401(k) plan to eligible employees with a
company match, and also provide a non-qualified deferred compensation plan for
highly compensated employees in which Zebra does not provide for company
contributions. We generally do not provide other long-term compensation plans,
supplemental executive retirement plans or a defined benefit pension plan. We
have not historically provided any perquisites.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Zebra also provides a
supplemental executive disability policy for executives to replace the
difference between what the group disability policy provides and the 60%
earnings replacement cap under the group policy. Zebra pays for the supplemental
executive disability coverage and the covered executive is taxed on this
benefit, which amount is then reimbursed to the executive.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Our Executive Officer
Employment Agreements <BR></FONT></I></B><FONT face="Times New Roman" size=2>Each executive officer has an employment agreement, addressing matters
such as compensation (including base salary, annual cash incentive awards,
long-term equity awards and employee benefit), termination of employment,
non-competition and/or non-solicitation provisions. We believe that providing an
employment agreement facilitates the attraction of high performing and high
potential executive officers by providing them a minimum level of total
compensation. We also believe the employment agreements provide a minimum level
of assurance in the event of a </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>32 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>termination of employment in
connection with a change in control, for good reason by the executive officer,
or by Zebra without cause, as defined in each executive officer&#146;s employment
agreement and summarized under Executive Compensation &#150; Employment Agreements.
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The various components of
total compensation as reflected within the employment agreements are reviewed on
an annual basis by the Committee as described within this Compensation
Discussion and Analysis. All other provisions of the employment agreements are
established at the onset of the employee being appointed as an executive officer
and are reviewed and updated on an as needed basis.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Specific to the non-compete
and/or non-solicitation provisions, we believe these provisions align with our
desire to protect the company and the stockholders from negative actions that
could be caused by an executive officer who joins a competitor and engages in
activities that could result in competitive harm to Zebra or our
customers.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We believe that the severance
amounts as reflected under Potential Payments upon Termination of Employment are
fair and reasonable in order to allow the executive officer to transition from
Zebra with minimal disruption to our overall business and, in the event of a
change in control, to help secure the continued employment and dedication of our
executive officers, notwithstanding any concern they may have regarding their
own employment.</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Tax Effects
<BR></FONT></I></B><I><FONT face="Times New Roman" size=2>Compliance with
Section 162(m). </FONT></I><FONT face="Times New Roman" size=2>Section 162(m) of
the Internal Revenue Code provides that compensation paid to named executive
officers (other than our chief financial officer) in excess of $1,000,000 cannot
be deducted for federal income tax purposes unless such compensation is
performance-based, is established by an independent committee of directors, is
objective and the plan or agreement providing for such performance-based
compensation has been approved in advance by our stockholders. The Committee
structures compensation to take advantage of the performance-based compensation
exemption under Section 162(m) to the extent practicable, while satisfying
Zebra&#146;s compensation policies and objectives. If in the judgment of our
Committee the benefits to Zebra of a compensation program that does not satisfy
the conditions of Section 162(m) outweigh the costs to Zebra of the failure to
satisfy these conditions, the Committee may adopt such a program.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>33 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_009"></A>Executive Compensation
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The following table summarizes
the compensation earned during 2014, 2013 and 2012 by our Chief Executive
Officer, our Chief Financial Officer and our three other most highly compensated
executive officers as of December 31, 2014. We refer to these five executive
officers as the named executive officers. </FONT><B><FONT face="Times New Roman" size=2></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>SUMMARY COMPENSATION
TABLE </FONT></B></P>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Non-Equity</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive
      Plan</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>All
    Other</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="67%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Name
and</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Salary</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Stock</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Option/SAR</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Compensation</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Compensation</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="67%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Principal
      Position</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Year</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>($)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Bonus ($)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Awards ($)</FONT></B><B><FONT face="Times New Roman" size=1><SUP>(1)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Awards ($)<SUP>(1)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>($)<SUP>(2)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>($)<SUP>(3)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Total ($)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>Anders Gustafsson</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>838,904</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,978,021</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>436,664</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,677,808</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>26,887</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>4,958,284</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2013</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>800,000</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2,000,083</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>499,936</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>691,152</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>33,597</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>4,024,768</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="67%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>794,231</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,666,651</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>810,380</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>766,956</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>26,321</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>4,064,539</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>Hugh
      K. Gagnier</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>379,312</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>553,917</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>122,265</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>531,037</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>6,173</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,592,704</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice
      President,</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2013</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>373,500</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>540,033</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>134,993</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>209,743</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,451</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,259,719</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operations</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>370,565</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>416,682</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>202,592</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>225,712</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>5,403</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,220,954</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>Joachim Heel</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>133,151</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>877,503</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>210,957</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>199,726</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>17,188</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,438,525</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice
      President,</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>Global Sales</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>Michael C. Smiley</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>393,477</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>593,377</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>131,001</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>590,215</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>6,759</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,714,829</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2013</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>381,600</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>580,021</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>144,991</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>247,260</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>6,559</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,360,431</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="67%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>375,785</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>416,682</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>202,592</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>248,256</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>6,326</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,249,641</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>Michael H. Terzich</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>343,260</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>586,705</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>107,435</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>480,564</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>3,855</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,521,819</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice
      President,</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2013</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>338,000</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>480,049</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>119,996</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>189,808</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>3,855</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,131,708</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>Chief Administrative</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>335,308</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>383,323</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>186,381</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>204,240</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>2,472</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=2>1,111,724</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="67%"><FONT face="Times New Roman" size=1>Officer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD></TR></TABLE><DIV>____________________</DIV>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The amounts reflect
      the aggregate grant date fair value, computed in accordance with Financial
      Accounting Standards Codification Topic 718, Compensation &#150; Stock
      Compensation, of restricted stock and stock appreciation rights (&#147;SAR&#148;)
      granted in 2014, 2013 and 2012. The amounts included in this column
      include the grant date fair value of time-vested restricted stock and
      SARs, as well as performance-vested restricted stock, which is calculated
      based on the probable satisfaction of the performance conditions for such
      awards. If the highest level of performance is achieved for the
      performance-vested restricted stock granted in 2014, the grant date fair
      value of all stock awards would be as follows: Mr. Gustafsson &#150;
      $3,197,060; Mr. Gagnier $895,275; Mr. Heel &#150; $1,508,628; Mr. Smiley &#150;
      $959,079; and Mr. Terzich &#150; $966,663. Please see Note 18, &#147;Equity-Based
      Compensation,&#148; of Zebra&#146;s consolidated financial statements included in
      Zebra&#146;s Annual Report on Form 10-K for the year ended December 31, 2014,
      for a discussion of assumptions made in calculating the aggregate grant
      date fair value of these awards.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The amounts in this
      column reflect the annual incentive compensation earned under Zebra&#146;s
      annual incentive plan.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>All other
      compensation for 2014 consists of 401(k) matching contributions (Mr.
      Gustafsson &#150; $5,477; Mr. Gagnier &#150; $414; Mr. Heel &#150; $1,813; and Mr. Smiley
      &#150; $2,587); life insurance premiums (Mr. Gustafsson - $600; Mr. Gagnier -
      $600; Mr. Heel - $150; Mr. Smiley - $600; and Mr. Terzich - $600); a tax
      gross up in connection with income recognized for long-term disability
      premiums paid by Zebra (Mr. Gustafsson - $8,813; Mr. Gagnier - $5,159; Mr.
      Heel - $0; Mr. Smiley - $3,572; and Mr. Terzich - $3,255); Zebra paid
      executive long-term disability insurance premiums (Mr. Gustafsson &#150;
      $11,997); and relocation benefits (Mr. Heel &#150;
  $16,588).</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>34 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>GRANTS OF PLAN-BASED
AWARDS IN 2014</FONT></B><B><FONT face="Times New Roman" size=2><SUP>(1)</SUP></FONT></B><B><FONT face="Times New Roman" size=2>
</FONT></B></P>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; border-top: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="11%" bgColor=#c0c0c0 colSpan=3></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="11%" bgColor=#c0c0c0 colSpan=3></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>All Other</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Grant</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="11%" bgColor=#c0c0c0 colSpan=3></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="11%" bgColor=#c0c0c0 colSpan=3></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Stock</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>All
    Other</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Date
    Fair</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="11%" bgColor=#c0c0c0 colSpan=3></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="11%" bgColor=#c0c0c0 colSpan=3></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Awards:</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Options</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Exercise</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Value
  of</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="11%" bgColor=#c0c0c0 colSpan=3></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="11%" bgColor=#c0c0c0 colSpan=3></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Number</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Awards,</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>or Base</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Stock</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="11%" bgColor=#c0c0c0 colSpan=3><STRONG><FONT size=1 face="Times New Roman">Estimated
      Future Payouts Under</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="11%" bgColor=#c0c0c0 colSpan=3><STRONG><FONT size=1 face="Times New Roman">Estimated
      Future Payouts Under</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>of
    Shares</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Number
    of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Price
of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>and</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="11%" bgColor=#c0c0c0 colSpan=3><STRONG><FONT size=1 face="Times New Roman">Non-Equity Incentive Plan
      Awards<SUP>(2)</SUP></FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="11%" bgColor=#c0c0c0 colSpan=3><STRONG><FONT size=1 face="Times New Roman">Equity Incentive Plan
      Awards<SUP>(3)</SUP></FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Securities</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Option</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Option</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: center"><STRONG><FONT size=1 face="Times New Roman">Grant</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><STRONG><FONT size=1 face="Times New Roman">Threshold</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Target</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Maximum</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Threshold</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Target</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Maximum</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Stock</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Underlying</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Awards</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Awards</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="59%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Name</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=1>Date</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>($)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>($)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>($)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>(#)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>(#)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>(#)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>(#)<SUP>(4)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Options(#)<SUP>(5)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>($/Sh)<SUP>(6)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>($)<SUP>(7)</SUP></FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"><FONT face="Times New Roman" size=1>Anders</FONT></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>419,452</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>838,904</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>1,677,808</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"><FONT face="Times New Roman" size=1>Gustafsson</FONT></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>5/8/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>19,493</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>74.72</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>436,664</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%">&nbsp;</TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>5/8/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>13,384</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>1,000,052</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="59%"></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>11/6/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>6,692</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>13,384</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>24,091</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>977,969</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"><FONT face="Times New Roman" size=1>Hugh
      K.</FONT></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>132,760</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>265,519</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>531,037</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"><FONT face="Times New Roman" size=1>Gagnier</FONT></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>5/8/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>5,458</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>74.72</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>122,265</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>5/8/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>3,748</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>280,051</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="59%"></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>11/6/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>1,874</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>3,748</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>6,746</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>273,866</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"><FONT face="Times New Roman" size=1>Joachim</FONT></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>49,932</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>99,863</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>199,726</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"><FONT face="Times New Roman" size=1>Heel</FONT></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>9/15/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>8,572</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>73.50</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>210,957</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>9/15/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>5,987</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>440,033</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="59%"></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>11/6/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>2,994</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>5,987</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>10,777</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>437,470</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"><FONT face="Times New Roman" size=1>Michael C.</FONT></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>147,554</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>295,108</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>590,215</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"><FONT face="Times New Roman" size=1>Smiley</FONT></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>5/8/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>5,848</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>74.72</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>131,001</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>5/8/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>4,015</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>300,001</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="59%"></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>11/6/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>2,008</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>4,015</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>7,227</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>293,376</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"><FONT face="Times New Roman" size=1>Michael H.</FONT></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"><FONT face="Times New Roman" size=1>Terzich</FONT></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>120,141</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>240,282</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>480,564</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>5/8/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>4,796</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>74.72</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>107,435</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="59%"></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>5/8/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>3,293</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>246,053</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="59%"></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="4%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: left"><FONT face="Times New Roman" size=1>11/6/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>2,331</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>4,662</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>8,392</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=1>340,652</FONT></TD></TR></TABLE><DIV>____________________</DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>See &#147;Compensation
      Discussion and Analysis&#148; for additional discussion of Zebra&#146;s 2014 annual
      incentive plan and equity awards.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The amounts in this
      column represent potential earnings under the 2014 annual incentive plan.
      The threshold, target and maximum amounts are based on a percentage of
      incentive eligible compensation. The amount earned was subject to
      attaining levels of achievement of financial performance goals and, other
      than for the chief executive officer, individual performance goals as
      described in the &#147;Compensation Discussion and Analysis.&#148; If the threshold
      performance target is not met, the annual incentive award is $0. At
      threshold performance, 50% of the target incentive will be earned. At
      target performance, 100% of the target incentive will be earned. At
      maximum performance, 200% of the target incentive will be earned. As
      described in &#147;Compensation Discussion and Analysis,&#148; return on invested
      capital (&#147;ROIC&#148;) acted as a modifier of the amount earned under the
      performance goals; however, pursuant to the terms of the plan, the ROIC
      modifier cannot increase the financial performance component of the
      incentive award beyond a maximum 200% award payment for the financial
      performance component. The actual amounts earned in respect of 2014 are
      reported in the summary compensation table.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The target column
      represents the number of shares of performance-vested restricted stock
      granted on November 6, 2014. These awards would vest on May 15, 2017, have
      a two-year performance period ending on December 31, 2016, and a payout
      based on achieving target levels of (1) net sales (weighted 60%) in 2015
      and 2016 and (2) adjusted earnings before interest, taxes, depreciation
      and amortization (&#147;EBITDA&#148;) margin (weighted 40%) in 2015 and 2016. A
      separate calculation of actual achievement is made for each performance
      goal. Achievement of the 2015 net sales performance target would result in
      the &#147;banking&#148; of 30% of the target number of shares under an award;
      achievement of the 2015 adjusted EBITDA margin performance target would
      result in the &#147;banking&#148; of 20% of the target number of shares under an
      award. After the two-year performance period, the number of shares of
      restricted stock that are eligible to vest on May 15, 2017, will be the
      greater of either the total number of banked shares or the number of
      shares earned based upon the achievement of the 2016 net sales performance
      target and the 2016 adjusted EBITDA margin performance target as set forth
      in the table below:</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>35</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<DIV align=center>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" ALIGN="CENTER" STYLE="line-height: 14pt; border-collapse: collapse; width: 80%">

  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-left: #000000 1pt solid; border-top: #000000 1pt solid; text-align: left; width: 45%; background-color: #c0c0c0"></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-top: #000000 1pt solid; text-align: center; width: 18%; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Performance</FONT></B></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-top: #000000 1pt solid; text-align: center; width: 18%; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Performance</FONT></B></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-top: #000000 1pt solid; text-align: center; width: 18%; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Performance</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Performance
      Goals</FONT></B></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Threshold</FONT></B></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Target</FONT></B></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=2>Maximum</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-left: #000000 1pt solid; text-align: left"></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>30% of target</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>60% of target</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>108% of target</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>Net
      Sales in 2016</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>shares vest</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>shares vest</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>shares vest</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-left: #000000 1pt solid; text-align: left"></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>20% of target</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>40% of target</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>72% of target</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>Adjusted EBITDA Margin in 2016</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>shares vest</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>shares vest</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>shares vest</FONT></TD></TR></TABLE></DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Performance in 2016
      in between the stated performance levels is interpolated on a straight
      line basis. The net sales performance targets for 2015 and 2016 (i.e.,
      performance targets) were set based upon management&#146;s net sales and
      adjusted EBITDA margin forecasts for each year when analyzing the
      combination of Zebra with the Enterprise business of Motorola Solutions.
      The 2016 net sales performance threshold is 3% below the 2016 net sales
      performance target; the 2016 net sales performance maximum is 3% above the
      2016 net sales performance target. The 2016 adjusted EBITDA margin
      performance threshold is two percentage points below the 2016 adjusted
      EBITDA margin performance target; the 2016 adjusted EBITDA margin
      performance maximum is two percentage points above the 2016 adjusted
      EBITDA margin performance target. If the performance thresholds are not
      achieved, 0% of the shares vest. The threshold column represents the
      number of shares that would vest if both performance thresholds are
      attained. The maximum column represents the number of shares that would
      vest if both performance maxima are attained. Except for Mr. Gustafsson,
      if an executive officer&#146;s employment is terminated by reason of death or
      disability prior to December 31, 2016, the vesting of these awards will
      accelerate at the target number of shares. Except for Mr. Gustafsson, if
      an executive officer&#146;s employment is terminated by reason of death or
      disability on or after December 31, 2016, but before May 15, 2017, or by
      the officer by reason of retirement or by Zebra other than for cause at
      any time during the performance period, the vesting of these awards will
      be determined in accordance with the performance-based vesting goals, with
      pro rata vesting in the case of retirement or termination by Zebra other
      than for cause. If an executive officer&#146;s employment is terminated for any
      reason other than death, disability, by the officer by reason of
      retirement or by Zebra other than for cause, the shares of restricted
      stock will be forfeited. Mr. Gustafsson&#146;s employment is terminated by
      reason of death, disability, by Mr. Gustafsson for good reason or by Zebra
      other than for cause, the number of vested shares will be the target
      number of shares prorated based on days elapsed from November 6, 2014, to
      the date of termination of employment (unless otherwise determined by the
      Board or the Compensation Committee). If Mr. Gustafsson&#146;s employment is
      terminated for any reason other than death, disability, by Mr. Gustafsson
      for good reason or by Zebra other than for cause, the shares of restricted
      stock will be forfeited. For performance-vested restricted stock awards,
      if a change in control involves stockholders receiving consideration
      consisting of publicly traded common stock, and if the restricted stock
      agreement is assumed or a provision is made for the continuation of the
      restricted stock agreement, then there will be a substitution of the
      common stock into which Zebra common stock is converted in the change in
      control and the target number of shares of restricted stock will vest. If
      a change in control does not involve stockholders receiving publicly
      traded common stock, then there will be a cash payment to the holder
      representing the value of the target number of shares of restricted stock.
      The definitions of change in control, good reason and cause are summarized
      under &#147;Employment Agreements&#148; below.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Represents shares of
      time-vested restricted stock granted on May 8, 2014 (for Mr. Heel,
      September 15, 2014). These awards vest 100% on May 8, 2017 (for Mr. Heel,
      September 15, 2017). Dividends are not paid on our common stock. The
      vesting of these awards will be accelerated in full upon a termination of
      employment by reason of death or disability, and accelerated pro rata upon
      a termination by reason of retirement, resignation for good reason, or
      termination by Zebra without cause, except that for Mr. Gustafsson the
      number of vested shares would be prorated based on days elapsed from the
      grant date to the date of termination of employment (unless otherwise
      determined by the Board or the Compensation Committee). For all executive
      officers, (1) if a change in control involves stockholders receiving
      consideration consisting of publicly traded common stock, and if the
      restricted stock award agreement is assumed or a provision is made for the
      continuation of the agreement, then there will be a substitution of the
      common stock into which Zebra common stock is converted in the change in
      control and the restricted stock award agreement will continue in
      accordance with its terms and (2) if a change in control does not involve
      stockholders receiving publicly traded common stock, then there will be a
      cash payment to the holder representing the value of the shares of
      restricted stock.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(5)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Represents the number
      of shares underlying SAR awards granted on May 8, 2014 (for Mr. Heel,
      September 15, 2014). SARs become exercisable in 25% increments on each of
      the first four anniversaries of the grant date and expire on the tenth
      anniversary of the grant date. For all awards held by executive officers
      other than Mr. Gustafsson, (i) upon termination of employment by reason of
      death or disability, the unvested portion will vest in full and the SAR
      will remain exercisable until the earlier of the expiration date or one
      year after the termination of employment; (ii) upon retirement, any
      unexercised vested portion will remain exercisable until the earlier of
      the expiration date or one year after retirement; (iii) upon termination
      for cause, the SAR will be forfeited; and (iv) upon termination for any
      other reason, any unexercised vested portion will remain exercisable until
      the earlier of the expiration date or (a) 90 days after termination if
      terminated by Zebra and (b) 30 days after termination if termination is
      voluntary. For Mr. Gustafsson, upon termination of employment (i) by
      reason of his death, disability, resignation for good reason, or
      termination by Zebra without cause, the SAR will vest pro rata based on
      the number of days from the grant date through and including the date of
      termination of employment, giving credit for any SARs vested prior to
      termination of employment, and the SAR will remain exercisable until the
      earlier of the</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>36 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>expiration date or
      one year after his termination of employment due to death or disability or
      90 days after his termination of employment by reason of resignation for
      good reason or termination by Zebra without cause; (ii) upon retirement,
      any unexercised vested portion will remain exercisable until the earlier
      of the expiration date or one year after retirement; (iii) upon
      termination for cause, the SAR will be forfeited; and (iv) upon
      termination for any other reason, any unexercised vested portion will
      remain exercisable until the earlier of the expiration date or 30 days
      after his termination of employment. For all executive officers, (1) if a
      change in control involves stockholders receiving consideration consisting
      of publicly traded common stock, and if the SAR agreement is assumed or a
      provision is made for the continuation of the SAR agreement, then there
      will be a substitution of the common stock into which Zebra common stock
      is converted in the change in control and the SAR will continue in
      accordance with its terms and (2) if a change in control does not involve
      stockholders receiving publicly traded common stock, then there will be a
      cash payment to the holder representing the difference between the value
      of a share on the date of the transaction over the base price of the
      SAR.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(6)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The base price equals
      the closing market price of our common stock on the date of
    grant.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(7)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The amounts included
      in this column were determined in accordance with Financial Accounting
      Standards Codification Topic 718, Compensation &#150; Stock Compensation and,
      in the case of performance-vested restricted stock awards, are calculated
      based on the probable satisfaction of the performance conditions. Please
      see Note 18, &#147;Equity-Based Compensation,&#148; of Zebra&#146;s consolidated
      financial statements included in Zebra&#146;s Annual Report on Form 10-K for
      the year ended December 31, 2014, for a discussion of assumptions made in
      calculating the aggregate grant date fair value of these
  awards.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>37 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="99%" bgColor=#c0c0c0 colSpan=10><B><FONT face="Times New Roman" size=2>OUTSTANDING EQUITY AWARDS AT 2014
      FISCAL YEAR-END</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="26%" bgColor=#c0c0c0 colSpan=5><B><FONT face="Times New Roman" size=2>Option/SAR
      Awards</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="17%" bgColor=#c0c0c0 colSpan=4><B><FONT face="Times New Roman" size=2>Stock
      Awards</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Equity</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Plan</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Awards:</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Equity</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Equity</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Market
    or</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive
      Plan</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Payout</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Plan</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Awards:</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Value
  of</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Awards:</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Number
    of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Unearned</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Number
    of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Number
    of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Number
    of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Unearned</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Shares,</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Securities</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Securities</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Securities</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Number
    of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Shares,
      Units</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Units
  or</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Underlying</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Underlying</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Underlying</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Shares
    or</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Market Value
      of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>or
Other</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Other</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Unexercised</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Unexercised</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Unexercised</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Option</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Units of
      Stock</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Shares or
      Units</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Rights
    That</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Rights
    That</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Options/SARs</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Options/SARs</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Unearned</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Exercise</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Option</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>That
    Have</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>of Stock
      That</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Have
Not</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Have
  Not</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>(#)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>(#)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Options</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Price</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Expiration</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Not
    Vested</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Have Not
      Vested</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Vested</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Vested</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="56%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Name</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Exercisable</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Unexercisable</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>(#)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>($)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Date</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>(#)<SUP>(1)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>($)<SUP>(2)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>(#)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>($)<SUP>(2)</SUP></FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><B><FONT face="Times New Roman" size=1>Anders Gustafsson </FONT></B><B><FONT face="Times New Roman" size=1><SUP>(3)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>4/24/2008</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>90,000</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>36.49</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>4/24/2018</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/7/2009</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>40,000</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>19.56</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>5/7/2019</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/6/2010</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>60,149</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>60,150</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>27.82</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>5/6/2020</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/6/2010</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"><FONT face="Times New Roman" size=1>22,466</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>1,739,093</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/5/2011</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>40,863</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>13,621</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>41.57</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>5/5/2021</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>4/30/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>31,144</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>31,145</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>38.79</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>4/30/2022</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>4/30/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"><FONT face="Times New Roman" size=1>21,483</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>1,662,999</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>4/30/2012
    <STRONG><SUP>(4)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>38,670</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>2,993,448</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/3/2013</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>9,050</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>27,151</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>46.07</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>5/3/2023</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/3/2013</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"><FONT face="Times New Roman" size=1>21,707</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>1,680,339</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/3/2013
    <STRONG><SUP>(5)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>32,561</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>2,520,508</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/8/2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>19,493</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>74.72</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>5/8/2024</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/8/2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"><FONT face="Times New Roman" size=1>13,384</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>1,036,055</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>11/6/2014<STRONG><SUP>(6)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>13,384</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>1,036,055</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><B><FONT face="Times New Roman" size=1>Hugh K. Gagnier </FONT></B><B><FONT face="Times New Roman" size=1><SUP>(7)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>4/24/2008</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>6,658</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>36.49</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>4/24/2018</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/5/2011</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>1,558</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>3,129</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>41.57</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>5/5/2021</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>4/30/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>7,786</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>7,786</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>38.79</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>4/30/2022</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>4/30/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"><FONT face="Times New Roman" size=1>5,371</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>415,769</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>4/30/2012
    <STRONG><SUP>(4)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>9,668</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>748,400</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/3/2013</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>2,443</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>7,332</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>46.07</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>5/3/2023</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/3/2013</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"><FONT face="Times New Roman" size=1>5,861</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>453,700</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/3/2013
    <STRONG><SUP>(5)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>8,792</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>680,550</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/8/2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>5,458</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>74.72</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>5/8/2024</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>5/8/2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"><FONT face="Times New Roman" size=1>3,748</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>290,133</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>11/6/2014<STRONG><SUP>(6)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>3,748</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>290,133</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><B><FONT face="Times New Roman" size=1>Joachim Heel<SUP>(8)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>9/15/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>8,572</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"><FONT face="Times New Roman" size=1>73.50</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>9/15/2024</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>9/15/14</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="1%"><FONT face="Times New Roman" size=1>5,987</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>463,454</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="56%"><FONT face="Times New Roman" size=1>11/6/2014<STRONG><SUP>(6)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"><FONT face="Times New Roman" size=1>5,987</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><FONT face="Times New Roman" size=1>463,454</FONT></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>38</FONT><FONT face="Times New Roman" size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; padding-left: 4pt; padding-right: 4pt" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><B><FONT face="Times New Roman" size=1>Michael C. Smiley </FONT></B><B><FONT face="Times New Roman" size=1><SUP>(9)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/1/2008</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>11,700</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>37.67</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5/1/2018</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/7/2009</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>29,122</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>19.56</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5/7/2019</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/6/2010</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>15,100</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>27.82</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5/6/2020</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/5/2011</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>9,387</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>3,129</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>41.57</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5/5/2021</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>4/30/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>7,786</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>7,786</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>38.79</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4/30/2022</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>4/30/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5,371</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>415,769</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>4/30/2012 <STRONG><SUP>(4)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>9,668</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"><FONT face="Times New Roman" size=1>748,400</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/3/2013</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>2,624</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>7,875</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>46.07</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5/3/2023</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/3/2013</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>6,295</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>487,296</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/3/2013
      <STRONG><SUP>(5)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>9,443</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"><FONT face="Times New Roman" size=1>730,944</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/8/2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5,848</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>74.72</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5/8/2024</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/8/2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4,015</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>310,801</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>11/6/2014<STRONG><SUP>(6)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4,015</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="9%"><FONT face="Times New Roman" size=1>310,801</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><B><FONT face="Times New Roman" size=1>Michael H. Terzich</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><B><FONT face="Times New Roman" size=1>(10)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>2/6/2006</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5,767</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>43.35</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>2/6/2016</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>4/25/2007</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>10,667</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>41.25</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4/25/2017</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/5/2011</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>8,672</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>2,891</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>41.57</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5/5/2021</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>4/30/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>7,163</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>7,163</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>38.79</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4/30/2022</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>4/30/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4,941</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>382,483</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>4/30/2012 <STRONG><SUP>(4)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>8,894</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"><FONT face="Times New Roman" size=1>688,485</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/3/2013</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>2,172</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>6,517</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>46.07</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5/3/2023</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/3/2013</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5,210</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>403,306</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/3/2013
      <STRONG><SUP>(5)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>7,815</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"><FONT face="Times New Roman" size=1>604,959</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/8/2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4,796</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" >&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>74.72</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>5/8/2024</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>5/8/2014</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>3,293</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>254,911</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="9%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="10%"><FONT face="Times New Roman" size=1>11/6/2014<STRONG><SUP>(6)</SUP></STRONG></FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" ></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=1>4,662</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="9%"><FONT face="Times New Roman" size=1>360,885</FONT></TD></TR></TABLE><DIV>____________________</DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD style="TEXT-ALIGN: left" width="100%"><FONT face="Times New Roman" size=2>These restricted stock awards vest three years after the grant
      date, except that the May 6, 2010, grant to Mr. Gustafsson vests as to and
      22,466 shares on May 6, 2015.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD style="TEXT-ALIGN: left" width="100%"><FONT face="Times New Roman" size=2>The market value is based on the $77.41 closing price of our common
      stock on The NASDAQ Stock Market on December 31, 2014.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD style="TEXT-ALIGN: left" width="100%"><FONT face="Times New Roman" size=2>The stock appreciation right (&#147;SAR&#148;) granted on May 6, 2010, will
      vest with respect to 60,150 rights on May 6, 2015; the SAR granted on May
      5, 2011, will vest with respect to 13,621 rights on May 5, 2015; the SAR
      granted on April 30, 2012, will vest with respect to 15,572 rights on
      April 30, 2015, and 15,573 rights on April 30, 2016; the SAR granted on
      May 3, 2013 will vest with respect to 9,050 rights on each of May 3, 2015
      and 2016, and 9,051 rights on May 3, 2017; and the SAR granted on May 8,
      2014, will vest with respect to 4,865 rights on May 8, 2015, and 4,866
      rights on each of May 8, 2016, 2017 and 2018.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD style="TEXT-ALIGN: left" width="100%"><FONT face="Times New Roman" size=2>Represents the number of restricted shares that are expected to
      vest on April 30, 2015, based upon achievement of a 19.5% compounded
      annual growth rate (&#147;CAGR&#148;) of 2014 total net sales over 2011 total net
      sales and a maximum return on invested capital (&#147;ROIC&#148;) over the
      three-year performance period ended December 31, 2014.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(5)</FONT></TD>
    <TD style="TEXT-ALIGN: left" width="100%"><FONT face="Times New Roman" size=2>Represents the number of restricted shares that are expected to
      vest on May 3, 2016, based upon expected achievement of a CAGR of 2015
      total net sales over 2012 total net sales and expected achievement of ROIC
      over the three-year performance period ending December 31, 2015. The
      maximum number of restricted shares that may vest based upon the
      achievement of a maximum CAGR of 2015 total net sales over 2012 total net
      sales and a maximum ROIC over the three-year performance period is as
      follows: Mr. Gustafsson &#150;39,073 shares; Mr. Gagnier 10,550 shares; Mr.
