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This excerpt taken from the AAPL DEF 14A filed Apr 16, 2007. Eligibility. Only
directors who are not employees of the Company or any of its subsidiaries may
participate in the Director Plan. All members of the Board of Directors (other
than Mr. Jobs) are currently eligible to participate in the Director Plan.
These excerpts taken from the AAPL 10-Q filed May 4, 2005. Eligibility.
(a) Any Employee as defined in Section 2 who shall be employed by the Company or one of its Designated Subsidiaries on the date his or her participation in the Plan is effective shall be eligible to participate in the Plan, subject to the limitations imposed by Section 423(b) of the Internal Revenue Code of 1986, as amended.
(b) Any provisions of the Plan to the contrary notwithstanding, no Employee shall be granted an option under the Plan (i) if, immediately after the grant, such Employee would own shares and/or hold outstanding options to purchase stock possessing five percent (5%) or more of the total combined voting power or value of all classes of shares of the Company or of any Subsidiary of the Company, or (ii) which permits his or her rights to purchase shares under all employee stock purchase plans of the Company and its Subsidiaries to accrue at a rate which exceeds Twenty-Five Thousand Dollars ($25,000) of the fair market value of the shares (determined at the time such option is granted) for each calendar year in which such stock option is outstanding at any time.
4. Eligibility. The
employees eligible to participate in the Plan for a given Performance Period
shall be executive officers and other key employees of the Company who are
designated by the Committee in its sole discretion. No person shall be
automatically entitled to participate in the Plan.
5. Eligibility.
Awards may be granted to Employees and the Chairman. Incentive Stock Options
may be granted only to Employees.
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