|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the AAPL 10-Q filed May 4, 2005. Multiple Administrative Bodies.
If permitted by Rule 16b-3 promulgated under the Exchange Act or any
successor rule thereto, as in effect at the time that discretion is being
exercised with respect to the Plan, and by the legal requirements of the
Applicable Laws relating to the administration of stock plans such as the Plan,
if any, the Plan may (but need not) be administered by different administrative
bodies with respect to (a) Directors who are Employees, (b) Officers who
are not Directors, and (c) Employees who are neither Directors nor
Officers.
(ii) Section 162(m). To the extent that the Administrator determines it to be desirable to qualify Awards granted hereunder as “performance-based compensation” within the meaning of Section 162(m) of the Code, the Plan shall be administered by a Committee of two or more “outside directors” within the meaning of Section 162(m) of the Code.
(iii) |
| |||||||