      Heel &#150; 0; Mr. Smiley &#150; 11,331 shares; and Mr. Terzich &#150; 9,378
      shares.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(6)</FONT></TD>
    <TD style="TEXT-ALIGN: left" width="100%"><FONT face="Times New Roman" size=2>Represents the number of restricted shares that would vest on May
      15, 2017, based upon achievement of a threshold target level of 2016 net
      sales and a threshold target level of 2016 adjusted EBITDA margin. The
      maximum number of restricted shares that may vest based upon the
      achievement of a maximum target level of 2016 net sales and a maximum
      target level of 2016 adjusted EBITDA margin is as follows: Mr. Gustafsson
      &#150; 24,091 shares; Mr. Gagnier 6,746 shares; Mr. Heel &#150; 10,777 shares; Mr.
      Smiley &#150; 7,227 shares; and Mr. Terzich &#150; 8,392 shares. See &#147;Grants of
      Plan-Based Awards in 2014&#148; table and footnote 3 to that table for a more
      detailed description of these awards.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(7)</FONT></TD>
    <TD style="TEXT-ALIGN: left" width="100%"><FONT face="Times New Roman" size=2>The SAR granted on May 5, 2011 will vest with respect to 3,129
      rights on May 5, 2015; the SAR granted on April 30, 2012 will vest with
      respect to 3,893 rights on each of April 30, 2015 and 2016; the SAR
      granted on May 3, 2013, will vest with respect to 2,443 rights on each of
      May 3, 2015, 2016 and 2017; and the SAR granted on May 8, 2014, will vest
      with respect to 1,364 rights on each of May 8, 2015 and 2016, and 1,365
      rights on each of May 8, 2017 and
2018.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>39</FONT><FONT face="Times New Roman" size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(8)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The SAR granted on
      September 15, 2014, will vest with respect to 2,143 rights on each of
      September 15, 2015, 2016, 2017 and 2018.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(9)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The SAR&nbsp;granted
      on May 5, 2011 will vest with respect to 3,129 rights on May 5, 2015; the
      SAR granted on April 30, 2012, will vest with respect to 3,893 rights on
      each of April 30, 2015 and 2016; the SAR granted on May 3, 2013 will vest
      with respect to 2,625 rights on each of May 3, 2015, 2016 and 2017; and
      the SAR granted on May 8, 2014, will vest with respect to 1,462 rights on
      each of May 8, 2015, 2016, 2017 and 2018.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" width="101%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(10)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The SAR granted on
      May 5, 2011 will vest with respect to 2,891 rights on May 5, 2015; the SAR
      granted on April 30, 2012 will vest with respect to 3,581 rights on each
      of April 30, 2015 and 2016; the SAR granted on May 3, 2013 will vest with
      respect to 2,172 rights on each of May 3, 2015 and 2016, and 2,173 rights
      on May 3, 2017; and the SAR granted on May 8, 2014, will vest with respect
      to 1,199 rights on each of May 8, 2015, 2016, 2017 and
  2018.</FONT></TD></TR></TABLE>
<P align=center><B><FONT face="Times New Roman" size=2>Option/Stock Appreciation
Right Exercises and Stock Vested </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The table below sets forth
information with respect to stock options and stock appreciation rights
exercised by the named executive officers during 2014 and awards of restricted
stock that vested in 2014.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>Options and Stock
Appreciation Rights Exercised and Stock Vested in 2014</FONT></B><FONT face="Times New Roman" size=2> </FONT></P>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; padding-left: 4pt; padding-right: 4pt" cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="27%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="18%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; border-top: #000000 1pt solid; text-align: center"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Number
    of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="27%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Number
    of</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="18%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: center"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Shares</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="27%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Shares</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="18%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>Value
      Realized</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Acquired
    on</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Value Realized
      on</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="27%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Acquired
    on</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="18%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>on
    Exercise</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Vesting</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Vesting</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP ALIGN="LEFT" WIDTH="27%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>Name</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Exercise
      (#)</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="18%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>($)<SUP>(1)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>(#)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>($)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="27%"><FONT face="Times New Roman" size=2>Anders Gustafsson</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>27,840</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="18%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>1,059,312</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>43,706</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>3,175,568</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="27%"><FONT face="Times New Roman" size=2>Hugh
      K. Gagnier</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>45,217</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="18%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>1,639,624</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>7,461</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>538,684</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="27%"><FONT face="Times New Roman" size=2>Joachim Heel</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="18%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>0</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="27%"><FONT face="Times New Roman" size=2>Michael C. Smiley</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="18%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>7,461</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>538,684</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="27%"><FONT face="Times New Roman" size=2>Michael H. Terzich</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>9,686</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="18%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>226,310</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>6,892</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="18%"><FONT face="Times New Roman" size=2>497,602</FONT></TD></TR></TABLE></DIV><DIV>____________________</DIV>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Value calculated as
      the difference between the market price of the underlying securities on
      the date of exercise and the exercise or base price of the exercised stock
      options or stock appreciation
rights.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>40</FONT><FONT face="Times New Roman" size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Non-Qualified Deferred
Compensation </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Pursuant to Zebra&#146;s
non-qualified deferred compensation plan, a named executive officer may defer,
on a pre-tax basis, up to 80% of his base salary and annual incentive award.
Deferred compensation balances are credited with gains or losses which mirror
the performance of benchmark investment funds selected by the participant under
the plan. All credited amounts are unfunded general obligations of Zebra, and
participants have no greater rights to payment than any unsecured general
creditor of Zebra. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The value of a participant&#146;s
account changes based upon the performance of a participant&#146;s selected benchmark
investment funds. Account balances are paid either in a lump sum or in annual
installments. The plan permits payment upon, among other things, a termination
of employment or a change in control of Zebra. Zebra does not make contributions
to the plan, but pays the costs of administration. </FONT><B><FONT face="Times New Roman" size=2></FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The table below shows the
funds available under the plan and the 2014 rates of return.</FONT></P>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; padding-left: 4pt; padding-right: 4pt" cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR vAlign=bottom>
    <TD NOWRAP ALIGN="LEFT" WIDTH="89%" BGCOLOR="#c0c0c0" STYLE="border: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>Fund Name</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>2014 Rate of Return</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="89%"><FONT face="Times New Roman" size=2>American Funds Europac Grw R6 (RERGX)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>-1.27%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="89%"><FONT face="Times New Roman" size=2>T.
      Rowe Price International Discovery Fund (PRIDX)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>0.27%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="89%"><FONT face="Times New Roman" size=2>T.
      Rowe Price Dividend Growth Fund (PRDGX)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>13.45%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="89%"><FONT face="Times New Roman" size=2>T.
      Rowe Price Small-Cap Stock Fund (OTCFX)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>8.11%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="89%"><FONT face="Times New Roman" size=2>T.
      Rowe Price Inst. Large Cap Growth (TRLGX)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face="Times New Roman" size=2>9.61%</FONT></TD></TR></TABLE></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>The table below sets forth
information regarding the named executive officers&#146; participation in the plan in
2014.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>Nonqualified Deferred
Compensation for 2014 </FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; padding-left: 4pt; padding-right: 4pt" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="66%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="7%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; border-top: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>Executive</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Registrant</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="6%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; border-top: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>Aggregate</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Aggregate</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="66%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="7%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>Contributions</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Contributions</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="6%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>Earnings
    in</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Aggregate</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Balance
    at</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="66%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="7%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>in Last
      Fiscal</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>in Last
      Fiscal</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="6%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>Last
    Fiscal</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Withdrawals/</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Last
    Fiscal</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="66%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="7%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>Year</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Year</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="6%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>Year</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Distributions</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Year-End</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP ALIGN="LEFT" WIDTH="66%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>Name</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="7%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>($)<SUP>(1)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>($)</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="6%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=2>($)<SUP>(2)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>($)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>($)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Anders Gustafsson</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="7%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="6%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Hugh
      K. Gagnier</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="7%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="6%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>543</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>58,067</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Joachim Heel</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="7%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="6%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Michael C. Smiley</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="7%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="6%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>3,721</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>397,911</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Michael H. Terzich</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="7%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="6%" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><FONT face="Times New Roman" size=2>0</FONT></TD></TR></TABLE><DIV>____________________</DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The amount(s)
      reported in this column are included in the summary compensation table
      under the &#147;Salary&#148; and &#147;Non-Equity Incentive Plan Compensation&#148;
      columns.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The amount(s)
      reported in this column are not included in the summary compensation
      table.</FONT></TD></TR></TABLE>
<P align=center><B><FONT face="Times New Roman" size=2>Employment Agreements
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Zebra has employment
agreements with each of the named executive officers. Mr. Gustafsson&#146;s
employment agreement is substantially the same as the agreements of Messrs.
Gagnier, Heel, Smiley and Terzich, except as described below.</FONT></P>
<P align=left><U><FONT face="Times New Roman" size=2>Messrs. Gagnier, Heel,
Smiley and Terzich</FONT></U><FONT face="Times New Roman" size=2>. Messrs.
Gagnier, Heel, Smiley and Terzich are entitled to annual base salaries and are
eligible to earn targeted annual incentive awards under Zebra&#146;s annual incentive
plan. Eligibility to receive equity-based compensation is determined in the sole
discretion of the Compensation Committee. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>41</FONT><FONT face="Times New Roman" size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>If the officer terminates
his employment for good reason or Zebra terminates his employment without cause
and under circumstances other than death or disability, the officer will be
entitled to (i) a severance payment equal to one-year continuation of base
salary; (ii) a pro rata portion of his annual incentive for the year in which
his employment terminates, if the incentive otherwise would have been earned;
(iii) any unpaid previously earned annual incentive; (iv) a severance payment
equal to 100% of the officer&#146;s target annual incentive for the year in which
employment terminates; (v) outplacement services not to exceed $32,000; and (vi)
the continuation of coverage under Zebra&#146;s medical and dental insurance plans,
with Zebra contributing to the cost of such coverage at the same rate Zebra pays
for health insurance coverage for its active employees under its group health
plan, until the earlier of (a) one year after the date of termination, or (b)
the officer becoming eligible for coverage under another group health plan that
does not impose preexisting condition limitations. &#147;Cause&#148; includes the
commission, indictment or conviction of a felony or misdemeanor involving fraud
or dishonesty; a material breach of the employment agreement; willful or
intentional misconduct, gross negligence, or dishonest, fraudulent or unethical
behavior; failure to materially comply with a direction of the Board; or breach
of fiduciary duty to Zebra.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>If the officer terminates
employment for good reason or Zebra terminates the officer&#146;s employment without
cause, and the termination occurs within 120 days immediately preceding or one
year following a &#147;change in control,&#148; then the officer will be entitled to all
compensation and benefits set forth in the immediately preceding paragraph,
except that the officer will receive a payment equal to two times base salary in
lieu of one-year salary continuation, plus two times target annual incentive in
lieu of one times, which payment would be payable within 60 days following the
later of the change in control or termination of employment. A &#147;change in
control&#148; includes (1) an acquisition by a person or group of 35% or more of
Zebra&#146;s common stock; (2) a change in a majority of the Board within a 24-month
period; (3) the approval by our stockholders of a complete liquidation or
dissolution of Zebra; or (4) the consummation of a reorganization, merger or
consolidation of Zebra or sale or other disposition of all or substantially all
of the assets of Zebra. &#147;Good reason&#148; includes a demotion to a lesser position
or assignment of duties materially inconsistent with the officer&#146;s position,
status or responsibilities; a material breach by Zebra of the employment
agreement; or a decrease in base salary (unless applied
proportionally).</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>If payments or benefits
exceed the threshold under Section 4999 of the Internal Revenue Code and an
excise tax becomes due, the officer would be entitled to a gross-up payment such
that, after payment by him of all applicable taxes and excise taxes, he retains
an amount equal to the amount he would have retained had no excise tax been
imposed; provided, that if the threshold under Section 4999 is exceeded by 10%
or less, the total payments he would be entitled to would be reduced so that no
excise tax would be due. Mr. Heel is not entitled to a gross-up payment if
payments exceed the 3X parachute payment threshold under the Internal Revenue
Code. If the parachute payments would exceed the 3X threshold, then the payments
will be cut back to an amount that is one dollar less than the threshold.
However, this cut back would not be made if Mr. Heel would have more &#147;after
excise tax&#148; dollars if he paid the excise tax.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Each officer is bound by
non-competition and non-solicitation provisions until two years following
termination, except Mr. Gagnier is bound for one year following termination.
Each officer has agreed to confidentiality covenants during and after
employment.</FONT></P>
<P STYLE="text-align: left"><U><FONT face="Times New Roman" size=2>Mr.
Gustafsson</FONT></U><FONT face="Times New Roman" size=2>. Mr. Gustafsson&#146;s
employment agreement provides for a minimum base salary of $700,000, a target
annual incentive equal to 100% of salary and a maximum annual incentive equal to
200% of salary. </FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Mr. Gustafsson&#146;s agreement
also provides (i) that any decrease in Mr. Gustafsson&#146;s starting date salary
permits him to terminate his employment for good reason and (ii) if Mr.
Gustafsson terminates employment for good reason or Zebra terminates his
employment without cause and under circumstances other than death or disability,
he will not receive outplacement services, the unvested portion of
non-performance-based equity awards will vest immediately (unless otherwise
expressly set forth in an award agreement, such as Mr. Gustafsson&#146;s time-vested
SAR and restricted stock award agreements granted in 2010, 2011, 2012, 2013 and
2014), the continuation of his salary will be for a period of two years, and,
unless it is otherwise terminated, the continuation of healthcare coverage will
be for a period of two years.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>42</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Potential Payments upon
Termination of Employment or Change in Control </FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Described below are the
potential payments and benefits to which the named executive officers would be
entitled from Zebra under their employment agreements, their equity award
agreements, and Zebra&#146;s compensation and benefit plans upon termination of
employment, if such termination had occurred as of December 31, 2014. Amounts
actually received would vary based on factors such as the date on which a named
executive officer&#146;s employment terminates and the price of our common stock on
such date. The tables exclude payments and benefits that are provided on a
non-discriminatory basis to full-time salaried employees, such as accrued salary
and vacation pay.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>The named executive
officers are not entitled to any payments or benefits as a result of a
termination of employment for cause. </FONT></P>
<P STYLE="text-align: center"><B><FONT face="Times New Roman" size=2>Retirement or Voluntary
Resignation </FONT></B></P>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="81%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Accelerated</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Accelerated</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="81%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Salary</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Earned</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Options
    and</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Restricted</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="81%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Name</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Severance ($)</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Severance ($)</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive ($)</FONT></B><B><FONT face="Times New Roman" size=1><SUP>(1)</SUP></FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>SARs ($)</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Stock ($)<SUP>(2)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Total ($)<SUP>(3)</SUP></FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="81%"><FONT face="Times New Roman" size=2>Anders Gustafsson</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="81%"><FONT face="Times New Roman" size=2>Hugh
      K. Gagnier</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="81%"><FONT face="Times New Roman" size=2>Joachim Heel</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="81%"><FONT face="Times New Roman" size=2>Michael C. Smiley</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="81%"><FONT face="Times New Roman" size=2>Michael H. Terzich</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD></TR></TABLE>
<DIV>____________________<BR></DIV><BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">(1)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Under the 2014 annual incentive plan, a
      participant may be paid any earned incentive award amount in the event of
      termination by reason of retirement, but not voluntary resignation. None
      of the named executive officers was eligible for retirement under the 2014
      annual incentive plan.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top width="99%">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">(2)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Although none of the named executive officers
      was age 65 as of December 31, 2014, the time-vested restricted stock
      awards and performance-vested restricted stock awards granted in 2013 and
      2014 provide for pro rata vesting for a termination of employment by
      reason of retirement on or after age 65 or prior to age 65 with the
      approval of the Senior Vice President, Human Resources. The
      performance-vested restricted stock awards would vest pro rata in
      accordance with the performance goals.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top width="99%">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">(3)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Excludes the amount of previously earned and
      fully vested deferred compensation under the 2002 Deferral Plan that would
      become immediately payable. See &#147;Non-Qualified Deferred Compensation&#148;
      above for additional information.</TD></TR></TABLE>
<P align=center><B><FONT face="Times New Roman" size=2>Death or Disability
</FONT></B></P>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="76%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="5%" BGCOLOR="#c0c0c0" COLSPAN="3" STYLE="border-top: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="5%" BGCOLOR="#c0c0c0" COLSPAN="3" STYLE="border-top: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="5%" BGCOLOR="#c0c0c0" COLSPAN="3" STYLE="border-top: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=1>Accelerated</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="5%" BGCOLOR="#c0c0c0" COLSPAN="3" STYLE="border-right: #000000 1pt solid; border-left: #000000 1pt solid; border-top: #000000 1pt solid; text-align: center"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="76%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Salary</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="5%" BGCOLOR="#c0c0c0" COLSPAN="3" STYLE="border-left: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=1>Earned</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="5%" BGCOLOR="#c0c0c0" COLSPAN="3" STYLE="border-left: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=1>Accelerated</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="5%" BGCOLOR="#c0c0c0" COLSPAN="3" STYLE="border-left: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=1>Restricted</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="5%" BGCOLOR="#c0c0c0" COLSPAN="3" STYLE="border-right: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="76%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Name</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Severance ($)</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Severance ($)</FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="5%" BGCOLOR="#c0c0c0" COLSPAN="3" STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=1>Incentive ($)</FONT></B><B><FONT face="Times New Roman" size=1><SUP>(1)</SUP></FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="5%" BGCOLOR="#c0c0c0" COLSPAN="3" STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=1>SARs ($)<SUP>(2)
      </SUP></FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="5%" BGCOLOR="#c0c0c0" COLSPAN="3" STYLE="border-left: #000000 1pt solid; border-bottom: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=1>Stock ($)<SUP>(3)</SUP></FONT></B></TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="5%" BGCOLOR="#c0c0c0" COLSPAN="3" STYLE="border-right: #000000 1pt solid; border-bottom: #000000 1pt solid; border-left: #000000 1pt solid; text-align: center"><B><FONT face="Times New Roman" size=1>Total
    ($)<SUP>(4)</SUP></FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: left; width: 76%"><FONT face="Times New Roman" size=2>Anders Gustafsson</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 3%">&nbsp;&nbsp;&nbsp; </TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>1,677,808</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp; </TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%">&nbsp;&nbsp;&nbsp; </TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>3,511,910</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp; </TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%">&nbsp;&nbsp;&nbsp; </TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>6,607,795</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 1%">&nbsp;&nbsp;&nbsp; </TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 1%">&nbsp;&nbsp;&nbsp; </TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>11,797,300</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%">&nbsp;&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: left; width: 76%"><FONT face="Times New Roman" size=2>Hugh
      K. Gagnier</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 3%"></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>531,037</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>657,306</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>2,651,819</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>3,840,162</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: left; width: 76%"><FONT face="Times New Roman" size=2>Joachim Heel</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 3%"></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>199,726</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>33,517</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>926,907</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>1,160,170</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: left; width: 76%"><FONT face="Times New Roman" size=2>Michael C. Smiley</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 3%"></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>590,215</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>675,372</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>2,760,348</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>4,025,935</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: left; width: 76%"><FONT face="Times New Roman" size=2>Michael H. Terzich</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 3%"></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>480,564</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%; border-bottom: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>597,393</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>2,493,361</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 1%"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>3,571,318</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 1%"></TD></TR></TABLE>

<DIV>____________________<BR></DIV><BR>

<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(1)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Under the 2014 annual incentive plan,
      participants are entitled to any earned incentive award amount in the
      event of termination of employment by reason of death or disability. The
      amount assumes termination of employment at year end and is based on
      actual performance.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(2)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Time-vested SARs accelerate vesting in full,
      except that Mr. Gustafsson&#146;s 2014, 2013, 2012, 2011 and 2010 time-vested
      SAR awards vest pro rata based on the number of days from the grant date
      through and including the date of termination of employment. The amounts
      reflect the difference between the exercise price of each SAR and the
      $77.41 closing price of our common stock on The NASDAQ Stock Market on
      December 31, 2014, for the following number of in-the-money SARs: Mr.
      Gustafsson &#150; 85,358; Mr. Gagnier &#150; 23,705; Mr. Heel &#150; 8,572; Mr. Smiley &#150;
      24,638; and Mr. Terzich &#150; 21,367.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(3)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Time-vested restricted stock awards accelerate
      vesting in full, except that Mr. Gustafsson&#146;s 2014, 2013, 2012, 2011 and
      2010 time-vested restricted stock awards vest pro rata based on the number
      of days from the grant date through and including the date of termination
      of employment. For performance-vested restricted stock awards, the target
      number of shares accelerates, except that Mr. Gustafsson&#146;s
      performance-vested restricted stock awards vest at target in a pro rata
      amount based on the number of days from the grant date through and
      including the date of termination of employment.</TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>43</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">The amounts reflect the $77.41 closing price of
      our common stock on The NASDAQ Stock Market on December 31, 2014, for the
      following number of shares of restricted stock: Mr. Gustafsson &#150; 85,358;
      Mr. Smiley &#150; 24,638; Mr. Gagnier &#150; 34,257; Mr. Heel &#150; 11,974; Mr. Smiley &#150;
      35,659; and Mr. Terzich &#150; 32,210.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(4)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Excludes the amount of previously earned and
      fully vested deferred compensation under the 2002 Deferral Plan that would
      become immediately payable. See &#147;Non-Qualified Deferred Compensation&#148;
      above for additional information.</TD></TR></TABLE>
<P align=center><B><FONT face="Times New Roman" size=2>Termination by Zebra
without Cause or by Officer for Good Reason </FONT></B></P>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="76%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Medical,</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="76%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Salary</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Earned</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Accelerated</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Dental,</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="76%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Severance</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Severance</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Accelerated</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Restricted</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Outplacement</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="5%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: left; width: 76%; background-color: #c0c0c0; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=1>Name</FONT></B></TD>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: center; width: 3%; background-color: #c0c0c0; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>($)</FONT></B><B><FONT face="Times New Roman" size=1><SUP>(1)</SUP></FONT></B></TD>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: center; width: 3%; background-color: #c0c0c0; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>($)<SUP>(1)</SUP></FONT></B></TD>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: center; width: 3%; background-color: #c0c0c0; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>($)<SUP>(2)</SUP></FONT></B></TD>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: center; width: 3%; background-color: #c0c0c0; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>SARs ($)</FONT></B><B><FONT face="Times New Roman" size=1><SUP>(3)</SUP></FONT></B></TD>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: center; width: 3%; background-color: #c0c0c0; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>Stock ($)<SUP>(4)</SUP></FONT></B></TD>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: center; width: 3%; background-color: #c0c0c0; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>($)</FONT></B><B><FONT face="Times New Roman" size=1><SUP>(5)</SUP></FONT></B></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 5%; background-color: #c0c0c0"><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>Total
      ($)</FONT></B><B><FONT face="Times New Roman" size=1><SUP>(6)</SUP></FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: left; width: 76%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>Anders Gustafsson</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>1,700,000</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>850,000</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>1,677,808</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT size=2>3,511,910</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT size=2>6,607,582</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>17,921</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 5%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT face="Times New Roman" size=2>14,365,221</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: left; width: 76%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>Hugh K. Gagnier</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>380,970</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>266,679</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>531,037</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>2,176,010</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>45,683</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 5%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT face="Times New Roman" size=2>3,400,379</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: left; width: 76%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>Joachim Heel</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>450,000</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>337,500</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>199,726</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>94,289</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>45,983</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 5%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT face="Times New Roman" size=2>1,127,498</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD NOWRAP STYLE="border-left: Black 1pt solid; text-align: left; width: 76%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>Michael C. Smiley</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>396,864</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>297,648</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>590,215</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>2,250,712</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-left: Black 1pt solid; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>45,975</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; width: 5%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT face="Times New Roman" size=2>3,581,414</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="76%"><FONT face="Times New Roman" size=2>Michael H. Terzich</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: #000000 1pt solid; border-left: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>344,760</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: #000000 1pt solid; border-left: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>241,332</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: #000000 1pt solid; border-left: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>480,564</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: #000000 1pt solid; border-left: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: #000000 1pt solid; border-left: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>1,975,919</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: #000000 1pt solid; border-left: Black 1pt solid; text-align: center; width: 3%"><FONT face="Times New Roman" size=2>46,100</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 5%; border-right: Black 1pt solid"><FONT face="Times New Roman" size=2>3,088,675</FONT></TD></TR></TABLE>
<DIV>____________________<BR></DIV><BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%">(1)</TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">The named executive officers are entitled to
      severance equal to salary for one year and one times target incentive,
      except Mr. Gustafsson, who is entitled to salary for two years and one
      times target incentive.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(2)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Under the 2014 annual incentive plan, and in
      accordance with the named executive officers&#146; employment agreements, the
      named executive officer may be paid an earned incentive award amount in
      the event of termination by Zebra without cause or termination by the
      named executive officer for good reason. The amount assumes termination of
      employment at year end and is based on actual performance.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(3)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Mr. Gustafsson&#146;s 2014, 2013,
      2012, 2011 and 2010 time-vested SAR awards vest pro rata based on the
      number of days from the grant date through and including the date of
      termination of employment. At December 31, 2014, 80,414 in-the-money SARs
      held by Mr. Gustafsson would have accelerated vesting. The amount reflects
      the difference between the $77.41 closing price of our common stock on The
      NASDAQ Stock Market on December 31, 2014, and the base price of each
    SAR.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(4)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Time-vested restricted stock
      awards granted in 2012 accelerate vesting in full., except for Mr.
      Gustafsson, whose 2012 time-vested award would vest pro rata. Time-vested
      restricted stock awards granted in 2014 and 2013 to all executives and Mr.
      Gustafsson&#146;s 2012 and 2010 time-vested restricted stock awards, vest pro
      rata based on the number of days from the grant date through and including
      the date of termination of employment. Performance-vested restricted stock
      awards granted in 2013 and 2012 to executives other than Mr. Gustafsson
      accelerate vesting in accordance with the performance-based vesting goals.
      Performance-vested restricted stock awards granted in 2014 to executives
      other than Mr. Gustafsson accelerate vesting in accordance with the
      performance-based vesting goals on a pro rata basis. Because no portion of
      the performance period ending December 31, 2016, has been completed as of
      December 31, 2014, the 2014 performance-vested restricted stock awards
      granted to executives other than Mr. Gustafsson are reflected in the table
      on a pro rata basis at target performance. Mr. Gustafsson&#146;s 2014, 2013 and
      2012 performance-vested restricted stock awards vest pro rata based on the
      number of days from the grant date through and including the date of
      termination of employment. The amounts reflect the $77.41 closing price of
      our common stock on The NASDAQ Stock Market on December 31, 2014, for the
      following number of shares of restricted stock: Mr. Gustafsson &#150; 85,358;
      Mr. Gagnier &#150; 28,110; Mr. Heel &#150; 1,218; Mr. Smiley &#150; 29,075; and Mr.
      Terzich &#150; 25,525.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(5)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">The named executive officers are
      entitled to healthcare and dental coverage for up to one year and
      outplacement services with a value up to $32,000, except Mr. Gustafsson,
      who is entitled to healthcare and dental coverage for up to two years, but
      no outplacement services.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(6)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Excludes the amount of previously
      earned and fully vested deferred compensation under the 2002 Deferral Plan
      that would become immediately payable. See &#147;Non-Qualified Deferred
      Compensation&#148; above for additional information.</TD></TR></TABLE>
<P></P>
<P align=center><FONT face="Times New Roman" size=2>44</FONT><FONT face="Times New Roman" size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Termination by Zebra
without Cause or by Officer for<BR>Good Reason Concurrently with a Change in
Control </FONT></B><B><FONT face="Times New Roman" size=2><SUP>(1)</SUP></FONT></B></P>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="78%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Medical,</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: black 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: black 1pt solid; WIDTH: 5%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="78%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Salary</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Earned</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Restricted</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Dental,</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-RIGHT: black 1pt solid; BORDER-LEFT: black 1pt solid; WIDTH: 5%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="78%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Severance</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Severance</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Accelerated</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>Stock
      ($)<SUP>(4)</SUP></FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Outplacement</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1></FONT></B><STRONG><FONT face="Times New Roman" size=1>Excise
      Tax</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: black 1pt solid; BORDER-LEFT: black 1pt solid; WIDTH: 5%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="78%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Name</FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>($)<SUP>(2)</SUP></FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>($)<SUP>(2)</SUP></FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>($)<SUP>(3)</SUP></FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>SARs ($)<SUP>(4)(5)</SUP></FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1><SUP>(6)</SUP></FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>($)<SUP>(7)</SUP></FONT></B></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1><SUP></SUP></FONT></B><B><FONT face="Times New Roman" size=1>Gross Up ($)<SUP>(8)</SUP></FONT></B></TD>
    <TD style="BORDER-RIGHT: black 1pt solid; BORDER-LEFT: black 1pt solid; WIDTH: 5%; BORDER-BOTTOM: #000000 1pt solid; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>Total ($)<SUP>(9)</SUP></FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="78%"><FONT face="Times New Roman" size=2>Anders
      <BR>Gustafsson</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,700,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,700,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,677,808</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>5,601,244</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>10,497,880</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>17,921</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 3%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" noWrap><FONT face="Times New Roman" size=2>21,194,853</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="78%"><FONT face="Times New Roman" size=2>Hugh
      K.<BR>Gagnier</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>761,940</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>533,358</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>531,037</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>657,306</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>2,651,819</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>45,683</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 3%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" noWrap><FONT face="Times New Roman" size=2>5,181,143</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="78%"><FONT face="Times New Roman" size=2>Joachim<BR>Heel</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>900,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>675,000</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>199,726</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>33,517</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>926,907</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>45,983</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 3%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" noWrap><FONT face="Times New Roman" size=2>2,781,133</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="78%"><FONT face="Times New Roman" size=2>Michael
      C.<BR>Smiley</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>793,728</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>595,296</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>590,215</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>675,372</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>2,760,348</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>45,975</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,291,294</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 3%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" noWrap><FONT face="Times New Roman" size=2>6,752,228</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="78%"><FONT face="Times New Roman" size=2>Michael
      H.<BR>Terzich</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>689,520</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>482,664</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>480,564</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>597,393</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>2,493,361</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>46,100</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 3%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" noWrap><FONT face="Times New Roman" size=2>4,789,602</FONT></TD></TR></TABLE>
<DIV>____________________<BR></DIV><BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%">(1)</TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">The named executive officers are entitled to
      the severance amounts and earned incentive award, if any, if Zebra
      terminates the named executive officers&#146; employment without cause or the
      named executive officers terminate employment for good reason within 120
      days before or one year after a change in control, commonly referred to as
      a &#147;double trigger.&#148; The meanings of change in control, good reason and
      cause are set forth under &#147;Employment Agreements&#148; above.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(2)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">The named executive officers are entitled to
      severance equal to two times salary and target incentive.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(3)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Under the 2014 annual incentive
      plan, participants are entitled to any earned incentive award amount in
      the event of termination by Zebra without cause or, in accordance with the
      named executive officers&#146; employment agreements, termination by the named
      executive officer for good reason in the event of a change in control. The
      amount assumes termination of employment at year end and is based on
      actual performance.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(4)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Under the 2011 Long-Term
      Incentive Plan (&#147;2011 LTIP&#148;), and beginning with equity awards to the
      named executive officers in 2012, if pursuant to a change in control of
      Zebra effective December 31, 2014, stockholders receive consideration
      consisting solely of publicly traded common stock and outstanding equity
      awards are assumed or provision is made for the continuation of these
      awards after the change in control, then such awards will continue in
      accordance with their terms. These awards, however, also provide that if
      the participant&#146;s employment is terminated by the participant for good
      reason or by Zebra without cause during the one-year period after the
      change in control, then vesting of the awards will accelerate. Because
      Securities and Exchange Commission rules require that we assume a
      termination of employment occurs concurrently with a change in control,
      the amounts set forth in the table includes equity awards that under the
      2011 LTIP contain &#147;double trigger&#148; acceleration provisions.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(5)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">The following number of unvested
      in-the-money SARs held by the named executive officers would be
      accelerated as a result of a change in control and concurrent termination
      of employment on December 31, 2014: Mr. Gustafsson &#150; 151,560; Mr. Gagnier
      &#150; 23,705; Mr. Heel &#150; 8,572; Mr. Smiley &#150; 24,638; and Mr. Terzich &#150; 21,367.
