|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the AAPL DEF 14A filed Apr 16, 2007. Termination
of Service. In general, if a non-employee
director ceases to be a member of the Board, the director’s options will be
exercisable by the director for a period of 90 days, to the extent vested at
the time of termination of service. If a non-employee director’s service on the
Board terminates by reason of the director’s death, the director’s vested
options will remain outstanding and the director’s beneficiary may exercise the
options at any time through the third anniversary of the director’s death. If a
non-employee director is removed from the Board for “cause” (as determined by
the Board in accordance with the Company’s by-laws), all of the director’s
options, whether or not vested, will immediately be forfeited.
|
| |||||||
