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This excerpt taken from the AAPL 10-Q filed May 4, 2005. Repurchase Option. Unless the
Administrator determines otherwise, the Award Agreement shall grant the Company
a repurchase option exercisable upon the voluntary or involuntary termination
of the purchaser’s service with the Company for any reason (including death or
Disability). The purchase price for Shares repurchased pursuant to the Award
Agreement shall be the original price paid by the purchaser and may be paid by
cancellation of any indebtedness of the purchaser to the Company. The
repurchase option shall lapse at a rate determined by the Administrator.
(c) |
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