      The amounts reflect the difference between the $77.41 closing of our
      common stock on The NASDAQ Stock Market on December 31, 2014, and the base
      price of each SAR.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(6)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">The following total number of
      unvested shares of restricted stock held by the named executive officers
      would be accelerated as a result of a change in control and concurrent
      termination of employment on December 31, 2014: Mr. Gustafsson &#150; 135,614;
      Mr. Gagnier &#150; 34,257; Mr. Heel &#150; 11,974; Mr. Smiley &#150; 35,659; and Mr.
      Terzich &#150; 32,210. For performance-vested restricted stock awards granted
      in 2012, the vested number of shares of restricted stock has been
      determined in accordance with the performance-based vesting goals, except
      for Mr. Gustafsson, whose 2012 award vests at target. Performance-vested
      restricted stock awards granted in 2014 and 2013 vest at the target number
      of shares. The amounts reflect the $77.41 closing price of our common
      stock on The NASDAQ Stock Market on December 31, 2014.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(7)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">The named executive officers are
      entitled to healthcare and dental coverage for up to one year and
      outplacement services with a value up to $32,000, except Mr. Gustafsson,
      who is entitled to healthcare and dental coverage for up to two years, but
      no outplacement services.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(8)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Represents estimated tax gross
      ups on severance, accelerated options, SARs and restricted stock, and
      healthcare and dental benefits.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(9)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Excludes the amount of previously
      earned and fully vested deferred compensation under the 2002 Deferral Plan
      that would become immediately payable. See &#147;Non-Qualified Deferred
      Compensation&#148; above for additional information.</TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>45</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><A NAME="a_010"></A><B><FONT face="Times New Roman" size=2>Equity Compensation Plan
Information</FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>The following table provides
information related to Zebra&#146;s equity compensation plans as of December 31,
2014.</FONT> <B><FONT face="Times New Roman" size=2></FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: black 1pt solid; BORDER-LEFT: black 1pt solid; WIDTH: 1%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="BORDER-TOP: black 1pt solid; WIDTH: 90%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Number of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Number of Securities</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: black 1pt solid; WIDTH: 1%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="WIDTH: 90%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Securities to be</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Remaining
      Available for</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: black 1pt solid; WIDTH: 1%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="WIDTH: 90%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Issued Upon</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Weighted-Average</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Future
      Issuance Under</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: black 1pt solid; WIDTH: 1%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="WIDTH: 90%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Exercise of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Exercise
      Price of</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Equity
      Compensation</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: black 1pt solid; WIDTH: 1%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="WIDTH: 90%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Outstanding</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Outstanding Options,</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Plans
      (Excluding</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: black 1pt solid; WIDTH: 1%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="WIDTH: 90%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Options, Warrants</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Warrants</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2>Securities</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: black 1pt solid; WIDTH: 1%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="WIDTH: 90%; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap><STRONG><U><FONT face="Times New Roman" size=2>Plan
      Category</FONT></U></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2><U>and Rights</U></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2><U>and
      Rights</U></FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=center width="3%" bgColor=#c0c0c0 colSpan=3><B><FONT face="Times New Roman" size=2><U>Reflected in Column (a)</U>)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: black 1pt solid; WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="WIDTH: 90%; BORDER-BOTTOM: black 1pt solid; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 3%; BORDER-BOTTOM: black 1pt solid; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap colSpan=3><FONT face="Times New Roman" size=2>(a)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; WIDTH: 3%; BORDER-BOTTOM: black 1pt solid; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap colSpan=3><FONT face="Times New Roman" size=2>(b)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; WIDTH: 3%; BORDER-BOTTOM: black 1pt solid; BACKGROUND-COLOR: #c0c0c0; TEXT-ALIGN: center" noWrap colSpan=3><FONT face="Times New Roman" size=2>(c)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD NOWRAP STYLE="border-left: black 1pt solid; width: 1%; text-align: left">&nbsp;&nbsp; </TD>
    <TD NOWRAP STYLE="width: 90%; text-align: left"><FONT face="Times New Roman" size=2>Equity Compensation Plans Approved
    by</FONT></TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%" STYLE="border-left: #000000 1pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%"></TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%" STYLE="border-left: #000000 1pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%"></TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      &nbsp;&nbsp;&nbsp; </TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%" STYLE="border-left: #000000 1pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%"></TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%" STYLE="border-right: #000000 1pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD></TR>
  <TR STYLE="background-color: White">
    <TD NOWRAP STYLE="border-left: black 1pt solid; width: 1%; text-align: left"></TD>
    <TD NOWRAP STYLE="width: 90%; text-align: left"><FONT face="Times New Roman" size=2>Security Holders</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="1%" STYLE="border-left: #000000 1pt solid"></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="1%"><FONT face="Times New Roman" size=2>1,696,251</FONT></TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%"><FONT face="Times New Roman" size=2><SUP>(1)</SUP></FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="1%" STYLE="border-left: #000000 1pt solid"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="1%"><FONT face="Times New Roman" size=2>41.55</FONT></TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%"></TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%" STYLE="border-left: #000000 1pt solid"></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="1%"><FONT face="Times New Roman" size=2>4,598,119</FONT></TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="1%" STYLE="border-right: #000000 1pt solid"><FONT face="Times New Roman" size=2><SUP>(2)</SUP></FONT>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD style="BORDER-LEFT: black 1pt solid; WIDTH: 1%; TEXT-ALIGN: left" noWrap></TD>
    <TD style="WIDTH: 90%; TEXT-ALIGN: left" noWrap><FONT face="Times New Roman" size=2>Equity Compensation Plans Not Approved
      by</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=left width="1%"></TD></TR>
  <TR STYLE="background-color: White">
    <TD style="BORDER-LEFT: black 1pt solid; WIDTH: 1%; TEXT-ALIGN: left" noWrap></TD>
    <TD style="WIDTH: 90%; TEXT-ALIGN: left" noWrap><FONT face="Times New Roman" size=2>Security Holders</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=right width="1%"></TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>1,604</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(3)</SUP></FONT>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$2.58</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(3)</SUP></FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP></SUP></FONT></TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>0</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=left width="1%"></TD></TR>
  <TR STYLE="background-color: White">
    <TD style="BORDER-LEFT: black 1pt solid; WIDTH: 1%; TEXT-ALIGN: left" noWrap></TD>
    <TD style="WIDTH: 90%; TEXT-ALIGN: left" noWrap>&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=right width="1%"></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: right"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: right"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=left width="1%"></TD></TR>
  <TR STYLE="background-color: White">
    <TD NOWRAP STYLE="border-left: black 1pt solid; width: 1%; text-align: left"></TD>
    <TD NOWRAP STYLE="width: 90%; text-align: left"><FONT face="Times New Roman" size=2>Total</FONT></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; text-align: right; width: 1%"></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: right; border-bottom: Black 2pt double"><FONT face="Times New Roman" size=2>1,697,855</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; width: 1%"></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; text-align: right; width: 1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%"><FONT face="Times New Roman" size=2>41.52</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; width: 1%"></TD>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; text-align: left; width: 1%"></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: right; border-bottom: Black 2pt double"><FONT face="Times New Roman" size=2>4,598,119</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; text-align: left; width: 1%"></TD></TR>
  <TR STYLE="background-color: White">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="text-align: left; width: 1%; border-bottom: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="text-align: right; width: 1%; border-bottom: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="text-align: left; width: 1%; border-bottom: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="text-align: left; width: 1%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"></TD>
    <TD NOWRAP STYLE="text-align: left; width: 1%; border-right: Black 1pt solid; border-bottom: Black 1pt solid"></TD></TR></TABLE>
<DIV>____________________<BR></DIV><BR>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 10pt;" vAlign=top width="1%">(1)</TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Reflects shares of Zebra common stock issuable
      pursuant to outstanding options and stock appreciation rights under the
      1997 Stock Option Plan, 2006 Incentive Compensation Plan, 2002
      Non-Employee Director Stock Option Plan and 2011 Long-Term Incentive
    Plan.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt;" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(2)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Reflects the number of shares available under
      the 2011 Long-Term Incentive Plan (&#147;LTIP&#148;) (3,307,608 shares) and 2011
      Employee Stock Purchase Plan (1,290,511 share). All of the shares under
      the LTIP are available for any award made under the LTIP, including
      options, stock appreciation rights, restricted stock, restricted stock
      units, performance shares or performance units.</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 10pt;" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt" size=2>(3)</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">Reflects shares issuable pursuant
      to outstanding options under the WhereNet Corp. 1997 Stock Option Plan.
      Zebra granted these options upon conversion of WhereNet options when Zebra
      acquired WhereNet Corp.</TD></TR></TABLE>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_011"></A>Compensation Committee
Interlocks and Insider Participation</FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Only independent directors
served on the Compensation Committee during 2014. Dr. Potter is the Chair of the
Compensation Committee, and Ms. Roberts and Messrs. Keyser and Smith are
members. None of them (i) has ever been an officer or other employee of Zebra or
(ii) has any relationship requiring disclosure under Item 404 of the Security
and Exchange Commission&#146;s Regulation S-K. No executive officer of Zebra served
in 2014 on the compensation committee or similar body of any organization that
determined compensation payable to any member of the Compensation
Committee.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>46</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_012"></A>Proposal 2</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Advisory Vote to Approve
Compensation of Named Executive Officers</FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Zebra is seeking your
advisory vote to approve the compensation of our named executive officers as
disclosed in this proxy statement in accordance with Section 14A of the
Securities Exchange Act of 1934 and the rules of the Securities and Exchange
Commission. This is known as a &#147;say-on-pay&#148; proposal. At Zebra&#146;s 2014 annual
meeting of stockholders, the proposal was approved by 95.2% of the votes cast
for or against the proposal. At the 2011 annual meeting, our stockholders
indicated a preference of holding an annual say on pay vote.</FONT></P>
<P ALIGN="JUSTIFY" STYLE="margin-left: 15pt"><FONT face="Times New Roman" size=2>We ask our stockholders to
approve the following resolution: </FONT></P>
<P STYLE="text-align: left; margin-left: 15pt"><FONT face="Times New Roman" size=2>&#147;Resolved, that the
compensation of the named executive officers of Zebra Technologies Corporation,
as disclosed pursuant to Item 402 of Regulation S-K, as described in and
including the Executive Summary-Compensation Discussion and Analysis,
Compensation Discussion and Analysis, compensation tables and narrative
discussion contained in this proxy statement, is approved by the stockholders of
Zebra.&#148; </FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>As described in detail
under &#147;</FONT><I><FONT face="Times New Roman" size=2>Executive Summary -
Compensation Discussion and Analysis&#148; and &#147;Compensation Discussion and
Analysis</FONT></I><FONT face="Times New Roman" size=2>,&#148; our total rewards and
executive compensation programs are designed to attract, retain, motivate,
develop and reward our named executive officers, who are critical to our
success. Under these programs, our named executive officers are rewarded for the
achievement of specific annual, long-term and strategic goals, corporate and
individual goals, and the realization of increased stockholder value.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Our Compensation Committee
regularly reviews the compensation programs for our named executive officers to
ensure they achieve the desired goals of aligning our executive compensation
structure with our stockholders&#146; interests and current market practices. Our
Compensation Committee also regularly reviews its own processes to ensure
alignment with its charter and recent regulatory requirements. This review
includes such topics as peer review analysis, total rewards philosophy,
Compensation Committee charter review and a compensation risk
assessment.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>We are asking our
stockholders to approve our named executive officer compensation as described in
this proxy statement. This proposal gives you the opportunity to express your
view on the compensation of our named executive officers. This stockholder vote
is not intended to address any specific element of compensation, but rather the
overall compensation of our named executive officers and the philosophy,
policies and practices described in this proxy statement. We ask you to vote
&#147;FOR&#148; the approval of the resolution included above.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>This vote is advisory, and
therefore not binding on Zebra, our Compensation Committee, or our Board of
Directors. Our Board of Directors and Compensation Committee value the opinions
of our stockholders and will consider the results of the vote, as appropriate,
in making future decisions regarding the compensation of our named executive
officers.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>The Board of Directors
recommends a vote &#147;FOR&#148; approval of the compensation of our named executive
officers. </FONT></B></P>
<P align=center><FONT face="Times New Roman" size=2>47</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_013"></A>Proposal 3
</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Approval of 2015
Short-Term Incentive Plan </FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>We believe that short-term
incentive compensation is an important component of our compensation program.
The Board of Directors asks our stockholders to approve the 2015 Short-Term
Incentive Plan (the &#147;STIP&#148;) at the annual meeting. Short-term compensation
awards have been governed by the 2011 Short-Term Incentive Plan, which was
approved by our stockholders in 2011. If approved by stockholders, the STIP
would become effective on the date of stockholder approval. The STIP would apply
to awards made on or after January 1, 2016. Incentive compensation awards made
pursuant to the Zebra Technologies Corporation 2011 Short-Term Incentive Plan
would continue to be governed by the terms of that plan. The Board believes the
STIP is in the best interests of Zebra because it will enable Zebra to attract,
retain, motivate and reward key personnel. The Board adopted the STIP on
February 11, 2015, after receiving the recommendation of our Compensation
Committee to approve the STIP. The STIP would become effective upon obtaining
stockholder approval.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>Reference is made to
Exhibit A to this Proxy Statement for the complete text of the STIP, which is
summarized below.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Description of the
STIP<BR></FONT></I></B><I><FONT face="Times New Roman" size=2>Administration.
</FONT></I><FONT face="Times New Roman" size=2>The STIP will be administered by
the Compensation Committee, which consists of at least two members of the Board
who are both non-employee directors of Zebra within the meaning of Rule 16b-3
under the Securities Exchange Act of 1934 and outside directors for purposes of
the $1 million deductibility cap under the Internal Revenue Code (the &#147;Code&#148;).
The Committee may delegate the administration of the STIP to the Board or the
chief executive officer other than certain matters relating to awards to persons
whose compensation is or may be subject to the $1 million deductibility cap or
who are subject to Section 16 of the Securities Exchange Act of 1934.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>The Compensation Committee
will, subject to the terms of the STIP, interpret the STIP and establish rules
and regulations it deems necessary or desirable for the administration of the
STIP. All determinations and decisions made by the Compensation Committee and
all related orders and resolutions of the Board will be final, conclusive and
binding on all persons. </FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Effective Date,
Termination and Amendment. </FONT></I><FONT face="Times New Roman" size=2>The
STIP will become effective as of May 14, 2015, if approved by stockholders at
the annual meeting and will continue until amended or terminated by the Board.
The Board may amend the STIP, subject to any requirement of stockholder approval
required by law, the rules of NASDAQ or as determined by the Board.</FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Awards. </FONT></I><FONT face="Times New Roman" size=2>Awards will be made for a fiscal year or shorter
period and, unless otherwise determined by the Compensation Committee, will be
paid in cash in a lump sum payment (subject to applicable tax withholding).
Awards may be in the form of an annual cash incentive plan or individual award
agreements. Awards will be paid promptly following the Compensation Committee&#146;s
determination of whether and the extent to which the performance goals have been
achieved with respect to the performance period, but in no event will awards be
paid later than December 31 of the year following the end of the performance
period, provided that, in the case of a participant whose employment terminates
on or before December 31 of a calendar year that falls within a performance
period, if the Compensation Committee determines that such participant is
entitled to payment in respect of all or a portion of the participant&#146;s award,
then the payment will be made to the participant not later than March 15 of the
calendar year following the year of termination. The Compensation Committee will
also have the right to allow participants to elect to defer the payment of
awards subject to such terms and conditions as the Committee may
determine.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>The Compensation Committee
will select eligible persons to receive awards and establish the performance
goals applicable to awards. Performance goals may include one or more of the
following measurements: revenue; primary or fully-diluted earnings per share;
EBITDA; pretax income; cash flows from operations; total cash flows; bookings;
return on equity; return on invested capital; return on assets; net operating
profits after taxes; economic value added; total stockholder return or return on
sales; or any individual performance objective which is measured solely in terms
of quantitative targets related to Zebra or Zebra&#146;s business, or any combination
thereof. Performance goals may be based on one or more business criteria, one or
more business units or divisions of Zebra or the applicable sector, or Zebra as
a whole, and comparison with a peer group of companies.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>48</FONT></P>
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<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>With respect to awards
granted to persons who are, or are expected to be, employed as the chief
executive officer of Zebra or one of the three most highly compensated officers
of Zebra other than the chief executive officer and chief financial officer as
of the last day of Zebra&#146;s taxable year, the applicable performance goals will
be established by the Compensation Committee no later than the latest date that
the Committee may establish such goals without jeopardizing the ability of the
award to constitute qualified performance-based compensation. For purposes of
complying with the $1 million deductibility cap, the maximum aggregate cash
payout with respect to awards granted in any one fiscal year that may be made to
any participant will be $8,000,000. </FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Termination of
Employment. </FONT></I><FONT face="Times New Roman" size=2>Each award will set
forth the extent to which a participant will have the right to receive payment
following termination of employment. If the award does not include termination
of employment provisions, then termination:</FONT></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#149;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">by reason of retirement, death or disability
      would result in a prorated payout as of the date of termination (except,
      in the case of retirement for awards intended to satisfy the $1 million
      deductibility cap, such awards would terminate);</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#149;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">for cause would result in the immediate
      forfeiture of the award; and</TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT size=>&#149;</FONT></TD>
    <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: left">termination for any reason other than
      retirement, death, disability or for cause (e.g., resignation), would
      result in immediate forfeiture of the award.</TD></TR></TABLE><BR>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Change in
Control-Definition. </FONT></I><FONT face="Times New Roman" size=2>For purposes
of the STIP, a change in control means (i) an acquisition by a person or group
of 35% or more of the shares of common stock of Zebra (other than an acquisition
directly from or by Zebra, by a Zebra benefit plan or certain reorganizations,
merger or consolidations), (ii) a change in a majority of the Board, (iii) the
consummation of a reorganization, merger or consolidation or sale of all or
substantially all of Zebra&#146;s assets (unless the stockholders receive 50% or more
of the stock of the company resulting from such transaction and no person or
group owns 35% or more of the shares after the transaction) or (iv) a
liquidation or dissolution of Zebra.</FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Effect of Change in
Control. </FONT></I><FONT face="Times New Roman" size=2>Except as provided in an
award and absent any action taken by the Board or the Compensation Committee to
continue the STIP for the remainder of an outstanding performance period in
which a Change in Control occurs, in the event of a Change in Control, each
participant subject to an outstanding award will receive a prorated payment of
the target payout under the award.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Federal Income Tax
Consequences<BR></FONT></I></B><FONT face="Times New Roman" size=2>The following
is a brief summary of certain U.S. federal income tax consequences generally
arising with respect to awards under the STIP.</FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>General</FONT></I><FONT face="Times New Roman" size=2>. A participant will recognize compensation
taxable as ordinary income (and subject to income tax withholding) in the year
of payment, and Zebra will be entitled to a corresponding deduction.</FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Golden Parachute
Payments</FONT></I><FONT face="Times New Roman" size=2>. Awards that are
granted, accelerated or enhanced upon the occurrence of a change in control may
give rise, in whole or in part, to &#147;excess parachute payments&#148; under Section
280G and Section 4999 of the Code. Under these provisions, the participant would
be subject to a 20% excise tax on, and Zebra would be denied a deduction with
respect to, any &#147;excess parachute payments.&#148;</FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Section</FONT></I><FONT face="Times New Roman" size=2> </FONT><I><FONT face="Times New Roman" size=2>162(m) of the Code</FONT></I><FONT face="Times New Roman" size=2>.
Section 162(m) of the Code generally limits to $1 million the amount that a
publicly held company is allowed each year to deduct for the compensation paid
to each of the company's chief executive officer and the company's three most
highly compensated executive officers other than the chief executive officer and
the chief financial officer. However, &#147;qualified performance-based compensation&#148;
is not subject to the $1 million deduction limit. To qualify as
performance-based compensation, the following requirements must be satisfied:
(1) the performance goals must be determined by a committee consisting solely of
two or more &#147;outside directors&#148;, (2) the material terms under which the
compensation is to be paid, including the performance goals, must be approved by
a majority of the company's stockholders, and (3) if applicable, the committee
must certify that the applicable performance goals were satisfied before payment
of any performance-based compensation is made. As noted above, the Compensation
Committee currently consists solely of &#147;outside directors&#148; for purposes of
Section 162(m) of the Code. The Committee would be permitted to grant awards
under the STIP as qualified performance-based compensation within the meaning of
Section 162(m).</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>49</FONT></P>
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<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Section</FONT></I><FONT face="Times New Roman" size=2> </FONT><I><FONT face="Times New Roman" size=2>409A of the Code</FONT></I><FONT face="Times New Roman" size=2>. Section
409A of the Code (&#147;Section 409A&#148;) establishes rules that must be followed with
respect to covered deferred compensation arrangements in order to avoid the
imposition of premature income tax and a 20% excise tax on the individual
entitled to receive the deferred compensation. Certain awards granted under the
STIP may constitute deferred compensation subject to Section 409A. If an award
is subject to Section 409A and does not comply with the requirements of Section
409A, then the amount deferred will become subject to immediate taxation to the
participant, and the participant will be required to pay (1) a penalty equal to
interest at the underpayment rate plus l% on the tax that should have been paid
on the amount of the original deferral and any related earnings, and (2) in
addition to any regular tax, an excise tax equal to 20% of the original deferral
and any earnings credited on the deferral. It is intended that the provisions of
the STIP either satisfy the requirements of Section 409A or fall within an
exemption from Section 409A. Zebra reserves the right to amend the STIP and
awards as the company determines in good faith to be necessary to comply with
the requirements of Section 409A.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>The Board of Directors
recommends a vote &#147;FOR&#148; approval of the 2015 Short-Term Incentive
Plan</FONT></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>50</FONT><FONT face="Times New Roman" size=2> </FONT></P>
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<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_014"></A>Proposal 4
</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Approval of 2015
Long-Term Incentive Plan </FONT></B></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>We believe that stock-based
incentive compensation is integral to our compensation program and advances the
interests of Zebra and its subsidiaries by rewarding key personnel for their
long-term contributions to Zebra&#146;s financial success and motivating them to
continue to make such contributions in the future. The Board of Directors asks
our stockholders to approve the 2015 Long-Term Incentive Plan (the &#147;LTIP&#148;) at
the annual meeting. If approved by stockholders, the LTIP will become effective
on the date of stockholder approval. In the event that the Plan is not approved
by the stockholders, the LTIP would be null and void. The Plan would supersede
and replace the Zebra Technologies Corporation 2011 Long-Term Compensation Plan
(the &#147;</FONT><U><FONT face="Times New Roman" size=2>Prior Plan</FONT></U><FONT face="Times New Roman" size=2>&#148;), except that the Prior Plan would remain in
effect with respect to outstanding awards under the Prior Plan until those
awards have been exercised or otherwise terminated. As of March 1, 2015,
3,307,608 shares were available for new awards under the 2011 LTIP and awards
with respect to 808,213 were outstanding.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>If stockholders approve the
LTIP, no additional grants will be made under the 2011 LTIP after the date of
stockholder approval and any shares then available for new awards under the 2011
LTIP will no longer be available under the 2011 LTIP or the LTIP. The Board
believes the LTIP is in the best interests of Zebra because it links long-term
incentive compensation to Zebra&#146;s financial performance and will enable Zebra to
attract, retain, motivate and reward key personnel. Additionally, due to Zebra&#146;s
acquisition of the Enterprise Mobility business of Motorola Solutions, Inc. in
October 2014, Zebra is seeking stockholder approval of the LTIP to ensure equity
grants are available to employees of the new, much larger employee population.
The Board adopted the LTIP on February 11, 2015 after receiving the
recommendation of our Compensation Committee to approve the LTIP. The LTIP would
become effective upon obtaining stockholder approval.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>General</FONT></I></B><BR><FONT face="Times New Roman" size=2>The purposes of the LTIP
are align participants&#146; long-term compensation with the interests of Zebra and
its stockholders and to attract, retain, motivate and reward key personnel.
Under the LTIP, we may grant non-qualified options to purchase shares of Zebra&#146;s
common stock, &#147;incentive stock options&#148; (within the meaning of Section 422 of
the Internal Revenue Code of 1986 (the &#147;Code&#148;)), stock appreciation rights
(&#147;SARs&#148;), restricted stock, restricted stock units (&#147;RSUs&#148;), performance awards,
performance shares, and performance units.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Approximately 3,200
officers, other employees, non-employee directors and consultants are eligible
to participate in the LTIP. The closing price of Zebra&#146;s common stock on March
22, 2011, was $37.10. </FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>Reference is made to
Exhibit B to this Proxy Statement for the complete text of the LTIP, which is
summarized below.</FONT></P>
<P STYLE="text-align: left"><B><I><FONT face="Times New Roman" size=2>Description of the
LTIP</FONT></I></B><BR><I><FONT face="Times New Roman" size=2>Administration.
</FONT></I><FONT face="Times New Roman" size=2>The LTIP will be administered by
the Compensation Committee consisting of at least two members of the Board who
are both non-employee directors of Zebra within the meaning of Rule 16b-3 under
the Securities Exchange Act of 1934 and outside directors for purposes of the $1
million deductibility cap under the Internal Revenue Code (the &#147;Code&#148;). The
Board will administer the LTIP for purposes of granting awards to non-employee
directors and for approving, after receiving the recommendation of the
Committee, awards to the CEO.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>The Compensation Committee
will select eligible persons to receive awards and determine the form, amount
and timing of each award and all other terms and conditions of each award,
including the number of shares, SARs or units subject to an award and the
vesting or performance for an award. </FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>The Compensation Committee
may delegate the administration of the LTIP other than certain matters relating
to awards to persons whose compensation is or may be subject to the $1 million
deductibility cap or who are subject to Section 16 of the Securities Exchange
Act of 1934 or who are non-employee directors.</FONT></P>
<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>The Compensation Committee
will, subject to the terms of the LTIP, interpret the LTIP and establish rules
and regulations it deems necessary or desirable for the administration of the
LTIP and may impose, incidental to the grant of an award, conditions with
respect to the award, such as limiting competitive employment or other
activities. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>51</FONT></P>
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<P STYLE="text-align: left"><FONT face="Times New Roman" size=2>All determinations and
decisions made by the Compensation Committee and all related orders and
resolutions of the Board will be final, conclusive and binding on all persons.
</FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Effective Date,
Termination and Amendment. </FONT></I><FONT face="Times New Roman" size=2>The
LTIP will become effective as of May 14, 2015, if approved by stockholders at
the annual meeting and will terminate on the tenth anniversary of the effective
date, unless terminated earlier by the Board. The Board may amend the LTIP,
subject to any requirement of stockholder approval required by law, the rules of
NASDAQ or as determined by the Board.</FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Available Shares.
</FONT></I><FONT face="Times New Roman" size=2>Subject to adjustment in the
event of a stock split, stock dividend, merger, reorganization or similar event,
5,500,000 shares of common stock will be available under the LTIP. The number of
available shares will be reduced by the aggregate number of shares of common
stock which become subject to outstanding awards. The LTIP does not provide for
the &#147;recycling&#148; of shares that are not issued or delivered by reason of the
termination of an award or by reason of the delivery or withholding of shares to
pay all or a portion of the exercise price or tax withholding obligations
relating to the award. For purposes of complying with the $1 million
deductibility cap, the maximum aggregate number of shares (including options,
SARs, restricted stock, RSUs, performance units and performance shares to be
paid out in shares) that may be granted in any one fiscal year to a participant
will be 500,000 and the maximum aggregate cash payout (including performance
awards, performance units and performance shares paid out in cash) with respect
to awards granted in any one fiscal year that may be made to any participant
will be $8,000,000. </FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Stock Options.
</FONT></I><FONT face="Times New Roman" size=2>The Compensation Committee will
determine (i) whether an option is an incentive stock option or non-qualified
stock option, (ii) the number of shares subject to the option and the purchase
price per share, which may not be less than 100% of the fair market value of a
share on the date of grant, (iii) the period during which the option may be
exercised, which may not be later than ten years after the date of grant in the
case of an incentive stock option, (iv) whether such option is exercisable in
whole or in part, (v) whether the option may be exercised by paying cash or
delivering previously owned shares and (vi) whether the option is subject to
specified performance goals during an applicable performance period. </FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Incentive Stock Options.
