AAPL » Topics » Termination of Continuous Employment

This excerpt taken from the AAPL 10-Q filed May 4, 2005.
   Termination of Continuous Employment. Upon termination of a Participant’s Continuous Status as Employee (other than termination by reason of the Participant’s death), the Participant may, but only within ninety (90) days after the date of such termination, exercise his or her Option or SAR to the extent that it was exercisable at the date of such termination. Notwithstanding the foregoing, however, an Option or SAR may not be exercised after the date the Option or SAR would otherwise expire by its terms due to the passage of time from the date of grant.



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