  The effect of hole doping on the exchange coupling of the nearest neighbor
(NN) Mn pairs in Zn$_{1-x}$Mn$_x$Te is probed by inelastic neutron scattering.
The difference in the NN exchange energy $\Delta J_1$ in the presence and in
the absence of the holes is determined. The obtained value of $\Delta J_1$ is
in good agreement with the predictions of the Zener/RKKY model, even on the
insulator side of the metal-insulator transition.