</FONT></I><FONT face="Times New Roman" size=2>Each incentive stock option will
be exercisable for no more than ten years after its date of grant, unless the
option holder owns greater than ten percent of the voting power of all shares of
our capital stock (a &#147;ten percent holder&#148;), in which case the option will be
exercisable for no more than five years after its date of grant. The exercise
price of an incentive stock option will not be less than the fair market value
of the common stock on its date of grant, unless the option holder is a ten
percent holder, in which case the option exercise price will be the price
required by the Code, currently 110% of fair market value. Subject to the
requirements of the Code, all of the terms relating to the exercise or
cancellation of an incentive stock option (and tandem SAR) upon a termination of
employment, whether by reason of disability, retirement, death or any other
reason, will be determined by the Compensation Committee.</FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>Stock Appreciation
Rights. </FONT></I><FONT face="Times New Roman" size=2>An SAR entitles the
holder to receive, upon exercise, shares (which may be restricted stock or
RSUs), cash or a combination thereof with an aggregate value equal to the excess
of the fair market value of one share on the date of exercise over the grant
price of such SAR. The Compensation Committee will determine (i) whether an SAR
is issued in tandem with, or by reference to, an option (a &#147;Tandem SAR&#148;) or is
free-standing (a &#147;Non-Tandem SAR&#148;), (ii) the number of SARs subject to the award
and the grant price of the SAR, which may not be less than 100% of the fair
market value of a share on the date of grant, (iii) the period during which the
SAR may be exercised, which may not be longer than the exercise period of the
related option in the case of a Tandem SAR, (iv) whether the SAR is exercisable
in whole or in part, (v) whether the SAR may be exercised for shares (including
restricted stock or RSUs), cash or a combination thereof and (vi) whether the
SAR is subject to specified performance goals during an applicable performance
period. </FONT></P>
<P STYLE="text-align: left"><I><FONT face="Times New Roman" size=2>No Repricing of Options
or Stock Appreciation Rights. </FONT></I><FONT face="Times New Roman" size=2>Subject to adjustment in the event of a stock split, stock dividend,
merger, reorganization or similar event, the terms of an outstanding option or
SAR may not be amended to reduce the exercise price or grant price, and no
option or SAR may be canceled in exchange for cash, other awards or options or
SARs with an exercise price or grant price that is less than the exercise price
or grant price of the original option or SAR without the approval of a majority
of the votes cast affirmatively or negatively by stockholders at a meeting in
which the reduction of such exercise price or grant price, or the cancellation
and regranting of an award, is considered for approval. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>52</FONT><FONT face="Times New Roman" size=2> </FONT></P>
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<P align=left><I><FONT face="Times New Roman" size=2>Restricted Stock and
Restricted Stock Unit Awards. </FONT></I><FONT face="Times New Roman" size=2>The
LTIP provides for the grant of (1) stock awards which may be subject to a
restriction period (&#147;restricted stock&#148;) and (2) RSU awards. An RSU is a right to
receive a share, or an equivalent cash value, that is subject to a restriction
period. An award of restricted stock or RSUs may be subject to specified
performance goals during an applicable performance period. Restricted stock and
RSU awards will be subject to forfeiture if the holder does not remain
continuously in the employment of or service to Zebra during the restriction
period or, if the award is subject to performance goals, if those performance
goals are not attained. The Compensation Committee will determine (i) whether an
award will be in restricted stock or RSUs, (ii) the number of shares or RSUs
subject to the award, (iii) the length of the restriction period and (iv) the
performance goals, if any (e.g., stockholder return and earnings per share).
Unless otherwise set forth in the award agreement, the holder of a restricted
stock award (but not an RSU award) will have voting rights and will have the
right to receive dividends with respect to the shares of restricted stock.
</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Performance Awards,
Performance Units and Performance Share Awards. </FONT></I><FONT face="Times New Roman" size=2>The LTIP also provides for the grant of
performance awards, performance unit awards and performance share awards. A
performance award is a right, contingent upon the attainment of performance
goals within a performance period, to receive an amount in cash that has an
initial value specified in the award agreement. A performance unit award is a
right, contingent upon the attainment of performance goals within a performance
period, to receive an amount that has an initial value equal to the fair market
value of a share on the grant date, which amount may be paid in a share (which
may be restricted stock or an RSU), or in lieu of all or a portion thereof, the
fair market value of a share in cash. A performance share award is a right,
contingent upon the attainment of performance goals within a performance period,
to receive one share (which may be restricted stock or an RSU), or in lieu of
all or a portion thereof, the fair market value of a share in cash.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Prior to the settlement of a
performance unit award or performance share award in shares of common stock, the
holder of the award will have no rights as a stockholder of Zebra with respect
to the shares of common stock subject to the award. Performance awards,
performance units and performance shares will be subject to forfeiture if the
specified performance goals are not attained. The Compensation Committee will
determine (i) the initial cash value, or number of performance units or shares
subject to the award, (ii) the performance goals, (iii) the length of the
performance period and (iv) whether the performance units or performance shares
may be settled in shares, cash or a combination thereof. </FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Performance Goals.
</FONT></I><FONT face="Times New Roman" size=2>Under the LTIP, the vesting or
payment of performance awards, performance units, performance shares and certain
awards of restricted stock or RSUs will be subject to the satisfaction of
certain performance goals. The Compensation Committee will establish performance
goals applicable to awards. Performance goals may include one or more of the
following measurements: revenue; primary or fully-diluted earnings per share;
EBITDA; pretax income; cash flows from operations; total cash flows; bookings;
return on equity; return on invested capital; return on assets; net operating
profits after taxes; economic value added; total stockholder return or return on
sales; or any individual performance objective which is measured solely in terms
of quantitative targets related to Zebra or Zebra&#146;s business, or any combination
thereof. Performance goals may be based on one or more business criteria, one or
more business units or divisions of Zebra or the applicable sector, or Zebra as
a whole, and comparison with a peer group of companies.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>With respect to awards granted
to persons who are, or are expected to be, employed as the chief executive
officer of Zebra or one of the three most highly compensated officers of Zebra
other than the chief executive officer and chief financial officer as of the
last day of Zebra&#146;s taxable year, the applicable performance goals will be
established by the Compensation Committee no later than the latest date that the
Committee may establish such goals without jeopardizing the ability of the award
to constitute qualified performance-based compensation.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Non-Transferability of
Awards. </FONT></I><FONT face="Times New Roman" size=2>Unless otherwise
specified in the agreement relating to an award, no award may be transferable
other than by will, the laws of descent and distribution or pursuant to
beneficiary designation procedures approved by Zebra.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Termination of Employment.
</FONT></I><FONT face="Times New Roman" size=2>Each award agreement will set
forth the extent to which a participant will have the right to exercise the
option or SAR or to receive or settle unvested restricted stock, RSUs,
performance awards, performance units or performance shares following
termination of employment, service as a non-employee director, </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>53</FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>or consulting arrangement. If
the award agreement does not include termination of employment or service
provisions, then termination:</FONT></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face=Arial size=2></FONT><FONT face="Times New Roman" size=2>by reason of retirement, death or disability would result (i) in
      the case of options and SARs, in acceleration of exercisability of any
      unexercisable options or SARs, which may then be exercised until the
      earlier of the expiration date of the option or SAR and the date which is
      12 months after such termination, (ii) in the case of restricted stock and
      RSUs, in acceleration of vesting of any unvested shares or RSUs, and (iii)
      in the case of performance awards, performance units and performance
      shares, in a prorated payout as of the date of termination (except in the
      case of retirement for awards intended to satisfy the $1 million
      deductibility cap, which awards would terminate); </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face=Arial size=2></FONT><FONT face="Times New Roman" size=2>for cause would result in the immediate forfeiture of the award;
      and </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-RIGHT: 8pt; PADDING-LEFT: 15pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
    <TD vAlign=top width="99%">
      <P align=left><FONT face=Arial size=2></FONT><FONT face="Times New Roman" size=2>termination for any reason other than retirement, death, disability
      or for cause (e.g., resignation), would result in (i) the option or SAR
      being exercisable only to the extent exercisable on the date of
      termination until the earlier the expiration date of the option or SAR and
      the date which is 90 days after such termination and (ii) the immediate
      forfeiture of any restricted stock, restricted stock units, performance
      awards, performance units and performance
shares.</FONT></P></TD></TR></TABLE>
<P align=left><I><FONT face="Times New Roman" size=2>Change in
Control-Definition. </FONT></I><FONT face="Times New Roman" size=2>For purposes
of the LTIP, a change in control means (i) an acquisition by a person or group
of 35% or more of the shares of common stock of Zebra (other than an acquisition
directly from or by Zebra, by a Zebra benefit plan or certain reorganizations,
merger or consolidations), (ii) a change in a majority of the Board, (iii) the
consummation of a reorganization, merger or consolidation or sale of all or
substantially all of Zebra&#146;s assets (unless the stockholders receive 50% or more
of the stock of the company resulting from such transaction and no person or
group owns 35% or more of the shares after the transaction) or (iv) a
liquidation or dissolution of Zebra.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Effect of Change in
Control-Double Trigger v. Cash-out. </FONT></I><FONT face="Times New Roman" size=2>If pursuant to a change in control stockholders receive consideration
consisting solely of publicly traded common stock and outstanding options, SARs,
restricted stock awards and RSU awards are assumed or provision is made for the
continuation of outstanding options, SARs, restricted stock awards and RSU
awards after the change in control, then all outstanding time-vested options,
SARs, restricted stock awards and RSU awards will continue in accordance with
their terms; provided, that if a holder&#146;s employment with Zebra and its
subsidiaries is terminated by the holder for good reason or by Zebra or any
subsidiary without cause after the change in control and prior to the one-year
anniversary of the change in control, then all outstanding options and SARs held
by the holder will become exercisable in full and, along with any then
unexercised portions of such options and SARs, will remain exercisable through
the remaining term of such options and SARs, and all outstanding restricted
stock and RSU awards held by the holder will become fully vested. In addition,
all outstanding performance-based awards will become fully vested upon the
occurrence of a change in control, the performance goals will be deemed to be
satisfied at the target level and any options and SARs as to which a performance
period lapses will remain exercisable through the remaining terms of the options
and SARs.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>All other changes in control
would result in a cash-out of awards where each outstanding award will be
surrendered to Zebra by the holder, and such award will immediately be canceled,
and the holder will receive, within ten days of the occurrence of the change in
control, a cash payment from Zebra (or any successor) in an amount equal to (1)
in the case of an option, the number of shares then subject to such option,
multiplied by the excess, if any, of the greater of (A) the highest per share
price offered to Zebra stockholders in any transaction whereby the change in
control takes place or (B) the fair market value of a share on the date of
occurrence of the change in control, over the exercise price of the option, (ii)
in the case of a non-tandem SAR, the number of shares then subject to the SAR,
multiplied by the excess, if any, of the greater of (A) the highest price per
share offered to Zebra stockholders in any transaction whereby the change in
control takes place or (B) the fair market value of a share on the date of
occurrence of the change in control, over the grant price of the SAR, (iii) in
the case of a restricted stock award, RSU award, performance unit award or
performance share award, the number of shares, number of units or number of
performance shares, as the case may be, then subject to such award, multiplied
by the greater of (A) the highest per share price offered to Zebra stockholders
in any transaction whereby the change in control takes place or (B) the fair
market value of a share on the date of occurrence of the change in control, and
(iv) in the case of a performance award, the higher of (A) the target amount of
such award that is payable upon satisfaction of the applicable performance goals
at the target level and (B) the amount that would be accrued under generally
accepted accounting principles as of the date of the occurrence of the change in
control.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>54</FONT></P>
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<P align=left><B><I><FONT face="Times New Roman" size=2>Federal Income Tax
Consequences<BR></FONT></I></B><FONT face="Times New Roman" size=2>The following
is a brief summary of certain U.S. federal income tax consequences generally
arising with respect to awards under the LTIP.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>A participant will not
recognize taxable income at the time an option is granted and Zebra will not be
entitled to a tax deduction at that time. A participant will recognize
compensation taxable as ordinary income (and subject to income tax withholding
in respect of an employee) upon exercise of a non-qualified stock option equal
to the excess of the fair market value of the shares purchased over their
exercise price, and Zebra will be entitled to a corresponding deduction. A
participant will not recognize income (except for purposes of the alternative
minimum tax) upon exercise of an incentive stock option. If the shares acquired
by the exercise of an incentive stock option are held for the longer of two
years from the date the option was granted and one year from the date it was
exercised, any gain or loss arising from a subsequent disposition of such shares
will be taxed as long-term capital gain or loss, and Zebra will not be entitled
to any deduction. If, however, those shares are disposed of within the
above-described period, then in the year of the disposition the participant will
recognize compensation taxable as ordinary income equal to the excess of the
lesser of (1) the amount realized upon the disposition and (2) the fair market
value of those shares on the date of exercise over the exercise price, and Zebra
will be entitled to a corresponding deduction.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>A participant will not
recognize taxable income at the time SARs are granted and Zebra will not be
entitled to a tax deduction at such time. Upon exercise, the participant will
recognize compensation taxable as ordinary income (and subject to income tax
withholding in respect of an employee) in an amount equal to the fair market
value of any shares delivered and the amount of cash paid by Zebra. This amount
is deductible by Zebra as compensation expense.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>A participant will not
recognize taxable income at the time a restricted stock award is granted and
Zebra will not be entitled to a tax deduction at such time, unless the
participant makes an election under Section 83(b) of the Code to be taxed at
such time. If that election is not made, the participant will recognize
compensation taxable as ordinary income (and subject to income tax withholding
in respect of an employee) at the time the time-based or performance-based
restrictions lapse in an amount equal to the excess of the fair market value of
the shares at such time over the amount, if any, paid for the shares. The amount
of ordinary income recognized by making an election under Section 83(b) of the
Code or upon the lapse of restrictions is deductible by Zebra as compensation
expense, except to the extent the deduction limits of Section 162(m) of the Code
apply. In addition, a participant receiving dividends with respect to restricted
stock for which the above-described election has not been made and prior to the
time the restrictions lapse will recognize compensation taxable as ordinary
income (and subject to income tax withholding in respect of an employee), rather
than dividend income, in an amount equal to the dividends paid and Zebra will be
entitled to a corresponding deduction, except to the extent the deduction limits
of Section 162(m) apply. A participant will not recognize taxable income at the
time an RSU award is granted and Zebra will not be entitled to a tax deduction
at such time. Upon the vesting and settlement of an RSU award, the participant
will recognize compensation taxable as ordinary income (and subject to income
tax withholding in respect of an employee) in an amount equal to the excess of
the fair market value of the shares delivered over the amount, if any, paid for
the shares. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>A participant will not
recognize taxable income at the time performance awards, performance units or
performance shares are granted and Zebra will not be entitled to a tax deduction
at that time. Upon the settlement of performance awards, units or shares, the
participant will recognize compensation taxable as ordinary income (and subject
to income tax withholding in respect of an employee) in an amount equal to the
fair market value of any shares delivered and the amount of cash paid by Zebra.
This amount is deductible by Zebra as compensation expense, except to the extent
the deduction limits of Section 162(m) apply.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Golden Parachute
Payments</FONT></I><FONT face="Times New Roman" size=2>. Awards that are
granted, accelerated or enhanced upon the occurrence of a change in control may
give rise, in whole or in part, to &#147;excess parachute payments&#148; under Section
280G and Section 4999 of the Code. Under these provisions, the participant would
be subject to a 20% excise tax on, and Zebra would be denied a deduction with
respect to, any &#147;excess parachute payments.&#148;</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Section</FONT></I><FONT face="Times New Roman" size=2> </FONT><I><FONT face="Times New Roman" size=2>162(m) of the Code</FONT></I><FONT face="Times New Roman" size=2>.
Section 162(m) of the Code generally limits to $1 million the amount that a
publicly held company is allowed each year to deduct for the compensation paid
to each of the company's chief executive officer and the company's three most
highly compensated executive officers other than the chief executive officer
</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>55</FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>and chief financial officer.
However, &#147;qualified performance-based compensation&#148; is not subject to the $1
million deduction limit. To qualify as performance-based compensation, the
following requirements must be satisfied: (1) the performance goals must be
determined by a committee consisting solely of two or more &#147;outside directors&#148;,
(2) the material terms under which the compensation is to be paid, including the
performance goals, must be approved by a majority of the company's stockholders,
and (3) if applicable, the committee must certify that the applicable
performance goals were satisfied before payment of any performance-based
compensation is made. As noted above, the Compensation Committee currently
consists solely of &#147;outside directors&#148; for purposes of Section 162(m) of the
Code. As a result, certain compensation under the LTIP, such as that payable
with respect to options and SARs, is not expected to be subject to the $1
million deduction limit, but other compensation payable under the LTIP, such as
any restricted stock award which is not subject to a performance condition to
vesting, would be subject to the limit.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Section</FONT></I><FONT face="Times New Roman" size=2> </FONT><I><FONT face="Times New Roman" size=2>409A of the Code</FONT></I><FONT face="Times New Roman" size=2>. Section
409A of the Code (&#147;Section 409A&#148;) establishes rules that must be followed with
respect to covered deferred compensation arrangements in order to avoid the
imposition of premature income tax and a 20% excise tax on the individual
entitled to receive the deferred compensation. Certain awards granted under the
LTIP may constitute deferred compensation subject to Section 409A. If an award
is subject to Section 409A and does not comply with the requirements of Section
409A, then amounts deferred in the current year and in previous years will
become subject to immediate taxation to the participant, and the participant
will be required to pay (1) a penalty equal to interest at the underpayment rate
plus l% on the tax that should have been paid on the amount of the original
deferral and any related earnings, and (2) in addition to any regular tax, an
excise tax equal to 20% of the original deferral and any earnings credited on
the deferral. It is intended that the provisions of the LTIP either satisfy the
requirements of Section 409A or fall within an exemption from Section 409A.
Zebra reserves the right to amend the LTIP and outstanding award agreements as
the company determines in good faith to be necessary to comply with the
requirements of Section 409A.</FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>The Board of Directors
recommends a vote &#147;FOR&#148; approval of the 2015 Long-Term Incentive
Plan.</FONT></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>56</FONT></P>
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<P align=center><A NAME="a_015"></A><B><FONT face="Times New Roman" size=2>Report of the Audit
Committee </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The Audit Committee of Zebra&#146;s
Board of Directors is comprised of four directors, all of whom are independent
under applicable listing requirements of The NASDAQ Stock Market. The Audit
Committee operates under a written charter adopted by the Board of Directors.
The members of the Audit Committee are: Mr. Smith, Chair, and Messrs. Ludwick,
Modruson and Manire.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The Audit Committee received
reports from and met and held discussions with management, the internal auditors
and the independent accountants. It reviewed and discussed Zebra&#146;s audited
financial statements with management, and management has represented to the
Audit Committee that Zebra&#146;s financial statements were prepared in accordance
with accounting principles generally accepted in the United States and that such
financial statements taken as a whole, present fairly, in all material respects,
the information set forth therein. The Committee also discussed with the
independent accountants the matters required to be discussed by applicable
accounting standards. The Audit Committee received the written disclosures and
letter from the independent accountants required by applicable requirements of
the Public Company Accounting Oversight Board regarding the independent
accountant&#146;s communications with the Audit Committee concerning independence,
and discussed with the independent accountants the independent accountants&#146;
independence. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The Audit Committee
recommended that the Board of Directors include the audited financial statements
of Zebra in Zebra&#146;s Annual Report on Form 10-K for the year ended December 31,
2014, as filed with the Securities and Exchange Commission. This recommendation
was based on the Audit Committee&#146;s review and discussions with management,
internal auditors and Zebra&#146;s independent accountants, as well as the
Committee&#146;s reliance on management&#146;s representation described above.</FONT></P>
<DIV align=right>
<TABLE style="LINE-HEIGHT: normal; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="40%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><B><FONT face="Times New Roman" size=2>Audit Committee</FONT></B></TD></TR>
  <TR>
    <TD width="100%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Michael A. Smith, Chair</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Andrew K. Ludwick</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Ross
      W. Manire</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Frank Modruson</FONT></TD></TR></TABLE></DIV><BR>
<P align=center><FONT face="Times New Roman" size=2>57</FONT></P>
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<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_016"></A>Fees of Independent
Auditors </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Ernst &amp; Young LLP acted as
the principal independent auditor for Zebra during 2014 and 2013. The firm also
provided certain audit-related, tax and permitted non-audit services. The Audit
Committee pre-approves all audit, audit-related, tax and permitted non-audit
services performed for Zebra by its independent auditors. In 2014 and 2013, the
Audit Committee approved in advance all engagements by Ernst &amp; Young LLP on
a specific project-by-project basis, including audit, audit-related, tax and
permitted non-audit services. No impermissible non-audit services were rendered
by Ernst &amp; Young LLP to Zebra in 2014 or 2013.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>For 2014, fees for audit,
audit-related and tax compliance and tax preparation services were $9,170,719,
while fees for non-audit services, including tax advice, tax planning, and tax
consulting services, were $5,017,362. For 2013, fees for audit, audit-related
and tax compliance and tax preparation services were $1,756,781, while fees for
non-audit services, including tax advice, tax planning, and tax consulting
services, were $1,136,443. Zebra paid Ernst &amp; Young LLP the following fees
and expenses for services provided for the years ended December 31, 2014 and
2013: </FONT></P>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="87%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Fees</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0 colSpan=2><B><FONT face="Times New Roman" size=2>2014</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" bgColor=#c0c0c0 colSpan=2><B><FONT face="Times New Roman" size=2>2013</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>Audit Fees <FONT face="Times New Roman" size=2><SUP>(1)</SUP></FONT></FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>7,429,297</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,359,608</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>Audit-Related Fees</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,361,670</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>346,855</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>Tax
      Fees <FONT face="Times New Roman" size=2><SUP>(2)</SUP></FONT></FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>5,397,114</FONT></TD>
    <TD noWrap align=right width="1%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,186,761</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=right width="1%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>All
      Other Fees</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="87%"><FONT face="Times New Roman" size=2>Total</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>14,188,081</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>2,893,224</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" noWrap align=right width="1%"></TD></TR>
  <TR style="LINE-HEIGHT: 6pt">
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="87%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%">&nbsp;</TD></TR></TABLE></DIV><DIV>____________________</DIV><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2><SUP>(1)</SUP></FONT></TD>
    <TD style="BORDER-TOP: #ffffff 6pt solid" width="100%"><FONT face="Times New Roman" size=2>Consists of fees for the audit of Zebra&#146;s
      annual financial statements and reviews of the financial statements
      included in the quarterly reports on Form 10-Q. Also includes fees for the
      2014 and 2013 audits of internal control over financial
    reporting.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2><SUP>(2) </SUP></FONT></TD>
    <TD style="BORDER-TOP: #ffffff 6pt solid" width="100%"><FONT face="Times New Roman" size=2>For 2014, tax compliance and tax preparation
      fees were $379,752 and tax advice, tax planning and tax consulting fees
      were $5,017,362, of which $4,016,775 related to Zebra&#146;s international
      holding company restructuring. For 2013, tax compliance and tax
      preparation fees were $50,318 and tax advice, tax planning and tax
      consulting fees were $1,136,443.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>58</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_017"></A>Proposal 5
</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Ratification of
Appointment of Independent Auditors </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The Audit Committee appointed
Ernst &amp; Young LLP, independent certified public accountants, as auditors of
Zebra&#146;s financial statements for the year ending December 31, 2015.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The Board wants to give
stockholders the opportunity to express their opinions on the matter of auditors
for Zebra, and, accordingly, is submitting a proposal to ratify the Audit
Committee&#146;s appointment of Ernst &amp; Young. If this proposal does not receive
the affirmative vote of a majority of the votes cast affirmatively or negatively
at the annual meeting, the Audit Committee may appoint another independent
registered public accounting firm or may decide to maintain the appointment of
Ernst &amp; Young.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Zebra expects that
representatives of Ernst &amp; Young will be present at the meeting and
available to respond to questions. These representatives will be given an
opportunity to make a statement if they would like to do so.</FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>The Board of Directors and
the Audit Committee recommend a vote &#147;FOR&#148; the ratification of the appointment
of Ernst &amp; Young LLP as auditors for the year ending December 31, 2015.
</FONT></B></P>
<P align=center><FONT face="Times New Roman" size=2>59</FONT><FONT face="Times New Roman" size=2> </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_018"></A>Executive Officers
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>The following information
identifies and gives other information about our executive officers, other than
Anders Gustafsson, our CEO, and Gerhard Cless, our Executive Vice President,
about whom information is given above under &#147;Proposal 1- Election of
Directors.&#148;</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Michael Cho,
</FONT></I><FONT face="Times New Roman" size=2>age 46, Senior Vice President,
Corporate Development. Mr. Cho joined Zebra in 2010 and served as Vice
President, Strategy from 2010 until 2011. From 2008 to 2010 he served as Vice
President, Business Development, of the Healthcare division of Amcor Limited, a
global packaging company. Prior to that, Mr. Cho served from 2007 to 2008 as
Vice President, Business Development of CommScope Inc., a global communications
solutions company. From 2005 to 2007, Mr. Cho served as Vice President, Business
Development of the Antenna &amp; Cable Products Group at Andrew Corporation,
which he joined in 2004 as Director, Corporate Development &amp; Strategy. From
1999 to 2004 Mr. Cho was a consultant with McKinsey &amp; Company. Mr. Cho
received an MBA from Harvard Business School and a BS in Finance from the
University of Illinois at Urbana-Champaign. </FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Thomas
Collins,</FONT></I><FONT face="Times New Roman" size=2> age 53, joined Zebra in
October 2014 upon the completion of the acquisition of the Enterprise business
from Motorola Solutions as Senior Vice President, Supply Chain Operations. Mr.
Collins previously spent seven years with Motorola Solutions, where he was
responsible for ensuring consistent, on-time and cost-effective delivery of
high-quality products, services and solutions. From 2000 to 2007 he was the
senior vice president of supply chain at Symbol Technologies. Prior to that, he
served as the director of manufacturing for Bose. Mr. Collins earned a
bachelor&#146;s degree in business and management information systems from Rensselaer
Polytechnic Institute.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Hugh K. Gagnier,
</FONT></I><FONT face="Times New Roman" size=2>age 59, Senior Vice President,
Operations. Mr. Gagnier served as Senior Vice President, Operations of our
Specialty Printer Group from 2006 to 2011. Mr. Gagnier joined Zebra as Vice
President and General Manager upon Zebra&#146;s merger with Eltron International,
Inc. in 1998. At Eltron, he was President and Chief Operating Officer. Mr.
Gagnier received a BS degree in Mechanical Engineering from the University of
Southern California. </FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Philip
Gerskovich</FONT></I><FONT face="Times New Roman" size=2>, age 58, Senior Vice
President, New Growth Platforms. Mr. Gerskovich joined Zebra in 2005 and served
as Senior Vice President, Corporate Development, from 2005 until 2011.
Previously, Mr. Gerskovich was Corporate Vice President and General Manager of
New Business, Commercial Printing Division for Eastman Kodak Company, a provider
of photographic and imaging products and services, from 2004 until he joined
Zebra. From 1999 to 2003, he was Corporate Vice President and Chief Operating
Officer, Digital and Applied Imaging, at Kodak. He previously held positions
with Dell, IBM and Sun Microsystems. Mr. Gerskovich received a BS degree in
Computer Engineering from the University of Illinois. </FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Joe Heel, age 49,
</FONT></I><FONT face="Times New Roman" size=2>became Senior Vice President,
Global Sales in September 2014. Previously, Mr. Heel served as vice president of
enterprise sales at IBM, where he oversaw the sales of the company&#146;s product and
services portfolio in Germany, Austria and Switzerland and, later, for the U.S.
Midwest region. He is the former senior vice president of global services for
Avaya, a provider of business collaboration and communications solutions, as
well as for Sun Microsystems, which was later acquired by Oracle Corporation.
Earlier in his career, Mr. Heel was a partner at McKinsey &amp; Company, where
he worked for 13 years. Mr. Heel received MBA and M.S. degrees from the
University of Karlsruhe in Germany and a Ph.D. in electrical engineering from
the Massachusetts Institute of Technology. </FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Jim Kaput</FONT></I><FONT face="Times New Roman" size=2>, age 54, became Senior Vice President, General
Counsel and Corporate Secretary in 2009. From 2008-2009, he served as Counsel to
the Chairman of the Securities and Exchange Commission. Mr. Kaput was Senior
Vice President and General Counsel of The ServiceMaster Company, a consumer
services company, from 2000 to 2007. Mr. Kaput received his JD from Cornell
University School of Law and his BS from The University of
Pennsylvania.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Juliann Larimer, age 48,
</FONT></I><FONT face="Times New Roman" size=2>joined Zebra in August 2014 from
Motorola Solutions as Vice President, Strategic Project Development and became
Senior Vice President, Global Marketing, in December 2014. Most recently at
Motorola, she held the position of Vice President, Americas Marketing.
Responsibilities in this role included: industry, product and field marketing;
marketing operations, and marketing automation for Motorola&#146;s largest region. At
Motorola, Ms. Larimer also held positions as Vice President, Global Sales
Operations &amp; Channels, and Vice President, </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>60</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Worldwide Channel Sales. In
her prior tenure at Zebra, Ms. Larimer held various positions of increasing
responsibility in sales and marketing. Ms. Larimer&#146;s career also includes
positions in NCR Corporation, IBM, Accenture, and Bridgestone Corporation. She
is a graduate of Vanderbilt University and The Kellogg School of Management of
Northwestern University. </FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Girish Rishi, age 45,
</FONT></I><FONT face="Times New Roman" size=2>joined Zebra in October 2014 upon
the completion of the acquisition of the Enterprise business from Motorola
Solutions as Senior Vice President, Enterprise Visibility and Mobility. Mr.
Rishi previously oversaw product development, product management and engineering
for Motorola&#146;s enterprise solutions portfolio. He is the former senior vice
president for strategy and marketing of Matrics, a venture-backed start-up that
was acquired by Symbol. Earlier on, he held positions of increasing
responsibility at Symbol, starting in product management and eventually leading
the Europe, Middle East and Africa region. Mr. Rishi earned a bachelor&#146;s degree
from the University of Bombay, a master&#146;s degree in business administration from
the University of Hartford, and a master&#146;s degree in international public policy
from the School of Advanced International Studies at Johns Hopkins University in
Washington, D.C.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Michael C. Smiley,
</FONT></I><FONT face="Times New Roman" size=2>age 55, became Chief Financial
Officer in 2008. From 2004 until joining Zebra, he served Tellabs, Inc., a
provider of telecommunications networking products, as general manager of the
Tellabs Denmark A/S unit. From 2002 to 2004, he held various finance and
operations executive positions at Tellabs including interim chief financial
officer, vice president, international finance, and treasurer. Prior to 2002,
Mr. Smiley held a number of finance positions including Vice President, Asia
Pacific Finance located in Taipei, Taiwan, for General Semiconductor and
Assistant Treasurer for General Instrument. Mr. Smiley also serves as a member
of the Board of Directors of Twin Disc, Incorporated, a publicly traded
international manufacturer and worldwide distributor of heavy-duty off-highway
and marine power transmission equipment and related products. Mr. Smiley holds a
BS in accounting from Brigham Young University and an MBA degree from the
University of Chicago.</FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Michael H.
Terzich</FONT></I><FONT face="Times New Roman" size=2>, age 53, Senior Vice
President, Chief Administrative Officer. Mr. Terzich served as Senior Vice
President, Global Sales and Marketing from 2011 until becoming Chief
Administrative Officer in December 2014. Mr. Terzich served as Senior Vice
President, Global Sales and Marketing of our Specialty Printer Group from 2006
to 2011. From 2003 until 2006 he served as Zebra&#146;s Senior Vice President, Office
of the CEO, and from 2001 until 2003, as Vice President and General Manager,
Tabletop and Specialty Printers. Since joining Zebra in 1992, Mr. Terzich has
held a variety of positions of increasing responsibility including Vice
President and General Manager, Vice President of Sales for North America, Latin
America, and Asia Pacific, Vice President of Strategic Project Management,
Director, Integration Project Management, Director of Printer Products, and
Director of Customer and Technical Services. Mr. Terzich earned his BS degree in
Marketing from the University of Illinois - Chicago and an MBA from Loyola
University of Chicago. </FONT></P>
<P align=left><I><FONT face="Times New Roman" size=2>Gina
Vascsinec</FONT></I><FONT face="Times New Roman" size=2>, 48, joined Zebra in
November 2014 as our Chief Accounting Officer. From 2010 until 2014, she served
as Vice President, Controller &amp; Chief Accounting Officer, of Hawker
Beechcraft, an aerospace manufacturing company. Previously, from 1997 to 2010,
Ms. Vascsinec held various finance positions at Illinois Tool Works, Inc., a
manufacturing company producing specialized industrial equipment and
consumables, including Vice President, Corporate Controller, Assistant Corporate
Controller, Director-External Reporting, Manager-External Reporting, and
Manager-Financial Consolidations. Earlier in her career, she held senior auditor
positions at Philip Morris and Andersen LLP. Ms. Vascsinec holds a B.S.B.A. in
accounting from Duquesne University and an MBA from the University of Chicago.
