Apple 1999 Annual Report Download - page 105

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of Directors of the Company shall have the power to change the duration of offering periods with respect to future offerings without
shareholder approval if such change is announced at least fifteen (15) days prior to the scheduled beginning of the first offering period to be
affected.
5. PARTICIPATION.
(a) An eligible Employee may become a participant in the Plan by completing a subscription agreement authorizing payroll deductions on the
form provided by the Company and filing it with the Company's payroll office prior to the applicable offering date. Once filed, the subscription
agreement shall remain effective for all subsequent offering periods until the participant withdraws from the Plan as provided in Section 10
hereof or files another subscription agreement.
(b) Payroll deductions for a participant shall commence on the first payroll following the commencement offering date and shall continue at the
same rate until such time as the participant withdraws from the Plan as provided in Section 10 hereof or another subscription agreement is filed
which changes the rate of payroll deductions.
6. PAYROLL DEDUCTIONS.
(a) At the time a participant files his or her subscription agreement, he or she shall elect to have payroll deductions made on each payday during
subsequent offering periods at a rate not exceeding ten percent (10%) of the Compensation which he or she received on such payday, and the
aggregate of such payroll deductions during any offering period shall not exceed ten percent (10%) of his or her aggregate Compensation
during said offering period.
(b) All payroll deductions made by a participant shall be credited to his or her account under the Plan. A participant may not make any
additional payments into such account.
(c) A participant may discontinue his or her participation in the Plan as provided in Section 10, or may lower, but not increase, the rate of his or
her payroll deductions (within the limitations set forth in subsection (a) above) during an offering period by completing and filing with the
Company a new authorization for payroll deductions. The change in rate shall be effective within fifteen (15) days following the Company's
receipt of the new authorization.
(d) A participant may increase his or her rate of payroll deductions (within the limitations set forth in subsection (a) above) to be effective for
the next offering period by completing and filing with the Company a new authorization for payroll deductions at least fifteen (15) days before
the beginning of said offering period.
7. GRANT OF OPTION.
(a) At the beginning of each six-month offering period, each eligible Employee participating in the Plan shall be granted an option to purchase
(at the per
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