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AAPL » Topics » No Employment Agreements or Other Arrangements

This excerpt taken from the AAPL DEF 14A filed Jan 12, 2010.

No Employment Agreements or Other Arrangements

The named executive officers are employed at will. Based on the Company’s philosophy, the compensation program for the named executive officers, including Mr. Jobs, does not include any of the following pay practices:

 

  •  

Employment agreements;

 

  •  

Severance arrangements;

 

  •  

Cash payments in connection with a change in control of the Company;

 

  •  

Tax reimbursements; and

 

  •  

Supplemental executive retirement benefits.

In addition, the Company generally does not provide any perquisites or change in control benefits to the named executive officers that are not available to other employees.

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