She is a certified public accountant. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The Board of Directors
approves the appointment of Zebra&#146;s executive officers. There are no family
relationships among any of our directors or executive officers. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>61</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P align=center><A NAME="a_019"></A><B><FONT face="Times New Roman" size=2>Ownership of Our Common
Stock </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>This table shows how many
shares of our common stock certain individuals and entities beneficially owned
on March 24, 2015, unless otherwise noted. These individuals and entities
include: (1) owners of more than 5% of our outstanding common stock, (2) our
directors, (3) the named executive officers and (4) all directors and executive
officers as a group. A person has beneficial ownership over shares if the person
has sole or shared voting or investment power over the shares or the right to
acquire that power within 60 days. Investment power means the power to direct
the sale or other disposition of the shares. Each individual or entity included
in the table below has sole voting and investment power over the shares, except
as described below. </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="86%"><B><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name and Address</FONT></B></TD>
    <TD noWrap align=left width="3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><B><FONT face="Times New Roman" size=2>Number</FONT></B></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=4><B><FONT face="Times New Roman" size=2>% of Shares
      </FONT></B><FONT face="Times New Roman" size=2><SUP>(1)</SUP></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>More
      than 5% Stockholders</FONT></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jackson
      Square Partners, LLC</FONT></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>4,574,073</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(2)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>8.8</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>%</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackrock,
      Inc.</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>3,548,589</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>6.9</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>%</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
      Vanguard Group, Inc.</FONT></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>3,205,069</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>6.2</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>%</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neuberger
      Berman Group LLC</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>3,083,260</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><SUP>(5)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>6.0</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>%</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital
      Research Global Investors</FONT></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>2,967,630</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(6)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>5.7</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>%</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Directors and Executive Officers</FONT></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gerhard
      Cless</FONT></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,291,745</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(7)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>2.5</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>%</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anders
      Gustafsson</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>662,421</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1.3</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>%</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Richard
      L. Keyser</FONT></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>53,134</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andrew
      K. Ludwick</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>55,313</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ross
      W. Manire</FONT></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>35,894</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frank
      Modruson</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,588</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robert
      J. Potter</FONT></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>13,719</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Janice
      Roberts</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>3,923</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michael
      A. Smith</FONT></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>67,984</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hugh
      K. Gagnier</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>74,297</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Joachim
      Heel</FONT></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>11,974</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michael
      C. Smiley</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>132,134</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michael
      H. Terzich</FONT></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>76,692</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
      Executive Officers and Directors as a group (19 persons)</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2,596,005</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>5.0</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>%</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR></TABLE>
    <DIV>____________________<BR></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>* Less than one percent.
</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2><SUP>(1)</SUP></FONT></TD>
    <TD style="BORDER-TOP: #ffffff 10pt solid" width="100%"><FONT face="Times New Roman" size=2>Based on 51,795,052 shares of common stock
      outstanding on March 24, 2015.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2><SUP>(2)</SUP></FONT></TD>
    <TD style="BORDER-TOP: #ffffff 6pt solid" width="100%"><FONT face="Times New Roman" size=2>Jackson Square Partners, LLC is an
      investment advisor located at 101 California Street, Suite 3750, San
      Francisco, California 94111. According to its Schedule 13G filed on
      February 11, 2015, as of December 31, 2014, Jackson Square had sole voting
      with respect to 2,614,251 shares, shared voting power with respect to
      1,959,822 shares, and sole dispositive power with respect to 4,574,073
      shares.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2><SUP>(3)</SUP></FONT></TD>
    <TD style="BORDER-TOP: #ffffff 6pt solid" width="100%"><FONT face="Times New Roman" size=2>Blackrock, Inc. is a holding company located
      at 40 East 5<SUP>2nd </SUP></FONT><FONT face="Times New Roman" size=2>Street, New York, New York 10022. According to Amendment No. 3 to
      its Schedule 13G filed on January 29, 2015, as of December 31, 2014,
      Blackrock had sole voting power with respect to 3,323,872 shares and
      dispositive power as to all shares listed in the table.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD style="BORDER-TOP: #ffffff 6pt solid" width="100%"><FONT face="Times New Roman" size=2>The Vanguard Group, Inc. is an investment
      advisor located at 100 Vanguard Blvd., Malvern, Pennsylvania, 19355.
      According to Amendment No. 3 to its Schedule 13G filed on February 10,
      2015, as of December 31, 2014, Vanguard had sole voting power with respect
      to 33,951 shares, sole dispositive power with respect to 3,175,318 shares,
      and shared dispositive power with respect to 29,751
  shares.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>62</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2><SUP>(5)</SUP></FONT></TD>
    <TD style="BORDER-TOP: #ffffff 6pt solid" vAlign=top width="100%"><FONT face="Times New Roman" size=2>Neuberger Berman Group LLC is a holding
      company located at 605 Third Avenue, New York, New York 10158. According
      to Amendment 6 to its Schedule 13G filed on February 12, 2015, the shares
      are beneficially owned by Neuberger Berman Group LLC., Neuberger Berman
      LLC, Neuberger Berman Management LLC, and Neuberger Berman Equity Funds
      LLC. Neuberger Berman LLC and Neuberger Berman Management LLC serve as
      sub-advisor and investment manager, respectively, of Neuberger Berman
      Group LLC&#146;s various registered mutual funds. Neuberger Berman Group LLC
      and Neuberger Berman LLC have shared voting power with respect to
      3,076,760 shares, and shared dispositive power with respect to 3,083,260
      shares; Neuberger Berman Management LLC has shared voting and dispositive
      power with respect to 2,778,480 shares; and Neuberger Berman Equity Funds
      has shared voting and dispositive power with respect to 2,342,601 shares.
      </FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2><SUP>(6)</SUP></FONT></TD>
    <TD style="BORDER-TOP: #ffffff 6pt solid" vAlign=top width="100%"><FONT face="Times New Roman" size=2>Capital Research Global Investors is an
      investment advisor located at 333 South Hope Street, Los Angeles,
      California 90071. According to is Schedule 13G filed on February 13, 2015,
      as of December 31, 2014, Capital Research had sole voting and investment
      power as to all shares listed in the table.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2><SUP>(7)</SUP></FONT></TD>
    <TD style="BORDER-TOP: #ffffff 6pt solid" vAlign=top width="100%"><FONT face="Times New Roman" size=2>Includes 265,123 shares held directly by Mr.
      Cless; 85,533 shares held by Grantor Retained Annuity Trusts of which Mr.
      Cless is the beneficiary; 209,000 shares held by a foundation of which
      each of Mr. and Mrs. Cless are directors; 669,376 shares held by
      irrevocable trusts of which Mr. Cless is the beneficiary and Mr. Cless or
      Mrs. Cless is the trustee; and 62,713 shares held directly by Mrs.
      Cless.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD style="BORDER-RIGHT: #ffffff 10pt solid" vAlign=top noWrap><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD style="BORDER-TOP: #ffffff 6pt solid" vAlign=top width="100%"><FONT face="Times New Roman" size=2>Includes shares of common stock that may be
      acquired by May 23, 2015 upon exercise of stock options and stock
      appreciation rights as follows: Mr. Gustafsson &#150; 374,472 shares; Mr.
      Keyser &#150; 37,240 shares; Mr. Ludwick &#150; 43,240 shares; Mr. Manire &#150; 22,000
      shares; Dr. Potter &#150; 0 shares; Mr. Smith &#150; 33,240 shares; Mr. Gagnier &#150;
      29,275 shares; Mr. Heel &#150; 0 shares; Mr. Smiley &#150; 75,128 shares; Mr.
      Terzich &#150; 27,849 shares; and directors and executive officers as a group &#150;
      667,677.</FONT></TD></TR></TABLE>
<P align=center><B><A NAME="a_020"></A><FONT face="Times New Roman" size=2>Section 16(a) Beneficial
Ownership Reporting Compliance </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Section 16(a) of the
Securities Exchange Act of 1934 requires our directors, executive officers and
greater than ten percent stockholders to file reports of holdings and
transactions in our common stock with the Securities and Exchange Commission. To
our knowledge, all required reports were filed in a timely manner.
</FONT><B><FONT face="Times New Roman" size=2></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="a_021"></A>Stockholder Proposals and
Other Business </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>We expect the 2016 Annual
Meeting of Stockholders to be held on or about May 19, 2016. To be considered
for inclusion in our proxy materials for the 2016 annual meeting, a stockholder
proposal must be received at our principal executive offices at Three Overlook
Point, Lincolnshire, Illinois 60069 by December 16, 2015. In addition, our
Bylaws establish an advance notice procedure for stockholder proposals to be
brought before an annual meeting of stockholders, including proposed nominations
of persons for election to the Board. A stockholder proposal or nomination
intended to be brought before the 2016 annual meeting must be delivered to the
Corporate Secretary no earlier than January 15, 2016, and no later than February
14, 2016. All proposals and nominations should be directed to our Corporate
Secretary, Zebra Technologies Corporation, Three Overlook Point, Lincolnshire,
Illinois 60069. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The Board and our management
have not received notice of and are not aware of any business to come before the
2015 annual meeting other than the proposals we refer to in this proxy
statement. If any other matter comes before the annual meeting, the persons on
our proxy committee will use their best judgment in voting the proxies.
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We have mailed our 2014 Annual
Report to Stockholders in connection with this proxy solicitation, which
includes our Annual Report on Form 10-K. If you would like another copy of our
10-K, excluding certain exhibits, please contact the Chief Financial Officer at
the following address: Zebra Technologies Corporation, Three Overlook Point,
Lincolnshire, Illinois 60069. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>63</FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P style="TEXT-ALIGN: right"><B><U><FONT face="Times New Roman" size=2><A NAME="a_022"></A>Exhibit
A</FONT></U></B><B><FONT face="Times New Roman" size=2> </FONT></B></P>
<P style="TEXT-ALIGN: center"><B><FONT face="Times New Roman" size=2>Zebra
Technologies Corporation<BR>2015 Short-Term Incentive Plan </FONT></B></P>
<P style="TEXT-ALIGN: center"><B><FONT face="Times New Roman" size=2>Section 1<BR>Establishment and Purpose </FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>1.1.</FONT></B><B><FONT face="Times New Roman" size=2> </FONT></B><B><U><FONT face="Times New Roman" size=2>Establishment</FONT></U></B><FONT face="Times New Roman" size=2>. This
Plan shall be submitted to the stockholders of Zebra Technologies Corporation, a
Delaware corporation (&#147;</FONT><U><FONT face="Times New Roman" size=2>Zebra</FONT></U><FONT face="Times New Roman" size=2>&#148;) for approval at
the 2015 annual meeting of stockholders and, if approved by majority of the
votes cast affirmatively or negatively by the holders of the shares of Class A
Common Stock, par value $0.01 per share, of Zebra present in person or
represented by proxy at such meeting, shall become effective on the date of such
approval. The Plan shall apply to awards made on or after January 1, 2016.
Incentive compensation awards made pursuant to the Zebra Technologies
Corporation 2011 Short-Term Incentive Plan shall be governed by the terms of
that plan.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>1.2.</FONT></B><B><FONT face="Times New Roman" size=2> </FONT></B><B><U><FONT face="Times New Roman" size=2>Purpose</FONT></U></B><FONT face="Times New Roman" size=2>. The purpose
of the Plan is provide incentive to attract, retain, motivate and reward key
employees of Zebra and its Subsidiaries to enhance and grow the business by
rewarding performance for attaining a specific set of company-wide,
departmental, individual and other Performance Targets that satisfy the
requirements of Section 162(m) of the Internal Revenue Code to the extent so
determined by the Compensation Committee of the Board of Directors of
Zebra.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>Section
2<BR>Definitions</FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.1 &#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Board</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2>
means the Board of Directors of Zebra.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.2 &#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Cause</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2>
means unless otherwise provided for in an Incentive Award, as determined by
Zebra, in its sole discretion, termination of the Participant&#146;s employment with
Zebra and its Subsidiaries because of the Participant&#146;s: (a) material breach of
any agreement to which the Participant and Zebra or a Subsidiary are parties, as
determined by Zebra in good faith; (b) material violation of Zebra policy,
regardless of whether within or outside of his or her authority; (c) willful or
intentional misconduct, gross negligence, or dishonest, fraudulent, or unethical
behavior, or other conduct involving serious moral turpitude, in the performance
of Participant&#146;s duties; (d) dishonesty, theft or conviction of any crime or
offense involving money or property of Zebra or any Subsidiary; (e) breach of
any fiduciary duty owing to Zebra or any Subsidiary; (f) unauthorized disclosure
or dissemination of confidential information; or (g) conduct that is, or could
reasonably be expected to be, materially harmful to Zebra or any of its
Subsidiaries , as determined by Zebra in good faith. </FONT><B><FONT face="Times New Roman" size=2></FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.3 &#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Change in Control</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2>
means, unless the Committee provides otherwise in the Incentive Award, the
occurrence of any of the following events:</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(a) the acquisition by any
individual, entity or group (a &#147;</FONT><U><FONT face="Times New Roman" size=2>Person</FONT></U><FONT face="Times New Roman" size=2>&#148;), including any
&#147;person&#148; within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities
Exchange Act of 1934, as amended (the </FONT><U><FONT face="Times New Roman" size=2>Exchange Act</FONT></U><FONT face="Times New Roman" size=2>&#148;), of
beneficial ownership within the meaning of Rule 13d-3 promulgated under the
Exchange Act, of 35% or more of either (i) the then outstanding shares of Common
Stock (the &#147;</FONT><U><FONT face="Times New Roman" size=2>Outstanding Common
Stock</FONT></U><FONT face="Times New Roman" size=2>&#148;) or (ii) the combined
voting power of the then outstanding securities of Zebra entitled to vote
generally in the election of directors (the &#147;</FONT><U><FONT face="Times New Roman" size=2>Outstanding Voting Securities</FONT></U><FONT face="Times New Roman" size=2>&#148;); </FONT><U><FONT face="Times New Roman" size=2>excluding</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>however</FONT></U><FONT face="Times New Roman" size=2>, the following: (A) any acquisition directly from Zebra (excluding any
acquisition resulting from the exercise of an exercise, conversion or exchange
privilege unless the security being so exercised, converted or exchanged was
acquired directly from Zebra), (B) any acquisition by Zebra, (C) any acquisition
by an employee benefit plan (or related trust) sponsored or maintained by Zebra
or any corporation controlled by Zebra or (D) any acquisition by any corporation
pursuant to a transaction which complies with clauses (i), (ii) and (iii) of
subsection (c) of this Section 2.5; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>further</FONT></U><FONT face="Times New Roman" size=2>, that for purposes of clause (B), if any Person (other than Zebra or any
employee benefit plan (or related trust) sponsored or maintained by Zebra or any
corporation controlled by Zebra) shall become the beneficial owner of 35% or
more of the Outstanding Common Stock or 35% or more of the Outstanding Voting
Securities by reason of an acquisition by Zebra, and such Person shall, after
such acquisition by Zebra, become the beneficial owner of any additional shares
of the </FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>Outstanding Common Stock or
any additional Outstanding Voting Securities and such beneficial ownership is
publicly announced, such additional beneficial ownership shall constitute a
Change in Control;</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(b) individuals who, as of the
date hereof, constitute the Board (the &#147;</FONT><U><FONT face="Times New Roman" size=2>Incumbent Board</FONT></U><FONT face="Times New Roman" size=2>&#148;) cease
for any reason to constitute at least a majority of such Board; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, that any individual who becomes a director of Zebra subsequent to the
date hereof whose election, or nomination for election by Zebra&#146;s stockholders,
was approved by the vote of at least two-thirds of the directors then comprising
the Incumbent Board shall be deemed a member of the Incumbent Board; and
</FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>further</FONT></U><FONT face="Times New Roman" size=2>, that any
individual who was initially elected as a director of Zebra as a result of an
actual or threatened solicitation by a Person other than the Board for the
purpose of opposing a solicitation by any other Person with respect to the
election or removal of directors, or any other actual or threatened solicitation
of proxies or consents by or on behalf of any Person other than the Board shall
not be deemed a member of the Incumbent Board or who was initially elected as a
director of Zebra and whose election was opposed by the Incumbent
Board;</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(c) the consummation of a
reorganization, merger or consolidation or sale or other disposition of all or
substantially all of the assets of Zebra (a &#147;</FONT><U><FONT face="Times New Roman" size=2>Corporate Transaction</FONT></U><FONT face="Times New Roman" size=2>&#148;); </FONT><U><FONT face="Times New Roman" size=2>excluding</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>however</FONT></U><FONT face="Times New Roman" size=2>, a Corporate Transaction pursuant to which (i) all or substantially all
of the individuals or entities who are the beneficial owners, respectively, of
the Outstanding Common Stock and the Outstanding Voting Securities immediately
prior to such Corporate Transaction will beneficially own, directly or
indirectly, more than 50% of, respectively, the outstanding shares of common
stock, and the combined voting power of the outstanding securities entitled to
vote generally in the election of directors, as the case may be, of the entity
resulting from such Corporate Transaction (including, without limitation, an
entity which as a result of such transaction owns Zebra or all or substantially
all of Zebra&#146;s assets either directly or indirectly) in substantially the same
proportions relative to each other as their ownership, immediately prior to such
Corporate Transaction, of the Outstanding Common Stock and the Outstanding
Voting Securities, as the case may be, (ii) no Person (other than: Zebra; any
employee benefit plan (or related trust) sponsored or maintained by Zebra or any
entity controlled by Zebra; and any Person which beneficially owned, immediately
prior to such Corporate Transaction, directly or indirectly, 35% or more of the
Outstanding Common Stock or the Outstanding Voting Securities, as the case may
be) will beneficially own, directly or indirectly, 35% or more of, respectively,
the outstanding shares of common stock of the entity resulting from such
Corporate Transaction or the combined voting power of the outstanding securities
of such corporation entitled to vote generally in the election of directors and
(iii) individuals who were members of the Incumbent Board will constitute at
least a majority of the members of the board of directors (or similar body) of
the entity resulting from such Corporate Transaction; or</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(d) the consummation of a plan
of complete liquidation or dissolution of Zebra.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.4 &#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Code</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means the Internal
Revenue Code of 1986, as amended.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.5 &#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Committee</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2>
means the Compensation Committee of the Board.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.6 &#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Disability</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2>
means, unless otherwise provided by the Committee, the Employee qualifying for
long-term disability benefits under any long-term disability program sponsored
by Zebra or a Subsidiary in which the Employee participates.</FONT><B><FONT face="Times New Roman" size=2> </FONT></B><FONT face="Times New Roman" size=2></FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.7 &#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Employee</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2>
means any employee of Zebra or any Subsidiary. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.8 &#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Exchange Act</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2>
means the Securities Exchange Act of 1934, as amended. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.9 &#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Good Reason</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2>
means, unless otherwise provided for in an Incentive Award, termination of the
Participant&#146;s employment with Zebra and its Subsidiaries because of resignation
by the Participant for any of the following reasons: (a) a demotion of the
Participant to a lesser position (including a material diminution in the status
of the Participant&#146;s responsibilities, authorities, powers or duties taken as a
whole) or assignment to the Participant of any duties materially inconsistent
with the status and responsibilities of the Participant&#146;s position; (b) a
material breach of any provision of the Participant&#146;s employment agreement, if
any, by Zebra or its Subsidiaries and Zebra&#146;s failure to cure such breach within
fifteen (15) business days after receipt of written notice from the Participant
to the Chief Administrative Officer or other person responsible for Human
Resources specifying in reasonable detail the nature of the breach; or (c) a
decrease in base salary at the rate in effect on the date of grant of the
Incentive Award, but only if the Participant terminates his or her employment
within ten (10) business days after the effective date of the decrease. If the
Participant fails to terminate his or her employment within ten (10) business
</FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>days after the effective date
of a decrease, a termination shall not constitute termination of employment by
the Participant for Good Reason. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.10 </FONT></B><FONT face="Times New Roman" size=2>&#147;</FONT><B><U><FONT face="Times New Roman" size=2>Incentive Award</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means, individually or
collectively, the incentive awards made for a fiscal year or shorter period
pursuant to the Plan, which may be in the form of a cash bonus payable to a
Participant pursuant to the Plan. For avoidance of doubt, an Incentive Award may
take the form of an individual agreement or an incentive plan or program
established by the Committee from time to time pursuant to this Plan.
</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.11
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Participant</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means an Employee
selected by the Committee for participation in the Plan, and includes former
Employees who have certain post-termination rights pursuant to an Incentive
Award. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.12
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Performance-Based
Exception</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means the exception for performance-based
compensation from the tax deductibility limitations of Section 162(m) of the
Code. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.13
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Performance
Goal</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means one or more goals or measures established
by the Committee with a related Performance Target for a Performance Period;
provided that for an executive officer, the goals or measures shall be
established pursuant to Section 7.1 of the Plan.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.14
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Performance
Target</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means, with respect to a Performance Goal, the
target(s) established by the Committee for a Performance Period; provided that
for an executive officer, the target(s) shall be established pursuant to Section
7.1 of the Plan.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.15
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Performance
Period</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means the time period during which Performance
Targets must be achieved with respect to an Incentive Award. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.16
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Plan</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means the 2015 Zebra
Technologies Corporation Short-Term Incentive Plan.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.17
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Retirement</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> has the meaning, if any,
set forth in an Incentive Award. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.18
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Subsidiary</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means any corporation,
partnership, joint venture, affiliate, or other entity in which Zebra is at
least a majority-owner of all issued and outstanding equity interests or has a
controlling interest. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.19
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Zebra</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> has the meaning set
forth in Section 1.1. </FONT></P>
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<P align=center><B><FONT face="Times New Roman" size=2>Section
3<BR>Administration </FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>3.1 </FONT></B><B><U><FONT face="Times New Roman" size=2>Plan Administration and Committee
Membership</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>The Committee shall administer
the Plan. The Committee shall consist of not less than two members of the Board
who are both non-employee directors of Zebra within the meaning of Rule 16b-3 of
the Exchange Act, and outside directors, as defined in Treasury Regulations
&#167;1.162-27; </FONT><U><FONT face="Times New Roman" size=2>provided,
however</FONT></U><FONT face="Times New Roman" size=2>, that if at any time any
member of the Committee is not an outside director, the Committee may establish
a subcommittee consisting of all members who are outside directors for all
purposes of any Incentive Award to an executive officer, unless the Committee
determines that such an Award is not intended to qualify for the
Performance-Based Exception.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>3.2 </FONT></B><B><U><FONT face="Times New Roman" size=2>Authority of the Committee</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Except as limited by law or by the Certificate of Incorporation or
By-laws of Zebra, the Committee shall have full power to select Employees to
participate in the Plan, and to determine the terms and conditions of Incentive
Awards, including the form, amount and timing of each Incentive Award consistent
with the Plan. The Committee shall, subject to the terms of the Plan, construe
and interpret the Plan and any agreement or instrument entered into under the
Plan and the application thereof, establish, amend or waive rules and
regulations it deems necessary or desirable for the administration of the Plan
and may impose, incidental to the grant of an Incentive Award, conditions with
respect to the Incentive Award, such as limiting competitive employment or other
activities. All determinations and decisions made by the Committee and all
related orders and resolutions of the Board shall be final, conclusive and
binding on all persons, including Zebra, its stockholders, Employees,
Participants, and their estates and beneficiaries. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>To the extent permitted by
applicable law, the Committee may delegate some or all of its authority
hereunder to the Board or the Chief Executive Officer as the Committee deems
appropriate; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>however</FONT></U><FONT face="Times New Roman" size=2>, that the Committee may not (i) delegate its power and authority to the
Board or the Chief Executive Officer with regard to the grant of an Incentive
Award to an executive officer or who, in the Committee&#146;s judgment, is likely to
be an executive officer at any time during the period an Incentive Award to such
officer would be outstanding or (ii) delegate its power and authority to the
Chief Executive Officer with regard to the selection for participation in the
Plan of an officer or other person subject to Section 16 of the Exchange Act or
decisions concerning the timing, pricing or amount of an Incentive Award to such
an officer or other person.</FONT><B><FONT face="Times New Roman" size=2>
</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Section 4<BR>Maximum
Awards </FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>4.1 </FONT></B><B><U><FONT face="Times New Roman" size=2>Individual Participant
Limitations</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>The maximum aggregate cash payout
with respect to Incentive Awards granted in any one fiscal year that may be made
to any Participant shall be $8,000,000. </FONT><B><FONT face="Times New Roman" size=2></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Section
5<BR></FONT></B><B><FONT face="Times New Roman" size=2>Eligibility and
Participation </FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>5.1 </FONT></B><B><U><FONT face="Times New Roman" size=2>Eligibility</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Persons eligible to participate in the Plan are Employees (including
officers) of Zebra and its Subsidiaries, as determined by the Committee.
</FONT><B><FONT face="Times New Roman" size=2></FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>5.2 </FONT></B><B><U><FONT face="Times New Roman" size=2>Participation</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Subject to the provisions of the Plan, the Committee shall determine and
designate, from time to time, the Employees of Zebra and any Subsidiary to whom
Incentive Awards shall be granted. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>A-4 </FONT></P>
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<P align=center><B><FONT face="Times New Roman" size=2>Section
6<BR></FONT></B><B><FONT face="Times New Roman" size=2>Terms of Incentive
Awards</FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.1 </FONT></B><B><U><FONT face="Times New Roman" size=2>Grant of Incentive Awards</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Incentive Awards may be granted to one or more Participants upon such
terms and conditions and at any time and from time to time determined by the
Committee, in its sole discretion.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.2 </FONT></B><B><U><FONT face="Times New Roman" size=2>Performance Measures and Performance
Targets</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>The Committee shall establish the Performance
Goals and Performance Targets for the Company and the Participants, as
applicable, under each Incentive Award. The Committee may also determine the
extent to which each applicable Performance Goal shall be weighted with respect
a Participant and/or an Incentive Award. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.3 </FONT></B><B><U><FONT face="Times New Roman" size=2>Award Levels; Eligibility for
Payment</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>The Committee shall establish for each Participant
the amount payable with respect to each Incentive Award at specified levels of
performance, based on the Performance Targets for each Performance Period and
the weighting established for such criterion, if applicable. All such
determinations regarding the achievement of any Performance Targets shall be
made by the Committee. Except as otherwise determined by the Committee in its
discretion, in order to be eligible for payment in respect of an Incentive
Award, a Participant must be an Employee on the last day of the Performance
Period or such other date as determined by the Committee for which such
Incentive Award is earned.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.4 </FONT></B><B><U><FONT face="Times New Roman" size=2>Form of Payment</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Unless otherwise determined by the Committee and set forth in the
Incentive Award, all Incentive Awards shall be payable in cash in a lump sum
payment. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.5 </FONT></B><B><U><FONT face="Times New Roman" size=2>Timing of Payment</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Incentive Awards shall be paid promptly following the Committee&#146;s
determination of whether and the extent to which Performance Targets have been
achieved with respect to the Performance Period, but in no event will such
Incentive Awards be paid later than December 31 of the year following the
Performance Period in which such Incentive Awards are earned; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>however</FONT></U><FONT face="Times New Roman" size=2>, that in the case of a Participant whose
employment terminates on or before December 31 of a calendar year that falls
within a Performance Period, if the Committee determines that such Participant
shall be entitled to payment in respect of all or a portion of the Participant&#146;s
Incentive Award with respect to such Performance Period, then such payment shall
be made to such Participant not later than March 15 of the calendar year
following the year of termination. </FONT><FONT face="Times New Roman" size=2>Notwithstanding the foregoing provisions of this Section 6.5, the
Committee shall have the right to allow Participants to elect to defer the
payment of Incentive Awards subject to such terms and conditions as the
</FONT><FONT face="Times New Roman" size=2>Committee may determine;
</FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>however,</FONT></U><FONT face="Times New Roman" size=2> that each
Participant&#146;s election to defer the payment of an Incentive Award complies with
the terms of the applicable plan or program of Zebra or its Subsidiaries.
