Apple 1997 Annual Report Download - page 157
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Please find page 157 of the 1997 Apple annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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(iii) In the absence of an established market for the Common Stock, the FairMarket Value thereof shall be determined in good faith by the
Administrator.
"NONSTATUTORY STOCK OPTION" means an Option that is not intended to be an incentive stock option within the meaning of Section
422 of the Code.
"OFFICER" means any individual designated by the Board as an elected officer of the Company.
"OPTION" means an option granted pursuant to the Plan.
"OPTIONED STOCK" means the Common Stock subject to an Option or
SAR.
"OPTIONEE" means an Employee who receives an Option or SAR.
"PARENT" corporation shall have the meaning defined in Section 424(e) of the Code.
"PLAN" means this Apple Computer, Inc. 1997 Employee Stock Option Plan.
"SAR" means a stock appreciation right granted pursuant to Section 9 below.
"SECTION 3 LIMIT" shall have the meaning set forth in Section 3 of the Plan.
"SHARE" means a share of the Common Stock, as adjusted in accordance with Section 12 of the Plan.
"SIXTY-DAY PERIOD " shall have the meaning set forth in Section 12(f) of the Plan.
"SUBSIDIARY" corporation has the meaning defined in Section 424(f) of the Code.
"TAX DATE" shall have the meaning set forth in Section 9 of the Plan.
3. STOCK SUBJECT TO THE PLAN.
(a) LIMIT. Subject to the provisions of Section 12 of the Plan, the maximum aggregate number of Shares which may be optioned and sold
under the Plan or for which SARs may be granted and exercised is 5,000,000 Shares (the "SECTION 3 LIMIT"). The Shares may be authorized
but unissued or reacquired Common Stock. In the discretion of the Administrator, any or all of the Shares authorized under the Plan may be
subject to SARs issued pursuant to the Plan.
(b) RULES APPLICABLE TO THE CALCULATION OF THE SECTION 3 LIMIT. In calculating the number of Shares available for
issuance under the Plan, the following rules shall apply:
(i) The Section 3 Limit shall be reduced by the number of Shares of Optioned Stock subject to each outstanding Option or freestanding SAR.
(ii) The Section 3 Limit shall be increased by the number of Shares of Optioned Stock subject to the portion of an Option or SAR that expires
unexercised or is forfeited for any reason.
(iii) The Section 3 Limit shall be increased by the number of Shares tendered to pay the exercise price of an Option
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