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This excerpt taken from the AAPL 10-Q filed May 4, 2005. Determination of Payout Formula or Formulae. On or prior to the Determination Date, the Committee, in its sole
discretion, shall establish a Payout Formula or Formulae for purposes of
determining the Award (if any) payable to each Participant. Each Payout Formula
shall (a) be set forth in writing prior to the Determination Date,
(b) be based on a comparison of actual performance to the Performance
Goals, (c) provide for the payment of a Participant’s Target Award if the
Performance Goals for the Performance Period are achieved, and (d) provide
for an Award greater than or less than the Participant’s Target Award,
depending upon the extent to which actual performance exceeds or falls below
the Performance Goals. Notwithstanding the preceding, in no event shall a
Participant’s Award for any Performance Period exceed the Maximum Award.
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