</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.6 </FONT></B><B><U><FONT face="Times New Roman" size=2>Termination of Employment</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>The Incentive Award shall set forth the extent to which the Participant
shall have the right to receive payment for Incentive Awards following
termination of the Participant&#146;s employment; </FONT><U><FONT face="Times New Roman" size=2>provided, however</FONT></U><FONT face="Times New Roman" size=2>, that with respect to Incentive Awards to
executive officers that are intended to qualify for the Performance-Based
Exception, such exceptions shall be limited to death, Disability or a Change in
Control. Such provisions need not be uniform and may reflect distinctions based
on the reasons for such termination, including, but not limited to, termination
for Cause or Good Reason, or reasons relating to the breach or threatened breach
of restrictive covenants. Subject to Section 8.5, in the event that an Incentive
Award or an employment agreement between Zebra or a Subsidiary and the
Participant does not set forth such provisions, the following provisions shall
apply:</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(a) </FONT><I><FONT face="Times New Roman" size=2>Retirement, Death or Disability</FONT></I><FONT face="Times New Roman" size=2>. In the event that a Participant&#146;s employment
with Zebra and/or its Subsidiaries is terminated during a Performance Period, or
prior to the date of the payment of the Incentive Award if so provided in the
Incentive Award, due to Retirement (except with respect to Incentive Awards to
executive officers that are intended to qualify for the Performance-Based
Exception), death or Disability, the Participant shall receive a prorated payout
of the Incentive Award.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(b) </FONT><I><FONT face="Times New Roman" size=2>Other Termination</FONT></I><FONT face="Times New Roman" size=2>. In the event that a Participant&#146;s employment
with Zebra and/or its Subsidiaries is terminated during a Performance Period for
any reason other than the reasons set forth in 6.6(a), or prior to the date of
the payment of the Incentive Award if so provided in the Incentive Award, the
Incentive Award shall be forfeited.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.7 </FONT></B><B><U><FONT face="Times New Roman" size=2>Tax Withholding</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Zebra shall have the power and the right to deduct or withhold, or
require a Participant to remit to Zebra, an amount sufficient to satisfy
federal, state, and local taxes, domestic or foreign, required by law or
regulation to be withheld with respect to any taxable event arising as a result
of the Plan. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>A-5</FONT></P>
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<P align=center><B><FONT face="Times New Roman" size=2>Section 7<BR>Performance
Goals</FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>7.1 </FONT></B><B><U><FONT face="Times New Roman" size=2>Performance Goals</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Unless and until the Committee proposes for stockholder vote and
stockholders approve a change in the general Performance Goals set forth in this
Section 7.1, the attainment of which may determine the degree of payout and/or
vesting with respect to Incentive Awards to executive officers that are intended
to qualify for the Performance-Based Exception, the Performance Goals and
Performance Targets to be used for purposes of such grants shall be established
by the Committee in writing, shall be objectively measurable and shall be stated
in terms of the attainment of specified levels of or percentage changes in any
one or more of the following measurements: revenue; primary or fully-diluted
earnings per share; earnings before interest, taxes, depreciation, and/or
amortization; adjusted earnings before interest, taxes, depreciation, and/or
amortization; pretax income; adjusted pretax income; cash flows from operations;
total cash flows; bookings; return on equity; return on invested capital; return
on assets; net operating profits after taxes; economic value added; total
stockholder return or return on sales; or any individual Performance Goal which
is measured solely in terms of quantitative targets related to Zebra or Zebra&#146;s
business; or any combination thereof. In addition, Performance Goals and
Performance Targets may be based on one or more business criteria, one or more
business units or divisions of Zebra or the applicable sector, or Zebra as a
whole, and if so desired by the Committee, by comparison with a peer group of
companies. A Performance Target need not be based upon an increase or positive
result under a particular business criterion and could include, for example,
maintaining the status quo or limiting economic losses (measured, in each case,
by reference to specific business criteria). The Performance Targets for any
Performance Period may be measured on an absolute basis or in relation to a peer
group or an index. </FONT><B><FONT face="Times New Roman" size=2></FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>In the event that applicable
tax and/or securities laws change to permit Committee sole discretion to alter
the governing Performance Goals and Performance Targets without obtaining
stockholder approval of such changes, the Committee shall have sole discretion
to make such changes without obtaining stockholder approval. Nothing contained
herein shall be construed to preclude the Committee from granting Incentive
Awards to executive officers that are not intended to qualify for the
Performance-Based Exception.</FONT><B><FONT face="Times New Roman" size=2>
</FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>7.2 </FONT></B><B><U><FONT face="Times New Roman" size=2>Timing of Establishment</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>For each Incentive Award intended to qualify for the Performance-Based
Exception, the Committee shall establish the applicable Performance Goal(s) and
Performance Target(s) for that Incentive Award no later than the latest date
that the Committee may establish such goals and targets without jeopardizing the
ability of the Incentive Award to qualify for the Performance-Based
Exception.</FONT><B><FONT face="Times New Roman" size=2> </FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>7.3 </FONT></B><B><U><FONT face="Times New Roman" size=2>Determination of Payout</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>The degree of payout and/or vesting of such Incentive Awards intended to
qualify for the Performance-Based Exception shall be determined based upon the
written certification of the Committee as to the extent to which the Performance
Targets and any other material terms and conditions precedent to such payment
and/or vesting have been satisfied. The Committee shall have the sole discretion
to adjust the determinations of the degree of attainment of the Performance
Targets; </FONT><U><FONT face="Times New Roman" size=2>provided,
however</FONT></U><FONT face="Times New Roman" size=2>, that the Performance
Targets applicable to Incentive Awards which are intended to qualify for the
Performance-Based Exception, and which are held by executive officers, may not
be adjusted so as to increase the payment under the Incentive Award (the
Committee shall retain the sole discretion to adjust such Performance Targets
upward, or to otherwise reduce the amount of the payment and/or vesting of the
Incentive Award relative to the Performance Targets). </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>A-6</FONT></P>
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<P align=center><B><FONT face="Times New Roman" size=2>Section 8<BR>General
</FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.1 </FONT></B><B><U><FONT face="Times New Roman" size=2>Beneficiary Designation</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>If permitted by Zebra, each Participant under the Plan may, from time to
time, name any beneficiary or beneficiaries (who may be named contingently or
successively) to whom any benefit under the Plan is to be paid in case of his or
her death before he or she receives any or all of such benefit. Each such
designation shall revoke all prior designations by the same Participant, shall
be in a form prescribed by Zebra, and will be effective only when filed by the
Participant in writing with Zebra&#146;s Human Resources Department during the
Participant&#146;s lifetime. The spouse of a married Participant domiciled in a
community property jurisdiction shall join in any designation of a beneficiary
other than such spouse. If a Participant fails to designate a beneficiary, or if
all designated beneficiaries of a Participant predecease the Participant, then
the Incentive Award, if any, shall be paid to the Participant&#146;s estate. In the
absence of any such designation, benefits remaining unpaid at the Participant&#146;s
death shall be paid to the Participant&#146;s estate. </FONT><B><FONT face="Times New Roman" size=2></FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.2 </FONT></B><B><U><FONT face="Times New Roman" size=2>Deferrals; Compliance with Section
409A</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>A Participant may elect by written notice
delivered to the Zebra at the time and in the form required by the Zebra or the
Committee to defer payment of all or any portion of an Incentive Award the
Participant might earn with respect to a year, all in accordance with the
Section 409A of the Code and applicable regulations and on such terms and
conditions as the Committee may establish from time to time or as may be
provided in any employment agreement between Zebra and the Participant or in any
deferred compensation plan maintained by Zebra. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.3 </FONT></B><B><U><FONT face="Times New Roman" size=2>No Guarantee of Employment or Right to
Participate</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>Nothing in the Plan shall
interfere with or limit in any way the right of Zebra to terminate any
Participant&#146;s employment at any time, nor confer upon any Participant any right
to continue in the employ of Zebra or any Subsidiary. Temporary absence from
employment because of illness, vacation, approved leaves of absence, and
transfers of employment among Zebra and its Subsidiaries, shall not be
considered to terminate employment or to interrupt continuous employment. No
Employee shall have the right to be selected to receive an Incentive Award under
the Plan, or, having been so selected, to be selected to receive a future
Incentive Award. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.4 </FONT></B><B><U><FONT face="Times New Roman" size=2>Right of Setoff; Recoupment</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Zebra or any Subsidiary may, to the extent permitted by applicable
law</FONT><B><FONT face="Times New Roman" size=2> </FONT></B><FONT face="Times New Roman" size=2>and which would not trigger tax under Section 409A
of the Code, deduct from and set off against any amounts Zebra or Subsidiary may
owe to the Participant from time to time, including amounts payable in
connection with any Incentive Award, owed as wages, fringe benefits, or other
compensation owed to the Participant, such amounts as may be owed by the
Participant to Zebra, although the Participant shall remain liable for any part
of the Participant&#146;s payment obligation not satisfied through such deduction and
setoff. By accepting any Incentive Award granted hereunder, the Participant
agrees to any deduction or setoff under this Section. Any Incentive Awards
granted under the Plan (including any amounts or benefits arising from such
Incentive Awards) shall be subject to any applicable &#147;clawback&#148; or other
recoupment policies that Zebra has in place from time to time. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.5 </FONT></B><B><U><FONT face="Times New Roman" size=2>Change in Control. </FONT></U></B><FONT face="Times New Roman" size=2>Except as provided in an Incentive Award and
absent any action taken by the Board or the Committee to continue the Plan for
the remainder of an outstanding Performance Period in which a Change in Control
occurs, in the event of a Change in Control, each Participant subject to an
outstanding Incentive Award shall receive a prorated payment of the target
payout under the Incentive Award. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.6 </FONT></B><B><U><FONT face="Times New Roman" size=2>Amendment, Modification, and
Termination</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>The Board may amend, suspend or
terminate the Plan or the Committee&#146;s authority to grant Incentive Awards
without the consent of stockholders or Participants; </FONT><U><FONT face="Times New Roman" size=2>provided, however</FONT></U><FONT face="Times New Roman" size=2>, that any amendment to the Plan shall be
submitted to Zebra&#146;s stockholders for approval not later than the earliest
annual meeting for which the record date is after the date of such Board action
if such stockholder approval is required by any federal or state law or
regulation or the rules of any stock exchange on which the shares of Class A
Common Stock of Zebra may then be listed or quoted and the Board may otherwise,
in its sole discretion, determine to submit other amendments to the Plan to
stockholders for approval; and </FONT><U><FONT face="Times New Roman" size=2>provided further</FONT></U><FONT face="Times New Roman" size=2>, that,
without the consent of an affected Participant, no Board or Committee action may
materially and adversely affect the rights of such Participant under any
outstanding Incentive Award, unless such action is determined by the Board or
Committee in good faith to be necessary to comply with any applicable law,
regulation or rule (including Section 409A of the Code). Subject to the
preceding sentence, the Committee may waive or modify any term of an Award to
the extent that the terms of the Award Agreement, taking the waiver or
modification into account, would have been permissible if included in the
original Award Agreement, but shall have no authority to waive or modify any
other </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>A-7 </FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>Incentive Award term after the
Incentive Award has been granted to the extent that the waived or modified term
was mandatory under the Plan. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.7 </FONT></B><B><U><FONT face="Times New Roman" size=2>Unfunded Plan</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>The Plan is intended to constitute an &#147;unfunded&#148; plan for incentive and
deferred compensation. With respect to any payments not yet made to a
Participant pursuant to an Incentive Award, nothing contained in the Plan or any
Incentive Award shall give any such Participant any rights that are greater than
those of a general creditor of Zebra; </FONT><U><FONT face="Times New Roman" size=2>provided, however</FONT></U><FONT face="Times New Roman" size=2>, that
the Committee may authorize the creation of trusts and deposit therein cash or
other property, or make other arrangements to meet Zebra&#146;s obligations under the
Plan. Such trusts or other arrangements shall be consistent with the &#147;unfunded&#148;
status of the Plan unless the Committee otherwise determines with the consent of
each affected Participant.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.8 </FONT></B><B><U><FONT face="Times New Roman" size=2>Compliance with Code Section
162(m)</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Zebra intends that Incentive Awards granted to
executive officers who constitute covered employees under Section 162(m) of the
Code shall satisfy the requirements of the Performance-Based Exception, unless
otherwise determined by the Committee when the Incentive Award is granted.
Accordingly, the Plan and such Incentive Awards shall be interpreted in a manner
consistent with Section 162(m) of the Code and regulations thereunder with
respect to an executive officer. If any provision of the Plan or any Incentive
Award designated as intended to satisfy the Performance-Based Exception does not
comply or is inconsistent with the requirements of Section 162(m) of the Code or
regulations thereunder, such provision shall be construed or deemed amended to
the extent necessary to conform to such requirements, and no provision shall be
deemed to confer upon the Committee or any other person sole discretion to
increase the amount of compensation otherwise payable in connection with any
such Incentive Award upon attainment of the applicable Performance Targets.
Payment of any amount that Zebra reasonably determines would not be deductible
by reason of Section 162(m) of the Code shall be deferred until the earlier of
the earliest date on which Zebra reasonably determines that the deductibility of
the payment will not be so limited, or the year following the termination of
employment. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.9 </FONT></B><B><U><FONT face="Times New Roman" size=2>Awards to Participants Outside the United
States</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>The Committee may modify the terms of any
Incentive Award made to or held by a Participant who is then resident or
primarily employed outside of the United States in any manner deemed by the
Committee to be necessary or appropriate in order that such Incentive Award
shall conform to laws, regulations, and customs of the country in which the
Participant is then resident or primarily employed, or so that the value and
other benefits of the Incentive Award to the Participant, as affected by foreign
tax laws and other restrictions, applicable as a result of the Participant&#146;s
residence or employment abroad shall be comparable to the value of such an
Incentive Award to a Participant who is resident or primarily employed in the
United States. An Incentive Award may be modified under this Section in a manner
that is inconsistent with the express terms of the Plan, so long as such
modifications will not contravene any applicable law or regulation or result in
actual liability under Section 16(b) of the Exchange Act for the Participant
whose Incentive Award is modified. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.10 </FONT></B><B><U><FONT face="Times New Roman" size=2>Successors</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>All obligations of Zebra under the Plan with respect to Incentive Awards
shall be binding on any successor to Zebra, whether the existence of such
successor is the result of a direct or indirect merger, consolidation, purchase
of all or substantially all of the business and/or assets of Zebra or otherwise.
</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.11 </FONT></B><B><U><FONT face="Times New Roman" size=2>Governing Law; Venue</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>To the extent not preempted by federal law, the Plan, and all agreements
hereunder, shall be construed in accordance with and governed by the laws of the
State of Delaware without giving effect to principles of conflicts of laws. Any
dispute, controversy or claim arising out of or relating to the Plan or any
award under the Plan shall be brought only in a court of competent jurisdiction
in the United States District Court for the Northern District of Illinois, and
no other court, agency or tribunal shall have jurisdiction to resolve any such
dispute, controversy or claim. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.12 </FONT></B><B><U><FONT face="Times New Roman" size=2>Incapacity of Recipient</FONT></U></B><FONT face="Times New Roman" size=2>. If the Committee is served with a court order
holding that a person entitled to a distribution under the Plan is incapable of
personally receiving and giving a valid receipt for such distribution, the
Committee shall postpone payment until such time as a claim therefore shall have
been made by a duly appointed guardian or other legal representative of such
person. The Committee is under no obligation to inquire or investigate as to the
competency of any person entitled to a distribution. Any payment to an appointed
guardian or other legal representative under this Section shall be a payment for
the account of the incapacitated person and a complete discharge of any
liability of Zebra and the Plan therefor. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>A-8 </FONT></P>
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<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.13 </FONT></B><B><FONT face="Times New Roman" size=2><U>Other Plans</U>. </FONT></B><FONT face="Times New Roman" size=2>Nothing contained in the Plan shall prevent the
Committee or Zebra from adopting other non-stockholder approved plans, policies
and arrangements for granting incentives and other compensation to employees of
the Company and its Subsidiaries or adopting or continuing in effect other or
additional compensation arrangements, and such arrangements may be either
generally applicable or applicable only in specific cases. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>A-9 </FONT></P>
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<P align=right><B><U><FONT face="Times New Roman" size=2><A NAME="a_023"></A>Exhibit
B</FONT></U></B><B><FONT face="Times New Roman" size=2> </FONT></B></P>
<P STYLE="text-align: center"><B><FONT face="Times New Roman" size=2>Zebra Technologies
Corporation<BR>2015 Long-Term Incentive Plan</FONT></B></P>
<P STYLE="text-align: center"><B><FONT face="Times New Roman" size=2>Section 1<BR>Establishment
and Purpose </FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>1.1.</FONT></B><FONT face="Times New Roman" size=2> </FONT><B><U><FONT face="Times New Roman" size=2>Establishment</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>This Plan shall be submitted to
the stockholders of Zebra Technologies Corporation, a Delaware corporation
(&#147;</FONT><U><FONT face="Times New Roman" size=2>Zebra</FONT></U><FONT face="Times New Roman" size=2>&#148;) for approval at the 2015 annual meeting of
stockholders and, if approved by majority of the votes cast affirmatively or
negatively by the holders of the shares of Class A Common Stock, par value $0.01
per share, of Zebra (&#147;</FONT><U><FONT face="Times New Roman" size=2>Common
Stock</FONT></U><FONT face="Times New Roman" size=2>&#148;) present in person or
represented by proxy at such meeting, shall become effective on the date of such
approval. The Plan shall terminate on the tenth anniversary of the effective
date of the Plan, unless terminated earlier by the Board. Termination of the
Plan shall not affect the terms or conditions of any Award granted prior to
termination. In the event that the Plan is not approved by the stockholders of
Zebra, the Plan shall be null and void. The Plan supersedes and replaces the
Zebra Technologies Corporation 2011 Long-Term Compensation Plan (the
&#147;</FONT><U><FONT face="Times New Roman" size=2>Prior Plan</FONT></U><FONT face="Times New Roman" size=2>&#148;), except that the Prior Plan shall remain in
effect with respect to outstanding awards under the Prior Plan until such awards
have been exercised, forfeited, canceled, expired or otherwise terminated in
accordance with their terms. </FONT><B><FONT face="Times New Roman" size=2></FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>1.2</FONT></B><FONT face="Times New Roman" size=2>. </FONT><B><U><FONT face="Times New Roman" size=2>Purposes</FONT></U></B><FONT face="Times New Roman" size=2>. The purposes
of the Plan are to align participants&#146; long-term compensation with the interests
of Zebra and its stockholders and to attract, retain, motivate and reward key
personnel. To accomplish the foregoing, the Plan provides that Zebra may grant
Incentive Stock Options, Nonqualified Stock Options, Stock Appreciation Rights,
Restricted Stock, Restricted Stock Units, Performance Awards, Performance Shares
or Performance Units. </FONT></P>
<P STYLE="text-align: center"><B><FONT face="Times New Roman" size=2>Section 2<BR>Definitions
</FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.1.</FONT></B><FONT face="Times New Roman" size=2> &#147;</FONT><B><U><FONT face="Times New Roman" size=2>Award</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means, individually or
collectively, a grant under the Plan of Incentive Stock Options, Nonqualified
Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock
Units, Performance Awards, Performance Shares or Performance Units. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.2.</FONT></B><FONT face="Times New Roman" size=2> </FONT><B><FONT face="Times New Roman" size=2>&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Award
Agreement</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means either: (a) a written or electronic
agreement between Zebra and a Participant that sets forth the terms and
conditions of an Award, and is a condition to the grant of an Award or (b) a
written or electronic statement issued by Zebra describing the terms and
conditions of an Award. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.3.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Board</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means the Board of
Directors of Zebra. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.4.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Cause</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means, unless otherwise
provided for in the Award Agreement, as determined by Zebra, in its sole
discretion, termination of the Participant&#146;s employment with Zebra and its
Subsidiaries because of the Participant&#146;s: (a) material breach of an Award
Agreement or of any other agreement to which the Participant and Zebra or a
Subsidiary are parties, as determined by Zebra in good faith; (b) material
violation of Zebra policy, regardless of whether within or outside of his or her
authority; (c) willful or intentional misconduct, gross negligence, or
dishonest, fraudulent, or unethical behavior, or other conduct involving serious
moral turpitude, in the performance of Participant&#146;s duties; (d) dishonesty,
theft or conviction of any crime or offense involving money or property of Zebra
or any Subsidiary; (e) breach of any fiduciary duty owing to Zebra or any
Subsidiary; (f) unauthorized disclosure or dissemination of confidential
information; or (g) conduct that is, or could reasonably be expected to be,
materially harmful to Zebra or any of its Subsidiaries, as determined by Zebra
in good faith. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.5.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Change in
Control</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means, unless the Committee provides otherwise in
the Award Agreement, the occurrence of any of the following events:</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(a) the acquisition by any
individual, entity or group (a &#147;</FONT><U><FONT face="Times New Roman" size=2>Person</FONT></U><FONT face="Times New Roman" size=2>&#148;), including any
&#147;person&#148; within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act,
of beneficial ownership within the meaning of Rule 13d-3 promulgated under the
Exchange Act, of 35% or more of either (i) the then outstanding shares of Common
Stock (the &#147;</FONT><U><FONT face="Times New Roman" size=2>Outstanding Common
Stock</FONT></U><FONT face="Times New Roman" size=2>&#148;) or (ii) the combined
voting power of the then outstanding</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>B-1 </FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>securities of Zebra entitled
to vote generally in the election of directors (the &#147;</FONT><U><FONT face="Times New Roman" size=2>Outstanding Voting Securities</FONT></U><FONT face="Times New Roman" size=2>&#148;); </FONT><U><FONT face="Times New Roman" size=2>excluding</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>however</FONT></U><FONT face="Times New Roman" size=2>, the following: (A) any acquisition directly from Zebra (excluding any
acquisition resulting from the exercise of an exercise, conversion or exchange
privilege unless the security being so exercised, converted or exchanged was
acquired directly from Zebra), (B) any acquisition by Zebra, (C) any acquisition
by an employee benefit plan (or related trust) sponsored or maintained by Zebra
or any corporation controlled by Zebra or (D) any acquisition by any corporation
pursuant to a transaction which complies with clauses (i), (ii) and (iii) of
subsection (c) of this Section 2.5; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>further</FONT></U><FONT face="Times New Roman" size=2>, that for purposes of clause (B), if any Person (other than Zebra or any
employee benefit plan (or related trust) sponsored or maintained by Zebra or any
corporation controlled by Zebra) shall become the beneficial owner of 35% or
more of the Outstanding Common Stock or 35% or more of the Outstanding Voting
Securities by reason of an acquisition by Zebra, and such Person shall, after
such acquisition by Zebra, become the beneficial owner of any additional shares
of the Outstanding Common Stock or any additional Outstanding Voting Securities
and such beneficial ownership is publicly announced, such additional beneficial
ownership shall constitute a Change in Control;</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(b) individuals who, as of the
date hereof, constitute the Board (the &#147;</FONT><U><FONT face="Times New Roman" size=2>Incumbent Board</FONT></U><FONT face="Times New Roman" size=2>&#148;) cease
for any reason to constitute at least a majority of such Board; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, that any individual who becomes a director of Zebra subsequent to the
date hereof whose election, or nomination for election by Zebra&#146;s stockholders,
was approved by the vote of at least two-thirds of the directors then comprising
the Incumbent Board shall be deemed a member of the Incumbent Board; and
</FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>further</FONT></U><FONT face="Times New Roman" size=2>, that any
individual who was initially elected as a director of Zebra as a result of an
actual or threatened solicitation by a Person other than the Board for the
purpose of opposing a solicitation by any other Person with respect to the
election or removal of directors, or any other actual or threatened solicitation
of proxies or consents by or on behalf of any Person other than the Board shall
not be deemed a member of the Incumbent Board or who was initially elected as a
director of Zebra and whose election was opposed by the Incumbent
Board;</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(c) the consummation of a
reorganization, merger or consolidation or sale or other disposition of all or
substantially all of the assets of Zebra (a &#147;</FONT><U><FONT face="Times New Roman" size=2>Corporate Transaction</FONT></U><FONT face="Times New Roman" size=2>&#148;); </FONT><U><FONT face="Times New Roman" size=2>excluding</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>however</FONT></U><FONT face="Times New Roman" size=2>, a Corporate Transaction pursuant to which (i) all or substantially all
of the individuals or entities who are the beneficial owners, respectively, of
the Outstanding Common Stock and the Outstanding Voting Securities immediately
prior to such Corporate Transaction will beneficially own, directly or
indirectly, more than 50% of, respectively, the outstanding shares of common
stock, and the combined voting power of the outstanding securities entitled to
vote generally in the election of directors, as the case may be, of the entity
resulting from such Corporate Transaction (including, without limitation, an
entity which as a result of such transaction owns Zebra or all or substantially
all of Zebra&#146;s assets either directly or indirectly) in substantially the same
proportions relative to each other as their ownership, immediately prior to such
Corporate Transaction, of the Outstanding Common Stock and the Outstanding
Voting Securities, as the case may be, (ii) no Person (other than: Zebra; any
employee benefit plan (or related trust) sponsored or maintained by Zebra or any
entity controlled by Zebra; and any Person which beneficially owned, immediately
prior to such Corporate Transaction, directly or indirectly, 35% or more of the
Outstanding Common Stock or the Outstanding Voting Securities, as the case may
be) will beneficially own, directly or indirectly, 35% or more of, respectively,
the outstanding shares of common stock of the entity resulting from such
Corporate Transaction or the combined voting power of the outstanding securities
of such corporation entitled to vote generally in the election of directors and
(iii) individuals who were members of the Incumbent Board will constitute at
least a majority of the members of the board of directors (or similar body) of
the entity resulting from such Corporate Transaction; or </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(d) the consummation of a plan
of complete liquidation or dissolution of Zebra. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.6.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Code</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means the Internal
Revenue Code of 1986, as amended.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.7.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Common
Stock</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> has the meaning set forth in Section 1.1.
</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.8.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Committee</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means the Compensation
Committee of the Board. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.9.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Director</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means any individual who
is a member of the Board. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.10.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Disability</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means, unless otherwise
provided for in the Award Agreement, (i) in the case of an Employee, the
Employee qualifying for long-term disability benefits under any long-term
disability program sponsored by Zebra or a Subsidiary in which the Employee
participates and (ii) in the case of a Director or </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>B-2 </FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>consultant, the inability of
the Director or consultant to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment that can be
expected to result in death, or which has lasted or can be expected to last for
a continuous period of not less than 12 months, as determined by Zebra, based
upon medical evidence.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.11.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Employee</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means any employee of
Zebra or any Subsidiary. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.12.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Exchange
Act</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means the Securities Exchange Act of 1934, as
amended. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.13.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Fair Market
Value</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means the closing price of the Shares on a
national securities exchange on the date as of which such value is being
determined or, if there shall be no reported transactions for such date, on the
next preceding date for which transactions were reported; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>however</FONT></U><FONT face="Times New Roman" size=2>, that Fair Market Value may be determined by
Zebra by whatever means or method as Zebra, in the good faith exercise of its
discretion, shall at such time deem appropriate; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>further</FONT></U><FONT face="Times New Roman" size=2>, that no method of determining Fair Market Value
will be used with respect to an Option or SAR if such method would cause the
Option or SAR to constitute a form of nonqualified deferred compensation subject
to Section 409A of the Code.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.14.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Good
Reason</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means, unless otherwise provided for in the Award
Agreement, termination of the Participant&#146;s employment with Zebra and its
Subsidiaries because of resignation by the Participant for any of the following
reasons: (a) a demotion of the Participant to a lesser position (including a
material diminution in the status of the Participant&#146;s responsibilities,
authorities, powers or duties taken as a whole) or assignment to the Participant
of any duties materially inconsistent with the status and responsibilities of
the Participant&#146;s position; (b) a material breach of any provision of the
Participant&#146;s employment agreement, if any, by Zebra or its Subsidiaries and
Zebra&#146;s failure to cure such breach within fifteen (15) business days after
receipt of written notice from the Participant to the Chief Administrative
Officer or other person responsible for Human Resources specifying in reasonable
detail the nature of the breach; or (c) a decrease in base salary at the rate in
effect on the date of grant of the Award, but only if the Participant terminates
his or her employment within ten (10) business days after the effective date of
the decrease. If the Participant fails to terminate his or her employment within
ten (10) business days after the effective date of a decrease, a termination
shall not constitute termination of employment by the Participant for Good
Reason. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.15.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Incentive Stock
Option</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> or </FONT><B><FONT face="Times New Roman" size=2>&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>ISO</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means a right to
purchase Shares pursuant to terms and conditions that provide that such right
will be treated as an incentive stock option within the meaning of Section 422
of the Code. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.16.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Incumbent
Board</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> has the meaning set forth in Section 2.5(b).
</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.17. </FONT></B><FONT face="Times New Roman" size=2>&#147;</FONT><B><U><FONT face="Times New Roman" size=2>Non-Tandem SAR</FONT></U></B><FONT face="Times New Roman" size=2>&#148; means
an SAR which is not granted in tandem with, or by reference to, an Option, which
entitles the holder thereof to receive, upon exercise, Shares (which may be
Restricted Stock or RSUs), cash or a combination thereof with an aggregate value
equal to the excess of the Fair Market Value of one Share on the date of
exercise over the base price of such SAR, multiplied by the number of such SARs
which are exercised.</FONT><B><FONT face="Times New Roman" size=2>
</FONT></B><FONT face="Times New Roman" size=2></FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.18.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Nonqualified Stock
Option</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> or </FONT><B><FONT face="Times New Roman" size=2>&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>NQSO</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means a right to
purchase Shares which is not an Incentive Stock Option. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.19.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Option</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means an Incentive Stock
Option or a Nonqualified Stock Option. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.20.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Option
Price</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means the per share purchase price of a Share
pursuant to an Option. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.21.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Outstanding Common
Stock</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> has the meaning set forth in Section 2.5(a).
</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.22.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Outstanding Voting
Securities</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> has the meaning set
forth in Section 2.5(a). </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.23.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Participant</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means an Employee,
Director or consultant who holds an outstanding Award under the Plan, and
includes former Employees, Directors or consultants who have certain
post-termination rights pursuant to an Award. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>B-3</FONT></P>
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<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.24.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Performance
Award</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148; </FONT></B><FONT face="Times New Roman" size=2>means a right, contingent upon the attainment of
Performance Target(s) with respect to one or more Performance Goals within a
Performance Period, to receive an amount in cash that has an initial value
specified in the Award Agreement.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.25.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Performance
Goal</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means one or more goals or measures established
by the Committee with a related Performance Target for a Performance Period;
</FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, that for an executive officer, the goals or
measures shall be established pursuant to Section 9.1 of the Plan. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.26.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Performance
Period</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means the time period during which Performance
Targets must be achieved with respect to an Award. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.27.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Performance
Target</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means, with respect to a Performance Goal, the
target(s) established by the Committee for a Performance Period; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, that for an executive officer, the target(s) shall be established
pursuant to Section 9.1 of the Plan.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.28.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Performance-Based
Exception</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means the exception for performance-based
compensation from the tax deductibility limitations of Section 162(m) of the
Code. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.29.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Performance
Share</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means a right, contingent upon the attainment of
Performance Target(s) with respect to one or more Performance Goals within a
Performance Period, to receive one Share (which may be Restricted Stock or
RSUs), or in lieu of all or a portion thereof, the Fair Market Value of a Share
in cash.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.30.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Performance
Unit</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means a right, contingent upon the attainment of
Performance Target(s) with respect to one or more Performance Goals within a
Performance Period, to receive an amount that has an initial value equal to the
Fair Market Value of a Share on the grant date, which amount may be paid in a
Share (which may be Restricted Stock or RSUs), or in lieu of all or a portion
thereof, the Fair Market Value of a Share in cash. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.31. </FONT></B><FONT face="Times New Roman" size=2>&#147;</FONT><B><U><FONT face="Times New Roman" size=2>Period of Restriction</FONT></U></B><FONT face="Times New Roman" size=2>&#148;
means the period during which the Shares of Restricted Stock or RSUs subject to
an Award may not be sold, transferred, assigned, pledged, hypothecated or
otherwise encumbered or disposed of, as specified in the applicable Award
Agreement. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.32.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Person</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> has the meaning set
forth in Section 2.5(a). </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.33.  &#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Plan</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B> <FONT face="Times New Roman" size=2>
means the 2015 Zebra  Technologies Corporation Long-Term Incentive Plan. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.34.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Prior
Plan</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> has the meaning set forth in Section
1.1.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.35.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Retirement</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> has the meaning, if any,
set forth in an Award Agreement. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.36.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Restricted
Stock</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means issued and outstanding Shares that are
subject to a Period of Restriction.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.37.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Restricted Stock
Unit</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148; or
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>RSU</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2>
means a right to receive one Share, or in lieu of all or a portion thereof, the
Fair Market Value of a Share in cash, that is subject to a Period of
Restriction.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.38.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Share</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148; or
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Shares</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means shares of Class A
common stock of Zebra, par value $.01. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.39.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Stock Appreciation
Right</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148; or
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>SAR</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2>
means a Tandem SAR or a Non-Tandem SAR. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.40.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Subsidiary</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> means any corporation,
partnership, joint venture, affiliate, or other entity in which Zebra is at
least a majority-owner of all issued and outstanding equity interests or has a
controlling interest. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.41.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Tandem
SAR</FONT></U></B><FONT face="Times New Roman" size=2>&#148; means an SAR that is
granted in tandem with, or by reference to, an Option, which entitles the holder
thereof to receive, upon exercise of such SAR and surrender for cancellation of
all or a portion of such Option, Shares (which may be Restricted Stock or RSUs),
cash or a combination thereof with an aggregate value equal to the excess of the
Fair Market Value of one Share on the date of exercise over the base </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>B-4 </FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>price of such SAR, multiplied
by the number of Shares subject to such option, or portion thereof, which is
surrendered.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>2.42.
&#147;</FONT></B><B><U><FONT face="Times New Roman" size=2>Zebra</FONT></U></B><B><FONT face="Times New Roman" size=2>&#148;</FONT></B><FONT face="Times New Roman" size=2> has the meaning set
forth in Section 1.1. </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>Section 3
<BR>Administration </FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>3.1. </FONT></B><B><U><FONT face="Times New Roman" size=2>Plan Administration and Committee
Membership</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>The Committee shall administer
the Plan. The Committee shall consist of not less than two Directors who are
both non-employee directors of Zebra within the meaning of Rule 16b-3 of the
Exchange Act, and outside directors, as defined in Treasury Regulations &#167;1.162-27; </FONT><U><FONT face="Times New Roman" size=2>provided,
however</FONT></U><FONT face="Times New Roman" size=2>, that if at any time any
member of the Committee is not an outside director, the Committee may establish
a subcommittee, consisting of all members who are outside directors, for all
purposes of any Award to an executive officer, unless the Committee determines
that such an Award is not intended to qualify for the Performance-Based
Exception. The foregoing notwithstanding, the Board shall perform the functions
of the Committee for purposes of granting Awards to non-employee directors and
for approving, after receiving the recommendation of the Committee, awards to
the Chief Executive Officer. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>3.2. </FONT></B><B><U><FONT face="Times New Roman" size=2>Authority of the Committee</FONT></U></B><FONT face="Times New Roman" size=2>. Except as limited by law or by the Certificate
of Incorporation or By-laws of Zebra, the Committee shall have full power to
select Employees, Directors, and consultants to participate in the Plan;
determine the sizes and types of Awards; determine the terms and conditions of
Awards, including the form, amount and timing of each Award and, if applicable,
the number of Shares, Options, SARs, Restricted Stock, RSUs, Performance Units
and Performance Shares subject to an Award, the exercise price or base price
associated with the Award, the time and conditions of vesting, exercise or
settlement of the Award and all other terms and conditions of the Award,
including, without limitation, the form of the Award Agreement; construe and
interpret the Plan and any agreement or instrument entered into under the Plan;
establish, amend, or waive rules and regulations for the Plan&#146;s administration;
and amend the terms and conditions of any outstanding Award. The Committee
shall, subject to the terms of the Plan, interpret the Plan and the application
thereof, establish rules and regulations it deems necessary or desirable for the
administration of the Plan and may impose, incidental to the grant of an Award,
conditions with respect to the Award, such as limiting competitive employment or
other activities. All determinations and decisions made by the Committee and all
related orders and resolutions of the Board shall be final, conclusive and
binding on all persons, including Zebra, its stockholders, Employees,
Participants, and their estates and beneficiaries.</FONT><B><FONT face="Times New Roman" size=2> </FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>To the extent permitted by
applicable law, including, without limitation, Section 157(c) of the General
Corporation Law of the State of Delaware, the Committee may delegate some or all
of its authority hereunder to the Board or the Chief Executive Officer as the
Committee deems appropriate; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>however</FONT></U><FONT face="Times New Roman" size=2>, that the Committee may not delegate its power and authority to the
Board or the Chief Executive Officer with regard to an executive officer or who,
in the Committee&#146;s judgment, is likely to be an executive officer at any time
during the period an Award to such officer would be outstanding or (ii) delegate
its power and authority to the Chief Executive Officer with regard to the
selection for participation in the Plan of an officer or other person subject to
Section 16 of the Exchange Act or decisions concerning the timing, pricing or
amount of an Award to such an officer or other person. </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>Section
4<BR></FONT></B><B><FONT face="Times New Roman" size=2>Shares Subject to the
Plan and Maximum Awards </FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>4.1. </FONT></B><B><U><FONT face="Times New Roman" size=2>Shares Available for Awards</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2></FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(a) The Shares available for
Awards may be either authorized and unissued Shares or Shares issued and
re-acquired by Zebra. The aggregate number of Shares that may be issued or used
for reference purposes under the Plan or with respect to which Awards may be
granted shall not exceed 4,000,000 Shares, subject to adjustment as provided in
Section 4.3.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(b) In the case of any Award
granted in substitution for an award of a company or business acquired by Zebra
or a Subsidiary, Shares issued or issuable in connection with such substitute
Award shall not be counted against the number of Shares reserved under the Plan,
but shall be available under the Plan by virtue of Zebra&#146;s assumption of the
plan or arrangement of the acquired company or business. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>B-5</FONT></P>
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<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>4.2. </FONT></B><B><U><FONT face="Times New Roman" size=2>Individual Participant
Limitations</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>Unless and until the Committee
determines that an Award to an executive officer is not intended to qualify for
the Performance-Based Exception, the following rules shall apply to grants of
such Awards under the Plan: </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(a) Subject to adjustment as
provided in Section 4.3, the maximum aggregate number of Shares (including
Options, SARs, Restricted Stock, RSUs, Performance Units and Performance Shares
to be paid out in Shares) that may be granted in any one fiscal year to a
Participant shall be 500,000. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(b) The maximum aggregate cash
payout (including Performance Awards, Performance Units and Performance Shares
paid out in cash) with respect to Awards granted in any one fiscal year that may
be made to any Participant shall be $8,000,000. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>4.3. </FONT></B><B><U><FONT face="Times New Roman" size=2>Adjustments in Authorized
Shares</FONT></U></B><FONT face="Times New Roman" size=2>. In the event of any
stock split, stock dividend, recapitalization, reorganization, merger,
consolidation, combination, exchange of shares, liquidation, spin-off or other
similar change in capitalization or event, or any distribution to holders of
Shares other than a regular cash dividend, the number and class of securities
available under the Plan, the maximum number of securities available for Awards,
the number and class of securities subject to each outstanding Award and, if
applicable, the purchase price per security, the maximum number of securities
with respect to which Awards may be granted during any calendar year to any
person, the terms of each outstanding Award shall be appropriately adjusted by
the Committee, such adjustments to be made in the case of outstanding Options
and SARs without an increase in the aggregate purchase price or base price. The
decision of the Committee regarding any such adjustment shall be final,
conclusive and binding. If any such adjustment would result in a fractional
security being (a) available under the Plan, such fractional security shall be
disregarded, or (b) subject to an award under the Plan, Zebra shall pay the
holder of such Award, in connection with the first vesting, exercise or
settlement of such Award in whole or in part occurring after such adjustment, an
amount in cash determined by multiplying (i) the fraction of such security
(rounded to the nearest hundredth) by (ii) the excess, if any, of (A) the Fair
Market Value on the vesting, exercise or settlement date over (B) the exercise
or base price, if any, of such Award.</FONT><B><FONT face="Times New Roman" size=2> </FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Section
5<BR></FONT></B><B><FONT face="Times New Roman" size=2>Eligibility and
Participation </FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>5.1. </FONT></B><B><U><FONT face="Times New Roman" size=2>Eligibility</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Persons eligible to participate in the Plan include current and future
Employees (including officers), Directors and consultants of Zebra and its
Subsidiaries, as determined by the Committee.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>5.2. </FONT></B><B><U><FONT face="Times New Roman" size=2>Participation</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Subject to the provisions of the Plan, the Committee shall determine and
designate, from time to time, the Employees, Directors and consultants of Zebra
and any Subsidiary to whom Awards shall be granted. </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>Section
6<BR></FONT></B><B><FONT face="Times New Roman" size=2>Stock Options and Stock
Appreciation Rights</FONT></B><FONT face="Times New Roman" size=2> </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.1. </FONT></B><B><U><FONT face="Times New Roman" size=2>Grants of Options and SARs</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Options and SARs may be granted to one or more Participants in such
number, upon such terms and conditions, and at any time and from time to time,
as determined by the Committee, in its sole discretion. Each Option, or portion
thereof, that is not an ISO shall be an NQSO. An ISO may not be granted to any
person who is not an employee of Zebra or any parent or subsidiary (as defined
in Section 424 of the Code). Each ISO shall be granted within ten years of the
date the Plan is adopted by the Board. To the extent that the aggregate Fair
Market Value (determined as of the date of grant) of Shares with respect to
which Options designated as ISOs are exercisable for the first time by a
Participant during any calendar year (under the Plan or any other plan of Zebra,
or any parent or subsidiary as defined in Section 424 of the Code) exceeds the
amount established by the Code, such Options shall constitute NQSOs. Non-Tandem
SARs, Tandem SARs, or any combination of these forms of SARs may be
granted.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.2. </FONT></B><B><U><FONT face="Times New Roman" size=2>Option Price and Base Price</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>The Award Agreement shall set forth the Option Price or base price for
each Option or SAR; </FONT><U><FONT face="Times New Roman" size=2>provided,</FONT></U><FONT face="Times New Roman" size=2> that the Option
Price shall not be less than 100% of the Fair Market Value on the grant date,
and which Option Price may not be subsequently changed by the Committee except
pursuant to Section 4.3. With respect to a Participant who owns, directly or
indirectly, more than 10% of the total combined voting power of all classes of
the stock of Zebra or any Subsidiary, the Option Price of Shares subject to an
ISO shall be at least 110% of the Fair Market Value of such Shares on the ISO&#146;s
grant date.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>B-6</FONT></P>
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<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.3. </FONT></B><B><U><FONT face="Times New Roman" size=2>Term</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Each Option or SAR
granted to a Participant shall expire at such time as set forth in the Award
Agreement, but in no event shall be exercisable later than the 10th anniversary
of the grant date. Notwithstanding the foregoing, with respect to ISOs, in the
case of a Participant who owns, directly or indirectly, more than 10% of the
total combined voting power of all classes of the stock of Zebra or any
Subsidiary, no such ISO shall be exercisable later than the fifth anniversary of
the grant date.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.4. </FONT></B><B><U><FONT face="Times New Roman" size=2>Exercise of Options and
SARs</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Options and SARs shall be exercisable, in whole or
in part, at such times and be subject to such restrictions and conditions as set
forth in the Award Agreement, which need not be the same for each Award or for
each Participant. Options and SARs shall be exercised by the delivery of a
written, electronic or other notice of exercise to Zebra, setting forth the
number of Shares with respect to which the Option or SAR is to be exercised,
accompanied in the case of Options by full payment for the Shares as set forth
in Section 6.7. The payment by Zebra to the Participant upon an SAR exercise may
be in cash, in Shares of equivalent value, or in some combination thereof, as
set forth in the Award Agreement. If an Award Agreement does not specify the
time or times at which the Option or SAR shall become exercisable, the Option or
SAR shall become exercisable by the Participant (i) to a maximum cumulative
extent of one-third of the Shares or SARs (rounded down to the nearest whole)
covered by the Option or SAR on the first anniversary of the grant date, and
(ii) to a maximum cumulative extent of two-thirds of the Shares or SARs (rounded
down to the nearest whole) covered by the Option or SAR on the second
anniversary of the grant date, and (iii) to a maximum cumulative extent of 100%
of the Shares or SARs covered by the Option or SAR on the third anniversary of
the grant date. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.5. </FONT></B><B><U><FONT face="Times New Roman" size=2>Exercise of Tandem SARs</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Tandem SARs may be exercised for all or part of the Shares subject to the
related Option upon the surrender of the right to exercise the equivalent
portion of the related Option. A Tandem SAR may be exercised only with respect
to the Shares for which its related Option is then exercisable. Notwithstanding
any other provision of the Plan to the contrary, with respect to a Tandem SAR
granted in connection with an ISO: (i) the Tandem SAR will expire no later than
the expiration of the underlying ISO; (ii) the value of the payout with respect
to the Tandem SAR may be for no more than one hundred percent (100%) of the
difference between the Option Price of the underlying ISO and the Fair Market
Value of the Shares subject to the underlying ISO at the time the Tandem SAR is
exercise; and (iii) the Tandem SAR may be exercised only when the Fair Market
Value of the Shares subject to the ISO exceeds the Option Price of the ISO.
</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.6. </FONT></B><B><U><FONT face="Times New Roman" size=2>Exercise of Non-Tandem SARs</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>SARs may be exercised upon the terms and conditions set forth in the
Award Agreement. Upon exercise, a Participant shall be entitled to receive
payment from Zebra in an amount determined by multiplying (a) the excess of the
Fair Market Value of a Share on the date of exercise over the base price by (b)
the number of Shares with respect to which the SAR is exercised. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.7. </FONT></B><B><U><FONT face="Times New Roman" size=2>Option Price Payment</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>The Option Price upon exercise of any Option shall be payable to Zebra in
full either: (a) in cash, (b) by tendering previously acquired Shares having an
aggregate Fair Market Value at the time of exercise equal to the total Option
Price, (c) a combination (i) and (ii), or (d) in cash by a broker-dealer
acceptable to Zebra to whom the holder of the Option has submitted an
irrevocable notice of exercise. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>Any fraction of a Share which
would be required to pay the Option Price shall be disregarded and the remaining
amount due shall be paid in cash. No book-entry record or certificate
representing Shares shall be made or delivered until the full Option Price and
any withholding taxes have been paid (or arrangement made for such payment to
Zebra&#146;s satisfaction). </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>6.8. </FONT></B><B><U><FONT face="Times New Roman" size=2>Termination of Employment, Service as a Director,
or Consulting Arrangement</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>The Award Agreement shall set
forth the extent to which a Participant shall have the right to exercise the
Option or SAR following termination of employment, service as a Director, or
consulting arrangement with Zebra and/or its Subsidiaries. Such provisions need
not be uniform among Options or SARs, and may reflect distinctions based on the
reasons for such termination, including, but not limited to, termination for
Cause or Good Reason, or reasons relating to the breach or threatened breach of
restrictive covenants. Subject to Section 9.8, in the event that an Award
Agreement does not set forth such provisions, the following provisions shall
apply: </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>B-7</FONT></P>
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<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(a) </FONT><I><FONT face="Times New Roman" size=2>Retirement, Death or Disability</FONT></I><FONT face="Times New Roman" size=2>. In the event that a Participant&#146;s employment,
service as a Director or consulting arrangement with Zebra and/or any Subsidiary
terminates by reason of Retirement, death or Disability, to the extent that the
Option or SAR is not exercisable, all Shares covered by the Option or SAR shall
immediately become fully exercisable and shall remain exercisable until the
earlier of (i) the remainder of the term of the Option or SAR, or (ii) 12 months
after the date of termination.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(b) </FONT><I><FONT face="Times New Roman" size=2>Termination</FONT></I><FONT face="Times New Roman" size=2> for Cause. In the event that a Participant&#146;s employment, service as a
Director or consulting arrangement with Zebra and/or any Subsidiary terminates
for Cause, all Options or SARs shall expire immediately and all rights
thereunder shall cease upon termination. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(c) </FONT><I><FONT face="Times New Roman" size=2>Other Termination</FONT></I><FONT face="Times New Roman" size=2>. In the event that a Participant&#146;s employment,
service as a Director or consulting arrangement with Zebra terminates for any
reason other than Retirement, death, Disability, or for Cause, all then
exercisable Options or SARs shall remain exercisable from the date of
termination until the earlier of (i) the remainder of the term of the Option or
SAR, or (ii) 90 days after the date of termination. Such Options or SARs shall
only be exercisable to the extent that they were exercisable as of such
termination date and all unexercisable Options or SARs shall be
forfeited.</FONT><B><FONT face="Times New Roman" size=2> </FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Section
7<BR></FONT></B><B><FONT face="Times New Roman" size=2>Restricted Stock and
Restricted Stock Units </FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>7.1. </FONT></B><B><U><FONT face="Times New Roman" size=2>Grant of Restricted Stock and Restricted Stock
Units</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Restricted Stock Awards and RSU Awards may be
granted to one or more Participants in such number, upon such terms and
conditions, and at any time and from time to time, as determined by the
Committee, in its sole discretion. If no Period of Restriction is set forth in
the Award Agreement, the transfer and any other restrictions shall lapse (i) to
a maximum cumulative extent of one-third of the Shares or RSUs (rounded to the
nearest whole) covered by the Award on the first anniversary of the grant date,
(ii) to a maximum cumulative extent of two-thirds of the Shares or RSUs (rounded
to the nearest whole) covered by the Award on the second anniversary of the
grant date, and (iii) to a maximum cumulative extent of 100% of the Shares or
RSUs covered by the Award on the third anniversary of the grant date.
</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>7.2. </FONT></B><B><U><FONT face="Times New Roman" size=2>Restrictions</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Subject to Section 9.1, such other conditions and/or restrictions on any
Shares of Restricted Stock or RSUs may be imposed as set forth in the Award
Agreement, including without limitation, a requirement that Participants pay a
purchase price for each Share of Restricted Stock or RSU, restrictions based
upon the achievement of Performance Targets with respect to one or more
Performance Goals (company-wide, subsidiary-wide, divisional, and/or
individual), time-based restrictions on vesting, which may or may not be
following the attainment of the Performance Targets, sales restrictions under
applicable stockholder agreements or similar agreements, and/or restrictions
under applicable federal or state securities laws.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>7.3. </FONT></B><B><U><FONT face="Times New Roman" size=2>Voting Rights, Dividends and Other
Distributions</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>Unless otherwise set forth in the
Award Agreement, Participants to whom Shares of Restricted Stock have been
granted may exercise full voting rights with respect to those Shares during the
Period of Restriction and shall be credited with regular cash dividends paid
with respect to the underlying Shares while they are so held during the Period
of Restriction. The Award Agreement may contain restrictions on the dividends
and other distributions.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>7.4. </FONT></B><B><U><FONT face="Times New Roman" size=2>Termination of Employment, Service as a Director,
or Consulting Arrangement</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>The Award Agreement shall set
forth the extent to which a Participant shall have the right to receive or
settle unvested Shares of Restricted Stock or RSUs following termination of
employment, service as a Director, or consulting arrangement with Zebra and/or
its Subsidiaries. Such provisions need not be uniform among Restricted Stock
Awards and RSU Awards, and may reflect distinctions based on the reasons for
termination of employment including, but not limited to, termination of
employment for Cause or Good Reason, or reasons relating to the breach or
threatened breach of restrictive covenants. Subject to Section 9.8, in the event
that an Award Agreement does not set forth such provisions, the following
provisions shall apply: </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(a) </FONT><I><FONT face="Times New Roman" size=2>Retirement, Death or Disability</FONT></I><FONT face="Times New Roman" size=2>. In the event that a Participant&#146;s employment,
service as a Director, or consulting arrangement with Zebra and/or its
Subsidiaries is terminated due to Retirement, death or Disability, all Shares of
Restricted Stock and RSUs shall immediately become fully vested on the date of
termination and any restrictions shall lapse. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>B-8 </FONT></P>
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<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(b) </FONT><I><FONT face="Times New Roman" size=2>Other Termination</FONT></I><FONT face="Times New Roman" size=2>. In the event that a Participant&#146;s employment,
service as a Director, or consulting arrangement with Zebra and/or its
Subsidiaries is terminated for any reason other than Retirement, death or
Disability, all Shares of Restricted Stock and RSUs that are unvested at the
date of termination shall be forfeited.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>Section
8<BR></FONT></B><B><FONT face="Times New Roman" size=2>Performance Awards,
Performance Units and Performance Shares </FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.1. </FONT></B><B><U><FONT face="Times New Roman" size=2>Grant of 	Performance Awards, Performance Units and
Performance Shares</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B> <FONT face="Times New Roman" size=2>Performance Awards,
Performance Units and Performance Shares may be granted to one or more
Participants in such number, upon such terms and conditions, and at any time and
from time to time, as determined by the Committee, in its sole
discretion.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>8.2. </FONT></B><B><U><FONT face="Times New Roman" size=2>Termination of Employment, Service as a Director
or Consulting Arrangement</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>The Award Agreement shall set
forth the extent to which the Participant shall have the right to receive
payment for Performance Awards, Performance Units and/or Performance Shares
following termination of the Participant&#146;s employment, service as a Director, or
consulting arrangement with Zebra and/or its Subsidiaries. Such provisions need
not be uniform among Performance Awards, Performance Unit Awards and Performance
Share Awards, and may reflect distinctions based on the reasons for such
termination, including, but not limited to, termination for Cause or Good
Reason, or reasons relating to the breach or threatened breach of restrictive
covenants. Subject to Section 9.8, in the event that an Award Agreement does not
set forth such provisions, the following provisions shall apply: </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(a) </FONT><I><FONT face="Times New Roman" size=2>Retirement, Death or Disability</FONT></I><FONT face="Times New Roman" size=2>. In the event that a Participant&#146;s employment,
service as a Director, or consulting arrangement with Zebra and/or its
Subsidiaries is terminated during a Performance Period, or prior to the date of
the payment of the Performance Award, Performance Unit and/or Performance Share
Award, due to Retirement (except with respect to Awards to executive officers
that are intended to qualify for the Performance-Based Exception), death or
Disability, the Participant shall receive a prorated payout of the Performance
Awards, Performance Units and/or Performance Shares.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(b) </FONT><I><FONT face="Times New Roman" size=2>Other Termination. </FONT></I><FONT face="Times New Roman" size=2>In the event that a Participant&#146;s employment,
service as a Director, or consulting arrangement with Zebra and/or its
Subsidiaries is terminated during a Performance Period, or prior to the date of
the payment of the Performance Award, Performance Unit and/or Performance Share
Award, for any reason other than a reason set forth in Section 8.2(a), all
Performance Awards, Performance Unit Awards and Performance Share Awards shall
be forfeited.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>Section 9<BR>General
</FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.1 </FONT></B><B><U><FONT face="Times New Roman" size=2>Performance Goals</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Unless and until the Committee proposes for stockholder vote and
stockholders approve a change in the general Performance Goals set forth in this
Section 9.1, the attainment of which may determine the degree of payout and/or
vesting with respect to Awards to executive officers that are intended to
qualify for the Performance-Based Exception, the Performance Goals and
Performance Targets to be used for purposes of such grants shall be established
by the Committee in writing, shall be objectively measurable and shall be stated
in terms of the attainment of specified levels of or percentage changes in any
one or more of the following measurements: revenue; primary or fully-diluted
earnings per Share; earnings before interest, taxes, depreciation, and/or
amortization; adjusted earnings before interest, taxes, depreciation, and/or
amortization; pretax income; adjusted pretax income; cash flows from operations;
total cash flows; bookings; return on equity; return on invested capital; return
on assets; net operating profits after taxes; economic value added; total
stockholder return or return on sales; or any individual Performance Goal which
is measured solely in terms of quantitative targets related to Zebra or Zebra&#146;s
business, or any combination thereof. In addition, Performance Goals and
Performance Targets may be based on one or more business criteria, one or more
business units or divisions of Zebra or the applicable sector, or Zebra as a
whole, and if so desired by the Committee, by comparison with a peer group of
companies. A Performance Target need not be based upon an increase or positive
result under a particular business criterion and could include, for example,
maintaining the status quo or limiting economic losses (measured, in each case,
by reference to specific business criteria). The Performance Targets for any
Performance Period may be measured on an absolute basis or in relation to a peer
group or an index. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>B-9</FONT></P>
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<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>For each Award intended to
qualify for the Performance-Based Exception, the Committee shall establish the
applicable Performance Goal(s) and Performance Target(s) for that Award no later
than the latest date that the Committee may establish such goals and targets
without jeopardizing the ability of the Award to qualify for the
Performance-Based Exception. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>The degree of payout and/or
vesting of such Awards intended to qualify for the Performance-Based Exception
shall be determined based upon the written certification of the Committee as to
the extent to which the Performance Targets and any other material terms and
conditions precedent to such payment and/or vesting have been satisfied. The
Committee shall have the sole discretion to adjust the determinations of the
degree of attainment of the Performance Targets; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>however</FONT></U><FONT face="Times New Roman" size=2>, that the Performance Targets applicable to
Awards which are intended to qualify for the Performance-Based Exception, and
which are held by executive officers, may not be adjusted so as to increase the
payment under the Award (the Committee shall retain the sole discretion to
adjust such Performance Targets upward, or to otherwise reduce the amount of the
payment and/or vesting of the Award relative to the Performance Targets).
</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>In the event that applicable
tax and/or securities laws change to permit Committee sole discretion to alter
the governing Performance Goals and Performance Targets without obtaining
stockholder approval of such changes, the Committee shall have sole discretion
to make such changes without obtaining stockholder approval. Nothing contained
herein shall be construed to preclude the Committee from granting awards to
executive officers that are not intended to qualify for the Performance-Based
Exception. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.2. </FONT></B><B><U><FONT face="Times New Roman" size=2>Non-Transferability of
Awards</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>All ISOs granted to a Participant shall be
exercisable during his or her lifetime only by the Participant. Unless otherwise
specified in the Agreement relating to an Award, no Award shall be transferable
other than by will, the laws of descent and distribution or pursuant to
beneficiary designation procedures approved by Zebra. Except to the extent
permitted by the foregoing sentence or the Agreement relating to an Award, each
Award may be exercised or settled during the Participant&#146;s lifetime only by the
Participant or the Participant&#146;s legal representative or similar person. Except
to the extent permitted by the second preceding sentence or the Agreement
relating to an Award, no Award may be sold, transferred, assigned, pledged,
hypothecated, encumbered or otherwise disposed of (whether by operation of law
or otherwise) or be subject to execution, attachment or similar process. Upon
any attempt to so sell, transfer, assign, pledge, hypothecate, encumber or
otherwise dispose of any such Award, such Award and all rights thereunder shall
immediately become null and void. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.3 </FONT></B><B><U><FONT face="Times New Roman" size=2>Beneficiary Designation</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>If permitted by Zebra, each Participant under the Plan may, from time to
time, name any beneficiary or beneficiaries (who may be named contingently or
successively) to whom any benefit under the Plan is to be paid in case of his or
her death before he or she receives any or all of such benefit. Each such
designation shall revoke all prior designations by the same Participant, shall
be in a form prescribed by Zebra, and will be effective only when filed by the
Participant in writing with Zebra&#146;s Human Resources Department during the
Participant&#146;s lifetime. The spouse of a married Participant domiciled in a
community property jurisdiction shall join in any designation of a beneficiary
other than such spouse. If a Participant fails to designate a beneficiary, or if
all designated beneficiaries of a Participant predecease the Participant, then
each outstanding Option and SAR hereunder held by such Participant, to the
extent exercisable, may be exercised by such Participant&#146;s executor,
administrator, legal representative or similar person. In the absence of any
such designation, benefits remaining unpaid at the Participant&#146;s death shall be
paid to the Participant&#146;s estate. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.4 </FONT></B><B><U><FONT face="Times New Roman" size=2>Deferrals; Compliance with Section
409A</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>The Committee, in its sole discretion, may include
in an Award Agreement provisions that permit a Participant to defer receipt of
payment of cash or delivery of Shares that would otherwise be due to such
Participant upon the exercise, lapse or waiver of restrictions, or satisfaction
of any requirements, goal or target with respect to such Award. Such deferral
provisions shall be consistent with Section 409A of the Code and applicable
regulations and shall be made in accordance with such terms and conditions as
the Committee may establish from time to time or as may be provided in any
employment agreement between Zebra and the Participant or in any deferred
compensation plan maintained by Zebra. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.5. </FONT></B><B><U><FONT face="Times New Roman" size=2>No Guarantee of Employment or Service or Right to
Participate</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>Nothing in the Plan shall
interfere with or limit in any way the right of Zebra to terminate any
Participant&#146;s employment or consulting arrangement at any time, nor confer upon
any Participant any right to continue in the employ of or consulting arrangement
with Zebra or any Subsidiary. Temporary absence from employment because of
illness, vacation, </FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>approved leaves of absence,
and transfers of employment among Zebra and its Subsidiaries, shall not be
considered to terminate employment or to interrupt continuous employment.
Temporary cessation of the provision of consulting services because of illness,
vacation or any other reason approved in advance by Zebra shall not be
considered a termination of the consulting arrangement or an interruption of the
continuity thereof.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>Except as otherwise provided
in an Award Agreement, conversion of a Participant&#146;s employment relationship to
a consulting arrangement, or vice versa, shall not result in termination of
previously granted Awards. No Employee, Director or consultant shall have the
right to be selected to receive an Award under the Plan, or, having been so
selected, to be selected to receive a future Award. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.6. </FONT></B><B><U><FONT face="Times New Roman" size=2>Right of Setoff; Recoupment</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Zebra or any Subsidiary may, to the extent permitted by applicable law
and which would not trigger tax under Section 409A of the Code, deduct from and
set off against any amounts Zebra or Subsidiary may owe to the Participant from
time to time, including amounts payable in connection with any Award, owed as
wages, fringe benefits, or other compensation owed to the Participant, such
amounts as may be owed by the Participant to Zebra, although the Participant
shall remain liable for any part of the Participant&#146;s payment obligation not
satisfied through such deduction and setoff. By accepting any Award granted
hereunder, the Participant agrees to any deduction or setoff under this Section.
Any Awards granted under the Plan (including any amounts or benefits arising
from such Awards) shall be subject to any applicable &#147;clawback&#148; or other
recoupment policies that Zebra has in place from time to time. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.7 </FONT></B><B><U><FONT face="Times New Roman" size=2>Section 83(b) Election</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>No election under Section 83(b) of the Code to include in gross income in
the year of transfer the amounts specified in Section 83(b) of the Code or under
a similar provision of the laws of a jurisdiction outside the United States may
be made, unless expressly permitted by the terms of the Award Agreement or by
action of the Committee in writing before the making of such election. In any
case in which a Participant is permitted to make such an election in connection
with an Award, the Participant shall notify Zebra of such election within ten
days after filing notice of the election with the Internal Revenue Service or
other governmental authority, in addition to any filing and notification
required pursuant to regulations issued under Section 83(b) of the Code or other
applicable provision. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.8. </FONT></B><B><U><FONT face="Times New Roman" size=2>Change in Control</FONT></U></B><B><FONT face="Times New Roman" size=2>.</FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(a) Notwithstanding any
provision in the Plan or any Award Agreement, in the event of a Change in
Control pursuant to Section 2.5(c) or (d) 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 (disregarding the payment of
cash in lieu of fractional shares) and (ii) outstanding Options, SARs,
Restricted Stock Awards and RSU Awards are assumed or provision is made for the
continuation of outstanding Options, SARs, Restricted Stock Awards and RSU
Awards after the Change in Control, then, subject to Section 4.3, all
outstanding Options, SARs, Restricted Stock Awards and RSU Awards shall continue
in accordance with their terms and there shall be substituted for each Share
available under the Plan, whether or not then subject to an outstanding Award,
the number and class of shares into which each outstanding Share shall be
converted pursuant to such Change in Control; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>however</FONT></U><FONT face="Times New Roman" size=2>, in the event of any such substitution, the
purchase price per share in the case of an Option and the base price in the case
of an SAR shall be appropriately adjusted by the Committee (whose determination
shall be final, binding and conclusive), such adjustments to be made in the case
of outstanding Options and SARs without an increase in the aggregate purchase
price or base price; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>further</FONT></U><FONT face="Times New Roman" size=2>, that in the event a Participant&#146;s employment with Zebra and its
Subsidiaries is terminated by the Participant for Good Reason or by Zebra or any
Subsidiary without Cause on or after the date of such Change in Control and on
or prior to the one-year anniversary date of such Change in Control, then all
outstanding Options and SARs held by the Participant under the Plan shall become
exercisable in full as of the effective date of the termination of employment
and, along with any then unexercised portions of such Options and SARs, shall
remain exercisable through the remaining term of such Options and SARs, as
applicable, and all outstanding Restricted Stock Awards and RSU Awards held by
the Participant under the Plan shall become fully vested as of the effective
date of the termination of employment and the remainder of any Period of
Restriction relating to such Restricted Stock Awards and RSU Awards shall lapse;
</FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>further</FONT></U><FONT face="Times New Roman" size=2>, that upon the
occurrence of such Change in Control the Performance Periods applicable to all
outstanding Awards shall lapse and the Performance Goals applicable to such
Awards shall be deemed to be satisfied at the higher of (A) the amount of such
Award that is payable or earned upon satisfaction of the applicable Performance
Goals at the target level and (B) the amount that would be accrued under
generally accepted accounting principles as of the date of the occurrence of
such Change in Control and, along with any then unexercised portion(s) of any
such </FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>Options and SARs as to which a
Performance Period lapses, shall remain exercisable through the remaining terms
of such Options and SARs, as applicable.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>(b) Notwithstanding any
provision in the Plan or any Award Agreement and unless otherwise provided in a
Participant&#146;s employment or other agreement, in the event of a Change in Control
pursuant to Section 2.5(a) or (b), or in the event of a Change in Control
pursuant to Section 2.5(c) or (d) in connection with which (i) holders of Shares
do not receive consideration consisting solely of shares of common stock that
are registered under Section 12 of the Exchange Act or (ii) outstanding Options
and SARs are not assumed or provision is not made for the continuation of
outstanding Options and SARs after the Change in Control, each outstanding Award
shall be surrendered to Zebra by the holder thereof, and each such Award shall
immediately be canceled by Zebra, and the holder shall receive, within ten days
of the occurrence of such Change in Control, a cash payment from Zebra (or any
successor) in an amount equal to (i) in the case of an Option, the number of
Shares then subject to such Option, multiplied by the excess, if any, of the
greater of (A) the highest per share price offered to Zebra stockholders in any
transaction whereby such Change in Control takes place or (B) the Fair Market
Value of a Share on the date of occurrence of such Change in Control, over the
Option Price per Share subject to the Option, (ii) in the case of a Non-Tandem
SAR, the number of Shares then subject to such SAR, multiplied by the excess, if
any, of the greater of (A) the highest price per Share offered to Zebra
stockholders in any transaction whereby such Change in Control takes place or
(B) the Fair Market Value of a Share on the date of occurrence of such Change in
Control, over the base price of the SAR, (iii) in the case of a Restricted Stock
Award, RSU Award, Performance Unit Award or Performance Share Award, the number
of Shares, number of units or number of Performance Shares, as the case may be,
then subject to such Award, multiplied by the greater of (A) the highest per
Share price offered to Zebra stockholders in any transaction whereby such Change
in Control takes place or (B) the Fair Market Value of a Share on the date of
occurrence of such Change in Control, and (iv) in the case of a Performance
Award, the higher of (A) the target amount of such Award that is payable upon
satisfaction of the applicable Performance Goals at the target level and (B) the
amount that would be accrued under generally accepted accounting principles as
of the date of the occurrence of such Change in Control. In the event of such
Change in Control, each Tandem SAR shall be surrendered by the holder thereof
and shall be canceled simultaneously with the cancellation of the related
Option. Zebra may, but is not required to, cooperate with any person who is
subject to Section 16 of the Exchange Act to assure that any cash payment in
accordance with the foregoing to such person is made in compliance with Section
16 and the rules and regulations thereunder. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.9. </FONT></B><B><U><FONT face="Times New Roman" size=2>Amendment, Modification, and
Termination</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>The Board may amend, suspend or
terminate the Plan or the Committee&#146;s authority to grant Awards without the
consent of stockholders or Participants; </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>however</FONT></U><FONT face="Times New Roman" size=2>, that any amendment to the Plan shall be submitted to Zebra&#146;s
stockholders for approval not later than the earliest annual meeting for which
the record date is after the date of such Board action if such stockholder
approval is required by any federal or state law or regulation or the rules of
any stock exchange on which the Shares may then be listed or quoted and the
Board may otherwise, in its sole discretion, determine to submit other
amendments to the Plan to stockholders for approval; and </FONT><U><FONT face="Times New Roman" size=2>provided</FONT></U><FONT face="Times New Roman" size=2>, </FONT><U><FONT face="Times New Roman" size=2>further</FONT></U><FONT face="Times New Roman" size=2>, that, without the consent of an affected
Participant, no Board or Committee action may materially and adversely affect
the rights of such Participant under any outstanding Award, unless such action
is determined by the Board or Committee in good faith to be necessary to comply
with any applicable law, regulation or rule (including Section 409A of the
Code). Subject to the preceding sentence, the Committee may waive or modify any
term of an Award to the extent that the terms of the Award Agreement, taking the
waiver or modification into account, would have been permissible if included in
the original Award Agreement, but shall have no authority to waive or modify any
other Award term after the Award has been granted to the extent that the waived
or modified term was mandatory under the Plan. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.10.
</FONT></B><B><U><FONT face="Times New Roman" size=2>Tax
Withholding</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>Zebra shall have the power and
the right to deduct or withhold, or require a Participant to remit to Zebra, an
amount sufficient to satisfy federal, state, and local taxes, domestic or
foreign, required by law or regulation to be withheld with respect to any
taxable event arising as a result of the Plan. With respect to withholding
required upon the exercise of Options or SARs, upon the lapse of restrictions on
Restricted Stock or RSUs, upon the satisfaction of Performance Targets, or upon
any other taxable event arising as a result of Awards granted hereunder,
Participants may elect, subject to the approval of Zebra, to satisfy the
withholding requirement, in whole or in part, by having Zebra withhold Shares
having a Fair Market Value on the date the tax is to be determined in an amount
that does not exceed the minimum statutory total tax which would be imposed on
the transaction. All such elections shall be irrevocable, made in writing,
signed by the Participant, and shall be subject to any restrictions or
limitations that Zebra deems appropriate. </FONT></P>
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<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.11.
</FONT></B><B><U><FONT face="Times New Roman" size=2>Unfunded
Plan</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>The Plan is intended to constitute an &#147;unfunded&#148;
plan for incentive and deferred compensation. With respect to any payments not
yet made to a Participant or obligation to deliver Shares pursuant to an Award,
nothing contained in the Plan or any Award shall give any such Participant any
rights that are greater than those of a general creditor of Zebra;
</FONT><U><FONT face="Times New Roman" size=2>provided, however</FONT></U><FONT face="Times New Roman" size=2>, that the Committee may authorize the creation of
trusts and deposit therein cash, Shares, other Awards or other property, or make
other arrangements to meet Zebra&#146;s obligations under the Plan. Such trusts or
other arrangements shall be consistent with the &#147;unfunded&#148; status of the Plan
unless the Committee otherwise determines with the consent of each affected
Participant.</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.12 </FONT></B><B><U><FONT face="Times New Roman" size=2>Forfeitures; Fractional
Shares</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Unless otherwise determined by Zebra, in the event
of a forfeiture of an Award with respect to which a Participant paid cash
consideration, the Participant shall be repaid the amount of such cash
consideration. No fractional Shares shall be issued or delivered pursuant to the
Plan or any Award. Zebra shall determine whether cash, other Awards or other
property shall be issued or paid in lieu of such fractional Shares or whether
such fractional Shares or any rights thereto shall be forfeited or otherwise
eliminated. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.13.
</FONT></B><B><U><FONT face="Times New Roman" size=2>No Repricing of Options or
Stock Appreciation Rights</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>Notwithstanding anything in this
Plan to the contrary and subject to Section 4.3, the terms of outstanding
Options or SARs may not be amended to reduce the exercise price or base price,
as the case may be, and no Option or SAR shall be canceled in exchange for cash,
other Awards or Options or SARs with an exercise price or base price that is
less than the exercise price or base price of the original Option or SAR without
the approval of a majority of the votes cast affirmatively or negatively by the
holders of the Shares present in person or represented by proxy at a meeting in
which the reduction of such exercise price or base price, or the cancellation
and regranting of an Award, as the case may be, is considered for approval.
</FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.14.
</FONT></B><B><U><FONT face="Times New Roman" size=2>Compliance with Section
162(m) of the Code</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>Zebra intends that Options, SARs
and other Awards granted to executive officers who constitute covered employees
under Section 162(m) of the Code shall satisfy the requirements of the
Performance-Based Exception, unless otherwise determined by the Committee when
the Award is granted. Accordingly, the Plan and Award Agreements shall be
interpreted in a manner consistent with Section 162(m) of the Code and
regulations thereunder. If any provision of the Plan or any Award Agreement
designated as intended to satisfy the Performance-Based Exception does not
comply or is inconsistent with the requirements of Section 162(m) of the Code or
regulations thereunder, such provision shall be construed or deemed amended to
the extent necessary to conform to such requirements, and no provision shall be
deemed to confer upon the Committee or any other person sole discretion to
increase the amount of compensation otherwise payable in connection with any
such Award upon attainment of the applicable Performance Goals. With respect to
any Option, SAR, or other Award designed to be exempt from the requirements of
Section 409A of the Code, Zebra reserves the right to delay a Participant&#146;s
exercise or the lapse or satisfaction of restrictions of such Award if Zebra
reasonably determines that issuance or payment under the Award would not be
deductible by reason of Section 162(m) of the Code. With respect to any other
Award, payment of any amount that Zebra reasonably determines would not be
deductible by reason of Section 162(m) of the Code shall be deferred until the
earlier of the earliest date on which Zebra reasonably determines that the
deductibility of the payment will not be so limited, or the year following the
termination of employment. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.15.
</FONT></B><B><U><FONT face="Times New Roman" size=2>Awards to Participants
Outside the United States</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>The Committee may modify the
terms of any Award made to or held by a Participant who is then resident or
primarily employed outside of the United States in any manner deemed by the
Committee to be necessary or appropriate in order that such Award shall conform
to laws, regulations, and customs of the country in which the Participant is
then resident or primarily employed, or so that the value and other benefits of
the Award to the Participant, as affected by foreign tax laws and other
restrictions, applicable as a result of the Participant&#146;s residence or
employment abroad shall be comparable to the value of such an Award to a
Participant who is resident or primarily employed in the United States. An Award
may be modified under this Section in a manner that is inconsistent with the
express terms of the Plan, so long as such modifications will not contravene any
applicable law or regulation or result in actual liability under Section 16(b)
of the Exchange Act for the Participant whose Award is modified. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.16.
</FONT></B><B><U><FONT face="Times New Roman" size=2>Successors</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>All obligations of Zebra under
the Plan with respect to Awards shall be binding on any successor to Zebra,
whether the existence of such successor is the result of a direct or indirect
merger, consolidation, purchase of all or substantially all of the business
and/or assets of Zebra or otherwise. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>B-13</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR><P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.17.
</FONT></B><B><U><FONT face="Times New Roman" size=2>Governing Law;
Venue</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>To the extent not preempted by federal law, the
Plan, and all agreements hereunder, shall be construed in accordance with and
governed by the laws of the State of Delaware without giving effect to
principles of conflicts of laws. Any dispute, controversy or claim arising out
of or relating to the Plan or any award under the Plan shall be brought only in
a court of competent jurisdiction in the United States District Court for the
Northern District of Illinois, and no other court, agency or tribunal shall have
jurisdiction to resolve any such dispute, controversy or claim. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.18.
</FONT></B><B><U><FONT face="Times New Roman" size=2>Incapacity of
Recipient</FONT></U></B><B><FONT face="Times New Roman" size=2>.
</FONT></B><FONT face="Times New Roman" size=2>If the Committee is served with a
court order holding that a person entitled to a distribution under the Plan is
incapable of personally receiving and giving a valid receipt for such
distribution, the Committee shall postpone payment until such time as a claim
therefore shall have been made by a duly appointed guardian or other legal
representative of such person. The Committee is under no obligation to inquire
or investigate as to the competency of any person entitled to a distribution.
Any payment to an appointed guardian or other legal representative under this
Section shall be a payment for the account of the incapacitated person and a
complete discharge of any liability of Zebra and the Plan therefor. </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><B><FONT face="Times New Roman" size=2>9.19.
</FONT></B><B><U><FONT face="Times New Roman" size=2>Other
Plans</FONT></U></B><B><FONT face="Times New Roman" size=2>. </FONT></B><FONT face="Times New Roman" size=2>Nothing contained in the Plan shall prevent the
Committee or Zebra from adopting other non-stockholder approved plans, policies
and arrangements for granting incentives and other compensation to employees of
the Company and its Subsidiaries or adopting or continuing in effect other or
additional compensation arrangements, and such arrangements may be either
generally applicable or applicable only in specific cases. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>B-14</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

        <DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
        <P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<DIV style="PADDING-RIGHT: 0.25in; PADDING-LEFT: 0.25in; PADDING-BOTTOM: 20%">
<DIV style="FLOAT: left; WIDTH: 20%">
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="100%">&nbsp;<IMG src="proxycardx1x1.jpg" border=0></TD></TR>
  <TR>
    <TD noWrap width="100%"><I>ZEBRA TECHNOLOGIES CORPORATION<BR>3 OVERLOOK
      POINT<BR>LINCOLNSHIRE, IL 60069</I></TD></TR></TABLE></DIV>
<DIV style="FLOAT: right; WIDTH: 45%">
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD width="100%"><B>VOTE BY INTERNET - <U>www.proxyvote.com</U></B></TD></TR>
  <TR vAlign=bottom>
    <TD width="100%">Use the Internet to transmit your voting instructions and
      for electronic delivery of information prior to 11:59 PM Eastern Time on
      May 13, 2015. Please have your proxy card available when you access the
      web site and follow the instructions to obtain your records and to create
      an electronic voting instruction form.</TD></TR>
  <TR>
    <TD width="100%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap width="100%"><B>ELECTRONIC DELIVERY OF FUTURE PROXY
      MATERIALS</B></TD></TR>
  <TR vAlign=bottom>
    <TD width="100%">If you would like to reduce the costs incurred by Zebra
      in mailing proxy materials, you can consent to receiving all future proxy
      statements, proxy cards and annual reports electronically via e-mail or
      the Internet. To sign up for electronic delivery, please follow the
      instructions above to vote using the Internet and, when prompted, indicate
      that you agree to receive or access proxy materials electronically in
      future years.</TD></TR>
  <TR>
    <TD width="100%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD width="100%"><B>VOTE BY PHONE - 1-800-690-6903</B></TD></TR>
  <TR vAlign=bottom>
    <TD width="100%">Use any touch-tone telephone to transmit your voting
      instructions prior to 11:59 PM Eastern Time on May 13, 2015. Please have
      your proxy card available when you call and then follow the
    instructions.</TD></TR>
  <TR>
    <TD width="100%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD width="100%"><B>VOTE BY MAIL</B></TD></TR>
  <TR vAlign=bottom>
    <TD width="100%">Mark, sign and date your proxy card and return it in the
      postage-paid envelope we have provided or return it to Vote Processing,
      c/o Broadridge, 51 Mercedes Way, Edgewood, NY
11717.</TD></TR></TABLE></DIV><BR clear=all></DIV><BR><BR><BR><BR><BR>
<DIV>
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt dashed" noWrap align=left width="71%">TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt dashed" noWrap align=left width="1%">M89084-P59868</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt dashed" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt dashed" noWrap align=right width="26%">KEEP THIS PORTION FOR YOUR RECORDS&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="26%">DETACH AND RETURN THIS PORTION
    ONLY&nbsp;</TD></TR>
  <TR>
    <TD style="FONT-SIZE: 8pt; FONT-FAMILY: serif; TEXT-ALIGN: center" noWrap width="99%" colSpan=4><B>THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND
      DATED.</B></TD></TR></TABLE></DIV>
<DIV style="BORDER-RIGHT: #000000 2.25pt solid; PADDING-RIGHT: 4pt; BORDER-TOP: #000000 2.25pt solid; PADDING-LEFT: 4pt; FONT-SIZE: 8pt; PADDING-BOTTOM: 4pt; BORDER-LEFT: #000000 2.25pt solid; PADDING-TOP: 4pt; BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: serif; TEXT-ALIGN: justify">
<DIV style="FLOAT: left; WIDTH: 49%">
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD noWrap width="99%"  colSpan=6>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap width="99%" colSpan=6><B>ZEBRA TECHNOLOGIES
  CORPORATION</B></TD></TR>
  <TR>
    <TD vAlign=top width="1%">&nbsp;</TD>
    <TD width="98%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top width="1%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="TEXT-ALIGN: justify" vAlign=top width="81%" colSpan=4><B>The
      Board of Directors recommends that you vote FOR<BR>the following:</B></TD>
    <TD vAlign=top width="17%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="1%">&nbsp;</TD>
    <TD vAlign=top width="81%" colSpan=4>&nbsp;</TD>
    <TD vAlign=top width="17%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="4%">1. &nbsp;</TD>
    <TD vAlign=top noWrap width="94%" colSpan=4>Election of Directors</TD></TR>
  <TR>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD noWrap width="4%"></TD>
    <TD noWrap width="94%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD noWrap width="4%">&nbsp;</TD>
    <TD noWrap width="94%" colSpan=4><B>Nominees:</B></TD></TR>
  <TR>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD noWrap width="4%"></TD>
    <TD noWrap width="94%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%">&nbsp;</TD>
    <TD noWrap align=left width="94%" colSpan=4>Class I (term to expire
    2018)</TD></TR>
  <TR>
    <TD vAlign=top noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"></TD>
    <TD noWrap align=left width="94%" colSpan=4>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%">&nbsp;</TD>
    <TD noWrap align=left width="2%">01)&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap width="73%">Richard L. Keyser</TD>
    <TD noWrap width="2%"></TD>
    <TD noWrap width="17%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%">&nbsp;</TD>
    <TD noWrap align=left width="2%">02)</TD>
    <TD noWrap width="73%">Ross W. Manire</TD>
    <TD noWrap width="2%"></TD>
    <TD noWrap width="17%">&nbsp;</TD></TR></TABLE></DIV>
<DIV style="FLOAT: right; WIDTH: 49%">
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD vAlign=top noWrap width="1%" ></TD>
    <TD vAlign=top noWrap width="1%" ></TD>
    <TD vAlign=top noWrap width="1%" ></TD>
    <TD vAlign=top noWrap align=left width="1%" ></TD>
    <TD vAlign=top width="91%" >&nbsp;</TD>
    <TD vAlign=top noWrap width="2%" ></TD>
    <TD vAlign=top width="2%" ></TD></TR>
  <TR>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top width="91%">&nbsp;</TD>
    <TD vAlign=top noWrap width="2%" rowSpan=3>
      <DIV style="BORDER-RIGHT: #000000 2.25pt solid; BORDER-TOP: #000000 2.25pt solid; WIDTH: 0.4in; HEIGHT: 0.4in">&nbsp;&nbsp;</DIV></TD>
    <TD vAlign=top width="2%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="PADDING-RIGHT: 4pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; PADDING-TOP: 0pt; TEXT-ALIGN: center" vAlign=top noWrap width="1%" rowSpan=2><B>For<BR>All</B></TD>
    <TD style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; PADDING-BOTTOM: 0pt; PADDING-TOP: 0pt; TEXT-ALIGN: center" vAlign=top noWrap width="1%" rowSpan=2><B>Withhold<BR>All</B></TD>
    <TD style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; PADDING-BOTTOM: 0pt; PADDING-TOP: 0pt; TEXT-ALIGN: center" vAlign=top noWrap width="1%" rowSpan=2><B>For All<BR>Except</B></TD>
    <TD vAlign=top noWrap align=left width="1%" rowSpan=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="TEXT-ALIGN: justify" vAlign=top width="91%" rowSpan=2>To
      withhold authority to vote for any individual nominee(s), mark &#147;For All
      Except&#148; and write the number(s) of the nominee(s) on the line below.</TD>
    <TD vAlign=top noWrap width="2%" rowSpan=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" vAlign=bottom width="1%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD>
    <TD style="TEXT-ALIGN: center" vAlign=bottom width="1%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD>
    <TD style="TEXT-ALIGN: center" vAlign=bottom width="1%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" align=left width="91%">
      <DIV><BR>&nbsp;</DIV></TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="2%">&nbsp;</TD></TR></TABLE></DIV><BR clear=all><BR>
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="99%" colSpan=6>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="86%" colSpan=2><B>The Board of Directors recommends you vote
      FOR the following proposals:</B></TD>
    <TD noWrap width="2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; TEXT-ALIGN: center" noWrap width="2%"><B>For</B></TD>
    <TD style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; TEXT-ALIGN: center" noWrap width="4%"><B>Against</B></TD>
    <TD style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; TEXT-ALIGN: center" noWrap width="5%"><B>Abstain</B></TD></TR>
  <TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="99%" colSpan=6>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">2.&nbsp;&nbsp;</TD>
    <TD vAlign=top width="85%">Proposal to approve, by non-binding vote,
      compensation of named executive officers.</TD>
    <TD noWrap width="2%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="5%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD></TR>
  <TR>
    <TD noWrap width="1%"></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top width="85%">&nbsp;</TD>
    <TD noWrap width="2%"></TD>
    <TD noWrap width="2%"></TD>
    <TD noWrap width="4%"></TD>
    <TD noWrap width="5%"></TD></TR>
  <TR>
    <TD noWrap width="1%"></TD>
    <TD vAlign=top noWrap width="1%">3.&nbsp;&nbsp;</TD>
    <TD vAlign=top width="85%">Proposal to approve the 2015 Short-Term
      Incentive Plan.</TD>
    <TD noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="5%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD></TR>
  <TR>
    <TD noWrap width="1%"></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top width="85%">&nbsp;</TD>
    <TD noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="5%"></TD></TR>
  <TR>
    <TD noWrap width="1%"></TD>
    <TD vAlign=top noWrap width="1%">4.&nbsp;&nbsp;</TD>
    <TD vAlign=top width="85%">Proposal to approve the 2015 Long-Term
      Incentive Plan.</TD>
    <TD noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="5%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD></TR>
  <TR>
    <TD noWrap width="1%"></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top width="85%">&nbsp;</TD>
    <TD noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="5%"></TD></TR>
  <TR>
    <TD noWrap width="1%"></TD>
    <TD vAlign=top noWrap width="1%">5.&nbsp;&nbsp;</TD>
    <TD vAlign=top width="85%">Proposal to ratify Ernst &amp; Young as
      Independent Auditors.</TD>
    <TD noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="5%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD></TR></TABLE><BR><BR><BR><BR>
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD noWrap align=left width="49%" colSpan=5>&nbsp;</TD>
    <TD noWrap align=left width="51%">&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=justify width="43%" colSpan=3>For address
      changes and/or comments, mark here.<BR>(see reverse for instructions)</TD>
    <TD style="TEXT-ALIGN: center" vAlign=top noWrap width="5%"><FONT face="Times New Roman" size=1>&#9744;</FONT></TD>
    <TD vAlign=top noWrap align=left width="51%">&nbsp;</TD></TR></TABLE><BR><BR><BR><BR>
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD width="1%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: justify" width="86%" colSpan=2>Please sign exactly
      as your name(s) appear(s) hereon. When signing as attorney, executor,
      administrator, or other fiduciary, please give your full title as such.
      Joint owners should each sign personally. All holders must sign. If a
      corporation or partnership, please sign in the full corporate or
      partnership name by authorized officer.</TD>
    <TD noWrap width="2%">&nbsp;</TD>
    <TD noWrap width="2%">&nbsp;</TD>
    <TD noWrap width="4%">&nbsp;</TD>
    <TD noWrap width="5%">&nbsp;</TD></TR></TABLE><BR>
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="48%" colSpan=3>&nbsp;&nbsp;</TD>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD width="49%" colSpan=3>&nbsp;</TD></TR>
  <TR style="HEIGHT: 20pt">
    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 2.5in; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1.25pt solid" width="1%"><BR></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 0.5in; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1.25pt solid" width="1%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
    <TD style="PADDING-LEFT: 2%" noWrap width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 2.5in; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1.25pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 0.5in; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1.25pt solid" width="1%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD></TR>
  <TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">Signature [PLEASE SIGN WITHIN BOX]</TD>
    <TD width="1%">Date</TD>
    <TD width="46%">&nbsp;</TD>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD width="1%">Signature (Joint Owners)</TD>
    <TD width="1%">Date</TD>
    <TD width="47%">&nbsp;</TD></TR></TABLE></DIV><BR>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<BR>
<P align=left><B><FONT style="FONT-FAMILY: Times New Roman" size=2><A HREF="#a_024">Table of Contents</A></FONT></B></P>
<BR><BR><BR><BR>
<P align=center><B><FONT face="Times New Roman" size=2>Please do not vote by
more than one method. Your vote last received will be your official vote. If you
vote<BR>your proxy by Internet or by telephone, you do NOT need to mail back
your proxy card.</FONT></B></P><BR><BR><BR><BR>
<P align=center><B><FONT face="Times New Roman" size=2>Important Notice
Regarding the Availability of Proxy Materials for the Annual Meeting to be Held
on May 14, 2015:<BR></FONT></B><FONT face="Times New Roman" size=2>Zebra's Proxy
Statement for the 2015 Annual Meeting of Stockholders and the Annual Report to
Stockholders for the<BR>year ended December 31, 2014, are available at:
https://materials.proxyvote.com/989207.</FONT></P><BR><BR><BR><BR>
<DIV>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: black 1px dashed; TEXT-ALIGN: center" width="100%"><FONT style="FONT-FAMILY: wingdings"></FONT></TD></TR>
  <TR style="PADDING-BOTTOM: 3pt; PADDING-TOP: 3pt">
    <TD align=right width="100%"><FONT face="Times New Roman" size=1>M89085-P59868</FONT></TD></TR></TABLE></DIV>
<DIV style="BORDER-RIGHT: #000000 2.25pt solid; PADDING-RIGHT: 15pt; BORDER-TOP: #000000 2.25pt solid; PADDING-LEFT: 15pt; FONT-SIZE: 8pt; PADDING-BOTTOM: 6pt; BORDER-LEFT: #000000 2.25pt solid; PADDING-TOP: 3pt; BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: serif; TEXT-ALIGN: center">
<DIV style="TEXT-ALIGN: center"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold"><FONT face="Times New Roman" size=2>ZEBRA TECHNOLOGIES CORPORATION</FONT></FONT></DIV>
<DIV style="TEXT-ALIGN: center"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold"></FONT>&nbsp;</DIV>
<DIV style="TEXT-ALIGN: center"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold"><FONT face="Times New Roman" size=2>Revocable Proxy</FONT></FONT></DIV>
<DIV style="TEXT-ALIGN: center">&nbsp;</DIV>
<DIV style="TEXT-ALIGN: center"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold"><FONT face="Times New Roman" size=2>THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS<BR>ANNUAL
MEETING OF STOCKHOLDERS TO BE HELD ON<BR>MAY 14, 2015, AND AT ANY ADJOURNMENT
THEREOF.</FONT></FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV align=justify>The undersigned stockholder of Zebra Technologies
Corporation, a Delaware corporation, hereby appoints Douglas A. Fox and Jim L.
Kaput as proxies for the undersigned, and each of them, with full power of
substitution in each of them, to attend the Annual Meeting of Stockholders to be
held at the Hyatt Regency Long Island at Wind Watch Golf Club, 1717 Motor
Parkway, Hauppauge, New York 11788, on Thursday, May 14, 2015, at 10:30 a.m.,
Eastern Time, or any adjournment thereof, to cast on behalf of the undersigned
all votes that the undersigned is entitled to cast at such meeting and otherwise
to represent the undersigned at the meeting with all powers possessed by the
undersigned.</DIV>
<DIV align=justify>&nbsp;</DIV>
<DIV align=justify><B>NOTE:</B> The shares represented by this Proxy, when
properly executed, will be voted in the manner directed herein by the
undersigned stockholder. If this Proxy is executed but no direction is given,
the votes entitled to be cast by the undersigned will be cast "FOR" the nominees
for director, and "FOR" proposals 2, 3, 4 and 5 in the discretion of the Proxy
holder on any other matter that may properly come before the meeting or any
adjournment thereof. This Proxy is revocable and the undersigned may revoke it
at any time prior to the Annual Meeting by giving written notice of such
revocation to the Secretary of Zebra prior to the meeting or by filing with the
Secretary of Zebra prior to the meeting, a later-dated Proxy. If the undersigned
is present and wants to vote in person at the Annual Meeting, or at any
adjournment thereof, the undersigned may revoke this Proxy by giving written
notice of such revocation to the Secretary of Zebra on a form provided at the
meeting. The undersigned hereby acknowledges receipt of a Notice of Annual
Meeting of Stockholders of Zebra called for May 14, 2015, and of the Proxy
Statement for the Annual Meeting prior to the signing of this Proxy.</DIV>
<DIV>&nbsp;</DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold">Important
Notice Regarding the Availability of Proxy Materials for the Annual Stockholder
Meeting to be Held on May 14, 2015.</FONT></DIV>
<DIV align=center>&nbsp;</DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold">Zebra's Proxy
Statement for the 2015 Annual Meeting of Stockholders and the Annual Report
to<BR>Stockholders for the year ended December 31, 2014, are available at:
https://materials.proxyvote.com/989207.</FONT></DIV><BR><BR><BR>
<DIV align=center>
<DIV style="BORDER-RIGHT: #000000 1pt solid; PADDING-RIGHT: 4pt; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 4pt; FONT-SIZE: 10pt; PADDING-BOTTOM: 4pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 90%; PADDING-TOP: 4pt; BORDER-BOTTOM: #000000 1pt solid" align=center>
<DIV align=center>
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="TEXT-ALIGN: left" noWrap width="5%"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold">Address
      Changes/Comments:&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left" width="95%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left" width="100%" colSpan=2><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=2><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</FONT></TD></TR></TABLE></DIV></DIV>
<DIV style="MARGIN-TOP: 6pt"><FONT style="DISPLAY: inline" size=1>(If you noted
any Address Changes/Comments above, please mark corresponding box on the reverse
side.)</FONT></DIV></DIV>
<DIV>&nbsp;</DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold">(Continued on
reverse side)</FONT></DIV></DIV><BR>
<HR align=center width="100%" noShade SIZE=2>




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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
